Status: Proposed Author(s): @Matthew_Graham @ElliottWatts Created: 28th October 2021 Discussion to: https://gov.indexcoop.com/t/iip-98-finance-nest-and-talent-ops-and-change-working-group/3053 Quorum: 109,069 [2,181,385*0.05]

Simple Summary

Grant the Operations Account 10,484 INDEX & 30,750 USDC (~$390k using $34.20 INDEX price) from the Index Coop Treasury to continue funding the Finance Nest and the Talent, Ops and Change Working Group.

For context, IIP-94 Funding Council Grant #5 was for 53,272 INDEX & 287,405 USDC (~$2.1 MM). This transfer has not yet occurred yet. IIP-90 Removal of Funding Council wallet and hive up into the operations account to be implemented soon as well.

Abstract

The Operations Account is requesting 10,484 INDEX & 30,750 USDC from the Index Coop Treasury in order to fund Q4-2021 operations.

Treasury Account: ‘0x9467cfADC9DE245010dF95Ec6a585A506A8ad5FC’

Operations Account: ‘0xFafd604d1CC8b6B3B6CC859cF80Fd902972371C1’

These funds will be used to:

• Fund the Finance Nest and the Talent, Ops and Change Working Group.
  • Finance Nest
  • Talent, Ops and Change Working Group

This grant is expected to help sustain Index Coop operations until the end of Q4-2021 (December 31, 2021). A detailed breakdown can be found within the link proposals detailed above. A summary is shown below for easy reference and a linked spreadsheet can be found here.

Notes:

• This request is based on October 13, 2021 20-day MA: $34.20
• It includes a 15% safety factor to account for possible INDEX depreciation

Motivation

This intent has been to allow the Index Coop to continue growing, while ensuring the Operations Account doesn’t have access to large amounts of INDEX without good reason and that the operational budgeting & funding processes can evolve as we grow & learn together.

FOR

Grant the Index Coop Operations Account 10,484 INDEX & 30,750 USDC to continue funding the Finance Nest and the Talent, Ops and Change Working Group.

AGAINST

Do not grant the Index Coop Operations Account additional funds to continue funding the Finance Nest and the Talent, Ops and Change Working Group.

Copyright

Copyright and related rights waived via CC0.