<p>Status: Proposed<br />
Author(s): <a href="/u/lavi">@Lavi</a>, <a href="/u/mel.eth">@Mel.eth</a>, <a href="/u/sixtykeys">@sixtykeys</a><br />
Reviewed by: <a href="/u/mringz">@Mringz</a><br />
Created: 27th September 2021</p>
<h1>
<a name="situation-1" href="#situation-1"></a>Situation</h1>
<p>We are proposing the creation and Q4 funding of the Governance Operations Working Group [term ending 14th January 2022].</p>
<p>At present, governance operations are fragmented and not centralized into a specific function in the Coop. Operations are executed under the purview of a few individuals and the POC WG mainly, drawing focus from the funded initiatives tied to that WG. There is no holistic monitoring of the process or a clear avenue for iterative improvement or accountability. The desired outcome is providing greater focus and accountability related to governance operations, inspiring a greater sense of execution ease, importance, and protocol ownership. This ensures that contributors responsible for executing governance-related functions are well-trained, accountable and remunerated, providing a clear funding path for governance operations.</p>
<p>It is time to build out the resource-planning, accountability, process-improvement, and reporting functions that a dedicated WG can incentivize and coordinate. Coordinating and executing fair and successful votes, timely reporting, and tracking implementation are essential functions of any operational and autonomous DAO. Given that all executive functions currently flow directly from our governance processes, the importance of ensuring operational continuity in this regard cannot be overstated.</p>
<p>The DeFi Pulse Index also gives the Index Coop access to its underlying components, which are held in its smart contracts. This provides the Coop with Meta Governance power in protocols such as Aave, Compound and Yearn. Therefore, we need to ensure that this process is running smoothly and efficiently by enabling contributors to manage it and make improvements where needed.</p>
<p><strong>Disclaimer:</strong> <em>In recognition of the ongoing Index 2.0 discussions and potential near-term impacts on governance operations: This WG, if formed, will defer in whole or part to any resultant organized bodies that may overlap with (or obviate the need for) this WG as envisioned below, or endeavour to supplement and support the Index 2.0 efforts as appropriate. Nonetheless, the WG term is set to the conventional 3-months. A structural / efficacy review will take place within the first two weeks of the final month of the first term to inform a request for renewal or deprecation of the WG as appropriate.</em></p>
<h1>
<a name="what-is-the-core-problems-you-want-to-solve-2" href="#what-is-the-core-problems-you-want-to-solve-2"></a>What is the core problem(s) you want to solve?</h1>
<ul>
<li>Currently, governance operations and meta-governance operations are done by different people who do not organically coordinate with each other.</li>
<li>Some governance operations tasks are done by just one person, without a fall-back option should that person become unavailable for any reason.</li>
<li>Governance Ops is a vital part of the community. It includes IIP management, setting up Snapshot votes, keeping the community informed on multiple channels, ensuring quality assurance on IIPs, and more. However, most of these tasks are done in isolation which leaves room for efficiency gains and improvements.</li>
<li>Our governance process keeps changing and improving. However, most of it is done by the WG or person that needs to change something (e.g. general IIP template improvements, PWG improving the product IIP template, the meta-governance election process, autonomy group election, etc.). These examples happen organically within the community. However, a Governance Operations working group could support creating such a process, plus maintaining recurring things like the MGC election.</li>
<li>Index Coop is in the midst of rapid growth; with the increased number of contributors joining and the increasing number of working groups, we expect the number of proposals to grow exponentially. Our Meta Governance powers are also increasing day by day. Thus we expect to attract even more outside parties to go through our governance process. This is a time-consuming process for the contributors who currently manage this process, allowing little time to focus on other initiatives. A working group structure would enable us to focus our time and effort solely on ensuring smooth governance operations and reporting and improvement of the process.</li>
<li>Given that passed IIPs generally require that defined action occur, tracking of implementation is currently happening in an ad-hoc manner and generally removed from community awareness.</li>
</ul>
<h1>
<a name="why-is-this-worth-addressing-today-3" href="#why-is-this-worth-addressing-today-3"></a>Why is this worth addressing today?</h1>
<ul>
