IIP-56 Extension to FLI Parameter Delegation

IIP: 56

Title: Extension to FLI Parameter Delegation

Status: Proposed

Author: @overanalyser

Created: 8th July 2021

Simple Summary

To extend IIP-45 for the delegation of parameter management to a small team of subject matter experts for 6 months to 31st January 2022.


IIP-45 created a dedicated group of representatives of the methodologist (DeFi Pulse), engineering (Set Labs) and Index Coop contributors who were given the authority to make changes to FLI product parameters for ~10 weeks. This proposal extends that mandate for a further 6 months.

This delegation of responsibility will expire on the 31st January 2022.


IIP-45 was proposed to allow the management of leveraged products by subject matter experts without requiring individual IIP’s.

This delegated authority has been in effect with a number of parameter changes being made e.g.:

While some larger changes to leveraged products have continued to require IIP’s and snapshot votes as they are outside the scope of the delegation. E.g. Multiple exchange support

On the whole, the delegation of responsibility has worked as planned to reduce governance overhead while allowing the Leveraged Products POD to act quickly on behalf of the INDEXcoop.

I’m not aware of any negative feedback regarding the implementation of IIP-45.


Four changes have been made to the specification:

  • Extension to 31st January 2022
  • “Rebalancing exchange venue” has been removed from In scope parameters.
  • “Recentering speed” has been added to out of scope parameters.
  • Addition of @tgreco to the community members listed.

The FLI work team will be comprised of individuals within three sub groups:

The process will be:

  1. The FLI work team will discuss and identify parameter change requirements via discord / calls etc.
  2. One member of the FLI work team will post a short description of the reasoning for the change to the forum and state that the FLI work team is in agreement (a poll is not required).
  3. At least 24 hours notice in the forum without any dissent from a FLI team work Team member.
  4. The change can then be made once these criteria are met.

In scope parameters include:

  • Supply Cap
  • Max Trade Size
  • Slippage tolerance during rebalances

Out of scope parameters include:

  • Changes to the bot whitelist parameter (e.g. IIP-39 2)
  • Fees of the product
  • Recentering Speed

This delegation will expire on the 31st January 2022.

IIP vote specification:


  • Extend the mandate for the FLI work team and delegate parameter control to the specified individuals until 31st January 2022.


  • Allow Delegation to lapse on the 31st July 2021, and revert to IIP and Snapshot for future parameter changes.

In line with IIP Step-by-Step - Index Coop Community Handbook I would like to request that this proposal goes to Vote on Monday 12th July 2021.

If there are any changes to the proposal before the snapshot goes live, I’ll highlight them.


This has been upgraded with an IIP number and announced in Discord.

Snapshot vote has been called for Monday, which is after the 48 hour waiting period.

As such this will be queued for Snapshot vote on Monday.


Vote is now queued on Snapshot for Monday July 12



A reminder from GovOps that the planned specification of this IIP ends in under 90-days (31JAN22).

No current action is requested, this is a courtesy reminder.

cc: @snasps @Jo_K @puniaviision @setoshi @richard @tgreco @allan.g @emault @afromac
cc: @sixtykeys @Lavi @Mringz