# \*\*POLL ADDED\*\* Proposal: Institutional Business Working Group II Request for Funding - Q4 2021 **URL:** \ **Category:** Proposal\ **Created:** [6 October 2021 17:21 UTC](https://gov.indexcoop.com/t/poll-added-proposal-institutional-business-working-group-ii-request-for-funding-q4-2021/2887 "2021-10-06T17:21:49Z")\ **Posts on this page:** 18\ **Page:** 1
**Author:** ![Metfanmike](https://yyz1.discourse-cdn.com/flex027/user_avatar/gov.indexcoop.com/metfanmike/32/1034_2.png) [@Metfanmike](https://gov.indexcoop.com/u/Metfanmike)\ **Post date:** [6 October 2021 17:21 UTC](https://gov.indexcoop.com/t/poll-added-proposal-institutional-business-working-group-ii-request-for-funding-q4-2021/2887/1 "2021-10-06T17:21:50Z")
authors: @Metfanmike @Fallow8 ### Summary Objective We are proposing Q4 funding (October 1st, 2021 to December 31st, 2021) to continue the Institutional Business Working Group. ### Background The Institutional Business Working Group (IBWG) is the primary resource for high-net-worth and institutional investors (HNW/II) interested in the Index Cooperative product suite. Institutional interest in DeFi continues to increase and has the potential to drive massive growth in Index Coop product TVL as institutions move beyond exposure to bitcoin and ether. The IB strategy began as a sub-vertical within the BDWG and became a [full-fledged working group in mid-July 2021](https://gov.indexcoop.com/t/proposing-an-institutional-business-working-group/1965). This post will report the group’s progress against Q321 goals, share lessons learned, and detail the group’s goals for Q4. ### Strategy Thus far, the group has pursued a two-pronged strategic focus on infrastructure and education/awareness. This strategy was informed by [conversations with various types of HNW/II investors during spring 2021](https://gov.indexcoop.com/t/investor-relations-q2-and-beyond/1361) and has been continually refined ever since. - **Infrastructure.** The IBWG’s goal is to ensure Index Cooperative products are supported across the institutional ecosystem to meet HNW/II needs for security and execution. The tactics employed are: - **Education.** IBWG aims to make HNW/IIs aware of the key crypto themes to which IC products provide passive exposure, like the Metaverse or DeFi. The tactics employed to drive awareness are: ### Working Group KPIs / North Star Metrics - Increase in unincentivized supply growth & unincentivized AUM - Increase in total holders - Centralized exchange and custodian listings for IC products - Expanded purchasing options and market depth for institutional buyers - Position the Coop as a thought leader in the digital asset management space ### Q3 Accomplishments - **Infrastructure** - **Education/Awareness** ### Strategy Expansion - During Q3, @ajay55 and @Eric_Tomaszewski began working on how to attract/engage with family offices and registered investment advisors (RIAs) and will be converting that effort into a formal IBWG vertical in Q4. - Why Family Offices? - Generally, family offices are more nimble than other types of institutional investors and can modify an investment strategy more quickly to incorporate new assets classes like crypto assets. - Why RIAs? - RIAs are trusted conduits to access more potential holders. Per an NYDIG Survey early this year, financial advisors have always been considered the trusted guides to help clients navigate an ever-changing financial world. Not surprisingly, that includes new asset classes, like cryptocurrency. 82% of clients expect their advisors to be knowledgeable, but only 21% of clients have brought it up. Understanding this gap and closing it is critical. - Clients and advisors alike want access to cryptocurrency yet there are specific hurdles that stand in the way. The regulatory market is nuanced, education is lacking, and access isn’t simplified or streamlined in a preferred way for advisor comfort. - Ajay and Eric will be working to: - Tailor educational content that speaks to this audience. - Access fintech platforms that represent potential bridges to advisory firm assets. - Secure support for IC products on leading platforms that family offices and advisors look to for alternative assets. - Partnerships with fintech retail platforms represent another emerging focus for IBWG. - Platforms like Robinhood are moving into crypto, providing additional places to list Index Coop