Hi all, wanted to make a proposal/discussion about revamping the DeFi+S index. Things move rapidly around the DeFi space as I’m sure you’re all aware and I think its about time the +S index got a bit of a revamp to properly reflect the growth and usage of particular protocols.
WHY CRV & BNT
First off, if you’ve been around the DeFi space for any amount of time I’m sure you’ve heard of or used these 2 protocols like me. They have become quite mainstays and established themselves as legitimate protocols with many users, TVL, and business models. If we look at these project sorted by TVL we can see them right next to many other projects that are currently in our other indexes.
Protocol Quick Stats
BNT(bancor.network) - 1.3B MC - 1.5B TVL - close to 1B in volume per month - Unique AMM that protects against IL.
CRV(curve.fi) - 562M MC - 3.5B TVL - 23.3k unique token holders - over 30B in total volume since inception.
I’ve linked both projects dune analytics dashboards above if you want to dive into more juicy stats
Both of these protocols have a large potential for growth as they have established themselves as very heavily used tools in the defi space. BNT is unique in its AMM structure that protects against IL and also has a very active community that is constantly adding new assets as well as providing liquidity mining opportunities. CRV has established its self as the go to stablecoin swap protocol with the vast majority of stable pools and a large amount of LP pools as well as a robust profit share mechanism for token holders. Personally I think both projects provide a unique value proposition in the DeFi space that holders of the DeFi+S index could benefit from.
PieVault Compatible Assets
An added benefit compared to some of the other tokens in the +S index is that both could be used to lend or generate yield if the Index was transitioned to a PieVault contract which could be a great opportunity to add additional value to the Index as with DeFi+L.
This is just a rough proposal to gauge interest and community sentiment. If deemed a good idea I can move ahead with determining the new allocations of each asset in the Index. Thanks for reading!