Proposal to Launch DPI/USD Market

Proposals New Markets
#1

Background

DPI (https://www.indexcoop.com/dpi) is a DeFi index constructed by DeFi Pulse and the Index Coop. DPI imo is the best defi index created thus far and has a dedicated community behind it thinking deeply about construction and rebalancing. Notably index coop indices doesn’t suffer the issue where 1 token going to 0 brings the whole index to 0.

In traditional finance index futures are hyper liquid, with the ES trading >$100b daily. A DPI future allows traders to get levered exposure to DeFi as a vertical. The only comparable product in the space is FTX’s DEFI-PERP that does good volume ($13m today), but the DPI index differentiates across a couple axis imo

Key Metrics

  • Uniswap DPI/ETH Liquidity $35m
  • Uniswap DPI/ETH 24hr Volume $3m
  • Very heavy DeFi native holder base
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Proposal to launch $DPI
#2

DPI is a pretty good addition if Perpetual wants to get into DeFi. Interest is a bit lower than the DeFi blue chips, but also allows Perpetual to be at the forefront for something that is likely to have much more volume in the future.

#3

hey guys,

this is AG from Index Coop, community managing DPI. we would love to see the launch of DPI/ETH futures market. thanks, @will_sheehan for bringing it up.

On our conservative estimates, there are currently around 5,200 unique addressed holding DPI. We have also done some analysis and it turns out that DPI in incredibly sticky. Half of all DPI addresses with more than 500 DPI (roughly $90,000) don’t use it for liquidity mining or yield farming. In fact, they haven’t moved it at all since purchase.

Uniswap liquidity, currently at close to $40 million, is also quite sticky. We have reduced liquidity mining incentives twice (first in December and at by another 35% in the beginning of January) and while the first instance did result in the loss of liquidity, the second time around there was no such effect. Might be explained by rising markets or that no re-staking was required.

Here’s historical Uniswap volume as well for your reference.
image

We have also tried DPI options on Opyn a couple of weeks ago and would love to also have DPI futures of perp.fi.

Let me know if there’s anything you need from us.

Cheers,
AG

1 Like
#4

Background

The DeFi Pulse Index is a digital asset index designed to track tokens’ performance within the Decentralized Finance industry. The index is weighted based on the value of each token’s circulating supply. The DeFi Pulse Index aims to track projects in Decentralized Finance that have significant usage and show a commitment to ongoing maintenance and development.**

Key Metrics

$DPI holders

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As a new member on your board I am limited to many charts I can link. However, more quantitative data can be found here.

Other Metrics

Links to security audits

Other Notes

$DPI is the leading DeFi Index and is interested in partnering with Perpetual Protocol to pursue a trading competition. We are looking forward to discussing more with your community!

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#5

Just merging that other thread into this one as there was a DPI one already open.

Have been talking to Reegan and I believe the team are looking to put forward a proposal to the community soon as well

1 Like
#6

Hi everyone,

Just wanted to add we’ve had some new developments on this space due to the hard work from @reganbozman. The Index Coop are currently proposing to co-sponsor a trading competition for DPI, more details to be found here: Perpetual Protocol x Index Coop - #5 by overanalyser - Growth - The Index Coop

Would love to get more thoughts from everyone!

5 Likes
#7

Regan here, I’m an active community member of the Index Coop (and a big fan of Perpetual). We’re really excited about this partnership - happy to answer any questions

3 Likes
#8

Would love to see it!

#9