products in order to access the mainstream market outside of centralized exchanges. ### Q4 Responsibilities - Relationships with Market Makers - Institutional Investor Service Provider Listings (Custodians, Prime Brokerage) - Institution-targeted educational content (materials, webinars) - Centralized Exchange Listings - Integration with RIA Digital Asset Service Providers - Outreach to family offices interested in digital assets ### Q4 Goals - Attract $10mm in new AUM from IBWG efforts. - Launch effort to list IC products on centralized exchanges. - Meet with Wintermute to develop prioritization and framework. - Secure legal opinion on Index Coop thematic products to help tee up centralized exchange listings. - Connect with Tier I exchanges and manage the token application process until we have support. - Conduct at least two webinars with custodians on key crypto themes. - Continue working to have DPI supported at more custodians. Our goal is an additional two Tier I custodians. We will also work with existing custodian partners to build processes for supporting non-DPI products. - Organize IBWG Notion and onboarding process. ### Team Working Group Leaders - Nate (@fallow8) - Mike (@Metfanmike) Core contributors - Ajay (@ajay55) - Eric (@Eric_Tomaszewski / @terik\_boberik on Discord) ### Organization - How will it work? - The IBWG will be led by two community members with an established track record of long-term, high-leverage contributions to the Coop. The two co-leads will be directly accountable to the broader Coop community for the execution of the stated objectives. - Listed core contributors will have subject matter responsibility for the listed verticals and receive a fixed stipend. - IBWG leaders will award discretionary payments to incentivize activities that directly enable the WG to accomplish its strategic priorities. - The IBWG will host weekly meetings that are open to the entire community and we encourage attendance and participation. ### Funding Ask We are requesting a budget of $124,000 and 2700 INDEX for the next three months. | Assumed INDEX price | $36.12 | | | | | | --- | --- | --- | --- | --- | --- | | | | | | | | | | Oct/2021 | Nov/2021 | Dec/2021 | | Total | | Contributor Rewards | | | | | | | Working Group Leaders | $21,672 | $21,672 | $21,672 | | $65,016 | | Nate - 100% Fixed INDEX | 300 | 300 | 300 | | 900 | | Mike - 100% Fixed INDEX | 300 | 300 | 300 | | 900 | | Core Contributors (50% commitment) | $10,836 | $10,836 | $10,836 | | $32,508 | | Ajay - 100% Fixed INDEX | 150 | 150 | 150 | | 450 | | Eric - 100% Fixed INDEX | 150 | 150 | 150 | | 450 | | Additional Contributors | $3,500 | $7,000 | $10,500 | | $21,000 | | Total Contributor Rewards | $36,008 | $39,508 | $43,008 | | $118,524.00 | | Assumed Additional Contributors | 1 | 2 | 3 | | | | | | | | | | | Operational Expenses | | | | | | | Legal Expenses for Security Review | $25,000 | $25,000 | $25,000 | | $75,000 | | License for Family Office Database | $0 | $16,000 | $0 | | $16,000 | | Events/Conferences | $0 | $0 | $12,000 | | $12,000 | | Total Operational Expenses | $25,000 | $41,000 | $37,000 | | $103,000.00 | | | | | | | | | Total Expenses | $61,008 | $80,508 | $80,008 | | $221,524.00 | | | | | | | | | | | | | | | | | | | Total INDEX | | 2700 | | | | | Total $ | | $124,000 | - We are budgeting $75k for the legal work required to get a security opinion on Index Cooperative products. In our discussions with custodians/exchanges, this is a common ask. This figure is based on estimates received previously. We will make every attempt to be efficient (either from a cost perspective or picking up EU coverage as well). - We are exploring getting access to a database of family office contacts and have included that ask. This product could greatly assist in our outreach efforts. We are getting a demo of the product soon, but it is possible that we do not move forward. ### Commitments We are committed to [Index Coop principles 1](https://docs.indexcoop.com/our-guiding-principles) We are committed to serving the entire Index Coop with our work. We are committed to open, rapid communication: We know that clear, constant, public communication lifts up the entire Index Coop community. We are committed to this style of communication. Shared learnings: We will share our progress and learnings with the entire community. We will ensure that anything I create is accessible beyond our own tenure for future generations of Indexers to access & build on. Intellectual honesty: We are committed to growth and improvement. We are open to feedback and will use feedback to improve my work for the benefit of the entire Coop community. We are committed to making Index Coop a welcoming, fun, and engaging community to work in! _Poll ([view on site](https://gov.indexcoop.com/t/poll-added-proposal-institutional-business-working-group-ii-request-for-funding-q4-2021/2887/1))_ ---
