# Index Cooperative (INDEX) — machine-readable summary

> FORTUNA SIGNAL · FORA-01 evidence dossier · Researched 2026-09-15 · https://ron-delhaye-studios.github.io/fortuna-signal-live/tokens/index-token.html

## Definition
INDEX is the governance token of Index Cooperative, a DAO launched in October 2020 by Set Labs that builds structured on-chain products — tokenizing asset-management strategies as ERC-20 tokens, including index products like the DeFi Pulse Index (DPI), leverage tokens, and yield products.

## What the holder owns (FORA-01 Q1)
INDEX is the ERC-20 governance token of the Index Cooperative DAO (Ethereum): holders vote on fees, new products, team composition, and treasury management. Max supply 10,000,000. Products include DPI, MVI, leverage and yield tokens; index product tokens (like DPI) are separately mintable/redeemable.

## Verification verdict
Class C (Class C) — FORA-01 scale: verification, not a quality ranking.
q1 VERIFIED · q2 VERIFIED · q3 VERIFIED · q4 VERIFIED · q5 UNVERIFIED

## Plain-language utility
Governance token for Index Cooperative — holders vote on protocol decisions.

## Key risks & notes
No formal project whitepaper was found; documentation is spread across docs.indexcoop.com and governance forums. Risks: TVL and usage well below 2021 peaks, competition from crypto ETFs and newer structured-product protocols, DAO governance apathy, smart-contract risk across complex multi-module products, and no direct fee-capture mechanism for INDEX beyond governance rights.

## Primary source
- (no whitepaper found — drawn from official project documentation)

---
Machine summary generated at build time from the same fields as the human page. Free educational content — not investment advice.