Hi @mel.eth,
Very unfortunate timing with this contributor raise. It was hard to gauge what level of community involvement there would be with this proposal and to date, no one has been in touch about the offer. From a treasury diversification perspective, this proposal was always upside.
The Balancer Private Pool was envisage to raise $5M of ETH by selling INDEX. We were open to executing the Balancer Private Pool twice over a 6 month period which would have been $10M. It would have been nice to have somewhere between $15M-$20M in non INDEX assets around years end. This was never a firm target or committed to goal, it still feels like a really safe amount to have. We mention the ability to sustain Index Coop entire from income generated by the treasury in the our treasury diversification post here.
As a community, our forecasting and forward planning is not yet at a point where we can say exactly what we need. Our cost base is heavily influence by Liquidity Mining and to a lesser extent rebalancing costs which Set Labs is currently paying on Index Coop’s behalf.
At this point in time, it feels like a stretch to attaint $15M-$20M, but if market conditions change, then we will revisit the Balancer option. When the market is buoyant, daily trading volume appears to be a lot higher.