IIP-10 Treasury Committee Grant #2

Governance Proposal
1

iip: 10
title: Treasury Committee Grant #2
status: Accepted
author: Dylan Tran (@dylan)
created: 2020-11-23

Simple Summary

Grant the Index Coop Treasury Committee additional funds from the Index Coop Treasury to continue rewarding Index Coop contributions.

Abstract

The Treasury Committee is seeking a grant of 50,000 INDEX tokens from the Index Coop Treasury.
These funds will be used to reward contributors in the monthly contributions round up, the newly launched bounty program, and future initiatives at the discretion of the Treasury Committee. This grant is expected to sustain Index Coop contributor rewards until the end of Q1 2021.

The Treasury Committee’s Index token distribution for October is listed here.
The Treasury Committee’s wallet transactions is available for audit here.

In IIP-4 the Index Coop Treasury Committee was entrusted with distributing 10,000 in INDEX rewards for contributions to the Index Coop.
The Index Coop Treasury Committee contends it has distributed those rewards according to principles of Fairness, Sensibility & Flexibility set forth in the original IIP.

This proposal adheres to the same aims and goals outlined in IIP-4. A vote for this proposal is essentially a vote to continue down the path outlined in IIP-4.

Motivation

Prior to the October reward distribution, INDEX token price dropped to less than $2 per INDEX. INDEX distribution was slightly increased to accurately value Coop contributions. Roughly 7,500 out of the 10,000 INDEX granted to the Treasury Committee was spent in the October distribution.

November has seen a steady increase in new users joining the Coop, and current users ramping up their existing contribution efforts.

To continue rewarding contributors for work towards the Index Coop an additional grant of funds is required.

FOR

  • Grant the Index Coop Treasury Committee 50,000 INDEX to continue reward ditsribution to Index Coop contributors.

AGAINST

  • Do not grant the Index Coop Treasury Committee additional funds to continue reward distributions to Index Coop contributors.

Copyright

Copyright and related rights waived via CC0.

IIP-10 Treasury Committee Grante #2
  • FOR Grant the Index Coop Treasury Committee 50,000 INDEX to continue reward ditsribution to Index Coop contributors.
  • AGAINST Do not grant the Index Coop Treasury Committee additional funds to continue reward distributions to Index Coop contributors.

0 voters

7 Likes
2

In abstract you say 50,000 INDEX and in “For” you say 30,000 INDEX, can you correct one of them to the right number please

3

Fixed. The correct number is 50,000 INDEX.

4

Would this mean that monthly INDEX distribution to contributors would be 10,000 / month?

5

Not exactly. The 50,000 INDEX accounts for potential volatility in INDEX price and the potential for newer contributors who may join the Coop in the months ahead.

Currently the quantity of INDEX distributed on a monthly basis isn’t decided before hand and divvied up like a pie. Rather we attempt to value each member’s contribution individually and then measure them relative to other members’ contributions which we feel confident in.

1 Like
6

excellent idea could have the system of index ambassadors helps spread the project