**Author:** ![pujimak\_in](https://yyz1.discourse-cdn.com/flex027/user_avatar/gov.indexcoop.com/pujimak_in/32/1921_2.png) [@pujimak\_in](https://gov.indexcoop.com/u/pujimak_in)\ **Post date:** [6 October 2021 17:40 UTC](https://gov.indexcoop.com/t/poll-added-proposal-institutional-business-working-group-ii-request-for-funding-q4-2021/2887/2 "2021-10-06T17:40:22Z")
I’m super FOR this!!! IBWG outreach from Mainnet and that Wintermute proposal was the highlight for IBWG I… can’t wait what Q4 is going to be!!! Hyper bullish on IBWG!! p.s. wen T1 exchange listing. Lol. 😛 ---
**Author:** ![mrvls\_brkfst](https://yyz1.discourse-cdn.com/flex027/user_avatar/gov.indexcoop.com/mrvls_brkfst/32/401_2.png) [@mrvls\_brkfst](https://gov.indexcoop.com/u/mrvls_brkfst)\ **Post date:** [6 October 2021 18:54 UTC](https://gov.indexcoop.com/t/poll-added-proposal-institutional-business-working-group-ii-request-for-funding-q4-2021/2887/3 "2021-10-06T18:54:15Z")
An inspirational team with an inspirational proposal. Looking forward to seeing the group grow and power through Q4! ---
**Author:** ![anon10525910](https://avatars.discourse-cdn.com/v4/letter/a/97f17d/32.png) [@anon10525910](https://gov.indexcoop.com/u/anon10525910)\ **Post date:** [6 October 2021 20:59 UTC](https://gov.indexcoop.com/t/poll-added-proposal-institutional-business-working-group-ii-request-for-funding-q4-2021/2887/4 "2021-10-06T20:59:16Z")
Brief table setting - I’m putting on my “Funding Council” hat to pose questions (See [Q4 Working Group Guidance](https://gov.indexcoop.com/t/q4-working-group-guidance/2743)to learn more about Working Group proposals) - My intent is to ask the questions that ping in my mind with the hope that they help the entire Coop better understand the proposal and thinking behind it. - Questions are pretty much posed in the order the topic appears in the post. - If a question doesn’t make sense or is entirely off-base, do call it out 🙂 * * * > [@Metfanmike](#): > > It’s difficult to measure attribution for events. These campaigns intend to drive brand awareness and product awareness. We experimented with using POAP badges for the event. Based on your learnings, do you expect to run another POAP experiment? Put another way, was the juice worth the squeeze such that you’d test it again? > [@Metfanmike](#): > > Tracking Performance: Attribution is also tricky here. Understood – is there any anecdotal/qualitative evidence that points to why conferences continue to be an important part of the IB playbook? > [@Metfanmike](#): > > Why Family Offices? A question that may come to mind for folks is, “what is a ‘family office’”? Adding the [Investopedia](https://www.investopedia.com/terms/f/family-offices.asp) definition, “Family offices are private wealth management advisory firms that serve ultra-high-net-worth individuals (HNWI)” > [@Metfanmike](#): > > Secure support for IC products on leading platforms that family offices and advisors look to for alternative assets. Do we have an understanding of what those platforms are? Simply curious. Perhaps that research still needs to be done. > [@Metfanmike](#): > > Partnerships with fintech retail platforms What stage of exploration is this ^ initiative at? Do we have an idea of what it would take for Coop products to get listed on such platforms? > [@Metfanmike](#): > > We are budgeting $75k for the legal work required to get a security opinion on Index Cooperative products. Is this different than the legal opinion that I believe was obtained for the Kucoin listing? If yes, how so? > [@Metfanmike](#): > > License for Family Office Database No question here, just noting that “what is this?” pinged in my head. Then I noticed the 2nd bullet that address it specifically. ---
