What is an IIP?

An IIP is a proposal to update some function or standard within the Index Coop. IIPs can vary widely from proposing new Index products, to requesting funds from the Index Treasury, to performing Index Coop smart contract upgrades. The IIP proposal process largely follows the same behavior as Ethereum's EIP process.

The Index Coop GitBook (what you are reading) is the central repository and source of truth for the status of IIPs.

This is a high level overview of an IIP lifecycle:

1. Informal discussion & sentiment check on the Index Coop Discord or forum.

2. Formal Proposal on the Index Coop Forum​

3. Discussion & Minimum 48 Hour Waiting Period

4. IIP Proposer Schedules Snapshot Vote

5. Snapshot Vote

6. Implementation by the parties involved with the improvement