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Value

2. VALUE. Rate the value each Nest provides the Index Coop. 1 is very low value, and 5 is very high value. A value of N/A indicates no opinion.

Negative sentiment �Gov: 7

Index council: 5

Community 4

Finance: 3

Growth: 3

Product: 1ve

Positive sentiment

Product: 33

Growth 30

Finance: 30

Community 26

Index council: 25

Gov: 22

Nests with the lowest value rating: Governance and Index Council

Nests with the highest value rating: Product and Growth

FEBRUARY 2022

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Leadership Capability

73%�Positive sentiment

3. LEADERSHIP CAPABILITY.. Rate our level of confidence that leaders of the Nest will carry the Index Coop successfully through the next nine months.

FEBRUARY 2022

GROWTH

FINANCE

COMMUNITY

INDEX COUNCIL

PRODUCT

GOVERNANCE

78%�Positive sentiment

56%�Positive sentiment

73%�Positive sentiment

66%�Positive sentiment

Google “faith in leadership” = 90%

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Transparency

4. TRANSPARENCY. Rate your level of confidence that the Nest is providing the right level of transparency.

Nests with the lowest transparency rating: Index Council and Growth

Nests with the highest transparency rating: Community and Governance

FEBRUARY 2022

Top 2 box:

Community: 28

Gov: 27

Finance: 26

Growth: 22

Product: 22

Index council: 16

Bottom 2 box:

Index council: 20

Growth: 14

Product: 10

Community: 8

Finance: 8

Gov: 7

SG reaction: ICC is measurably lower (chart this for visualization)

MQ discuss with Shawn

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Individual Experience

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Governance Proposals

2. I regularly vote on Governance proposals on Snapshot. (Governance is when INDEX holders vote on internal decisions and ideas.)

71% regularly vote. 29% don’t.

FEBRUARY 2022

Make this a KPI?

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Metagovernance Proposals

2. I regularly vote on Metagovernance proposals on Snapshot. (Metagovernance is when INDEX holders vote on other protocols like AAVE and Compound.)

58% regularly vote. 42% don’t.

FEBRUARY 2022

Make this a KPI?

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What would incentivize you to vote more

4. What would incentivize you to vote more often?

FEBRUARY 2022

Better visibility, UI, dashboard views and notifications

Perks for voting: POAPs, NFTs, Tokens

More context and clarity, time to understand. Education

Ability to impact. If my vote mattered

THEMES

Better UI, dashboard views and notifications

A gov and meta-gov portal where the meta-gov representatives within IC make meaningful commentary rather than the channel we see in discord. All proposals should ideally be shown in a simple way and surface level agendas of stakeholders should be in bullets followed by the commentary if you drill down.
Better visibility of the proposals
better UI and notifications, I can't at a glance tell what I have voted on in snapshot
A board showing statistics on who is voting most
Leaderboard of who voted the most.

Perks for voting: POAPs, NFTs, Tokens

POAP’s or other types of NFT’s
Awesome POAPs
rewards for voting
Perks for voting and/or feeling like my vote actually matters when people coming in slinging tens of thousands of INDEX tokens on a vote compared to my less than equal amount.

Ability to impact. If my vote mattered

iRight to vote.
If my vote matteredI don't have enough voting power
Having INDEX tokens
Having greater voting power
financial compensation
A realistic opportunity to impact the result.
More participation to opportunities within different nest , and most especially enough index token incentives to make reasonable vote that would hold
Opportunity to hold more index
idk INDEX lol

More context and clarity, time to understand. Education

More active discussion and educational posts
More context
Clarity on Voting parameters and amount of Index tokens required to vote
educational guides on the votes being held
Having a quick summary of the vote and why it matters within a channel update may be useful to make things more tangible for others to vote. For me, I already vote as often as I can.
understanding the context of the meta-votes better.

