This forum post aims to facilitate the nomination of MetaGovernance Committee members. IIP-92 established a standard process for electing the MGC members and defined the starting date of the next term, which is on Block 14920000 (~June 7th , 2022).
The nomination process described in this post will allow potential new members to nominate themselves (or be nominated by someone) and marks the start of the next MGC term.
The MGC serves as a backstop to our MetaGovernance voting structure. The committee is assigned the task to vote when a quorum on MetaGovernance votes is not reached (which happens more often than not). For any vote that does not reach quorum, the MGC ensures that the Index Coop participates in the vote: The MGC is given complete discretion to decide the outcome and vote on behalf of all $INDEX holders.
Every MGC member is asked to provide their vote on all MetaGovernance votes with either For, Against or Abstain. This is a role that requires active participation, as well as a good understanding of the underlying protocols of Index Coop products. Voting takes place via a chat on Discord. Members are expected to participate in each vote and provide their decision within the given time frame (usually 24 to 48 hrs). Votes can occur 24/7.
Currently, the following protocols are live: Uniswap (UNI), Compound (COMP), Aave (AAVE), Yearn Finance (YFI) and BadgerDAO (BADGER).
Elected members serve 1,200,000 block terms (~6 months), with a 3-consecutive term limit and are elected via weighted voting using Snapshot (voting with $INDEX tokens). Members can hand in their resignation earlier or be recalled by a community vote.
There are currently 3 members of the MGC:
@Yuan-han-li (representing Penn Blockchain)
The members whose term is ending with Block 14920000 (~June 7th , 2022) are @oneski22 and @yuan-han-li . Two members who joined from the previous election have also resigned during their term (@ncitron and @Matthew_Graham). Therefore this will be an election for 4 MetaGovenance Committee seats. As per IIP-92, all members whose seat is up for election can nominate themselves again. This is however not applicable if a member has already served 3 consecutive terms.
Start & End Date
Nominations start with this forum post. The deadline for nominations will be on Friday, June 3rd 20222 @1800 UTC.
Who is eligible?
All community members (internal and external) are welcome to come forward to express their interest in becoming a member of the MGC.
What do I need to do?
- If you are interested in joining the MGC, please leave a comment at the end of this post announcing your nomination. You can also nominate someone else.
- All nominations “by someone else” need to be confirmed by the nominee.
- If nominated, please share your background, any involvement with Index Coop or any other protocols/projects, and why you would be a good fit for a seat on the committee.
My name is Owlie D Cooper (Owlie.eth on discord) and my background is in TradFi.
I’m a silver owl and I have been a contributor to Index Coop for 5 months at the Finance Nest.
My experience with … would be of great use to the MGC, because…
- [Proof-of-human] New nominees are expected to attend a community call the week following this post, to introduce themselves and explain why they should represent the Coop (only required for non-core contributors). Otherwise, the nomination is not valid.
- Ideally, this intro takes place during the Weekly Standup on Monday or at the Leadership Forum on Wednesdays.
Once all nominations for new MGC members have been submitted (deadline June 3rd 2022, @1800UTC), the GovNest will publish a forum post highlighting the confirmed candidates and provide a brief background on the proposal submitted by those individuals. Afterwards, the election will go live and a Snapshot vote will be created.
Token holders can then vote via a weighted choice to elect four members of the MetaGovernance Committee for the next 1.2M blocks.
The following candidates have self-nominated to serve on the MetaGovernance Committee:
Each nominee’s personal statement can be found in the comments below. Only four candidates will be selected through a ranked-choice vote which can be found here.