The IIP process is not just about fulfilling Index Coop’s functional duties. A streamlined and accessible IIP process can help cultivate a community which values open collaboration and ensure contributions are recognized and given a clear path to success.
Make the path for community contribution simple, accessible, and achievable
Set clear guidelines for “next steps” at each stage of proposal process
Demonstrate contribution efforts are valued and put to good use
In the early stages of Index Coop, Snapshot voting may be skipped for proposals which achieve super majority agreement on the forum proposal
This is the initial fielding research + discussion on Discord, governance forum, Twitter or any other venue. This is an informal process to gauge community interest in a potential Index Coop improvement.
Here are some questions the contributor might want to answer:
Am I able to informally get any traction for this proposal in the Discord?
Has this proposal been tried before?
How does this proposal get the community closer to achieving its stated goals?
What trade-offs are implicit in this improvement's adoption?
Once a contributor feels they have a rough consensus that their IIP is valuable, original, and achievable they should submit an Index Improvement Proposal according to the IIP-0 guidelines.
Once an IIP Pull Request has been merged and assigned an IIP number, an IIP Editor will create a corresponding post in the governance forum’s “Proposals” tab. The proposal forum is used as a formal area to debate the merits of each IIP. In the early stages of Index Coop, if a super majority consensus (>90% FOR after 7 days) is achieved for a given IIP in the governance forum poll, that IIP can be moved to the "Approved" state and implementation can begin immediately. If an IIP can not reach super majority consensus in the governance forum, it will be put to a snapshot vote. All Index additions must go through snapshot voting.
An IIP editor will also create a corresponding Discord channel for all proposed IIPs for discussion.
Governance calls may also be used to debate IIP proposals and to gauge community sentiment on them. The governance calls do not represent a formal venue to measure consensus.
If an IIP is contentious, it must be put to a snapshot vote for the community to accept or reject. The IIP author is responsible for deciding a snapshot vote date with the following criteria in mind:
The snapshot voting period may not begin until at least 7 days after the IIP status has been moved to "Proposed" state.
The IIP has a voting period of 3 days where token holders may vote FOR or AGAINST.
When a snapshot voting date has been decided, an IIP editor will create a snapshot vote page with the following criteria:
Minimum Quorum: More than 20% of circulating, non-treasury INDEX must participate for a proposal to Pass. For Index additions, more than 40% of the tokens must participate.
Passing Threshold: More than 50% of voting tokens must vote FOR for the IIP to Pass. For Index additions, more than 70% of voting tokens must vote FOR for the IIP to pass.
After the snapshot voting period has concluded an IIP Editor will tally votes and update the Github IIP record with the related voting data. If a proposal is passed, the IIP is moved from proposed to approved. If a proposal is rejected the IIP may be moved to rejected or back to WIP to be revised for future consideration.
In the early stages of Index Coop, approved IIPs will be executed via multisig where necessary. Otherwise, implementation of the IIP will vary on a case-by-case basis.