**Author:** ![0x\_Dev](https://yyz1.discourse-cdn.com/flex027/user_avatar/gov.indexcoop.com/0x_dev/32/3906_2.png) [@0x\_Dev](https://gov.indexcoop.com/u/0x_Dev)\ **Post date:** [6 October 2021 22:36 UTC](https://gov.indexcoop.com/t/poll-added-proposal-institutional-business-working-group-ii-request-for-funding-q4-2021/2887/5 "2021-10-06T22:36:00Z")
Would love to see IBWG keep humming and (C)DWG is ready to help with all the assets you need. Very much FOR ---
**Author:** ![BigSky7](https://yyz1.discourse-cdn.com/flex027/user_avatar/gov.indexcoop.com/bigsky7/32/2629_2.png) [@BigSky7](https://gov.indexcoop.com/u/BigSky7)\ **Post date:** [7 October 2021 00:22 UTC](https://gov.indexcoop.com/t/poll-added-proposal-institutional-business-working-group-ii-request-for-funding-q4-2021/2887/6 "2021-10-07T00:22:43Z")
I have learned a ton working with @Metfanmike and @fallow8 - they have a powerful vision for this working group and I am confident it will be a major driver of the Coop’s long-term success. 🚀 ---
**Author:** ![oneski22](https://avatars.discourse-cdn.com/v4/letter/o/65b543/32.png) [@oneski22](https://gov.indexcoop.com/u/oneski22)\ **Post date:** [7 October 2021 09:51 UTC](https://gov.indexcoop.com/t/poll-added-proposal-institutional-business-working-group-ii-request-for-funding-q4-2021/2887/7 "2021-10-07T09:51:17Z")
> [@Metfanmike](#): > > We are budgeting $75k for the legal work required to get a security opinion on Index Cooperative products. @anon10525910 The one obtained for KuCoin only covered Singapore IIRC, this is for US/multi-jurisdiction letter IIRC ---
**Author:** ![Metfanmike](https://yyz1.discourse-cdn.com/flex027/user_avatar/gov.indexcoop.com/metfanmike/32/1034_2.png) [@Metfanmike](https://gov.indexcoop.com/u/Metfanmike)\ **Post date:** [7 October 2021 13:51 UTC](https://gov.indexcoop.com/t/poll-added-proposal-institutional-business-working-group-ii-request-for-funding-q4-2021/2887/8 "2021-10-07T13:51:03Z")
@anon10525910 Great questions and appreciate the opportunity to clarify: > [@anon10525910](#): > > > [@Metfanmike](#): > > > > It’s difficult to measure attribution for events. These campaigns intend to drive brand awareness and product awareness. We experimented with using POAP badges for the event. > > Based on your learnings, do you expect to run another POAP experiment? > Put another way, was the juice worth the squeeze such that you’d test it again? Yes. The cohort from the 7/15 event providing ETH addresses to us increased their DPI holdings on average by 250%+ ($7.5mm of value), and it was free to generate the POAPs to commemorate the event. There was manual labor in minting the badges, but a lesson learned was that collecting ETH addresses and minting one by one manually is far superior to sending out individual POAP links to attendees because the up-take is not guaranteed (doing manually on your own is guaranteed). First, I want to better understand this particular cohort. Some questions I have for @jdcook to dig a layer deeper into this cohort: 1) how many folks bought DPI for the first time after the event? 2) How long after the event did folks buy? 3) What was the median holding before and after? (ie, let’s remove outlier purchases that might be driving up the average) 4) What was the max and min holdings for the cohort, post-event? 5) Did this cohort go on to buy any other IC products outside of DPI? And then I’d want to see if we had similar results at a future event to validate any findings from the first go-around. Was that a fluke, or does the trend roughly hold up? If we could gain a higher degree of confidence that there is some causality here - given the observations - that would be very powerful in my opinion. > [@anon10525910](#): > > > [@Metfanmike](#): > > > > Tracking Performance: Attribution is also tricky here. > > Understood – is there any anecdotal/qualitative evidence that points to why conferences continue to be an important part of the IB playbook? 