Status: Proposed Author: @Finance.Nest @Matthew_Graham, @ElliottWatts, @Hammad1412, @prairiefi, @Ahuja Created: 25th November 2021 Discussion to: https://gov.indexcoop.com/t/iip-116-redirect-dpi-mvi-data-and-bed-revenue-to-operations-account/3283 Quorum: 109,069 [2,181,385*0.05]

Simple Summary

This proposal seeks to redirect the revenue streams generated by the DPI, MVI, DATA and BED product offering from the Treasury to the Operations Account.

Ethereum Treasury Account: ‘0x9467cfADC9DE245010dF95Ec6a585A506A8ad5FC’ Ethereum Operations Account: '0xFafd604d1CC8b6B3B6CC859cF80Fd902972371C1’

Abstract

Currently, the DPI, MVI, DATA and BED product revenue is directed to the Index Coop Treasury. The Finance Nest recommends all Ethereum product revenue is redirected to the Ethereum Operations Account. Index Coop will soon have redirected the ETH2x-FLI and BTC2x-FLI products and the time has come to start transitioning the remaining products to the same model.

In addition to redirecting DPI, MVI, DATA and BED product revenue to the Ethereum Operations Account, the Finance Nest requests all MVI and BED tokens be transferred to the Ethereum Operations Account. Do note, DPI and FLI products are already IIP approved to be transferred to the Ethereum Operations Account.

Motivation

Index Coop is about to form a Liquidity Pod and Finance Nest expects this liquidity pod to request via IIP an amount of ETH and product to fund various liquidity positions across Ethereum and other networks. These LP positions will be managed from the respective Operations Account. With the revenue from the various products being delivered directly into the respective Operations Account, the Liquidity Pod will gain immediate access to that capital. This proposal eliminates the need to request funds to be transferred from the Treasury to the Ethereum Operations Account.

Currently, the main Treasury does a lot more than just hold INDEX and the vision for the Treasury is to only hold the communities INDEX balance, distribute methodologist incentives and receive tokens from the 2nd and 3rd year vesting contracts. By transferring the revenue stream from the Treasury to the Operations Account Index Coop is streamlining its operational efficiency.

This proposal addresses the need to have product revenue redirected to the respective network’s Operations Account where it can be more effectively managed. At the time of writing the Treasury wallet is still managed by founder Set labs.

Specification

The DPI, MVI, DATA and BED products revenue is to be redirected to the Ethereum Operations Account.

Operations Account: ‘0xFafd604d1CC8b6B3B6CC859cF80Fd902972371C1’

This IIP will require developer lift in a similar fashion to IIP-72.

Voting

FOR:

DO redirect the DPI, MVI, DATA and BED revenue from the Treasury to the Ethereum Operations Account. DO transfer all MVI and BED from the Treasury to Ethereum Operations Account.

AGAINST:

DO NOT redirect the DPI, MVI, DATA and BED revenue from the Treasury to the Ethereum Operations Account. DO NOT transfer all MVI and BED from the Treasury to Ethereum Operations Account.

Copyright

Copyright and related rights waived via CC0.