Index Coop LTIPP Council Recommended Proposal

Link to Application

https://forum.arbitrum.foundation/t/index-coop-ltipp-application/21793

Council - 3/4 Yes Votes

Feedback

Wintermute Feedback)

Index Coop’s application was very strong and scored well across the majority of the criteria. They provided thorough explanations of their KPIs and goals and set out clear milestones. Their justification of grant size was sufficient and they had a well-thought-out execution strategy that clearly targets increased TVL activity and users on Arbitrum. Their product is highly composable and they have a large existing user base. Their emphasis on specifically rewarding existing ETH users to Arbitrum is a great idea. We support this application.

GFX Feedback) This protocol identifies and tries to fill a specific need. The grant plan, however, could have been considerably stronger if it had 1) identified a past driver of growth, and 2) tailored the plan to replicate or extend that growth. In particular, rebates for fees deserve some data that shows it moves user activity. Recommend the applicant revise and resubmit in future grants cycles with this in mind,

GMX Feedback) I am generally positive about supporting Index Coop’s application. They have a novel product, which has an offchain reach demonstrated by their partnership with eToro, CoinDesk and 21.co. In anticipation of RobinHood integrating Arbitrum to their app product-offering, and in consideration of the immense reach of mobile apps, I think that should Index Coop be successful it would greatly benefit Arbitrum as an ecosystem as well. Given that they partnered with etoro in Oct23, they could be a good fit to marry onchain with tradfi. Bitcoin ETF has been established with ETH ETF next, and I believe Index Coop would be a good fit for arbitrium for tradfi integration.

Karel Feedback) Vote FOR Index Coop's proposal.

Strong proposal that scored well across the rubric. Despite being newly deployed to Arbitrum, their proposal well captures their execution plan, target milestones/KPIs, how they plan to incentivize migration to Arbitrum from Ethereum, and provides strong justification behind their requested grant. Outside of this, their adoption/partnership with TradFi products like eToro is promising to potentially attract off-chain users (would like to understand if there's a strategy here). On stickiness post-LTIPP, there is some light description on this and proposal would benefit from further detail on their new mechanisms re: trading competition, cross-selling with other products (and if there are any Arbitrum partnerships in mind).