I Will Survive Index
Summary Description
One synthetic asset that represents the most basic needs for you to keep your mind, your body and your work even if the global economy crashes.
Which metric will your synth track?
A basket of services and goods that are essential for you as a decentralised citizen.
How will you get data for your metric
Ideally it would use any price tracker for each industry and the challenge is to have option for every country. The way I see it, it should have some preloaded options of services (energy, internet, mobile plans, transport, house rentals, shared workplaces rentals, yoga class, gym) and goods (gas, chocolate, coffee, beer, wine, cheese, bread, milk, eggs, vegetables, fruits, notebook, mobile phone)
I think we will need to create a platform where people will select a preset off stuffs to create their own index.
What collateral type(s) would you use for this synthetic
The colateral would be USDC this is not my first option we can discuss about it but since it has good liquidity and user familiarity it maybe a good idea.
I’m not the data expert guy, I will need some help with suggestions where we can find the most accurate measurement. But since we are aiming for costumer prices some price tracker bot or platform like pricegrabber can save us some development time.
To avoid discrepancies I think we need to create snapshot’s every week and adjust the price every quarter based on the average.
The biggest issue is to create something able to work worldwide since I believe not every country have good tools (not influenced by governments) to track consumer prices.
We need someone with expertise on big data to address a way to simplify the interaction with the protocol/contract.