Miscellaneous

I vote when an interesting proposal is written. If it's not interesting I don't vote.
For Internal decisions, the voting should not be on the basis of number of votes but each individual should have only one vote... NFT's can be used.
On metagov an abstain option - vote for quroum as the details are not soemthing I usually have time to understand in order to vote yes/no
More meaningful weighting towards contributor voting. Contributor voting is a charade. We work for VCs and DFP
If quorum wasn't decided by 1 voter
having more responsibility delegated to me -- votes from community, folks ive referred to buy $index, maybe a pod's multisig
Fewer things to vote on
Once I know I'm more involved with the coop community as a contributor who is recognized and remunerated I'd like to vote.
A feeling of being valued
To express our opposition to the outbursts of some of our members

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What would incentivize you to vote more? 1

Better UI, dashboard views and notifications

A gov and meta-gov portal where the meta-gov representatives within IC make meaningful commentary rather than the channel we see in discord. All proposals should ideally be shown in a simple way and surface level agendas of stakeholders should be in bullets followed by the commentary if you drill down.
Better visibility of the proposals
better UI and notifications, I can't at a glance tell what I have voted on in snapshot
A board showing statistics on who is voting most
Leaderboard of who voted the most.

Perks for voting: POAPs, NFTs, Tokens

POAP’s or other types of NFT’s
Awesome POAPs
rewards for voting
Perks for voting and/or feeling like my vote actually matters when people coming in slinging tens of thousands of INDEX tokens on a vote compared to my less than equal amount.

Action: FOMO voting (track most active voters - airdrop Utility NFT/ teeshirt / Index token for top 10) Collaboratoooors? Airdrop season 1 budget to voters (shared savings - split the savings?)
Budget allocate funding for driving voting

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What would incentivize you to vote more? 2

Ability to impact. If my vote mattered

iRight to vote.
If my vote matteredI don't have enough voting power
Having INDEX tokens
Having greater voting power
financial compensation
A realistic opportunity to impact the result.
More participation to opportunities within different nest , and most especially enough index token incentives to make reasonable vote that would hold
Opportunity to hold more index
idk INDEX lol

More context and clarity, time to understand. Education

More active discussion and educational posts
More context
Clarity on Voting parameters and amount of Index tokens required to vote
educational guides on the votes being held
Having a quick summary of the vote and why it matters within a channel update may be useful to make things more tangible for others to vote. For me, I already vote as often as I can.
understanding the context of the meta-votes better.

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What would incentivize you to vote more? 3

Miscellaneous

I vote when an interesting proposal is written. If it's not interesting I don't vote.
For Internal decisions, the voting should not be on the basis of number of votes but each individual should have only one vote... NFT's can be used.
On metagov an abstain option - vote for quroum as the details are not soemthing I usually have time to understand in order to vote yes/no
More meaningful weighting towards contributor voting. Contributor voting is a charade. We work for VCs and DFP
If quorum wasn't decided by 1 voter
having more responsibility delegated to me -- votes from community, folks ive referred to buy $index, maybe a pod's multisig
Fewer things to vote on
Once I know I'm more involved with the coop community as a contributor who is recognized and remunerated I'd like to vote.
A feeling of being valued
To express our opposition to the outbursts of some of our members

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Actions: 1

Increased visibility

More regular touchpoints - individual converations seeking feedback
Increased DAO contributor votes vs. index token holders

Leadership capability

A lot to consider

Transparency:

Do more on transparency - Communicating out what we are doing
Action: use the daily touch point
Skeuomorphism:
Action: building what is comfortable vs. the future

Action: define the Governance principles

Transparency?

Action: move more open conversations to the discord

Default conversations on discord
Pair down if needed

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Actions: 2

Voting on internal IIPs

29% is not informed / engaged
Energy put into DSM - but not actually voting

Where else can we provide visibility
Action: Governance community manager to drive up the votes

Contributor and community manager to help people vote
Urgent vote metagovernace vote alert for top 10 votes

Who is running investor relations
1kx, wintermute,
AlphaGovernor news

Action: develop a voting wack-bot (automated emails)
Seshbot - contributor voting thing -

Early warning voting bot system in discord

Action: add governance participation as KPI
Action: What % of golds do not vote?
Action: non voters - delegate to someone who will vote
Action: campaign - nonvoters delegate your vote "Get out the vote"

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Actions: 3

Voting on metagov

Number is actually lower

Principle: we will become what our match ups

Wasted energy -
Action: add Metagovernance participation as KPI
Votes are wasted energy:
Action: consider removing MGC to drive up participation

Culture

“Governance has an outsized impact on the Coop”
Be the nest we want IC to become
Action: define the principles - hold each other accountable to those behaviors

