ETP 1 Final Summary Pre On-Chain Vote

Thank you WSB community for the vibrant discussion for our 1st ETP asset allocation!

As posted on various announcements the process for the best UX has been as follows:

  1. Polling to select the initial 20 tokens
  2. Discussion on Gov.WSBDApp.com to massage the methodology math and weightings.
  3. The consolidated feedback is then packaged up into our 1st on-chain vote.*
  4. Voting will go live as soon as practical and the link will be https://vote.wsbdapp.com/ when it’s live.

*On-chain votes are typically binary i.e. ‘Yes’ or ‘No’ to proceed with this starting methodology and asset allocation.

As a reminder: ALL $WSB tokens, including those which are staked in pools CAN vote:

  • The voting 1st takes a snapshot of wallet balances and locks in those balances to gather vote weights
  • Once the vote is live, you can buy/sell $WSB as normal - but any newly purchased WSB after the vote/snapshot start, are not able to vote (normal practice).
  • The vote will be open for 72 hours once it’s live.

Proposed Specification Details:

  • Basket Size:

    • The basket size of this ETP will be set at 20.
  • Illiquid Assets: $RARI, $SWAP, $IDEX, $RAZOR

    • The feedback received was that most members were happy to keep the 4 tokens which are most illiquid in the current ETP, as well as in favour of keeping low cap projects in the ETP for performance reasons moving forward.
  • Market Capitalization Weighting:

    • Rather than using just market cap for the weighting, a squared market cap will be used to weight the constituents.
  • Weight Floor and Ceiling:

    • Asset constituents are capped to a weight of 15% and a 1% weight floor will be introduced.
  • Asset Eligibility:

    • Coverage: Have active tradable markets and been trading for 60 days.
    • Liquidity: Have an average daily trading volume that exceeds $50k USD
    • Tokenomics: Access to supply and free-float data.
    • Token Holder Count: > 500 Addresses
    • Particular Exclusions: Stablecoins
  • Reconstitution & Rebalancing

    • The proposed rebalancing will be every two months starting when the ETP has launched.

Table of Weights (with a 15% ceiling cap and a 1% weight floor based on the squared market cap).

Weights calculated on 3rd June, 2021.

We are very pleased with the community driven results so far. The basket should be a great reflection of exposure to the crypto asset class in general and meanwhile the ETP web page design (will be ETP.WSBDApp.com when live) is looking slick - We can’t wait to get through the vote and move onto building the ETP and it’s sub-domain site!

Apes together strong.

~ WSB DApp team

22 Likes

Looks great!

I can see how you’ve listened to community feedback and distilled it into a more refined ETP proposal. Seeing this really brings to light how we are all part of something and working together to make change happen. Thanks for all the hard work you have done, and I’m so glad that there’s such a great team running this project!

4 Likes

Alright, let’s go! Things are moving quick.
Btw, small mixup in lines 15-17

1 Like

Oooof - solid attention to detail there! :clap::clap::clap::ok_hand:

Lines 11 & 12 too. The spreadsheet could use some functions in those cells.

Great job guys! Cannot wait for the first official ETP launch!

2 Likes

really excited for this - bit of a novice so not entirely sure how it works, but have trust in the leadership for this… Let’s go…!

1 Like

should be fixed, I updated a bit ago

1 Like

hope everyone will participate on ETP voting

1 Like