Season 1 | Nest Proposal process & Owl Levels

Author: @shawn16400, @Pepperoni_Joe
Reviewers: @sixtykeys

We have shared this post off the back of the Feb 2nd Leadership Forum where we confirmed the Season 1 approach to budgeting and Owl Levels.

The objective of this document is to outline the Season 1 Nest and budget proposal process in order to:

  1. Provide clarity and transparency around the process
  2. Communicate the steps involved
  3. Highlight the roles associated with the decision-making process

Roles and responsibilities

In Season 1 the listed individuals and teams are accountable for delivering the following:

Oversee the process Index Council
deliver draft / final proposals Nest leaders
provide guidance on proposal structure and format Finance Nest
provide feedback and challenge on the proposal Finance Nest
track approved spend Finance Nest / Nest Leaders
execute on approved plans Nest Leaders
document the process Governance Nest
approve final Nest budget Index Council
approve combined Index Coop Season 1 budget IIP

Summary of Nest Proposal & Budget process

The proposal process is outlined below. Please note the deadlines provided here are the hard deadlines we must hit in order to pass all budgets in advance of the February rewards round.

Step Deadline
Nest Structure Defined 15 Dec
Templates and expectations communicated 3 Feb
Version 1 Proposal shared with Finance Nest 7 Feb
Feedback from Finance Nest on V1 proposal 9 Feb
Version 2 Proposal shared on the forum by Nest leads without budget or owl levels 11 Feb
Version 2 Proposal shared with Index Council 14 Feb
Index Council approves/rejects Proposal* 18 Feb
Version 3 Proposal updated on forum 18 Feb
Index Council take all Nest Budgets through IIP** 21 Feb

*Final approval/rejection will not be provided until all Nest Proposals have been received
**This will be one IIP and will contain links to each proposal and a summary of the Season 1 budget request 21 Feb

Owl Levels and DSM

We are also excited to use Season 1 as an opportunity to roll out the Dynamic Staking Model and revised Owl Level structure to contributors outside of Priority Hires.

This process goes hand in hand with the Nest proposal process.

Step 1 - by 7 Feb

  • Within their Season 1 Proposal, Nest Leaders propose the names of Nest contributors and a corresponding “Owl Levels” for each
  • Each proposal also list a number of “spare” Owl Level slots.
  • Throughout Season 1, Nest Leaders has the discretion to allocate these “spare” Owl Level slots to new or existing contributors who have gone above and beyond in delivering impact.

Step 2 - by 18 Feb

  • Index Council will review, adjust and approve proposed Owl Levels detailed within each proposal.
  • They will adjust and confirm both:
    • The specific Owl Levels for named individuals, AND
    • The number of “spare “ Owl Level slots for each Nest

Step 3 - by 21 Feb

  • Index Council will prepare a “DSM expansion” IIP to provide DSM access to all non-priorty hires
  • This will contain final details of the DSM parameters for Silver and Bronze Owls, and details on the revised DSM vest for non-priority hires

It is important to flag that whilst this process may not be perfect, we are never going to get Owl Levels right the first time. However, the approach proposed provides a simple mechanism to allow us to swiftly move towards a new owl level framework and provide contributors with a robust path to increased ownership.

If you have any feedback on questions on the process, for Owl Levels, please share them here!


Q: Who approves the final budgets?

  • A: The community has the final approval on the budget via an IIP vote, but the IC will approve individual Nest proposals and combine those proposals into a final comprehensive plan for community vote.

Q: How does the community provide feedback on Nest proposals?

  • A: In parallel, to the full proposal (with budget and owl levels) being shared with the Index Council, individual nest proposals will be posted on the forum for community feedback. These proposals will not include owl levels and budget numbers initially - and will only be updated with these details once final approval from Index Council has been provided. This is to enable the Council to look holistically across the proposals and adjust them accordingly.

References & tools to help you along the way


Any updates on where we are at with the timeline please?

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Hey @lee0007

Nest proposals are in the final stages of review and should be approved this week! :crossed_fingers:

We will provide further details during Wednesday’s Leadership Forum.

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