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Actions: 4

Better UI

Action: add votes cast & leaderboard to vote.indexcoop.com (mel)
Action: explore working with messari to deliver improvements
Idea: giving people more context
Idea: open to a simple POAP or NFT program
UI - if we can gamify it, we can feed the gamification into the delegation selection
UI - you are working on the internal UI and I am trolling Messari to see if they want to play

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Actions: 5

Influence

Idea: delegation to consistent voters - perhaps leaders of the leaderboard?
Metagov votes make no sense for most voters, how to provide better context?
Impact - this one has been echoed over and over. We just need to prioritize finding a delegation solution - someone has likely solved it (MAKR?)
Context - we talked about rabbithole reports, but we have no action underway. This might be an easy add-in and possible trial as a bounty
impact - here need to figure out what we want to ask for, 1KX / SET note opens the door, we just need a solution / proposal

Perks

Gamify voting
Normie winner of the week - reward 100 index 1x per month
Win a shirt for voting

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Tools

Positive sentiment overall. Gitbook least popular.

FEBRUARY 2022

The following tools are available to support Nest/Pods and the organization. How effective is each tool being used? [Notion]

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Challenges/area or improvement re: tools

~50 comments in general but 1 comment gov related:

Desperately need tool for collective decision making

What are the biggest challenges/areas for improvement regarding the tools we use at the Coop?

FEBRUARY 2022

CRM

FEWER TOOLS�FEWER CHANNELS

DECISION-MAKING �TOOLS

VOTING �NOTIFICATION

MORE CONSISTENCY �& EASIER ACCESS ACROSS THE ORG

PROJECT �MANAGEMENT

MORE FOCUS �ON PEOPLE,

LESS FOCUS ON TOOLS

DATA �VISUALIZATION

all good actually. Kudos!

Fewer tools

No clear guidelines on what tool to use for what task.

We use and try to implement too many. It seems as soon as someone pitches a tool to us we HAVE to implement it even when it may not actually be appropriate or may cause more admin.

Many, sometimes it's becomes heavy

Fewer channels

So much information that finding your way around especially as a new joiners could be hectic

Reduction in number of channels.

too many places

Decision making tools

Desperately need tool for collective decision making

Considerations for better tools to analyze and formulate lists of key decisions makers at DAOs and analytical tools to provide portfolio assessments for DAOs to better suggest solutions. Again, legal structure for the DAO is important and legal support with decision making can assist greatly with painting a picture and direction for the entire group. It assists with focus.

We also need to be quicker with our decision making or else we may get stuck bickering or brainstorming while the competition advances ahead of us.

More consistency and easier access across the organization

The adoption of the tools by everyone across the organisation and the standards of use being the same

Access to some of the tools are not given. Even at request

Tools that reduces permission requests rates and tools the encourages more transparency and also encourages more decentralized and inclusive equity and inclusion of all contributors globally irrespective of your geographical location and financial status. We also need to consider adopting more decentralized social tools.

Bandwidth

There is a tension between having public facing community tools and organization and planning tools existing largely as one bucket. The Notion goes some way towards solving this problem. Overall, right now we need to think less like a DAO and think more like a startup company.

Project management

I think we need a project management tool (like Asana)

Task management and document organization

Project management and general coordination

Clear understanding of onboarding for new people

Voting notification, file storage and automation, transparency across nests (meeting recordings etc)

Multi - lingual support would be much more appreciated.

Data visualization

data visualization / dashboard / analytics are over-present in web2 tech companies, and we avoid those, but keep the dependence on slide decks, then we become an unfocused bureaucratic organization

Most of the real work gets done in private Discord group chats. Makes it harder to know who's working on what across the org. Wish we had a way to give space for longer, free-form conversations across nests and pods. Maybe we could experiment with encouraging more spontaneous meetings like gather.town

I'm nervous about moving too heavily into KPIs ‒ most organizations go through a KPI phase and then realize it's not the way. I think we need to recognize that before it's too late.

CRM

Start using a Sales CRM for the BD team to bring transparency in deals in pipeline

better coordination between the tools

It's a bit unclear as to how we use notion. BD in particular needs to improve the use of notion.

