I first proposed the Nexus Hub dynamic working group model at the end of April 2021. After receiving community feedback, I shared another refined post entitled Nexus Hub: Proposal, Structure, Next Steps on 6 May 2021. That post outlined my preliminary vision for what the Hub model could look like.
The response was overwhelmingly positive, and another member reached out to me asking if we could talk about marketing ideas for the Marketing Hub.
The first meeting @jer979 and I had was four (4) days after he commented on my proposal. That meeting was the beginning of Mutant Marketing.
Mutant Marketing Hub Charter
You can review the full Hub Charter for the full details, but the major provisions within the Hub Charter will be presented below.
The purpose of Mutant Marketing is to grow membership of the mutual.
The aim of Mutant Marketing is to accelerate membership growth rates by creating new demand for Nexus cover products.
Mutant Marketing’s communication arm will create knowledge-based resources to empower the Marketing arm and, in time, support other Hubs within Nexus Mutual.
Establish Nexus Mutual as the perceived blue-chip cover provider in DeFi.
Once the Hub is established, marketing strategies will be developed and executed for the following two quarters. This period gives the Hub time to evaluate and iterate based on changes within the market.
Marketing strategies will be developed and discussed within the Hub but outside contributions are welcome. If other members have great ideas, we want to hear them!
As the strategies are created, Nexus Writers will create forum posts summarising the approach with the rationale and supporting resources required. These posts will be open for review, comment, and discussion for five (5) days.
At the end of the five (5) days, the Mutant Marketing team will review any comments or criticisms and discuss within the Hub. All of these discussions will be held in Discord channels any members can see.
Marketing strategies will be shared and refined through community forum posts. Feedback from the community, other Hubs, and the Core Team will all be valuable in the creation of marketing strategies to drive growth in membership and cover sales.
After Mutant Marketing goes through the above three steps, a final marketing strategy will emerge. A budget will be developed for the relevant strategy and a final forum post will be created.
Members will be able to review this post for seven (7) days. If the majority of comments on the final strategy or budget are critical or negative (greater than 50% of comments posted), Mutant Marketing will revise the proposal and resubmit.
If limited objections occur on the forum, then the marketing strategy will move to a Snapshot vote for community approval.
If a Yes vote is achieved, the marketing strategy will become the mandate for the next two quarters.
Measuring Success: Key Metrics
When we first began discussions around possible marketing strategies, the Hub leadership both agreed that a strategy without measurable results from baseline data was wasteful and a disservice to mutual members.
The following baseline metrics will be used to measure Mutant Marketing’s success on a quarterly basis:
|Baseline Data (as of 19 July 2021)|
|Number of Nexus Mutual Members||7,347|
|Percentage of DeFi Covered by Nexus||0.7695152%|
|Cover Policies Sold||5099|
|# of DAO Treasuries Using Nexus||0|
|# of Nexus Embassies||0|
|Risk Assessors Staked NXM||890,862.3812|
|Percentage of NXM Staked/Total Supply||~12.90%|
Mutant Marketing Expectations
Quarterly Reviews: The initial six-months of Mutant Marketing will be necessary to establish the Hub, train team members, implement strategies, etc. After that initial six-month period, Mutant Marketing will be subject to quarterly reviews. Performance reports will be posted on the forum with measurable achievement noted using the baseline data as a reference point.
Regular Reporting: Mutant Marketing will release a monthly memo regarding the progress of the Hub.
Transparency: All communication related to Mutant Marketing will take place in Discord. All conversations will be held in the open and the wider community can ask questions or provide comments in the General channel. There will also be a biweekly Marketing Standup call that takes place on Mondays. Any community member can join and listen in to this call.
Mutant Marketing Commitment
The Nexus Hub working group system is designed to give power to Nexus Mutants. This power is granted by the community with the expectation that the actions of any Hub, or its members, propels the protocol forward and delivers value to mutual members.
Any efforts put forward by Mutant Marketing shall be done to better educate DeFi users and CeFi users. Our aim is to bring the Nexus’ cover protections to more participants in the decentralised ecosystem.
Any Nexus Mutant who joins is granted power to act as a representative of the mutual. Any abuse of that power can lead to termination from the Hub.
Without the support of our fellow Nexus Mutants, this Hub is nothing.
The only way forward is together.
Community Review and Snapshot
This proposal is open to review for the next seven (7) days. We welcome community discussion around our Hub Charter.
This will serve as the foundational pillar of Mutant Marketing.
At the end of the seven (7) day period, this proposal will proceed to Snapshot vote.
If the Nexus Mutant community approves this Hub Charter, Mutant Marketing will be officially established.
Schedule for Other Hub Documents
Tuesday (20 July)
Wednesday (21 July)
The Marketing Strategy [Quarters 1 & 2] will be posted along with the Quarters 1 & 2 Budget.