IIP-120 DG1: Launch Forefront Social Token Index

This is the first of two votes required for a new product to be onboarded to the Index Coop.

A passing vote here signals the Index Coop's intent to further research the Forefront Social Token Index feasibility resulting in a product prioritization score.

Passing Thresholds:

• 5% or more of circulating supply must participate (2,181,385*0.05 = 109 069)
• 50% or more of participating tokens must vote FOR

FOR - Pass Forefront Social Token Index through Decision Gate 1. Begin work to research & assign Forefront Social Token Index a product prioritization score.

AGAINST - Do not pass Forefront Social Token Index through Decision Gate 1.

DG1 is a signaling step to gauge community sentiment. The full-text Forefront Social Token Index exceeds Snapshot’s character count limit. Below is an abbreviated proposal. Check out this forum post to read the full proposal.

================================================ Status: Proposed Author(s): Forefront DAO, 1kx, Carlos Gomes Created: 11/08/2021

Purpose

To provide the industry with an investment product providing passive exposure to the social token sector.

Objective

The FF Social Token Index is a digital asset designed to track tokens’ performance within the social token industry. It aims to incorporate projects and communities that have significant usage and show a commitment to ongoing maintenance and development.

Below is a snapshot of the index we have been tracking the past 6 months.

Motivation

“My view, as I've stated many times, is that social/community tokens are going to be one of the biggest changes to global business models in history.” ~ Raoul Paul

In 2021, the total market cap of key social tokens surpassed $580m, a ~615% growth from 2020. The amount of addresses holding social tokens grew by ~200% from 6000 to 19,000. This year alone Coinvise has helped more than 280 communities and creators launch a social token.

Social Tokens have the potential to become the next ‘big-thing’ in crypto, yet there will be thousands of them. Investors of all sorts will need a curated list, and Forefront is best positioned to provide that service. Over the past few months we have been inundated with requests to provide an investment vehicle.

The FF Social Token Index is our response to that demand, offering investors with a professional product providing exposure to the social token sector. It gives them passive access to a vehicle which captures value-weighted upside from the most promising social token communities and projects.