Aligning the entire Coop around a common set of tools and venues for work is very important in my opinion, and while I feel that we are making good progress in this direction, it is critical for holistic operational success.

Maybe less focus on tooling. People find ways.

Getting people involved seems to be a struggle. It's difficult to get info out quickly while also motivating people to respond.

yes

Many non-contractual contributions have not been quantitatively evaluated.

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Pride in Index Coop

What makes you proud to be associated with the Index Coop?

FEBRUARY 2022

STRONG REPUTATION

THE PEOPLE

PROMISE OF DEFI �& WEB 3

THE DIVERSITY �OF THE TEAM

INDEX COOP MISSION�& PRODUCT LINE

GETTING DAO EXPERIENCE

The People

Optimistic group of people all working toward the same goal

the people

The group as a whole.

Also good vibes.

full of incredibly smart people

Great group of people

Working with talented people

Peer Group

talented owls

The people and

Empathy is evidence and I'm on my way to financial freedom

I love the people

The people. Nothing but good things to say about the intentions of leaders.

Because Some contributor care to associate with me.

Index Coop Mission and Product Line

the mission

Market leader in on chain index product space.

And the coop is the next big thing.

great product line

Index Products

Biggest decentralized asset manager

Being a leader in the decentralized index space

the drive and enthusiasm for inching the world towards a better place that's shared among the contributors

I love the products

we make safe products that are accessible to the little guy

I am proud to work in the Crypto space and be a part of a market leading organisation

Promise of DeFi and Web 3

We are building the future. If we get this right we can help change the world.

Index funds bring wealth to the masses, IC is bringing wealth to the next generation of the masses safely

I think Index could be at the forefront of making defi available to billions of people around the globe. It's well respected and

It's exciting to be on the cutting edge of Web3

bankless finance

The idea to fractionalize Investment and Iron out the volatility. Basket Investing always works.

working with some of the best minds within the Defi ecosystem!

Broadening my horizons and way of thinking about Web3 and the DeFi, creating a better perspective about

Innovative Defi Index products that help in building wealth

Getting DAO experience

working at a progressive DAO

Pioneering how to run a complex, strategic business as a DAO

Love this DAO, it just makes me feel happy to participate in the creation of DeFi products and actually contribute to eventually get paid as well

Work life balance is awesome.

Strong reputation

It's properly structured, No interviews which provides equal chance for everyone, awesome team of contributors,

inclusion and friendliness

It's one of the most scaled DAOs by active contributor count. We are setting a (hopefully good) example for entire space.

We have a high level of professionalism and our team is highly motivated and energized about the brand. I have my own place in the Coop and the freedom to participate in a healthy variety of ways. I am compensated well for my work, and I feel like my opinion actually does matter so long as I voice it.

The Diversity of the Team

Efforts on diversity and inclusion

Building and growing something with an international team is interesting

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Suggestions

What one thing would you improve with Index Coop?

xStop talking about org change that distracts from real work

FEBRUARY 2022

Focus on profitability.

Help us break even

We have crazy levels of energy. Be bold and make quick decisions

Ensure equal opportunity to contribute. Cut the red tap and nepotism

Stop talking about org change that distracts from real work

THEMES

Ensure equal opportunity to contribute

I think people in the coop are holding information and task to people they know personally. I suggest there should be an improvement on this
Please create structured induction for people who would like to join the coop and support/train them.
Call it nepotism or red-tapism or favouritism, all are rampant. Cheerleaders are being elevated whereas true hardworkers are sidelined. I personally know 3 contributors who had shed their blood & sweat but were sidelined. But at the same time, ppl who are close to leads are elevated. This is basic human nature which needs to be tackled.

We have crazy levels of energy. Be bold and make quick decisions

Be bold, we're creating something new. We need not copy what went before. Seize the initiative, make it work, show the way.
Have people dedicated to assigning/following up on tasks for each pod. We have crazy levels of positive energy, we just need to get people focused on high impact projects
Consider my views and appreciate your willingness to learn from the group with this survey. I desperately want to see this organization thrive but I find that decisions are slow or influx as the culture is at times influx.

Focus on profitability not org change. Help us break even

Our income does not justify our expenses, and I don't see the execution plans to get us to breakeven
Find products that will provide the most TVL and sell them like crazy. There is no other way to survive. Most products in the stable currently provide little to no bottom line profitability.

