# IIP-111: Create an Operations Account on Polygon Network **URL:** \ **Category:** Proposal\ **Tags:** IIP\ **Created:** [20 November 2021 18:58 UTC](https://gov.indexcoop.com/t/iip-111-create-an-operations-account-on-polygon-network/3247 "2021-11-20T18:58:45Z")\ **Posts on this page:** 6\ **Page:** 1
**Author:** ![Matthew\_Graham](https://yyz1.discourse-cdn.com/flex027/user_avatar/gov.indexcoop.com/matthew_graham/32/1336_2.png) [@Matthew\_Graham](https://gov.indexcoop.com/u/Matthew_Graham)\ **Post date:** [20 November 2021 18:58 UTC](https://gov.indexcoop.com/t/iip-111-create-an-operations-account-on-polygon-network/3247/1 "2021-11-20T18:58:46Z")
iip: 111 title: Create an Operations Account on Polygon Network status: Proposed author: @Matthew_Graham created: 2021-11-20 ## Simple Summary We propose creating a multisig Operations Account wallet on Polygon Network. ## Abstract This multisig will primarily be created on the Polygon Network to serve the following purposes: - Receiving wETH2x-FLI and other products revenue - Managing Index Coop owned liquidity provisions The signers on the Polygon Operations Account will be the same as those on Ethereum Network Operations Account wallet. ## Motivation As Index Coop is going to be launching products on Polygon, the community needs a wallet for receiving revenue. Finance Nest is preparing for this and wishes to do so well in advance of any product launches. In addition to receiving revenue we expect the wallet to be used to deploy Protocol Controlled Liquidity (PCL) creating liquidity for either INDEX or Index Coop products. The Ethereum Operations Account holds around $3.5M at the time of writing, most of this is INDEX and ETH2x-FLI. The Polygon Operations Account will likely hold similar value pending how much PCL is deployed. There is around 930K of DPI & MVI in the main Treasury wallet, if this was deployed on Polygon as PCL then the wallet will hold around $1.86M. Therefore it is reasonable to think the Polygon Operations Account will hold a similar value to the Ethereum Operations Account wallet. Upon creating the wallet an amount of MATIC will be distributed to some of the signers enabling transactions to be executed. # Specification Create a Gnosis Safe on Polygon network: - Add all the people listed in the table below The wallet will still only require 3 signers to approve a transaction, 3 of 11. Currently, the Operations Account on Ethereum has the following signers. I propose replicating this on Polygon. | Location | Roles | Operations Account | | --- | --- | --- | | United States America | Developer | @dylan | | United Kingdom | TOCWG | @Pepperoni_Joe | | United Kingdom | Finance Nest | @Matthew_Graham | | United Kingdom | Finance Nest | @ElliottWatts | | United Kingdom | Finance Nest & TOCWG | @Hammad1412 | | United States America | Operations Account Manager | @prairiefi | | United States America | Metagovernance | @oneski22 | | United States America | Engineering | @ncitron | | United Kingdom | Growth | @MrMadila | | APAC | Product | @cavalier_eth | | APAC | APAC Business Development | pujimak\_in | # Voting FOR: DO create an Operations Account on Polygon Network AGAINST: DO NOT create an Operations Account on Polygon Network # Copyright Copyright and related rights waived via [CC0](https://creativecommons.org/publicdomain/zero/1.0/). ---
**Author:** ![oneski22](https://avatars.discourse-cdn.com/v4/letter/o/65b543/32.png) [@oneski22](https://gov.indexcoop.com/u/oneski22)\ **Post date:** [21 November 2021 05:39 UTC](https://gov.indexcoop.com/t/iip-111-create-an-operations-account-on-polygon-network/3247/2 "2021-11-21T05:39:25Z")
strongly support, having a wallet presence on all chains is important for the Coop. Disclosure: I would be a proposed signer on this Multisig. ---
**Author:** ![Matthew\_Graham](https://yyz1.discourse-cdn.com/flex027/user_avatar/gov.indexcoop.com/matthew_graham/32/1336_2.png) [@Matthew\_Graham](https://gov.indexcoop.com/u/Matthew_Graham)\ **Post date:** [24 November 2021 09:52 UTC](https://gov.indexcoop.com/t/iip-111-create-an-operations-account-on-polygon-network/3247/3 "2021-11-24T09:52:49Z")
Hi @mel.eth, @sixtykeys, @Mringz, Kindly, can we please add an IIP number, amend the status to propose and schedule a snapshot vote for Monday 29th November. Thank you in advance. ---
**Author:** ![sixtykeys](https://yyz1.discourse-cdn.com/flex027/user_avatar/gov.indexcoop.com/sixtykeys/32/3632_2.png) [@sixtykeys](https://gov.indexcoop.com/u/sixtykeys)\ **Post date:** [24 November 2021 22:21 UTC](https://gov.indexcoop.com/t/iip-111-create-an-operations-account-on-polygon-network/3247/4 "2021-11-24T22:21:38Z")
Hey @Matthew_Graham , an IIP number 111 has been assigned to this proposal, and the status has been changed to ‘Proposed’. Just noting that a snapshot vote can only be called after 48 hours of a proposal changing to the ‘Proposed’ state as per the guidelines outlined [here](https://docs.indexcoop.com/community/governance/index-improvement-proposals-iips/iip-step-by-step). But will accept your call to vote in advance in an effort to make the governance process easier 🙂. Will update this space with a queued snapshot link once the 48 hour waiting period has elapsed. cc: @mel.eth ---
**Author:** ![sixtykeys](https://yyz1.discourse-cdn.com/flex027/user_avatar/gov.indexcoop.com/sixtykeys/32/3632_2.png) [@sixtykeys](https://gov.indexcoop.com/u/sixtykeys)\ **Post date:** [29 November 2021 12:23 UTC](https://gov.indexcoop.com/t/iip-111-create-an-operations-account-on-polygon-network/3247/5 "2021-11-29T12:23:43Z")
This proposal has been queued on snapshot to go live later today at 1800 UTC. [Snapshot here](https://snapshot.org/#/index-coop.eth/proposal/0x4dee2def2333c40a5fdbe244cc0e641f099acb44edccc9ba8101dfbf37555353) ---
**Author:** ![Matthew\_Graham](https://yyz1.discourse-cdn.com/flex027/user_avatar/gov.indexcoop.com/matthew_graham/32/1336_2.png) [@Matthew\_Graham](https://gov.indexcoop.com/u/Matthew_Graham)\ **Post date:** [3 December 2021 15:17 UTC](https://gov.indexcoop.com/t/iip-111-create-an-operations-account-on-polygon-network/3247/6 "2021-12-03T15:17:59Z")
Hi All, The Polygon Network Operations Account has been created and holds 200 MATIC. Wallet Address: ‘[0xDECC5b013C74d8d3cEf1F8918768DDa17490B505](https://polygonscan.com/address/0xDECC5b013C74d8d3cEf1F8918768DDa17490B505)’ All signers have been added to the 3 of 11 multisig.