NOTICE OF GENERAL MEETING
Nexus Mutual Ltd. (“the Company”) is providing advance notice to members that a general meeting will be held on February 17th 12:00PM UTC to February 21th 12:00PM UTC, 2022, via Google Meet.
Meeting details and instructions are as follows:
Nexus Mutual Ltd General Meeting
17 – 21 February 2022
Google Meet joining info
Video call link: https://meet.google.com/kkv-ckzg-gcz
Or dial: (GB) +44 20 3957 0193 PIN: 630 596 060#
More phone numbers: https://tel.meet/kkv-ckzg-gcz?pin=4066000601856
This notice is given at least 14 days prior to the general meeting, in a manner allowed by the Company’s articles. Furthermore, the meeting will be held in a manner allowed by the Company’s articles.
Members can review the two documents linked below for the full details.
- Notice of General Meeting: https://nexusmutual.io/pages/Nexus-Mutual-Notice-of-General-Meeting-17-Feb-2022.pdf
- Special Resolution: https://nexusmutual.io/pages/Nexus-Mutual-Special-Resolution-17-Feb-2022.pdf
As pictured below, a Special Resolution poll will determine whether the mutual transitions to a stateless DAO. This requires members approving and agreeing to the terms outlined in the DAO Member Agreement and the other documents included below. If the poll (Snapshot vote) is approved, then the capital pool assets will be transferred from Nexus Mutual Ltd. to the Terrapin International Foundation, a Panama Private Interest Foundation.
The three documents included at the end of this section make up the DAO Member Agreement, Asset Transfer Agreement, and the Bylaws of the Foundation. Members have reviewed these documents and provided feedback during the comment and review period. These documents will be the subject of the upcoming Snapshot vote. Members can review the proposed execution documents below:
- Terrapin International Foundation Bylaws: https://nexusmutual.io/pages/Nexus-Mutual-Regulations-PIF-PROPOSED.pdf
- DAO Membership Agreement of Nexus Mutual: https://nexusmutual.io/pages/Nexus-Mutual-DAO-Member-Agreement-PROPOSED.pdf
- Asset Transfer Agreement: https://nexusmutual.io/pages/Nexus-Mutual-Asset-Transfer-Agreement-PROPOSED.pdf
OPERATION WARTORTLE: NEXT PHASE
The next phase of Operation Wartortle is summarized above. Members can also refer to the Operation Wartortle Next Steps: Draft Execution Proposal, which was the draft proposal that members previously reviewed and discussed leading up to the General Meeting.
The next phase of Operation Wartortle does not include any changes to the existing smart contracts. After this vote takes place, members can discuss other potential changes to the mutual.
The Nexus Foundation provided a summary of the draft execution proposal on 22 December, 2021, which was left open for review, comment, and discussion until 28 January, 2022. During this period, the Directors and other informed members answered questions from members on the mutual’s social channels (e.g., Discord, Telegram, etc.), discussed the draft execution proposal on weekly community calls, and held three Ask Me Anything (AMA) events on Discord Stages to provide an overview of the proposed way forward and answer any questions members had regarding the proposed transition.
After providing members with time to comment and review, this execution proposal will move to a formal Special Resolution poll conducted via Snapshot vote, which will be held during the General Meeting, as stated above.