<li>Most processes focusing on Governance are already quite established and operated by capable people. This proposal is a means to bring the contributors under one umbrella to increase efficiency, improve coordination and streamline daily operations.</li>
<li>There needs to be an accountability and feedback mechanism for governance operations to inspire greater confidence from token-holders that voting operations are occurring as planned and implementation status is clearly communicated. This creates a problem as contributors who make these proposals have to spend extra time following up on previous IIPs and, as a result, prevents them from focusing on the work at hand (examples <a href="https://gov.indexcoop.com/t/iip-73-fli-economic-model-upgrade-past-gas-costs/2355/17">here</a> and <a href="https://gov.indexcoop.com/t/iip-72-redirect-fli-revenue-to-operations-account/2368/14">here</a>).</li>
<li>The current system of governance operations is executed and funded in an ad-hoc manner that is susceptible to coordination inefficiencies.</li>
<li>The governance process can be made more transparent and accessible.</li>
<li>There is good reporting coming from contributors; however, it is not regular communication that the community can rely on.</li>
<li>As seen in <a href="https://gov.indexcoop.com/t/iip-67-delegate-uni-to-flipside-for-community-enabled-analytics/2242">IIP-67</a> and <a href="https://gov.indexcoop.com/t/iip-82-use-indexcoops-aave-holdings-to-list-fei-on-aave-v2/2573">IIP-82</a>, several third parties wish to use the Index Coop’s Meta Governance powers. But due to the failure of <a href="https://gov.indexcoop.com/t/iip-80-meta-governance-proposals-mgp-process/2492">IIP-80 <span>2</span></a>, external parties do not have a clear path, orientation, or point of contact when coming to the Coop to request Meta Governance.</li>
<li>There is currently a lack of knowledge around Index Improvement Proposals, with many community members not aware of how to go about the process and, even if they do decide to make a proposal, not sure of the correct steps or format in which to present their proposals and take them to Snapshot. This group can be of support and guide contributors.</li>
</ul>
<h1>
<a name="how-will-you-address-it-4" href="#how-will-you-address-it-4"></a>How will you address it?</h1>
<p>This proposal, if enacted, would empower the resultant WG to:</p>
<ul>
<li>Ensure that governance operations are being attended to in a transparent and accountable manner (i.e. IIP review and editing, Meta-Governance Operations, Snapshot posting and elections).</li>
<li>Provide robust tracking and reporting on governance.</li>
<li>Provide coordinated process improvement recommendations.</li>
<li>Provide risk, failure, and near-miss assessments requested by the community.</li>
<li>Recommend and draft ‘clean-up’ IIPs that fill in gaps or may be required for ongoing DAO operations (i.e. setting advance reminders and facilitating coordination of quarterly funding requests in a timely manner).</li>
<li>Provide feedback and education to community members active in governance re proper procedures and required discussion periods.</li>
</ul>
<h1>
<a name="what-impact-will-this-project-have-5" href="#what-impact-will-this-project-have-5"></a>What impact will this project have?</h1>
<p>This WG will aid in fostering the Guiding Principles (<a href="https://docs.indexcoop.com/our-guiding-principles">Our Guiding Principles - Index Coop Community Handbook <span>2</span></a>) of:</p>
<ul>
<li>Innovation</li>
<li>Data-Driven, Community Governed
<ul>
<li>Reporting</li>
<li>Recommend and implement improvements to the process</li>
</ul>
</li>
<li>Community
<ul>
<li>In keeping with the ‘people-first’ approach of Index Coop</li>
<li>Improved transparency, fairness, communication, organization, autonomy, and accountability</li>
</ul>
</li>
</ul>
<p>This working group will also create a clear and distinct framework to be followed and carried forward by any contributors who may take up these roles in the future.</p>
<h1>
<a name="working-group-leaders-6" href="#working-group-leaders-6"></a>Working Group Leader(s)</h1>
<ul>
<li>Lead: Simon Lavi (<a href="/u/lavi">@Lavi</a>)</li>
<li>Co-Leads: Brian Adam (<a href="/u/sixtykeys">@sixtykeys</a>) &amp; Mel Oxenreider (<a href="/u/mel.eth">@mel.eth</a>)</li>
<li>Core contributors: Michael Mtenga (<a href="/u/mringz">@Mringz</a>)</li>
</ul>
<p>Three people currently manage different verticals of the governance process; therefore, we feel this WG is best served by having three leads, one to focus on each work area: <a href="/u/lavi">@Lavi</a> → Meta Governance Ops, <a href="/u/sixtykeys">@sixtykeys</a> → IIP/Governance Ops and <a href="/u/mel.eth">@mel.eth</a> → Meta Governance Proposals (e.g. using Aave to list tokens) and Elections. <a href="/u/mringz">@Mringz</a> will serve as a core contributor for the WG by continuing to serve as the point person for product related IIP’s while continuing to build out the protocol ambassador program.</p>
<h1>
<a name="request-for-funding-7" href="#request-for-funding-7"></a>Request for funding</h1>
