This post will serve as the official nomination post for any contributors who want to run for a position in the Index Council (v2 term: 01 April 2022 to 31 August 2022). This post also outlines the nomination and election process that will be used to determine and vote in members of the Index Council. The new Index Council will have a term of 6 months, after which the nomination and election process will take place again.
The Index Council was a group of seven Index Coop contributors established back in November 2021. Their term started on December 1st, 2021, and ran through to February 28th, 2021.
After their term ended, time was spent to engage with the community on whether the Index Council was successful or not, and whether the community wanted a continuation of the Index Council or not. A contributor vote was run with the overwhelming majority of contributors voting FOR moving forward with a second iteration of the Index Council.
Achievements of the first iteration of the Index Council include laying out a vision and strategy for the Index Coop; “We build decentralized financial products that unlock prosperity for everyone.”,coordination of the Priority Hiring process, Season 1 budget and nest approval process and more that is highlighted in detail here.
The next iteration of the Index Council will be responsible for:
- Determining Index Coop strategy - especially relating to product and strategic partnerships
- Supporting Resource allocation to deliver on our strategy.
- Delegation decisions that lack a clear owner and empower “win teams” to solve problems
Further, alternative governance work sessions (spearheaded by @anthonyb.eth and @JosephKnecht) have formed an early agenda queue as a way for the incoming council to prioritize decision and delegation flow from the contributor body. Admittedly the remit of the v2 council is not fully scoped; highlighting, prioritizing, and delegating currently-undelegated external engagement will be the responsibility of the council as it stands. We expect this tooling and process-flow to continue to develop over time.
Move forward with the formation of an Index Council V2 as specified here. With a term starting April 1st 2022 and running for 6 months to September 30th 2022.
The Index Council will be composed of a group of seven contributors, the seven members of the council can come from any of the five nests. It is believed that seven people are the optimal number of individuals for this group to make rapid progress whilst still bringing in representatives from across Index Coop. There will be no hard cap on the number of Index Council members which are required from a specific Nest.
- Index Council members will have a maximum term limit of two successive 6-month terms.
- All 7 seats on the Index Council will be up for re-election, no previous members will continue their terms without being re-elected.
- If an Index council member leaves during their term, the nomination and election process outlined below will be used to fill in their vacant position.
- Two members of the Index Council will serve as a ‘Council Steward’ and a ‘Council Secretary’. These positions will be determined by the the seven members of the Index Council once the election period has ended.
Nominations will be flagged via comments on this governance forum post. Candidates must self nominate to be considered for the Index Council. Index Council candidates from Owl levels, Bronze, Silver or Gold (Gold+) can self nominate.
Candidates are expected to write a short summary (max 300 words) which may cover topics including:
- Position statement on decentralization vs. centralization at the Index Coop
- Position statement on ICC transparency
- Link to a current conflict of interest disclosure, public to voters
- What they think Index Coop’s strategy should be
- What is their stance on resource allocation
- i.e. level of overall spend; any Nest, Pods or initiatives which should receive more or less funding.
- What their stance is on delegation of decision making,
- I.e. what activity would they like to see the Council focus on, what activity would they like to see delegated.
- Why they think they would make a good Index Council nominee.
Choice Vote will be used to enable contributors to vote for their Index Council representatives. We have seen success using this platform in similar election processes such as the Funding Council, Autonomy Group and the first Index Council.
The seven positions will be filled using the voting system of “Electoral Reform Society STV 2”. This is a type of rank order voting designed to maximize the significance of each individual vote, reduce vote gaming and minimize the frequency of “wasted votes”. This 7 minute video, and this 2-minute video do an excellent job explaining how STV works.
- Bronze, Silver and Gold Owls are all eligible to participate. Silver Owls will get 2x vote weighting and Gold Owls will get a 4x vote weighting.
Details on the Owl Levels of contributors for Season 1 can be seen below. This provides the following relative vote by voting group:
|Owl Level||# of Owls||Weighting multiplier||Relative vote|
This means the selection of Index Council nominees will be heavily influenced by the perspectives of our highest context and impact Gold Owl contributors.
The breakdown of voting weight for Nest can also be seen below:
|Nest||% Voting Weight|
This table indicates a broad distribution of voting power across Index Coops 5 Nests. With the largest Nest of Growth and Product having a significant share of the overall voting weight.
- Nomination Period: [ NOW CLOSED ] The nomination period will last from: NOW until 25 March 2022 00:00 UTC. ( 2022-03-25T00:00:00Z )
- Election Period: The voting period will last from: 28 March 2022 18:00 UTC until 31 March 2022 18:00 UTC ( [2022-03-28T18:00:00Z→2022-03-31T18:00:00Z] )
(in order of acceptance)
|Nominee||Nest||Term End||Nomination Post|
|@MrMadila||Product||30 September 2022||nomination post|
|@anthonyb.eth||Product||30 September 2022||nomination post|
|@afromac||Product||30 September 2022||nomination post|
|@catjam||Product||30 September 2022||nomination post|
|@LemonadeAlpha||Growth||31 May 2022||nomination post|
|@lee0007||Growth||30 September 2022||nomination post|
|@pujimak_in||Community||30 September 2022||nomination post|
|@Metfanmike||Growth||31 May 2022||nomination post|
|@Matthew_Graham||Finance||31 May 2022||nomination post|
|@edwardk||Product||30 September 2022||nomination post|
|@BigSky7||Growth||30 September 2022||nomination post|
|@DocHabanero||Product||30 September 2022||nomination post|
|@DevOnDeFi||Growth||30 September 2022||nomination post|
|@StepvhenH||Community||30 September 2022||nomination post|
|0000 UTC 25 March 2022||Term-end of ex-council-members adjusted to month-end (31 May 2022 from 30 May 2022), by @Metfanmike request.|
|1426 UTC 25 March 2022||@MrMadila Nest affiliation changed to Product, by request.|
|1300 UTC 28 March 2022||@sixtykeys change start time from 28 March 2022 1400 UTC until 31 March 2022 1400 UTC to 28 March 2022 18:00 UTC until 31 March 2022 18:00 UTC.|
|1430 UTC 14 April 2022||Corrected term length in table from 5 to 6 months per body of of post above|