I’m strongly of the opinion that rewards need to be long term sustainable, even though I do see arguments for short term extra rewards in a bootstrapping phase.
I believe we should conduct the token mint, experiment with reward structures and use that experience/data to devise some long term sustainable ones.
The best place to get the extra rewards from on an ongoing basis is the 2.5% sell spread which has burned about 142,000 NXM since launch. Increasing cover prices harms the user we want to encourage the most. This approach funds rewards from the user we want the least, the shorter term speculator.
You could even argue this token mint is like a retrospective allocation of the sell spread already burned to stakers.
I support this proposal at the 250K mint as well as a mechanism to continuously replenish and grow the fund such as using part of the sell spread that @Hugh mentioned. I believe this is a net positive and the benefits gained from having such a fund will more than outweigh the dilution.
I appreciate being suggested as a multisig signer and would happily accept if I was voted as one of the signers. I currently manage $2.2M publicly, $1.1M as a social trader on TokenSets and $1.1M as the portfolio manager for the Yam dao, and have built trust and rapport with the broader DeFi community.
I’m with Lasse on the inflation of 100k NXM. I also would love to participate in the multi-sig if I can be helpful.
The group of suggestions looks great but in case anyone’s not aware, BatmanDeFi is no longer participating in the community (as much as I appreciated his work previously).
Update: The governance vote has passed successfully, and the Nexus team is ready to mint the 250k NXM.
As a next step, we need to determine the multi-sig participants. To make this process as democratic, we’ll be looking to conduct a public vote on snapshot. For anyone who wants to be a signer (except for Rox or whoever else joins the multi-sig from Nexus Mutual), complete the following instructions below:
Write a forum response below with the details
a. Who are you?
b. How have you been involved with Nexus Mutual so far?
c. Why do you want to participate in the multi-sig?
Post your nomination on Twitter with the tag #NexusMutants
The deadline to submit your nomination is next week, Monday 25th January noon UTC.
After that, we’ll create a Snapshot poll where everyone can vote with their NXM on the multi-sig signers.
The purpose of this public discovery is to give everyone a chance, even if they have not been nominated here in the forum before, and to allow NXM holders to learn more about the people who would control the multi-sig.
I am tagging here everyone who has signaled interest so far to become a signer (but really everyone is encouraged to reply):
a) Partner at 1confirmation
b) seed investor, creator of nexustracker.io and @NexusMutualBot on Twitter
c) contribute to an ecosystem of projects building on top of Nexus
a. A few things I have done publicly in the DeFi space: TokenSets as a social trader, run an educational DeFi channel on YouTube called Level Up! DeFi, and recently accepted the role as portfolio manager for Yam Protocol.
b. I joined as a Nexus Mutual member in late July/early August of 2020. Since then I’ve actively participated in claims voting, staking, educational write-ups on Twitter, and helped coordinate between developers and protocols for various initiatives that Nexus has considered.
c. I believe strongly in the future of Nexus Mutual. I have a public and trusted presence in this space and am someone the community can trust as a multi-sig signer.
a) Co-Founder Delphi Digital, Partner Delphi Ventures
b) Investor, worked on several long form research reports to educate clients and the community about Nexual Mutual, author of proposal to pause MCR growth
c) To continue contributing to the growth of the protocol
a. Lasse Clausen, founding partner of 1kx
b. First fund to contribute to the Nexus Mutual bonding curve. Active cover underwriter / staker. Some contributions to discussions. Fighting Degen Spartan FUD.
c. Through our full time work as investors we have a good helicopter view of DeFi and the latest developments. That can be helpful in making good decisions for the Nexus Mutual community.
I’d like to ask what ideas you guys have for the fund. As I see it, the limiting factor right now is distribution. How would you use the fund to build out distribution?
a) Chief DeFi Officer at Zapper and DeFi educator / investor
b) been buying cover since Nov 2019 and staking NXM since summer 2020. I’ve made tutorial videos on buying cover and staking NXM as well as podcasts, Ethereal talks, and livestream interviews with Hugh.
c) I’m here for the long run. I not only want to help Nexus grow but I wholeheartedly believe in the team with Hugh and Roxanna.
a) Market Research Analyst at CoinGecko, Ex-Actuary.
b) Been active in governance voting, forum discussion and staking since I joined back in Feb 2020. Currently serving as one of the discord’s community moderators.
c) NXM is my biggest bag after BTC and ETH, I intend to see it succeed. Having a signer with actuarial knowledge will be helpful.
a) Baby crypto whale, born late 2012. Ethereum genesis sale contributor. DeFi is my home.
b) Invested early in NXM. Have a decent stake, that I’m staking :). Community moderator and contributor.
c) To do my best at contributing to the growth of the Nexus Mutual.
this is post is amazing! best way to learn from great investors and supporter of the project!
impossible to compete with these highly experience members in the community
a) Former M&A analyst. Full-time investor in real-estate & crypto.
b) I joined as a Nexus Mutual member in early July 2020. Stepped up when market sentiment was very low to keep answering people’s questions and make them understand how amazing Nexus is. Now serving as community moderator. Also, I have been pretty active on BadgerDAO’s forum and discord to educate people before the start of Shield Mining.
c) NXM is by far my biggest position (eth exposure, iykyk). Here for the long run, can’t wait to see Nexus grow to billions.
This sounds interesting. Never been part of one, but it surely does sound well. Care to suggest one solution? I’ve only heard and trust (based on history) the Aragon DAO. If others would chime in to this idea, that would be appreciated.
I’m especially interested to learn more about the features of such one DAO, and how it would apply in our case! Thank you!
a. Managing Partner of Hartmann Digital Assets & Council Member of Enzyme (Melon) where we use both an Aragon DAO and Gnosis Mutli-sig to manage our annual inflation pool.
b. NXM has been one of our largest positions and long term oriented investments. I’ve been an active advocate of the project publicly both to bring in more cover and grow the capital pool. I’m an active DeFi super users of several protocols and look to bring more of the protocols I support to NXM.
c. Being a long term oriented holder, I’m looking to protect token holders while at the same time giving the project’s ecosystem the resources it needs to scale fast. This is a key balancing act of an inflation driven fund. Also bringing the experience from partaking in the Melon Council multi-sig.
Through my fund, we’ve participated and contributed to the Mutual multiple times since December 2019. We’ve also brought a substantial amount of capital through our Limited Partners.
As a VC fund, we’re naturally long term partner committed to see Nexus Mutual grow into a multibillion underwriter. But additionally, we’ve already DD’ed and are about to invest in 1-2 products built on top of NXM.