<h2>
<a name="proposed-budget-8" href="#proposed-budget-8"></a>Proposed Budget</h2>
<ul>
<li>We are requesting a budget of $30,000 plus 1800 INDEX over the next three months.</li>
</ul>
<h2>
<a name="use-of-funds-9" href="#use-of-funds-9"></a>Use of funds</h2>
<p>Working Group Leader Compensation: 1,800 INDEX (200 INDEX per leader/co-leader per month).</p>
<p>Additional contributor rewards: We have budgeted for $10,000 per month (This is under the expectation of 2 or 3 additional contributors to this working group during Q4).</p>
<p>Unused contributor rewards will be returned at the end of term or discounted from future WG funding requests.</p>
<p>Note: The Meta-Governance Committee is funded via <a href="https://gov.indexcoop.com/t/iip-51-form-a-meta-governance-committee/1792">IIP-51 <span>3</span></a> at $7,500/mo in total. No proposed change to amount or process; however, this WG will provide operational support upon request.</p>
<h1>
<a name="what-will-you-be-doing-10" href="#what-will-you-be-doing-10"></a>What will you be doing?</h1>
<p>The proposed GOWG, if implemented, would be an operations and reporting function within the larger Index Coop organization to facilitate coordination and feedback relating to Governance, Meta-Governance, and Elections.</p>
<p>Over the three month term the GOWG will seek to solve the Core Problems outlined above by:</p>
<ul>
<li>
<p>Operations:</p>
<ul>
<li>Review, coordinate, and execute the governance operations required by passed IIPs and available guidance.</li>
<li>Full ownership of Operations tasks related to the process of creating IIPs as well as Meta Governance votes.</li>
</ul>
</li>
<li>
<p>Improvement:</p>
<ul>
<li>Improve the governance process to the extent possible within the current execution guidelines.</li>
<li>Suggest experience-informed improvements to the governance process that may rise to the level of an IIP, as appropriate.</li>
<li>Launching and further development of governance and metagovernance related initiatives (i.e <a href="https://gov.indexcoop.com/t/launching-the-index-coop-protocol-ambassador-program/1836">Protocol Ambassador Program</a>)</li>
</ul>
</li>
<li>
<p>Outreach:</p>
<ul>
<li>Host a weekly WG meeting (will go to bi-weekly if interest or content is not sufficient to warrant) to review the governance operations and outcomes subsequent to the previous meeting.</li>
<li>Meet weekly among WG contributors to ensure that governance operations are well-coordinated and executed efficiently. We will also use this meeting to brainstorm any new ideas to improve governance operations, as well as discuss strategies for implementing new and existing governance initiatives.</li>
<li>Ensure that key stakeholders i.e VC’s, contributors, community are actively informed about governance proposals</li>
</ul>
</li>
<li>
<p>Gitbook Updates:</p>
<ul>
<li>Keep the Community Handbook updated with the latest governance information.</li>
</ul>
</li>
<li>
<p>Governance Content:</p>
<ul>
<li>Ideate and build resources to make voting easier to understand and execute.</li>
</ul>
</li>
<li>
<p>Tracking &amp; Reporting:</p>
<ul>
<li>Keep IIP tracking logs updated and accessible.</li>
<li>Create and maintain logs of IIP execution post-vote, along with periodic reports, to ensure that IIPs are being implemented according to design.</li>
<li>Coordinate with AWG to generate reports outlining voter participation etc.</li>
</ul>
</li>
<li>
<p>Comprehension:</p>
<ul>
<li>Review governance-related proposals in the forum and provide timely feedback as to:
<ul>
<li>Ease of execution.</li>
<li>Necessary integrations and changes to existing processes.</li>
<li>Highlight available governance mechanisms that may improve the process.</li>
</ul>
</li>
<li>Endeavour to encourage discussion, foster an environment of innovation and support thought-leaders around the subject of governance.</li>
<li>Supplement and create resources to build a comprehensive set of ‘bylaws’ out of the passed IIPs.</li>
</ul>
</li>
</ul>
<h1>
<a name="how-will-you-interface-with-the-community-11" href="#how-will-you-interface-with-the-community-11"></a>How will you interface with the community?</h1>
<ul>
<li>As outlined above, WG meetings will initially be held weekly and timeboxed to 1-hour, adjusted based on utility but not less than bi-weekly.</li>
<li>Group leads will ensure that the governance forum and governance-related discord channels are monitored with timely responses to all queries.</li>
<li>Regular updates and announcements via the governance forum as well as relevant discord channels.</li>
<li>Weekly report on governance proposals that need community attention and votes that are currently live or pending on Snapshot.</li>
<li>Monthly report on the number of IIPs passed and failed, participation, the progress of implementation etc.</li>
</ul>
<h1>
<a name="commitments-12" href="#commitments-12"></a>Commitments</h1>
<p>We are committed to the <a href="https://docs.indexcoop.com/our-guiding-principles">Index Coop principles <span>2</span></a></p>