100%. We met BitGo at BItcoin Miami, and they subsequently became the first qualified custodian to support DPI, then INDEX, and soon to be more IC products. Event attendees are key nodes in the crypto space. Being able to speak to them face-to-face and answer their questions/potential objections live is invaluable. We spend the entire conference exposing new folks to Index, building new relationships, and deepening existing ones. Getting the opportunity to speak at Mainnet and Token2049 kicks things up a notch as we’re building a reputation for thought leadership in the decentralized asset management space. We not only elevate the Index brand but crowd out the competition, who are no where to be found at these events. That all said, it’s very important to execute on a conference strategy to keep things cost effective and lean. That’s always part of our calculus in determining which events we attend and how we attend them (side events vs. actual attendance). > [@anon10525910](#): > > > [@Metfanmike](#): > > > > Why Family Offices? > > A question that may come to mind for folks is, “what is a ‘family office’”? > > Adding the [Investopedia](https://www.investopedia.com/terms/f/family-offices.asp) definition, “Family offices are private wealth management advisory firms that serve ultra-high-net-worth individuals (HNWI)” Your definition is perfect. A family office may be solely for the benefit of a single individual or single family - or may service multiple families. Because it’s the family’s money, they are far more flexible and nimble than other institutional investors that are beholden to a particular investment mandate (e.g., investing in U.S. fixed income markets, for example). That allows them to be more opportunistic, which are exactly the investor types that we’d like to attract to IC products. FINTRX is the family office software Eric has sourced. Ajay and Eric will be meeting with them to see a proper demo to help asses if this is a must-have tool for sourcing family offices. There are other platforms like Blockchange that help advisors access crypto assets on behalf of their end clients. > [@anon10525910](#): > > > [@Metfanmike](#): > > > > Partnerships with fintech retail platforms > > What stage of exploration is this ^ initiative at? > > Do we have an idea of what it would take for Coop products to get listed on such platforms? This is relative nascent. We’re in the outreach stage so a lot more to learn here about process/timing. > [@anon10525910](#): > > > [@Metfanmike](#): > > > > We are budgeting $75k for the legal work required to get a security opinion on Index Cooperative products. > > Is this different than the legal opinion that I believe was obtained for the Kucoin listing? > If yes, how so? @oneski22 answered this. That work for only for the Singapore letter, which is not enough for what we’ll need in the US and Europe. > [@anon10525910](#): > > > [@Metfanmike](#): > > > > License for Family Office Database > > No question here, just noting that “what is this?” pinged in my head. > > Then I noticed the 2nd bullet that address it specifically. Yep - this is the FINTRX platform. Any other questions, let us know! ---
**Author:** ![Metfanmike](https://yyz1.discourse-cdn.com/flex027/user_avatar/gov.indexcoop.com/metfanmike/32/1034_2.png) [@Metfanmike](https://gov.indexcoop.com/u/Metfanmike)\ **Post date:** [7 October 2021 13:51 UTC](https://gov.indexcoop.com/t/poll-added-proposal-institutional-business-working-group-ii-request-for-funding-q4-2021/2887/9 "2021-10-07T13:51:49Z")
@anon10525910, if you’re happy with these responses, should we move to the poll? ---
**Author:** ![anon10525910](https://avatars.discourse-cdn.com/v4/letter/a/97f17d/32.png) [@anon10525910](https://gov.indexcoop.com/u/anon10525910)\ **Post date:** [7 October 2021 14:42 UTC](https://gov.indexcoop.com/t/poll-added-proposal-institutional-business-working-group-ii-request-for-funding-q4-2021/2887/10 "2021-10-07T14:42:08Z")
Indeed 👍 [side note – answers need not satisfy me personally, though I did find the answers illuminating and helpful!] ---
**Author:** ![Metfanmike](https://yyz1.discourse-cdn.com/flex027/user_avatar/gov.indexcoop.com/metfanmike/32/1034_2.png) [@Metfanmike](https://gov.indexcoop.com/u/Metfanmike)\ **Post date:** [7 October 2021 16:57 UTC](https://gov.indexcoop.com/t/poll-added-proposal-institutional-business-working-group-ii-request-for-funding-q4-2021/2887/11 "2021-10-07T16:57:12Z")
The poll is now live! ---
**Author:** ![mel.eth](https://yyz1.discourse-cdn.com/flex027/user_avatar/gov.indexcoop.com/mel.eth/32/3539_2.png) [@mel.eth](https://gov.indexcoop.com/u/mel.eth)\ **Post date:** [8 October 2021 17:53 UTC](https://gov.indexcoop.com/t/poll-added-proposal-institutional-business-working-group-ii-request-for-funding-q4-2021/2887/12 "2021-10-08T17:53:43Z")
The impact by leaders and contributors in this WG has been HUGE. Excited to see what Q4 brings and will support this WG in any way I can! ---
