Prior to Strategy 2020 the Maximum % of growth of an intelligent cube due to indexes governing setting was used to limit the growth of Intellgent cubes over time due to the creation of indexes. Indexes are created in memory on the Intelligence server as part of the in-memory cube instance. They were used to improve subsequent query performance against the Intelligent cube.

The expected behavior was that once the governing setting was reached, unused indexes were dropped from memory to make room for newer indexes. A discussion of pre-Strategy 2020 behavior can be found in the article, KB33449: Intelligent Cube size increases over time in the MicroStrategy Intelligence Server 9.4.x - 10.x .
In addition, it was observed that in certain cases the Maximum % growth setting did not constrain the growth of Intelligent cubes and it was possible for the size of a cube to increase beyond the governing setting. In this case, it was necessary to periodically reload the cube instance into memory, dropping all indexes for the cube to limit it's growth.
Starting in Strategy 2020, unused cube indexes are swapped to disk instead of being dumped from memory. If the indexes are needed again, they are reloaded into memory from disk, instead of being regenerated.
All cubes respect the governing setting. This avoids situations where a cube instance grows larger than the governing setting.
When indexes are swapped to disk they are stored in the <cube instance id>_objects and <cube instance id>_runtime_objects folders. The contents of these folders are in <object id>.obj format. These folders are in the regular cube storage location for the corresponding project.