<p>We are committed to serving the entire Index Coop with our work.</p>
<p>We are committed to open, rapid communication: We know that clear, constant, public communication lifts up the entire Index Coop community. We are committed to this style of communication.</p>
<p>Shared learnings: We will share our progress and learnings with the entire community. We will ensure that anything we create is accessible beyond our tenure for future generations of Indexers to access &amp; build on.</p>
<p>Intellectual honesty: We are committed to growth and improvement. We are open to feedback and will use feedback to improve our work for the benefit of the entire Index Coop community.</p>
<p>We are committed to making Index Coop a welcoming, fun, and engaging community to work in!</p>
<div><div><div>Fund a Governance Operations Working Group for Q4 2021</div><ul><li><div><p><span>100%</span><span>FOR</span></p></div><div><div></div></div></li><li><div><p><span>0%</span><span>AGAINST</span></p></div><div><div></div></div></li></ul></div><div><div><div><span>20</span><span>voters</span></div></div><ul><li>
                    
                    <span>Closed <strong>Oct '21</strong></span>
                   </li><li>
                
                <span>Results will be shown on <strong>vote</strong>.</span>
               </li></ul></div><div></div></div>

[FINAL POLL CLOSED] Proposal: Governance Operations Working Group Status: Proposed 
Author(s):  @Lavi ,  @Mel.eth ,  @sixtykeys

[FINAL POLL CLOSED] Proposal: Governance Operations Working Group

<h1>
<a name="introduction-1" href="#introduction-1"></a>Introduction</h1>
<p>Index Coop DAO season 1 kicked off in February 2022, and we are now approaching the end of the season. We plan to use this post to take a look at how we’ve done so far against our <a href="https://gov.indexcoop.com/t/governance-nest-proposal-season-1-2022/3873">season 1 proposal <span>3</span></a>. We invite all other nests to do the same ahead of season 2 to allow for reflection, and make the transition to season 2 as frictionless and informed as possible.</p>
<h1>
<a name="structure-2" href="#structure-2"></a>Structure</h1>
<p>The Governance Nest season 1 proposal only had provisions for two functional areas (Pods) namely Operational Governance and MetaGovernance. And while these two Pods have been successful in their operations, we have since added an extra functional area, Governance Communications. Governance communications have done an excellent job so far supporting the two original Pods through increasing communications and awareness of Governance Nest operations. Some of the successes of the Governance Communications Pod so far have been to improve visibility on internal Governance operations, socialize how to use our Governance process, and externally communicate how Index Coop manages the governance process. Therefore, moving forward the GovComs Pod is likely to be included in the Season 2 proposal.</p>
<h1>
<a name="primary-objectives-3" href="#primary-objectives-3"></a>Primary Objectives</h1>
<p>During Season 1 Governance Nest had the primary objective of ‘<strong>creating and maintaining several transparent and trusted governance processes in conjunction with providing content highlighting the value of MetaGovernance and how it pertains to the INDEX token</strong>.’</p>
<p>We had started with the mantra, “Simplify Governance” and moved to more detailed objectives in concert with the Index Council v1, as follows:</p>
<ol>
<li>Provide and manage a streamlined, transparent and open governance process</li>
<li>Ensure INDEX metagovernance voting rights are utilized</li>
<li>Grow awareness and opportunities to utilize Index Coop’s metagovernance influence</li>
<li>Improve the UX and participation of INDEX voters</li>
</ol>
<h1>
<a name="pods-4" href="#pods-4"></a>Pods</h1>
<h2>
<a name="operational-governance-pod-5" href="#operational-governance-pod-5"></a>Operational Governance Pod</h2>
<p>The Operational Governance pod is responsible for maintaining the Index Coop’s governance process and providing support to community members interacting with the process. This Pod will endeavour to boost participation, improve the existing process, and will work with token holders to promote awareness of the INDEX token’s governance influence. This pod will be the owner of all internal Index Coop elections for groups like the Index Council.<br />
The GovOps Pod had the Primary Objectives to:</p>
<ul>
<li>Provide and manage a streamlined, transparent, and open governance process</li>
<li>Improve the UX and participation of INDEX voters</li>
</ul>
<p>This was broken down into the following deliverables and responsibilities:</p>
<h3>
<a name="h-1-provide-and-manage-a-streamlined-transparent-and-open-governance-process-6" href="#h-1-provide-and-manage-a-streamlined-transparent-and-open-governance-process-6"></a>1. Provide and manage a streamlined, transparent, and open governance process:</h3>
<div>
<table>
<thead>
<tr>
