Superconformal Index, BPS Monodromy and Chiral Algebras

We show that specializations of the 4d $\mathcal{N}=2$ superconformal index labeled by an integer $N$ is given by $\textrm{Tr}\,{\cal M}^N$ where ${\cal M}$ is the Kontsevich-Soibelman monodromy operator for BPS states on the Coulomb branch. We provide evidence that the states enumerated by these limits of the index lead to a family of 2d chiral algebras $\mathcal{A}_{N}$. This generalizes the recent results for the $N=-1$ case which corresponds to the Schur limit of the superconformal index. We show that this specialization of the index leads to the same integrand as that of the elliptic genus of compactification of the superconformal theory on $S^2\times T^2$ where we turn on $\frac{1}{2} N$ units of $U(1)_r$ flux on $S^2$.