Proposed: IIP-93 - Product Onboarding Process Improvements

Status: Proposed
Author(s): @catjam @overanalyser
Discussions-to: **Updated** Request for Feedback: New Product Onboarding Process - #24 by catjam / Product Onboarding Process Revamp
Created: Oct 11 2021

Simple Summary

‌The Product Working Group has been working through a series of changes to improve the product launch process. Our goals are to more quickly launch products, set those products up for success in the market, and create a better experience for Methodologists working with Index Coop.

There are two specific proposed changes that are included in this IIP:

  • Update the Product Proposal IIP Template
  • Institute quorum for DG1 votes (50% in favor, 5% quorum). ‌


‌Further detail on each proposed change:

Update the Product Proposal IIP Template: New template here

The current IIP template dates back to the beginning of Index Coop, starting with IIP-0 (small template updates in IIP-2). We have incorporated a year’s worth of learnings about what is needed for a successful product proposal into this template. This template is also designed to allow methodologists to show off their research, reputation, and credentials!

  • Liquidity assessment
    • Discuss whether the liquidity is expected to be self-sustaining (e.g. highly traded FLI products) or need ongoing liquidity mining.
    • Describe how Index Coop and the methodologist will commit to liquidity provision or liquidity mining to support the product, and identify any partners for liquidity provision/mining.
  • Market and customer research
    • Target customer research and needs
    • User stories
  • Costs
    • Cost to customer
    • Cost to mint / redeem
    • Rebalance frequency
    • Manual Rebalance Magnitude
    • Fee split (DG2 template only_
    • Metagovernance needs
    • Intrinsic productivity
  • Author background
    • Credentials
    • Marketing support and plans for distribution & partnerships

Institute quorum for DG1 votes (50% in favor, 5% quorum)

‌Currently there is no quorum, and products can technically begin the resource-intensive DG1 → DG2 process with a single vote of support. The DG1 quorum will remain relatively low compared to the DG2 quorum (10% quorum, 60% in favor). As our pipeline fills with more product proposals, it’s important that our scarce PWG and EWG resources focus on the products that have the most thoroughly researched scope and highest support from the community.


‌As stated in previous discussions, the current product onboarding process does not provide methodologists with clear options and pathway to launch, particularly between DG1 and live. It is unclear what the engineering requirements and constraints are and what engineering prioritization looks like. Additionally, many members of the Coop are currently unclear on the launch process and current status of product launches. Products aren’t getting launched after the technical infrastructure to scale is there.

This IIP is not the “end” of the process revamp – we intend to continue working hard on this, and roll out changes as they are needed!



Implementation for this is relatively straightforward.

IIP template: All products that have not yet proceeded to DG1 when this IIP is ratified will use this template for the whole process. All products that have passed DG1, but not DG2, will adopt this template for DG2. All currently launched products or products that have scheduled or that pass DG2 before this template is ratified will not be impacted. The PWG will actively work with methodologists to help them use and understand the new template. This template will replace the current version (found here) that was last changed in IIP-2.

Quorum for DG1: All product proposals that have not scheduled or passed DG1 at the time of ratification of this IIP will be subject to the quorum requirements. All other product proposals (past DG1) will not be impacted.


Rationale is already outlined above in pretty decent detail. I’ll use this section to review some changes that were considered but did not become part of the formal IIP!

  • PWG as primary signatory to fee negotiation. We have worked with BDWG and methodologists to make sure PWG is better represented in these discussions, including the ongoing dialogue with DFP. Given the larger ongoing discussions around fee negotiations, it did not feel prudent to pull more explicit guidelines into this process.
  • Establishment of formal liquidity analysis template. This is something that PWG, led by @overanalyser, will continue to work on, but it feels like scope creep for this process.


Copyright and related rights waived via CC0.


Tagging @mel.eth (cc - @Mringz / @sixtykeys) for IIP review & number!


Huge thanks to the methodologists who provided their time, feedback, and thoughts surrounding this process. Would love any last feedback (and hopefully, support!): @DarkForestCapital @verto0912 @Matthew_Graham @Thomas_Hepner

Also huge thanks to those who provided feedback, including the entire PWG, methodologists above, @gregdocter , @JosephKnecht , @afromac , @Monportefeuille , @Alks4778 , @Mringz , and others who we are surely forgetting but appreciate!


I will be voting FOR the new template as it is a significant improvement over the current process.

However, my expectation is this will be first of many future changes and modifications as we iterate and discover better processes over time.


Hi @catjam -

I’ll be your IIP Editor on this one. IIP No. 93 has been assigned. I’ve edited the title from, “Product Onboarding Revamp” to “Product Onboarding Process Improvements” and deleted the N/A sections from the post. Please confirm that the changes are acceptable; if you don’t anticipate any further edits please confirm that you would like this queued for voting and a start-date no sooner than Oct 15. I would recommend that the vote start on Oct 18 to allow for the entirety of the 72-hour voting-period to fall within the standard work-week, as participation tends to be higher.

Please reach out directly or respond here if you have questions.

1 Like

That sounds good. Please schedule the vote for Oct 18 as recommended. Thank you!


Voting for IIP-93 will go live on Monday October 18, 2021 at 18:00 UTC and end on Thursday October 21, 2021 at 18:00 UTC. Please vote here .

cc: @catjam @overanalyser @sixtykeys


Confirming that this IIP has passed with 357.96k INDEX (100% voting FOR) :white_check_mark:
Snapshot here