10 Principles for Operational Excellence at the Index Coop

Author: @marshmellow

Reviewed by: @afromac, @DevOnDeFi, @edwardk, @anthonyb.eth

Over a year ago, the Index Coop adopted a Code of Conduct and Guiding Principles. This document affirmed the Index Coop’s desire for a culture that is positive, inclusive, empathetic and safe. It guided us through times of conflict. You can gauge its importance by the many replies in which contributors affirmed their commitment to its tenants.

We’ve come a long way in the year since we first adopted this Code of Conduct and Guiding Principles. We are a leaner team now. We are facing more challenging market conditions. With the recent layoffs we bought ourselves a chance to survive the bear market and emerge as the dominant provider of structured DeFi products. But we need to update our guiding principles and improve the way we operate if we want to capitalize on that chance.

To that end, here are 10 additional principles that we should adopt and adhere to. These principles are intended as an amendment to our previous guiding principles. We should remain committed to creating a positive, inclusive, empathetic and safe community culture.

  1. We’re ‘all-in’ — We care deeply about the Index Coop mission, our work and our quality of execution. We work hard and smart to ensure that Index Coop emerges as the leader in the structured DeFi product space.
  2. We get things done — We measure our individual and team performance based on what we get done. We have a bias for action, ownership and clear accountability for outcomes. Our tasks and projects have clear deadlines.
  3. We close the loop — You get 90% of the credit for the last 10% of the work. When we take on a task or project, we communicate with all relevant stakeholders about our progress, any delays, and proactively share deliverables. We never leave our colleagues or external partners on read.
  4. We practice efficient asynchronous communication — Out of consideration for our colleagues across the globe, we utilize asynchronous communication tools (like Google Docs, Notion or Asana) for the majority of our work. We use Discord sparingly with a focus on maximum signal, minimum noise.
  5. We have efficient meetings — We work to minimize the number of meetings and the number of meeting attendees to leave more time for deep work and productivity. All meetings have a designated owner. All meetings have specific objectives and a written agenda that are attached to the calendar invite.
  6. We have clear roles and responsibilities — For every project or initiative, we assign clear roles and responsibilities. These include owners, managers, helpers, stakeholders, and approvers.
  7. We create efficient systems and processes — All of our repeatable work happens within pipelines, frameworks, systems and processes that we’ve set up specifically to facilitate that type of work. We minimize ad-hoc tasks and communication that takes place outside of our processes.
  8. We prioritize what matters — We identify and focus on the things that matter most for our success. We’re not afraid to say “no” to projects and initiatives that will distract us from our highest priorities.
  9. We disagree and commit — We challenge decisions when we disagree, using data and facts. Once a decision is made, we commit fully.
  10. We take time off — We make a point to take care of personal needs so that we can show up as our best selves for the Index Coop. All contributors take at least four weeks of fully offline time off per year.

Nice work, @marshmellow.

We’re all in, indeed!

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