The Community Fund is pleased to begin it’s consideration for the community granting process for Hats.Finance
Hats is a decentralized cybersecurity incentive network. Governed by its community stakeholders - Hackers, Projects, and Token holders — to incentivize protocol security and responsible disclosure.
NXM will be one of the first Hat incentive vaults providing active protection to Nexus Mutual. This incentivizes vulnerability disclosure for NXM smart contracts while farming rewards in the form of hats tokens.
We are creating an incentive mechanism, complimentary to Nexus Mutual, that utilizes the development culture of Ethereum to help secure it.
Hat.Finance would require the following as support from the Nexus team
-Assign a committee to look through disclosure reports in addition we will be happy to get:
Deposit NXM in the hats NXM pool
Propose a boost in NXM tokens for NXM covered pool bounties
Marketing and communication help
Hats V1 is planned to be released by the end of May.
We don’t need a budget just for NXM to participate in the protocol
All proposals will be considered based on their potential impact on the mutual.
- Awareness/education Projects that seek to grow awareness of Nexus in the wider community and to help members understand how the mutual works. Examples could include writing docs, newsletters, producing videos, memes, NFTs.
- Distribution/sales Projects that focus on b2b partnerships or increase distribution of cover at the source of the primary purchase (ie, on DeFi apps). Examples could include building a distributor on top of Nexus, integrations with other projects, or designing new products.
- Technical improvements/capability Projects that seek to expand functionality of the mutual or development of new products. Examples could include contributing to open source code, designing user interfaces, building a reinsurance layer or constructing bundled yield bearing and protected products
Once a proposal has been up for discussion on here for 7 days it will be closed and we will then translate it to the snapshot for voting. After the snapshot has concluded and if it has produced a favorable outcome, we will distribute the funds.
Details about the Community Fund can be found on this page of our Docs