INDEX is a governance token used to vote in changes to the Index Coop. INDEX holders may vote in smart contract upgrades to the Index Coop, vote in new Index Coop products, vote on allocation of the Index Coop treasury, and more.
A quick break down of the token distribution:
1% allocated to the historical airdrop for DPI holders
7.5% allocated to the Index Methodologist program over a period of 18 months (starting 60 days after launch)
9% allocated to the 60 day liquidity mining program
52.5% community treasury (with 5% available immediately and 47.5% vested over 3 years)
28% allocated to Set Labs Inc
2% allocated to DeFi Pulse
No. If we only include the 5% immediately vested treasury and exclude the rest of the treasury while also assuming that the index methodology tokens are paid out at a rate of 0.41% of allocated tokens a month over 18 months, this is what the split looks like:
Time Period (from launch)
Set and DeFi Pulse Holdings
We strongly expect that the vested treasury will be distributed over time from very early on but even if 0% of the vested treasury is distributed, the community will still retain majority voting power up until 2 years after launch.
There are a number of different ways to get $INDEX and start participating in the governance of Index Coop.
Contribute to the goals of the Coop and share a portion of rewards based on the size and scope of the effort. The rewards are tracked and decided by a Treasury committee, currently consisting of members from the Set Protocol team, with a view to using more autonomous solutions like SourceCred in future. More information about the formation and remit of the treasury committee can be found here.
If none of the above are suitable, or you want to increase your $INDEX position, there are liquidity pools on Uniswap where you can pick up tokens from the open market.
$INDEX token contract addresses for verification:
Polygon (MATIC): 0xfBd8A3b908e764dBcD51e27992464B4432A1132b
Currently $INDEX derives value by being a governance token used for voting on improvement protocols for the Index Coop (IIPs), deciding how we spend our treasury, and for meta-governance proposals relating to underlying tokens held in $DPI (and future index products).
$INDEX should be viewed as a ‘proof-of-work’ token as it is distributed to those who contribute to the progress of Index Coop (see above). We believe that focusing on decisions that benefit the Coop in the long term is what brings value to INDEX.
Up-to-date financial stats including price and market cap are available on our website.