Proposal discussion: NFT INDEX creation

Rationale

“NFT is new trend 2021”. I saw this proposition many times and i know there are some people who actually believe.
That’s why our NFT Index (NFTI) will find some demand.
NFTI should allows holders to simply bet on whole working NFT Sector by and allowing holders (or cvp treasury) to passively earn crypto or assets like NFT from that’s assets without doing much research on every project features.
But we cant include every single coin which hype on NFT theme. As I’m not an expert here i propose only some projects I’m sure of.
If there are more NFT assets with governance, yeld strategy and with working token economy plz let us know.

Best we can do is add assets are also yield generating with forms of staking (nft minting) to increase the rewards of the holders (or if it hard from technical view - cpv treasury)

That’s why i think we should include
MEME which first use case is staking to mint NFT

1 - MEME which is main use case is staking to mint NFT

2 - Aavegotchi -GHST (welcome our AAVE FRENS) : it will be staked in GHST staking contract and allow to passively earn FRENS which could use to buy NFT raffle tickets which have high demand on opensea. (and team declare that it is always good to have FRENS))
I personally got about 50% APY y by selling tickets
DAO will ready soon

3 - Axie Infinity (AXS): leading NFT game now
Staking is available to earn weekly rewards

4 - Rarible (RARI) : no staking that’s why % in the index should be low

5- Sand (Sandbox game) Staking is available to earn some in game rewards as i understood, so % in the index should be low

These strategies should be modified and discussed.

NFTI index summary and composition

The base of index should be less volatile assets which is (as far i know) only GHST ( which backed by millions of dai in bonding curve preventing pump and dump) and CVP

The proposed index “starting point” composition is : Meme: 12.5%, GHST: 25%, AXS : 12.5%, RARI: 12,5% Sand: 12,5%, CVP: 25%.

I think it will be more projects ( may be Cargo Gems (GEM), Chiliz (CHZ) or metafctory) proposing here by the community so composition will be changed soon.

CVP liquidity mining program, fees and additional incentives

To be discussed by the community
I personally think it could be the same as YETI

ps. Sorry for poor English

6 Likes

Thanks for putting it here. potential is high.

BUT I almost sure this is not doable atm

to continue the discussion, could you please provide the data on ADTV for the tokens you mentioned (preferably - 1 month and 3 months ADTVs)

As I briefly checked - $200k - $500k per day.

with these volumes the index is not possible (imagine 10% of ADTV is $20k)

The index will pump the tokens when it starts buying them and then the tokens will dump and the index will not be able to sell them (remember $200k ADTVs)

true but i think it could be much more tokens in the index so buying pressure will be less.

also if it possible ghst could be bought from boding curve (with low slippage in any volume) not uniswap

anyway i think it is some room for crating something doable

even if 8 tokens, $200k (which is the ADTV for some of the components) brings us to 200/(1/8) = $1.6 mn TVL

And having this $1.6 mn TVL, index ll not be able to actually trade its components

Could you please provide the ADTVs for the most liquid NFT tokens? maybe we can start with 4 of them with at least $1 mn ADTV…

There is no 1 mln adtv on uniswap.
Main volume on CEXs

CVP have only 500 k same as meme

ghst and rari hev 300 | on uni

and what are the volumes on CEXes?

AXS - about 6 000 000 on bin +uni
rari -only 325 634 on uni
meme - 3 500 000 okex+ uni
sand - 5 000 000 bin+uni
ghst 1 000 000 - bin+uni + something on okex (unlim volum on bonding curve if posible from tech)

wow, thanks! well, then there are enough volumes to start:)

Just as advise from my side is to weight the tokens by VOLUMES (not by the MCaps), coz RARI should be in the index

I am just not sure whether the decentralized index could work with the volumes coming from CEXes - I think its better to ask @powerpoolAdmin

1 Like

I like this proposal, let’s clarify governance and other functions of these tokens that can be used by the index, check out composition and CVP LM program and seems we are good to go!

3 Likes

I like this a lot. I think adding only the “blue-chip” NFT tokens with room for addition later will be a huge benefit going forward in such a nascent market.

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I agree. Since metagovernance is a core value proposition for PP, we should think about governance piece of each NFT tokens in the index

I also have interest in NFTs, so this can turn out to be something cool

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Just to add, I know this NFTX (https://nftx.org/) is the biggest NFT Index that is launched from what I know. I haven’t studied how they really work, but think they reach cap $ that were looking to reach

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Ok lets refresh the discussion we need some more research
i think we need to add decentraland (Mana) -Voting takes place on the Decentraland DAO’s governance interface, powered by Aragon.

easy to look fers at coins here
https://dropstab.com/share/kaoiz52

weight the tokens by VOLUMES (not by the MCaps)
24 H volume from coingeco
mana - 87 177 125 $
sand 28 066 441 $
AXS 27 098 653 $
GHST 2 110 838 $
Meme 2 978 176 $
Rari 1 895 017 $

But v2 SVP now use market cap weight so no need the index composition?

All coins have governance and most has staking

NBA topspot get hipe now and most NFT coins are rising. Powerpool need its own NFT index

Yes let’s get this, nft index is a cool idea.

For the cvp liquidity mining program, I think the current ASSY cvp rewards system with basic cvp rewards and an additonal boosted rewards seems beneficial here.

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I think we should include ENJIN as well. It is a coin with great potential and will be stakeable on efinity latter on. It is also closely connected with a lot of gaming NFT of their own design.

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I think ENJ is not a gov token but i could be wrong

@Glow Yea they don’t have on-chain governance either. It might not be a governance token. But Enjin has second largest 24 hour volume in the list after mana at around $80 million usd/24 hours.

@Gogano perhaps this proposal should be rewritten now to include mana as well. If we say that this index (if it passes) is launched with DAMM from the very beginning then the weights should not need to be defined.

I think that there should be a cvp reward program similar to ASSY. But i do not think that the rewards should be as high as they were for ASSY. ASSY had 4.5 million cvp per year (375,000 cvp per month) it was too much in my opinion. i don’t think having the large rewards was enough incentive since the tvl is not huge yet but there is large inflation.

I don’t want to give any specific numbers as I am not sure myself but I feel that with hopefully xcvp proposal and staking coming that there will be more rewards that just cvp farming alone, and so we can reduce the cvp reward (and greatly reduce inflation thus improve cvp price). @Sergey @vasilysumanov any suggestions please?

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yes mana is included
agree with u about rewards too

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I am starting to think lets not have cvp staking rewards for all future cvp indexes. Similar to yearn lazy ape i think is a great approach. CVP price needs to be helped. With all new features coming too its not really a good idea imo.

where are we at with this? would love to get this to voting?