#7 Rebalancing of the SCIFI Index, July 2021

What?

Mission Control presents the list of potential new assets to remove and include in the SCIFI index token for the July 2021 rebalancing.

Why?

The SCIFI Index is an actively curated index, rebalanced on a monthly schedule. By opening the rebalancing decision to the DAO we are keeping in line with the core value proposition of the SCIFI index and following its methodology.

How?

Mission Control will suggest two tokens to be removed and 8 potential additions to the index. The 10 assets will include the two tokens that Mission Control suggests removing, so that the DAO may choose to keep them in after all. The two assets with the most votes will be included. The voting is token weighted. The rebalancing will be implemented on the 19th of the month.

Current constitutes

$ROOK - KeeperDAO (to remove)

$SNOW - SnowSwap (to remove)

$YF-DAI - YFDAI Finance

$FTT - FTX Token

$SUSHI - SushiSwap

$LINK - Chainlink

$DIA - DIA

$GTC - Gitcoin

$PERP - Perpetual Protocol

$SPICE - SPICE

Constitutes up for vote:

$ROOK - KeeperDAO

$SNOW - SnowSwap

$CRV - Curve Finance

$BORING - BoringDAO

$INJ - Injective Protocol

$BAL - Balancer

$QUICK - Quickswap

$CHR - Chromia

$HEGIC - Hegic

$MLN - Enzyme

When?

We propose the following timeline:

Today - Start of open discussion

12.07 - Proposal formalised and vote opened on Snapshot.page

14.07 - End of vote and communication of results

19.07 - Execution of rebalancing

Hey everyone, personally I really think that $CRV and $QUICK would be good additions to the $SCIFI token constituents pool.

Personally i think i’m leaning towards $QUICK - i’ve seen recently that the total transaction volume on the Polygon ($MATIC) network has exceeded that of Ethereum or BSC. $QUICK is the main DEX on the Polygon layer 2 network as far as i am aware.
Due to scalability / gas fee problems associated with the Ethereum Network, i think if we enter another market uptrend, the Ethereum network will struggle and gas will be very high, which i think will make people migrate over to Layer 2s.

Cheers guys,
Leemo

1 Like

Thank you all for your opinions, the vote is now live!

:sparkles: You can VOTE HERE :point_left:

:rocket: Like & retweet :point_left:

End of vote and results on July 15, 6pm CEST 2021

Rebalancing execution on July 19, 2021

:round_pushpin: The 7th SCIFI Index rebalancing vote is over!

The SPICE DAO has spoken and the two new constitutes that will be part of the SCIFI Index have been chosen:

:sparkles: $CRV - Curve Finance with 97.51% of the votes is the first of the two to join $SCIFI Index. Curve is an exchange liquidity pool on Ethereum designed for (1) extremely efficient stable coin trading (2) low risk, supplemental fee income for liquidity providers, without an opportunity cost. Welcome aboard, $CRV.

:sparkles: $BAL - Balancer with 1.42% is second to join $SCIFI Index. Balancer Protocol is an automated market maker (AMM) protocol built on Ethereum. It facilitates trades as a decentralized exchange, and supports liquidity providers by allowing anyone to create and supply trading pools. Welcome $BAL!

Rebalancing execution will happen on July 19, 2021