<th>Commitment</th>
<th>Deliverable</th>
<th>Status</th>
<th>S2 Recommendation</th>
</tr>
</thead>
<tbody>
<tr>
<td>A transparent IIP governance process that any contributor can follow within the community handbook</td>
<td>The Process is available on the <a href="https://gov.indexcoop.com/t/index-improvement-proposals-iip-process/4249">IC Forum</a> and <a href="https://docs.indexcoop.com/governance/index-improvement-proposals-iips">IC Gitbook</a>
</td>
<td>Met</td>
<td>Continue</td>
</tr>
<tr>
<td>Transition towards enabling more community members to manage their own improvement proposals over time</td>
<td>Multiple training sessions for <a href="https://docs.indexcoop.com/governance/index-improvement-proposals-iips/gov-reps">GovReps</a> were held, these can be viewed <a href="https://drive.google.com/file/d/1prWhhL9GIDyHiDVt9NWu5DIvLvz0q-rT/view?usp=sharing">here</a> and <a href="https://drive.google.com/file/d/1YlxCtJObA78E76zSAcCpIqelNNGtUzmq/view?usp=sharing">here</a>. The IC Snapshot has also been opened up to anyone who meets the minimum threshold of 1000 INDEX tokens, so any community member can run the process independently.</td>
<td>Met</td>
<td>Kill</td>
</tr>
<tr>
<td>Facilitate awareness, education, improvement, discourse, challenges, record keeping, reporting and accountability of our community governance processes, across the business.</td>
<td>Initiated a <a href="https://gov.indexcoop.com/t/monthly-governance-reporting-thread/3993/">monthly report</a>, launched a <a href="https://twitter.com/coop_gov">Twitter account</a>, started a daily <a href="https://www.youtube.com/channel/UCnwr9r6uSeEgIx1yUuc9_Bw">Gov Connect <span>1</span></a>, developed an <a href="https://www.notion.so/index-coop/bb43bc8353264953a531216ddf8c0ee1?v=2d164ae9573e4fb4afc5885e6e0b1d3d">asset tracker</a> and outlined <a href="https://gov.indexcoop.com/t/governance-nest-north-stars/4256">“North Star” principles <span>1</span></a> to improve.</td>
<td>Met</td>
<td>Continue</td>
</tr>
<tr>
<td>Maintain a directory of all open improvement proposals and follow up on those not yet implemented. Provide Nest level updates during regularly scheduled community calls</td>
<td>An <a href="https://www.notion.so/index-coop/c62741fd18414b62aed0ae97bb9f319b?v=e801e8bc76fc4703aea4b8e4e091505f">IIP tracker</a> was created to track all open IIPs, however, we still need to develop a formal process for follow up of non-implemented IIPs.</td>
<td>Partially Met</td>
<td>Continue</td>
</tr>
<tr>
<td>Develop a prototype dashboard/tool which provides visibility to projects, outstanding tasks, metrics and issues.</td>
<td><a href="https://www.notion.so/index-coop/Governance-NEST-66bb75c9961c4b6f8dcf353a96cbab43">Dashboard launched <span>1</span></a></td>
<td>Met</td>
<td>Kill</td>
</tr>
</tbody>
</table>
</div><h3>
<a name="h-2-improve-the-ux-and-participation-of-index-voters-7" href="#h-2-improve-the-ux-and-participation-of-index-voters-7"></a>2. Improve the UX and participation of INDEX voters</h3>
<div>
<table>
<thead>
<tr>
<th>Commitment</th>
<th>Deliverable</th>
<th>Status</th>
<th>S2 Recommendation</th>
</tr>
</thead>
<tbody>
<tr>
<td>Increase the INDEX token participation rate as a fraction (%) of circulating supply</td>
<td>Actual INDEX participation increased although the percentage participation rate as a fraction (%) of circulating supply fell. GovNest has however so far been unable to directly influence this metric in a significant way.</td>
<td>Not Met</td>
<td>Continue</td>
</tr>
<tr>
<td>Provide support for Snapshot/Forum proposals and community updates on upcoming votes</td>
<td>
<a href="https://twitter.com/coop_gov">Twitter announcements</a> and <a href="https://discord.com/channels/762061559744299010/925987532490039346">Discord announcements <span>1</span></a>
</td>
<td>Met</td>
<td>Continue</td>
</tr>
<tr>
<td>Incorporate into the existing quarterly survey, a questionnaire seeking feedback on the governance process and implementing improvements to improve the participation rate with results published via the Monthly forum report.</td>
<td>Seven questions included in the Owl Pulse Survey, <a href="https://docs.google.com/presentation/d/1CS5svCIucoiOStUVxfLpCGGOK_hGdiNO/edit#slide=id.p2">results captured <span>1</span></a>, and actions being worked on.</td>
<td>Met</td>
<td>Continue</td>
</tr>
</tbody>
</table>
</div><h3>
<a name="success-metrics-8" href="#success-metrics-8"></a>Success Metrics</h3>
<div>
<table>
<thead>
<tr>
<th>Commitment</th>
<th>Deliverable</th>
<th>Status</th>
<th>Season 2 Recommendation</th>
</tr>
</thead>
<tbody>
<tr>
<td>INDEX voter participation rate (%) tracking as a percentage of circulating supply held outside of Index Coop internal wallet addresses</td>
<td>February: 11%,  March: 12%, April: 10%, May: 9%.  Set a target for Season 2 ~ 20%</td>
<td>Partially Met</td>
<td>Continue</td>
</tr>
<tr>
<td>Percentage of IIPs processed by non Governance Nest participants each month</td>
<td>February: 0%, March: 20%, April: 40%, May: 100%</td>
<td>Met</td>
