IIP-43: Deprecation of the $CGI Product
IIP: 43 Title: Deprecation of the $CGI Product Status: Proposed Author: Michael Petch (@mcgpetch) Created: May 17, 2021
Simple Summary
CoinShares proposes the deprecation of the $CGI due to the inability to support the resources to scale the product and the lack of product market fit.
Abstract
Over the past few months since launch the $CGI has struggled to capture significant inflows into the product. This can be attributed to a few reasons, notably, the inability to support enough liquidity in the gold stablecoin constituent which has ultimately deterred the ability to attract large size and trust from investors. Additionally, the $CGI investment strategy which is designed to be a conservative strategy by reducing risk and volatility lacked product market fit during this period in the market. Investors are currently driven by risk-on strategies while the $CGI is a conservative, wealth-preserving play. The $CGI is therefore struggling to generate demand from investors.
Motivation
Index Coop products should be reviewed on a continued basis to determine if they are achieving their goals and maintaining appropriate standards. Currently, the $CGI is unable to generate enough liquidity to support the product effectively and is lacking product market fit. CoinShares, as the methodologist, suggests for the product to be deprecated.
FOR
- Deprecate the CGI product from Index Coop.
AGAINST
- Do not deprecate the CGI product and keep it with Index Coop.
Copyright
Copyright and related rights waived via CC0.
| Voter | Cast Power | Vote & Rationale |
|---|---|---|
 0x042a...5D1272 | 18,040 | FOR |
 0x367b...545477 | 6,213 | FOR |
 0xc618...f178B4 | 2,907 | FOR |
 0xB188...9D4B94 | 2,078 | FOR |
 0x421f...29B36A | 1,902 | FOR |
VOTE POWER
Proposal Status
- Thu May 20 2021, 06:00 pmVoting Period Starts
- Sun May 23 2021, 06:00 pmEnd Voting Period
Current Results
1-FOR
42,597.681
2-AGAINST
465.087