The INDEX token 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
Here is a breakdown of the initial token distribution at launch:
The INDEX token derives value from being a governance token; in practice, this takes the form of voting on improvement protocols for the Index Coop (IIPs) and deciding which products to launch and maintain.
The INDEX token is also 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.