Now that the first week has concluded, this discussion is moving to the Snapshot signalling vote phase.
Thank you to all of the community members who shared their views—the proposed answers shared on the forum were used to create the choices for the signalling votes outlined below.
Timeframe for voting
There are three (3) non-binding Snapshot signalling votes, which will be open for voting from Monday (21 Aug) at 1pm UTC until Saturday (26 Aug) at 1pm UTC.
The results of these non-binding signalling votes will be used as key input for the specific parameter packages discussed in more detail during the Part 2 discussion.
Edit: the Part 1 Snapshot signalling votes have closed. You can find a breakdown of the results in the sections below.
Results of the Snapshot Signalling Votes
Over 1.3m NXM voted in the three (3) signalling votes last week, which represents 20% of the total NXM supply and 31% of the NXM supply that isn’t held in the wrapped NXM contract.
Thank you to all of the members who participated in the signalling votes!
Below, you can find the results of the three (3) signalling votes.
Liquidity Parameters Discussion (Part 1) Signalling Vote: Question 1
Question 1: What amount of NXM/ETH should be able to be redeemed and exit in the short-term at a price close to book value (BV)?
Members signalled their support for the following options:
- Option A: 15% | 1,014,000 NXM, 21,900 ETH | 20.12% (272k NXM) signalled support
- Option B: 25% | 1,690,000 NXM, 36,450 ETH | 11.52% (156k NXM) signalled support
- Option C: 30% | 2,028,000 NXM, 43,750 ETH | 46.34% (627k NXM) signalled support
- Option D: 40% | 2,704,00 NXM, 58,300 ETH | 22.02% (298k NXM) signalled support
In total, members voted with 1,353,088 NXM to signal support for the choices above.
Liquidity Parameters Discussion (Part 1) Signalling Vote: Question 2
Question 2: Over what timeframe (the initial exit period) should this NXM be redeemed?
Members signalled their support for the following options:
- 2 weeks | 0% (0 NXM) signalled support
- 1 month | 79.41% (1.1m NXM) signalled support
- 2 months | 20.59% (279k NXM) signalled support
In total, members voted with 1,353,089 NXM to signal support for the choices above.
Liquidity Parameters Discussion (Part 1) Signalling Vote: Question 3
Question 3: In the long term, how long should it take to get down to the Minimum Capital Requirement (MCR) based on the current cover amount, assuming everyone exits at maximum speed?
Members signalled their support for the following options:
- 1 year | 14.28% (176k NXM) signalled support
- 2 years | 9.1% (112k NXM) signalled support
- 3 years | 76.63% (944k NXM) signalled support
In total, members voted with 1,231,476 NXM to signal support for the choices above.