PWG - Request for Funding (01Jul21 to 30Sep21) - *** POLL ADDED 14Jul21 ***

Product Working Group - Request for Funding (01st July 2021 to 30th September 2021)


What are you proposing? I am proposing the formation and funding of a Product Working Group for 3 months ending on 30th September 2021.

What is the core problem(s) you want to solve?

  • The INDEXcoop has limited resources (Capital, Engineering, Marketing, Business Development, Design, Coordination) and a vast space to work in.
  • We have the ideas to launch almost endless index funds, the challenge is to ensure that we are focused on what the customer needs and what the coop can deliver.
  • [Note, to try and remove ambiguity, I’ll use “fund” to refer to the on-chain structured product and “product” to refer to the wider concept of the WG’s goals.]

Why is this worth addressing today?

Managing the coops’ methodologists, pipeline of ideas, current products, liquidity and resources is an essential function for the coop. The Product Working Group is intended to be the central coordinating function within the coop.

How will you address it?

Over the last three months the PWG has successfully used a number of organisation structures:

  • The Leveraged Products POD was created with a core of new coop contributors and has rapidly taken on responsibility for parameter changes, analytical models, Bots and documentation.
  • Work teams have looked at product prioritisation and uniswap v3. These have typically benefited from significant support from Senior coop members (Full time, AWG, TWG, and BD).

Going forward we will build on these structures and create new POD’s and work teams with the intention of delegating responsibility within focused areas.

What impact will this project have?

  • Facilitate the launch of four financial fund Products (total of 8 products by the end of Q3).
  • Maintain L1 liquidity for all products so purchases can be made via DEX trades or exchange issuance with < 1% slippage.
  • Dominate on-chain liquidity for each product sector.
  • Improve the coops non-financial / fund product structures.
  • Improve our understanding of our portfolio and help educate our customers.

Working Group Leaders

  • Overanalyser
  • Punia

Request for funding

Proposed Budget:

$39,000 + 190 INDEX per month for three months +$1 K expenses = $118,000 + 570 INDEX (USD paid in INDEX tokens based on monthly TWAP as per coop standard practice).

Use of Funds:

  • Leader Stipend - OverAnalyser: Fixed: 190 INDEX + $4,000 (all as INDEX).

  • Leader Stipend - Punia: Seconded from SET

  • Leveraged products POD: Upto 25 K per month

  • Other PWG contributors (@catjam and others): Upto $10 K per month

  • Misc cost reimbursement: Upto $ 1 k as required


  1. Under the old system in May we paid ~ $33K and in June ~$28 K, so we are allowing for expansion of the contributor numbers and activity level.
  2. We are also actively looking to improve our project management capabilities by on-boarding a product / project management specialist (within the above budget)
  3. 190 INDEX + $4000 Leader stipend = the $8 Stipend in May and June at $21 INDEX (Slightly above June contributor TWAP)
  4. As before, we will also draw heavily on senior members of the coop who are rewarded via other budgets / stipends:

Community contribution to Product Working Group

From the start of June 2021 contributor rewards are allocated to an area, and then working group leads assign a reward per person for their area.

PWG rewards will be allocated based on:

  • Managing current products
  • Maintaining liquidity
  • Product prioritisation and launch
  • Communication of PWR activities
  • Working with methodologists to refine proposals(*)

PWG rewards will not be given for:

  • Attendance at meetings
  • General forum posts
    • Fund proposal development where the person has an external incentive to do it (Methodologist etc)
  • Working with other protocols to extend extrinsic productivity.

Organization - How will it work?

What will you be doing?

  • Continue building out expertise and management of leveraged products within the Leveraged Product Pod.
  • Maintain product prioritization, communication with methodologists prior to DG2
  • Manage the launch of products that pass DG2
  • Manage product liquidity on L1 (~1% slippage for any size trade via on chain liquidity / exchange issuance). This should ensure products stay close to +/- 1% of NAV.
  • Work wirth EWG to prioritise and manage Engineering resource
  • Manage non financial product prioritisation.

This will rely on dedicated pods and ad-hoc work teams as required.

How will you interface with the community?

  • Weekly PWG calls.
  • Forum posts and discord.
  • 1 to 1’s with core community members.
  • Cross functional groups where required.


I am committed to Index Coop principles

I am committed to serving the entire Index Coop with my work.

I am committed to open, rapid communication: I know that clear, constant, public communication lifts up the entire Index Coop community. I am committed to this style of communication.

Shared learnings: I will share my progress, learnings with the entire community. I will ensure that anything I create is accessible beyond my own tenure for future generations of Indexers to access & build on.

Intellectual honesty: I am committed to growth and improvement. I am open to feedback and will use feedback to improve my work for the benefit of the entire Coop community.

I am committed to making Index Coop a welcoming, fun, and engaging community to work in!

  • FOR - Fund PWG as specified 01Jul21 to 30 Sept21
  • AGAINST - Revert to community contributor rewards

0 voters


this point here really speaks a lot to me regarding the future success of FLI products which no doubt will need much focus in the coming months!

great proposal @overanalyser :slight_smile:

1 Like

Hey OA, doesn’t seem to be anything contentious here so just want to confirm you are happy with the budget below before we move on the Funding Council grant #4:

Which means FC request 570 INDEX + $115k in INDEX at the time of request, to be held in the FC wallet for monthly reward distributions. A further $3k will be sent to PWG wallet (or held by FC if preferred) for misc reimbursements.

1 Like

Sounds correct to me thank you.

Writing FOR here to bring this back to the top on the front page so people don’t miss voting on an important WG!

1 Like

@overanalyser can you confirm the wallet address to which requested funds should be sent?

Hi @gregdocter / @DarkForestCapital

I do not want any funds transferred to a PWG account. I’m not expecting significant expenses at this time, so I think it’s less work for everyone top hold the “$1 K expenses” in the TC wallet and capture in the monthly contribution flow (if required).



1 Like

thanks for the confirmation :pray: