DAO Treasury Diversification

Hi All,

  I'm pretty new to the MetaCartel community, although I've met one of you at a few meetups and got an awesome breakdown. I'm OpenFi from the Bankless DAO and I've been helping DAOs diversify their treasury with the BED Index. I was wondering if the MetaCartel was interested in doing something similar. 

If this is not the appropriate place for this question/post, then I sincerely apologize and want to be as respectful to any community guidelines that I may be unaware of. Interested in hearing what everyone thinks!

Thanks for tolerating me!

We love Bankless, tell me moar :money_mouth_face:

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Absolutely! The BED Index is an index that is provides exposure to Bitcoin, Ether, and DPI (which is the Defi Pulse Index). The Defi Pulse Index provides exposure to all of the blue chip protocols/projects in DeFi (Decentralized Finance). Allocation is 33% of each asset - 33% BTC, 33% ETH, 33% DPI

One day on the podcast, Ryan and David literally memed this idea into existence :laughing:, and ever since, The Bankless DAO and the Index Coop have teamed up to create this index. It is designed to provide simple exposure to the crypto assets that we’d shill to our friends and family outside of the space, as it provides some of the safest exposure to some of crypto’s most beloved assets.

BED can be bought on Uniswap or minted. We believe this can be one of the ways not only to help DAOs diversify their treasuries, but also a way to build DAOlationshonships and build some cool stuff.

A little more detail here: Index

Yalor and MetaCartel community, let me know what y’all think!

Also, a collab doesn’t have to be buying the BED Index. It can be just Bankless crew and MetaCartel working together on anything: a new product, promoting content, curarting content … endless list! Is there anything that could benefit the MetaCartel right now?

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MetaCartel and Bankless are def already in cahoots, we collab through RaidGuild, DAOhaus and lots of different content outlets recently.

I think if we were going to buy BED, we would need to create proposal that outlined the roadmap for BED, would we be purchasing from DAO treasury or from Uniswap ? The later doesn’t seem to be very attractive. Maybe we could do some token swaps, worth exploring.

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BED can be acquired in one of two ways. One of the ways is purchasing from Uniswap. The other, and maybe more favorable way, is minting it straight from Set Protocol.

Another possibility is to dollar-cost average manageable (however much that is for MetaCartel) amounts of BED token on the frequency that works best (monthly, quarterly, semi-annually …etc.). Unfortunately, Bankless DAO is not in a position to do token-swaps at this moment.

Do any of these possibilities sound doable to the community?

Hi @OpenFi, thanks for posting.

Personally, I struggle to see the value add of an OTC purchase or minting from Set. To my understanding, Bankless collects a 0.25% streaming fee from BED (for helping launch the product & marketing), while the Index Coop manages the product (liquidity management, more marketing and potentially taking over rebalancing from Set). There is also a 0.95% streaming fee with DPI embedded in the BED index, which I believe brings the actual streaming fee to over 0.50%. The product is not overly complex and IF we are motivated to diversify the treasury, I think it would make more sense to pursue a more active approach (purchasing the assets individually).