About the Nexus Mutual DAO Proposals category

Governance Discussions Nexus Mutual DAO Proposals
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A Nexus Mutual DAO Proposal (NMDP) is a proposal that is used to propose DAO treasury management strategies, submit a grant request for funding, create a new DAO team, or request a renewal and funding for an existing DAO team. These proposals are used to engage with the community, reach consensus, manage the DAO treasury, and distribute funding from the DAO treasury to fund projects and teams.

Members can post and discuss proposals on the Nexus Mutual governance forum. All proposals need to follow the guidelines outlined in the Nexus Mutual DAO Proposal (NMDP) framework outlined below.

Once an NMDP has gone through the discussion process, it will be put to a vote on the Nexus Mutual DAO Snapshot space. All Nexus Mutual members can vote and enjoy gas-less voting on Snapshot.

The default outcome will be approve unless Nexus Mutual members vote to deny and meet quorum (15% of the NXM token supply).

DAO Treasury Management

In September 2024, Nexus Mutual members voted to approve kpk’s (formerly karpatkey) proposal to manage the Nexus Mutual DAO treasury, the pool of funds set aside to fund DAO-based initiatives.

Since that time, kpk has provided treasury updates on the governance forum. They also track the Mutual’s DAO treasury performance on the kpk website.

DAO Team Funding Requests

Those who want to put their talents and skills to work for the DAO can contribute to an existing team or establish a new team that can serve the DAO for the long-term and provide a necessary function that is not being fulfilled within the DAO. For information on the existing teams, see the latest DAO team funding request on the governance forum.

Anyone interested in starting a new DAO team can reach out through the Nexus Mutual Contact Form and BraveNewDeFi will respond promptly. Of course, anyone can put forward an RFC on the governance forum, but the existing DAO team members are happy to provide feedback and support to anyone interested in working for the DAO.

NMDP Governance Process

Step 1: Post a Request for Comment (RFC)

Every governance discussion should start as a Request for Comment (RFC) to get feedback from the community.

RFCs should be posted for at least 7 days before they are raised as formal NMDPs. The feedback you receive can be used to revise your proposal ahead of an NMDP posting.

RFC Format

  • Title. [RFC]: [Concise title for proposal]. For example: [RFC]: Grant to Build a Distributor on Top of Nexus Mutual

  • Summary. Short summary, no more than 250 words, of your proposal.

  • Rationale. Explain why your proposal is important: what problem does it solve?

  • Specification. The what and how of your proposal. What is the purpose of your proposal and how does it solve the stated problem, benefit members, or improve the protocol?

  • Budget Request. If funds are being requested, then a breakdown of resources and expenses with line-item requests is required either in the main NMDP or a supplementary proposal.

  • Proposal Status. Depending on what stage your proposal is in, you must include:

    • Stage. One of the following should be added: 1) Open for Comment, 2) Closed, 3) Open for voting, 4) Accepted, or 5) Rejected.
      • If you choose to conduct a signaling vote using Snapshot, please update status to Signaling Vote and link to that vote. Signaling votes can be used but are not required.
    • If it is in the Open for Vote stage, add the link to the Snapshot proposal

Step 2: Post an NMDP

If your RFC is posted for at least 7 days and receives support, it can move to a formal NMDP. If there is any feedback on your proposal, that should be incorporated into your proposal before it moves to the NMDP stage.

NMDPs should follow the same format as listed above, as well.

Review and Discussion Period

An NMDP needs to be open for final review and comment for at least seven (7) days before it can be posted by one of the Advisory Board members on Snapshot.

NMDPs can be in the open for comment stage for longer periods of time, but there is a minimum to ensure review, feedback, and discussion can occur before the proposal is moved to a Snapshot vote.

Step 3: Snapshot Vote

After the necessary review period, the proposal can be put to a Snapshot vote. The Snapshot vote should include all of the text included in the NMDP proposal and a link to the proposal should also be included on Snapshot. Once you are ready to move your NMDP to a formal vote, please reach out to BraveNewDeFi, who can coordinate with the Advisory Board members to get the vote live on Snapshot.

Timeframes for Votes

When governance proposals go to vote, there is a standard timeframe for the voting period:

  1. Proposal is created. The vote is put onchain and on the Nexus Mutual DAO Snapshot space for voting.
  2. Proposal is open for voting. All governance proposals have a three (3) day voting period.
  3. Post-vote timelock period. Once the voting period closes, a proposal is subject to a 24-hour timelock period where no action can take place until the timelock period passes.
  4. Proposal outcome. If a proposal succeeds, it can be executed after the timelock period ends. If a proposal is defeated, no action is taken after the timelock period ends.

For NMDPs, the default outcome will be approve unless Nexus Mutual members vote to deny and meet quorum (15% of the NXM token supply).

For more information on Nexus Mutual’s governance process, see the Governance page in our documentation.

If you have any questions, please reach out to us through the Nexus Mutual contact form on our website.