**Author:** ![0x\_Dev](https://yyz1.discourse-cdn.com/flex027/user_avatar/gov.indexcoop.com/0x_dev/32/3906_2.png) [@0x\_Dev](https://gov.indexcoop.com/u/0x_Dev)\ **Post date:** [8 October 2021 23:37 UTC](https://gov.indexcoop.com/t/poll-added-proposal-institutional-business-working-group-ii-request-for-funding-q4-2021/2887/13 "2021-10-08T23:37:39Z")
Voted FOR here as there was not a more strongly FOR option. This was also extremely interesting to learn and further justifies the budget in my mind: > We not only elevate the Index brand but crowd out the competition, who are no where to be found at these events. People really are the human nodes of the network - and you reach a good amount of them via conferences. ---
**Author:** ![pujimak\_in](https://yyz1.discourse-cdn.com/flex027/user_avatar/gov.indexcoop.com/pujimak_in/32/1921_2.png) [@pujimak\_in](https://gov.indexcoop.com/u/pujimak_in)\ **Post date:** [10 October 2021 17:04 UTC](https://gov.indexcoop.com/t/poll-added-proposal-institutional-business-working-group-ii-request-for-funding-q4-2021/2887/14 "2021-10-10T17:04:57Z")
Hoot hoot!!! Super stocked!! Waiting for the OFFICIAL announcement. But again, congrats to the IBWG II team… ONWARDS!!! 🔥🔥🔥 ---
**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:** [10 October 2021 19:40 UTC](https://gov.indexcoop.com/t/poll-added-proposal-institutional-business-working-group-ii-request-for-funding-q4-2021/2887/15 "2021-10-10T19:40:18Z")
![Screenshot 2021-10-10 at 19.08.52](https://canada1.discourse-cdn.com/flex027/uploads/theindexdao/original/2X/f/fe430e5b2674b4c06e30390669fc50ad1e77f2b3.png) Hi @Metfanmike and @fallow8, Compared to some of the other WGL rates going around - the 300 INDEX per month feels light on. Also noting the slightly different between the $36.12 and $35 per INDEX used by other WGs. I think we tweak the USD/INDEX rate to $35 and then, we either increase the quantity of INDEX per month for IBWG or reduce other WGLs down. I am a massive fan of getting the legal letter, especially if it is from a US based law firm. I really do like the focus on the Tier I market space and after attending Token2049, we need to focus on removing blockers so the wave of institutional money coming into the space can find its way to our products. A fully built out institutional network is a massive competitive advantage in this industry. I like the family office idea and I also think having additional budget to attend more conferences, if you so wish, would be good. Also, this is something I will be reaching out to both of you about Aave ARC. A DPI listing here, will unlock doors for IBWG. [Add Fireblocks as a whitelister on Aave Arc - Governance - Aave](https://governance.aave.com/t/add-fireblocks-as-a-whitelister-on-aave-arc/5753) ---
**Author:** ![anon10525910](https://avatars.discourse-cdn.com/v4/letter/a/97f17d/32.png) [@anon10525910](https://gov.indexcoop.com/u/anon10525910)\ **Post date:** [11 October 2021 20:21 UTC](https://gov.indexcoop.com/t/poll-added-proposal-institutional-business-working-group-ii-request-for-funding-q4-2021/2887/16 "2021-10-11T20:21:00Z")
> [@Metfanmike](#): > > $124,000 and 2700 INDEX for the next three months. Simple confirmation here - $124,000 in INDEX - 2,700 INDEX All to be held by the FC Wallet [ack. IIP-90] Am i getting that correct? ---
**Author:** ![fallow8](https://yyz1.discourse-cdn.com/flex027/user_avatar/gov.indexcoop.com/fallow8/32/607_2.png) [@fallow8](https://gov.indexcoop.com/u/fallow8)\ **Post date:** [13 October 2021 15:18 UTC](https://gov.indexcoop.com/t/poll-added-proposal-institutional-business-working-group-ii-request-for-funding-q4-2021/2887/17 "2021-10-13T15:18:44Z")
Edit: please disregard prior message. Need to discuss something with @Metfanmike first ---
**Author:** ![ElliottWatts](https://yyz1.discourse-cdn.com/flex027/user_avatar/gov.indexcoop.com/elliottwatts/32/878_2.png) [@ElliottWatts](https://gov.indexcoop.com/u/ElliottWatts)\ **Post date:** [1 November 2021 09:44 UTC](https://gov.indexcoop.com/t/poll-added-proposal-institutional-business-working-group-ii-request-for-funding-q4-2021/2887/18 "2021-11-01T09:44:33Z")
Hi @fallow8 and @Metfanmike, Just circling back to this as we are finalizing the stipends for this month’s contributor rewards round. We currently have down 300 INDEX per month per lead. Please let me know if this is not the case.