<td>Kill</td>
</tr>
<tr>
<td>95%(-&gt;100%) error-free process-execution as measured by adherence to established governance processes</td>
<td>February: 100%,  March: 100%, April: 100%, May: 100%</td>
<td>Met</td>
<td>Continue</td>
</tr>
<tr>
<td>Number of Monthly reports detailing IIP and Metagovernance votes published within the first 10 days of the month</td>
<td>Monthly reports consistently published on time from <a href="https://gov.indexcoop.com/t/monthly-governance-reporting-thread/3993">February to May</a>
</td>
<td>Met</td>
<td>Kill</td>
</tr>
</tbody>
</table>
</div><h2>
<a name="metagovernance-pod-9" href="#metagovernance-pod-9"></a>MetaGovernance Pod</h2>
<p>The Meta-Governance Pod is to support all metagovernance activities across the Coop and with future partners using Index Coop’s influence to implement improvement proposals on other protocols. The core of this pod is to maintain a transparent and trusted meta-goverance process which includes the MGC that votes when INDEX holders fail to quorum. This pod will work closely with other areas of the Coop to support product sales and integrations with other communities.</p>
<p>The MetaGov Pod had the Primary Objectives to:</p>
<ul>
<li>Ensure INDEX metagovernance voting rights are utilized</li>
<li>Grow awareness and opportunities to utilize Index Coop’s metagovernance influence</li>
</ul>
<p>This was broken down into the following deliverables and responsibilities:</p>
<h3>
<a name="h-1-ensure-index-metagovernance-voting-rights-are-utilized-10" href="#h-1-ensure-index-metagovernance-voting-rights-are-utilized-10"></a>1. Ensure INDEX metagovernance voting rights are utilized</h3>
<div>
<table>
<thead>
<tr>
<th>Commitment</th>
<th>Deliverable</th>
<th>Status</th>
<th>S2 Recommendation</th>
</tr>
</thead>
<tbody>
<tr>
<td>Manage the metagovernance Snapshot process with a MGC in place to vote on proposals which do not meet quorum</td>
<td>GovNest has managed the process throughout the season, MG votes that have hit our Snapshot can be found <a href="https://index-coop.notion.site/d0a112c7c8f0478abfa3fc44476b8739?v=7f9b7343dd4942cb9f1bae2cf8e8d2d7">here</a>. The MetaGovernance Committee however has been assessed as inefficient, and we are looking to <a href="https://docs.google.com/document/d/1cR9DHqDwjUOg4JVWX2fOOSer6BOTB-gi4g1Iaj4xEvo/edit">improve on the process</a>.</td>
<td>Met</td>
<td>Continue</td>
</tr>
<tr>
<td>Promote INDEX metagovernance appeal</td>
<td>
<a href="https://medium.com/@shawnlgrubb/the-value-of-metagovernance-and-why-should-i-care-f7cdc0a5fcc7">The Value of Metagovernance and why should I care?</a>, <a href="https://indexcoop.com/blog/levered-metagovernance-fei-index">Levered Metagovernance FEI and INDEX: Rewards for a Job Well Done</a>, <a href="https://indexcoop.com/blog/leveraging-metagovernance-for-change">Leveraging Metagovernance for Change</a>, <a href="https://indexcoop.com/blog/early-2022-survey-of-metagovernance">Early 2022 Survey of Metagovernance</a>, <a href="https://indexcoop.com/blog/metagovernance-now-enabled-for-index-coop-on-messari-governor">Metagovernance now Enabled for Index Coop on Messari Governor</a>
</td>
<td>Met</td>
<td>Continue</td>
</tr>
<tr>
<td>Work with Business Development to explore solo proposal strategies that drive value to our products and sustainability for our community. i.e: Use metagovernance to support product sales</td>
<td>GovNest had a few meetings with the Business Development team, around MetaGovernance centered initiatives, but there was no material outcome.</td>
<td>Not Met</td>
<td>Continue</td>
</tr>
</tbody>
</table>
</div><h3>
<a name="h-2-grow-awareness-and-opportunities-to-utilize-index-coops-metagovernance-influence-11" href="#h-2-grow-awareness-and-opportunities-to-utilize-index-coops-metagovernance-influence-11"></a>2. Grow awareness and opportunities to utilize Index Coop’s metagovernance influence</h3>
<div>
<table>
<thead>
<tr>
<th>Commitment</th>
<th>Deliverable</th>
<th>Status</th>
<th>S2 Recommendation</th>
</tr>
</thead>
<tbody>
<tr>
<td>Increase the INDEX token participation rate as a fraction of circulating supply</td>
<td>February: 1%                       , March: 1.7%, April:  3.7%, May: 5.5%</td>
<td>Met</td>
<td>Continue</td>
</tr>
<tr>
<td>Publish educational content promoting INDEX token’s metagovernance appeal</td>
<td>
<a href="https://medium.com/@shawnlgrubb/the-value-of-metagovernance-and-why-should-i-care-f7cdc0a5fcc7">The Value of Metagovernance and why should I care?</a>, <a href="https://indexcoop.com/blog/levered-metagovernance-fei-index">Levered Metagovernance FEI and INDEX: Rewards for a Job Well Done</a>, <a href="https://indexcoop.com/blog/leveraging-metagovernance-for-change">Leveraging Metagovernance for Change</a>, <a href="https://indexcoop.com/blog/early-2022-survey-of-metagovernance">Early 2022 Survey of Metagovernance</a>, <a href="https://indexcoop.com/blog/metagovernance-now-enabled-for-index-coop-on-messari-governor">Metagovernance now Enabled for Index Coop on Messari Governor</a>
