Q1 2022 budgeting process for WG's/Nests

IIP-XX or Index Council Approval: Roll forward of Q4 budget to January 31st with the potential to extend
title: Roll forward of Q4 budget to January 31st with the potential to extend
status: Draft
author: Elliott (@ElliottWatts) Reviewers: Finance.Nest (@Finance.Nest)
created: 2021-12-20

Simple Summary

The Index Coop does not currently have a framework in place to bridge the gap between the current working group structure and the migration to Nests. We have not received an expected timeline for when nests will be set up therefore F.Nest proposes to modify the Q4 budgets and roll these forward to the end of January at the earliest (with the ability to roll this forward until a satisfactory Nest framework is established)


Many working groups in the Q4 budgeting round specified a budget for a 6 month period. However, a decision was made to only allocate a 3-month budget with a review completed in December. This review is needed to continually fund the DAO and its operations to ensure appropriate allocation of resources and to be able to fund its activities for the first month of the new year. The community and compensation pod also has a proposal ready for IIP around the airdrop and DSM.

We feel it would therefore be best to roll out the nest budgets in line with the timeline for the airdrop and new compensation model. We are a month or two away from ensuring the nest structures are in place and the community is comfortable with its structure. We, therefore, feel it would not be prudent to go through the entire WG budget process at this stage as this would be distractive and counterproductive given the restructure.


Finance Nest will produce in the first week of 2022 a summary of each working groups budget from Q4 that will incorporate a roll-forward of the following working groups;

We understand that many of you would like to change the base that your stipend is calculated on and we agree that it is fair to rebase the $INDEX value everyone’s rewards were calculated upon with this extension. We will therefore for each member of each working group that has a stipend denominated in INDEX rebase to December 24th 20 day $INDEX moving average (in line with previous budgeting rounds using the moving average of the latest contributor rewards payment date). I have detailed below an example stipend.

Example Contributor

INDEX salary using 20 day moving average at the start of Q4 (when the budget was set)

200 INDEX = $7,000 (200x$35)

Under the updated rebased budget

$7,000/$25 (example 20 day moving average) = 280 INDEX p/m

In addition to funding working group proposals and contributor rewards this proposal also intends to pay current full-time salaries that are not included in Working Group budgets.

We will present the revised figures per WG in a thread below once the 20 day MA value is finalized on 24th December.

Please do comment and drop your thoughts below, noting that this is not a perfect solution but one that we think is fair and will ensure current working groups are well funded to continue to grow the DAO.

Are you happy with the above approach to WG budgets whilst the Nest structure and implementation is finalized?
  • Yes
  • No

0 voters

Should this be posted through IIP or approved by the Index Council?
  • IIP
  • Index Council

0 voters


Copyright and related rights waived via CC0.


This is exactly the type of interim decision I delegated power to our council to make. It is a necessary solution and I personally appreciate that Finance Nest have thought through how we bridge funding for contributors (including the rebasing of INDEX for our leads) during the restructuring process. This saves us a tonne of confusion and work, especially given the time of year. Love your work Finance team, thanks @ElliottWatts


Thanks for putting this together. I’m quite new here and wonder if there’s anywhere I can find info related to migration to Nests?


Forums the right place! Search function ‘Nest’ Index 2.0 | Leadership, Governance and Decision Making (Pods, Nest and Wise Owls)

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Hi all,

As promised, posting here a document for all to review regarding working group allocated stipends.

If you had a stipend in Q4 then please review this document to ensure we have recorded the correct amount and split USDC/INDEX/$INDEX at 5-day moving average

The document shows rebased figures for amounts paid in fixed INDEX denomination, amounts agreed in USD but paid in INDEX 5-day moving average or USDC will not change

I have made the document comment only so if you think there is an error in your stipend then please add a comment in the relevant cell - we also request that you include a link to the forum, etc in your comment so we can easily cross-refer agreement of amounts.

Updated fixed stipend values

Any issues please reach out to myself, @Hammad1412 or any member of Finance.Nest.


Hi All,

Just as an update, as we have had a few comments regarding stipend adjustments. The Index Council has not yet finalized the Core Hire process, as a result, contributors will remain on the same T+C’s as Q4. Therefore remaining fair across the DAO as we are in the transition phase for remuneration.

Contributors however have the following decisions to make with regards to how their remuneration is paid. They can elect for stipends to be paid in:

  • USDC
  • Fixed Index
  • Index on 5-day moving average
  • A mix of the above

Hi all,

Just commenting here to pull this discussion back to the top of the forum to ensure nobody misses it. Please review this sheet Updated fixed stipend values , here we have calculated a rebase of INDEX denominated stipends.

A moving average rate of $22.07 was used to calculate this. Based upon the current token price people may want to move to a 5-day moving average USDC amount paid in $INDEX. Please comment within this document on how you wish to be paid. If we do not hear back from you before the next round of contributor rewards (aiming for 31st January) we will assume you are happy with what is reflected in this sheet.

Any issues please reach our to myself or @Hammad1412


Reviewing this sheet and tagging those on discord that have not commented how they wish to be compensated. We updated contributor rewards for fixed $INDEX from Q4, a moving average rate of $22.07 was used to calculate this rebase (December 5-day MA) .

This forum post has been up for 20+ days so in order to not delay the contributor rewards process we will assume people who have not interacted with the spreadsheet will automatically move to a 5-day moving average at the end of the respective month paid in $INDEX. If you wish to be compensated differently please reach out to @Hammad1412 on discord by close of play on 26th January.

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