Stop talking about org change that distracts from real work

Stop talking about org
Splitting of discord is needed 100% NOW. Community managers need to manage the other discord and allow the contributors to contribute. We also need to ensure when going through large change it doesn't distract from what we are trying to achieve. INDEX 2.0 ground to a halt the entire business and was distractive to what needed to be done. 5 months later it feels like the endless workshops were wasted.

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Culture

In a growth stage. Forming, storming and norming.

Gov Related

The index coop is an evolving system of governance, creating an environment for better understanding of Web3 product with the interest of it contributors in mind
The culture seems to be in flux. The posts concern me. Members feeling unappreciated concerns me. Unity is necessary especially from the top. Felix’ comments saddened me even further. Anyone reading these posts would either stay away with a ten foot pole or assume that we are not unified. We need to make sure that all are aligned with mission. Also, we need to make sure certain types of thoughts are relayed through the right channels… probably not governance voting posts.
there are a ton of positive things but this is top of mind: meta-gov weapon in the making, disconnect between regular contributor identity and most large stakeholders

FEBRUARY 2022

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Leadership Capability

3. LEADERSHIP CAPABILITY. Rate your level of confidence that leaders of the Nest will carry the Index Coop successfully through the next nine months.

Nests with the lowest leadership confidence rating: Index Council and Governance

Nests with the highest leadership confidence rating:

Bottom 2 box:

Index council: 13

Gov: 7

Community 7

Finance: 6

Growth: 6

Product: 6

Top 2 box:

Finance: 32

Community 32

Product: 30

Growth 30

Gov: 27

Index council: 23

FEBRUARY 2022

MQ discuss with Shawn

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Participation in Decision-making

1. I am able to participate in Index Coop decision-making in a meaningful way.

1. I am able to participate in decision-making in a meaningful way.

Positive sentiment dropped from 82% to 68%

AUGUST 2021

FEBRUARY 2022

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Trust in Leadership

5. I trust the Index Coop Council.

5. I trust the Index Coop leadership

Positive sentiment decreased from 87% to 75%

AUGUST 2021

FEBRUARY 2022

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Fairness

6. The Index Coop feels fair.

7. The Index Coop feels fair

Positive sentiment decreased from 30% to 25%

AUGUST 2021

FEBRUARY 2022

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3 Leadership: Community is confident in Nest Leadership*

Observations:

GovNest: 17% have no opinion on leadership

ICC: low + very low confidence was, rather low (20%)

Hypothesis:

H1: V1 transparency issue was likely a factor

H2: Low confidence in linking strategy to mission / vision likely drove this down (BC 33)

H3: Drop in “principles guiding decision making” likely drove this down (BC65)

H4: If the Bear market continues & we need to make tough choices, this may plummet & cause departures

Possible Actions:

A1: ICC V2 error on the side of being over transparent

A2: Starting in June, Nest leaders revisit IC Vision and relink nest specific strategies to nest metrics and deliverables

A3: Based on Reco 1: Nest leaders revise season 2 proposal with hard lines to vision & strategies

A4: C-Nest spin up a WIN team to reaffirm people and business principles (prep for continued downturn)

A5: Gov Nest - increase educational / outreach / innovation components

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Our vision…

We create decentralized financial products that unlock prosperity for everyone

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Guiding Principles For Working Together

We work together towards shared goals: We believe in constructive contribution and working alongside others to achieve success together.

We’re on an never ending journey of growth & improvement: We value growing as individuals, as a cooperative, and as a broader community. We respectfully challenge each other and our assumption, constantly searching for new areas to grow, whatever “grow” might mean. We recognize our current plan can always be improved and that the world is dynamic and constantly changes - thus we collectively need to adapt and change too.

We foster a sense of belonging: Contributors feel like they are part of something they are proud/passionate about. We’re all humans and have all chosen to share our lives together

We foster a sense of safety: Contributors feel they can communicate openly w/o judgment and/or personal remarks. We are respectful of differing opinions, viewpoints, and experiences�
We interact with empathy: We demonstrate empathy and kindness toward other people. We listen to all parties to really understand where they are coming from, their needs, their concerns, and fears. Through building common understanding, we are able to come up with solutions that address all concerns and work towards a shared goal

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