</td>
<td>Met</td>
<td>Continue</td>
</tr>
<tr>
<td>Explore ways to attract requests to support submitting governance proposals on other protocols</td>
<td>No work has been done on this front, perhaps a potential conversation with Governance House</td>
<td>Not Met</td>
<td>Continue</td>
</tr>
</tbody>
</table>
</div><h3>
<a name="success-metrics-12" href="#success-metrics-12"></a>Success Metrics</h3>
<div>
<table>
<thead>
<tr>
<th>Commitment</th>
<th>Deliverable</th>
<th>Status</th>
<th>S2 Recommendation</th>
</tr>
</thead>
<tbody>
<tr>
<td>INDEX voter participation rate tracking as a percentage of circulating supply held outside of Index Coop internal wallet addresses</td>
<td>February: 1%, March: 1.7%, April:  3.7%, May: 5.5%</td>
<td>Met</td>
<td>Continue</td>
</tr>
<tr>
<td>Number of inbound requests to utilize Index Coop’s metagovernance influence on another protocol</td>
<td>No inbound requests have come in to utilize IC’s MetaGovernance influence throughout the season.</td>
<td>Not Met</td>
<td>Continue</td>
</tr>
<tr>
<td>Number Medium article published highlighting the value of the INDEX tokens meta-governance influence</td>
<td>5 Medium Articles Published so far in Season 1</td>
<td>Met</td>
<td>Continue</td>
</tr>
</tbody>
</table>
</div><h1>
<a name="new-initiatives-13" href="#new-initiatives-13"></a>New Initiatives</h1>
<div>
<table>
<thead>
<tr>
<th>Commitment</th>
<th>Deliverable</th>
<th>Status</th>
</tr>
</thead>
<tbody>
<tr>
<td>Alt-Gov (Contributor Snapshot Space)</td>
<td>Handoff from AG workshops - <a href="https://snapshot.org/#/owlcoop.eth">Index Coop DAO Snapshot Space</a>
</td>
<td>Active</td>
</tr>
<tr>
<td>JPG Index Snapshot Space</td>
<td>Set up a <a href="https://snapshot.org/#/jpgnftindex.eth">JPG Snapshot Space</a> and establish ongoing touchpoint with methodologist/manager</td>
<td>Active</td>
</tr>
<tr>
<td>Governance Communications</td>
<td>Bring intentionality to channels and touchpoints.</td>
<td>Active</td>
</tr>
<tr>
<td>SubDAO at Index Coop</td>
<td>How to form a <a href="https://gov.indexcoop.com/t/how-to-form-a-subdao-at-index-coop-discussion/4130">subDAO</a> and <a href="https://gov.indexcoop.com/t/subdao-index-improvement-proposals-iip-process/4250">subDAO IIP process</a>
</td>
<td>Complete</td>
</tr>
<tr>
<td>Sunsetting of the MGC &amp; ICC delegation management</td>
<td>Provide support for transition from MGC backstop. Provide greater context to ICC on metagov. <a href="https://docs.google.com/document/d/1cR9DHqDwjUOg4JVWX2fOOSer6BOTB-gi4g1Iaj4xEvo/edit">Proposal to Sunset MGC</a>.</td>
<td>In Progress</td>
</tr>
<tr>
<td>Drive positive change by defining GovNest beliefs, principles, and commitments</td>
<td>Define <a href="https://docs.google.com/presentation/d/1pTYJwctkOOvwHQVmFRhkD4tzuQfB2IjcI_9sRDQa-rw/edit#slide=id.g12c9caaa8a2_0_0">GovNest North Stars</a>
</td>
<td>Complete</td>
</tr>
</tbody>
</table>
</div><h1>
<a name="contributors-14" href="#contributors-14"></a>Contributors</h1>
<p>Core contributors to the Nest have remained more or less the same throughout the season, with a few contributors dropping out throughout the season to contribute in other areas. A few contributors have joined GovNest through the GovRep program, but they are not core contributors and only contribute to the Nest on an AdHoc basis while keeping their primary contributions in other areas of the Coop.</p>
<p>The current composition of the GovNest contributors can be viewed in the table below:</p>
<div>
<table>
<thead>
<tr>
<th>Contributor</th>
<th>Owl Level</th>
<th>Change</th>
</tr>
</thead>
<tbody>
<tr>
<td>Mel.eth</td>
<td>Gold+</td>
<td>None</td>
</tr>
<tr>
<td>Shawn16400</td>
<td>Silver</td>
<td>Bronze → Silver</td>
</tr>
<tr>
<td>SixtyKeys</td>
<td>Silver</td>
<td>None</td>
</tr>
<tr>
<td>Puncar</td>
<td>Bronze</td>
<td>None</td>
</tr>
<tr>
<td>Lavi</td>
<td>Bronze</td>
<td>Silver → Bronze</td>
</tr>
<tr>
<td>Asira</td>
<td>Bronze</td>
<td>Joined during S1</td>
</tr>
<tr>
<td>Pujimak</td>
<td>Bronze</td>
<td>Joined during S1</td>
</tr>
<tr>
<td>Mringz</td>
<td>Gold+</td>
<td>Left during S1</td>
</tr>
<tr>
<td>RonaldPhone</td>
<td>Bronze</td>
<td>Left during S1</td>
</tr>
</tbody>
</table>
</div><p>The season 1 proposal had a provision for 8 extra contributors throughout the season, 1 Gold, 2 Silver, and 5 Bronze. However, only a single Bronze contributor has joined after balancing out changes in Owl Level and accounting for contributors who have left the Nest.</p>
<h1>
<a name="finances-15" href="#finances-15"></a>Finances</h1>
<p>A detailed breakdown of the Season 1 forecast monthly spend and overall seasonal budget is shown below. Actual spend to date is also displayed below:</p>
<div>
<table>
<thead>
<tr>
<th></th>
<th>Season 1</th>
<th>Monthly</th>
<th>Over/Under</th>
</tr>
</thead>
<tbody>
<tr>
<td><strong>Core Hire</strong></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td>Forecast</td>
<td>$58,333</td>
<td>$11,666</td>
<td>-</td>
</tr>
<tr>
<td>Actual to date (May 2022)</td>
<td>$46,664</td>
<td>$11,666</td>
