1. [Optional, but Recommended] A new product idea’s high level specifications and reasoning is proposed and discussed with existing community members.
Main discussions here should be oriented around market appeal and feasibility.
Such discussions may happen in 1:1 interactions with community members, publicly on the forums and Discord, or any other venue of choice.
While this step is optional, it may help the Methodologist save time and help in the construction of a successful application.
2. A Product Addition Application is completed and proposed to the Index Cooperative community in the Governance Forum.
The application structure is described in IIP-2 and can be found here.
The IIP must be live for 7 days before voting can occur.
The methodologist may modify the proposal during discussions.
We will host a call for the Methodologist to answer any questions from the community.
3. Decision Gate 1: Snapshot signaling FOR or AGAINST moving forward with Product Vetting Step.
Once proposal has been live for at least 7 days the Methodologist can request the start of snapshot voting. This will run for 3 days.
Because this is a signaling step to gauge community sentiment, it will not be subject to quorum requirements.
4. Product Vetting Step: All products that pass DG1 are reviewed by Coop teams.
Product Development and Business Analysis Work Teams review the proposal in detail with support from the methodologist and assess according to the prioritization rubric.
Each team will report progress every week via the weekly governance call.
Once each team has committed its review and agreed any modification with the methodologist.
A “Final proposal to launch” will be made by a Coop community member and the methodologist.
This will be a new forum post: “IIP-XX-Final”
This will be the definitive version of the proposal and specify the Snapshot vote dates and a proposed product launch date.
If the review teams identify significant blockers that can not be avoided, then the Business and Product teams will recommend a “No” vote on Decision Gate 2.
5. Decision Gate 2: Vote on Product Addition
This is the snapshot vote to approve or reject the final product proposal.
Signals commitment by the Index Coop to launch the target product in a timely manner.
Per IIP-26, passing thresholds are
10% or more of circulating tokens must participate
60% or more must vote FOR
6. Product launch
Once DG2 has passed, the coop and methodologist will be expected to work together to launch the product in a timely manner.