Summary

Proposal:

Extend the Monthly INDEX Supply Reduction Program for an additional seven months sourced from the Index Coop treasury

Quantities:

• Total: 700,000 equal to 7% of max supply
• Monthly: 100,000 equal to 1% of max supply
• Initial Reduction + Extension: 1,000,000 equal to 10% of max supply

Schedule:

• October burn (Burn #4): Execute promptly after Snapshot close
• November burn (Burn #5): November 3rd, 2025
• December burn (Burn #6): December 2nd, 2025
• January burn (Burn #7): January 2nd, 2026
• February burn (Burn #8): February 2nd, 2026
• March burn (Burn #9): March 2nd, 2026
• April burn (Burn #10): April 1st, 2026

Rationale: The Q3 pilot executed three burns. Quantitative results so far are inconclusive for holders. Qualitative results were more positive with anecdotal feedback from some members of the community. Liquidity and volatility remain broadly stable. Extending for three more months increases the sample size in order to further evaluate cumulative excess returns and medium-horizon outcomes more confidently.

Voting

FOR — Extend the Monthly INDEX Supply Reduction Program for seven months (October 2025 to April 2026), burning 100,000 INDEX per month from the Treasury. October burn occurs after the 48‑hour Snapshot. Publish a review in April 2026.

AGAINST — Do not extend. The program ends after the Q3 2025 pilot.