<td>-</td>
</tr>
<tr>
<td><strong>Flexible Contributor Rewards</strong></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td>Forecast</td>
<td>$110,000</td>
<td>$22,000</td>
<td>-</td>
</tr>
<tr>
<td>Actual to date (May 2022)</td>
<td>$86,475</td>
<td>$21,619</td>
<td>-1.73%</td>
</tr>
</tbody>
</table>
</div><h1>
<a name="conclusion-16" href="#conclusion-16"></a>Conclusion</h1>
<p>As an inaugural season, the Governance team met expectations, and when asked to pick up new challenges, did so with success.  When resourced adequately through the season, the team did what they said they would do.  Where the team experienced resource gaps and turn over (metagovernance) expectations were missed.</p>
<p>Looking forward to Season 2, the team has the right to continue building ecosystem leadership and evolving governance into the new paradigms required to successfully coordinate resources in web3.  Recognizing that Governance can be a positive driver of Coop culture, the team continues to focus on being a positively collaborative force within the Index Coop, and Defi.</p>
<p>Season 2 adjustments are being collected in the following <a href="https://docs.google.com/document/d/1c5IBI75LKsWGG8xFiGSYX3aCjASA1x4TWl474BPkovw/edit">document <span>6</span></a>.</p>

Governance Nest - Season 1 Review 
  Introduction 
 Index Coop DAO season 1 kicked off in February

Governance Nest - Season 1 Review

<p><strong>IIP</strong> : [to be assigned]<br />
<strong>Status:</strong> [Discussion → Proposed]<br />
<strong>Author(s):</strong> [a list of author(s) names, usernames]<br />
<strong>Discussions-to:</strong> [Create a new thread on <a href="https://gov.indexcoop.com/">https://gov.indexcoop.com/</a> and drop the link here, or link any related threads]<br />
<strong>Created:</strong> [date created on MM-DD-YYYY]<br />
<strong>Quorum:</strong> [5% of <a href="https://dune.com/queries/569413">Votable Supply</a>]</p>
<h1>
<a name="simple-summary-1" href="#simple-summary-1"></a>Simple Summary</h1>
<p>Simply describe the outcome the proposed change intends to achieve. This should be non-technical and accessible to a casual community member.</p>
<h1>
<a name="abstract-2" href="#abstract-2"></a>Abstract</h1>
<p>A short (~200 word) description of the proposed change, the abstract should clearly describe the proposed change. This is what will be done if the IIP is implemented, not why it should be done or how it will be done. If the IIP proposes deploying a new contract, write, “We propose to deploy a new contract that will do x”.</p>
<h1>
<a name="motivation-3" href="#motivation-3"></a>Motivation</h1>
<p>This is the problem statement. This is the <em>why</em> of the IIP. It should clearly explain <em>why</em> the current state of the protocol is inadequate. It is critical that you explain <em>why</em> the change is needed, if the IIP proposes changing how something is calculated, you must address <em>why</em> the current calculation is inaccurate or wrong. This is not the place to describe how the IIP will address the issue.</p>
<h2>
<a name="specification-4" href="#specification-4"></a>Specification</h2>
<h2>
<a name="overview-5" href="#overview-5"></a>Overview</h2>
<p>This is a high-level overview of <em>how</em> the IIP will solve the problem. The overview should clearly describe how the new feature will be implemented.</p>
<h2>
<a name="rationale-6" href="#rationale-6"></a>Rationale</h2>
<p>This is where you explain the reasoning behind how you propose to solve the problem. Why did you propose to implement the change in this way, what were the considerations and trade-offs. The rationale fleshes out what motivated the design and why particular design decisions were made. It should describe alternate designs that were considered and related work. The rationale may also provide evidence of consensus within the community, and should discuss important objections or concerns raised during the discussion.</p>
<h2>
<a name="technical-specification-7" href="#technical-specification-7"></a>Technical Specification</h2>
<p>The technical specification should outline the public API of the changes proposed. That is, changes to any of the interfaces of the Index Coop currently exposes or the creations of new ones.</p>
<h3>
<a name="test-cases-8" href="#test-cases-8"></a>Test Cases</h3>
<p>Test cases for implementation are mandatory for IIPs but can be included with the implementation.</p>
<h1>
<a name="voting-9" href="#voting-9"></a>Voting</h1>
<p><strong>FOR:</strong></p>
<p>Short description of what a future voter will be voting for.</p>
<p><strong>AGAINST:</strong></p>
<p>Short description of what a future voter will be voting against.</p>
<h1>
<a name="copyright-10" href="#copyright-10"></a>Copyright</h1>
<p>Copyright and related rights waived via <a href="https://creativecommons.org/publicdomain/zero/1.0/">CC0</a>.</p>

[FINAL POLL CLOSED] Proposal: Governance Operations Working Group

Governance Nest - Season 1 Review

Standard IIP Template

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