# $INDEX - Governance Token

### What's the token for?

$[**INDEX**](https://www.indexcoop.com/index) is a governance token used to vote on proposals for the Index Coop. $INDEX holders may vote on new products, changes to existing products, external protocol governance, treasury allocation decisions, and more. There is a maximum supply of 10 million $INDEX tokens.

The $INDEX token contract is natively deployed to Ethereum main net and can be verified with the following address: [**0x0954906da0Bf32d5479e25f46056d22f08464cab**](https://etherscan.io/token/0x0954906da0Bf32d5479e25f46056d22f08464cab)

### What is the initial distribution of the $INDEX token?

Here is a breakdown of the initial token distribution at launch:

* **1%** allocated to the historical airdrop for [$DPI](broken://pages/-MK38r5hu8wuL8vN6MUC) holders 
* **7.5%** allocated to the Methodologist program over 18 months (starting 60 days after launch)
* **9%** allocated to the 60-day liquidity mining program
* **52.5%** allocated to the [DAO treasury](/index-coop-community-handbook/resources/funded-wallets-appendix.md)
  * **5%** available immediately
  * **47.5%** vested over 3 years
* **28%** allocated to Set Labs Inc
* **2%** allocated to DeFi Pulse

### Non-Circulating Addresses

| Name                                  | Address                                      |
| ------------------------------------- | -------------------------------------------- |
| Index Coop Treasury                   | `0x9467cfadc9de245010df95ec6a585a506a8ad5fc` |
| Index Coop Contributor Ownership Pool | `0x236815b32b50cc80f5c6348396b1a9b09fd3e7f7` |
| Index Coop Treasury Fast              | `0xbf14566a37D96d55485bD281f5E7c547883A54C8` |
| Index Coop Treasury Operations        | `0xFafd604d1CC8b6B3B6CC859cF80Fd902972371C1` |
| Index Coop Treasury Investment        | `0x462A63D4405A6462b157341A78Fd1baBfD3F8065` |
| Index Coop Treasury Liquidity         | `0x3a36b94689f303aAf9BFE761068Efb8F78912023` |
| Contributor Vesting Contract 1        | `0x476cf198afac0fb13576f664cb49e5e658fd4322` |
| Contributor Vesting Contract 2        | `0x1bb64af7fe05fc69c740609267d2abe3e119ef82` |

### **$INDEX Tokenomics**

Currently, $INDEX derives value primarily from being a governance token; in practice, this takes the form of voting on improvement protocols for the Index Coop (IIPs), deciding which products to launch and maintain, and also 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. We believe that focusing on decisions that benefit the DAO in the long term is what brings value to $INDEX, and it is ultimately up to $INDEX holders to determine broader value accrual for the DAO.

### $INDEX Liquidity

$INDEX tokens can currently be bought and sold through the following exchanges:

* [Coinbase](https://www.coinbase.com/price/index-cooperative) (centralized)
* [Gemini](https://www.gemini.com/prices/index-cooperative) (centralized)
* [Uniswap v3](https://info.uniswap.org/#/tokens/0x0954906da0bf32d5479e25f46056d22f08464cab) (decentralized)

For onchain buyers and sellers, DEX aggregators like [CoW Swap](https://swap.cow.fi/#/1/swap/WETH/INDEX), [Matcha](https://matcha.xyz/tokens/ethereum/0x0954906da0bf32d5479e25f46056d22f08464cab), and [LlamaSwap](https://swap.defillama.com/?chain=ethereum\&from=0x0000000000000000000000000000000000000000\&to=0x0954906da0bf32d5479e25f46056d22f08464cab) are recommended for best execution.


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