Nexus Mutual is a decentralized people-powered protocol that is governed by members. Members determine how DAO treasury funds are allocated and spent. These funds are often used to fund DAO teams or grants that improve awareness and education or technical infrastructure and capabilities.
Nexus Mutual DAO Proposals (NMDPs)
A Nexus Mutual DAO Proposal (NMDP) is a proposal that can be used to submit a grant request for funding, create a new DAO team, or request a renewal and funding for an existing DAO team. These proposals are used to engage with the community, reach consensus, and distribute funding from the DAO treasury to fund projects and teams.
Members can post, discuss, and vote on proposals using Snapshot. Proposals fall into one of the following categories.
- Grant request. Members that wish to contribute to the DAO by working on single-purpose projects, providing short-term services, building tools for members, or other means can submit a grant-specific NMDP. The required information for a grant-specific NMDP is included in the NMDP template entry.
- DAO team creation request. If a member, or group of members, believe another team can provide long-term value to the DAO, protocol, and members on a whole, they can write and post a team creation request NMDP. The required information for a team creation request NMDP is included in the NMDP template entry. Learn more about the process on the Nexus Mutual DAO page.
- DAO team funding request. If an established team is nearing the end of their funding period, they can create a team funding request NMDP. The required information for a team funding request NMDP is included in the NMDP template entry. Learn more about the process on the Nexus Mutual DAO page.
Members can create a Nexus Mutual DAO Proposal (NMDP) to share on the forum and discuss with other members, who discuss and vote on those proposals.
DAO Governance Power
Voting power in DAO governance, which uses Snapshot, is equal to the sum total of an individual member’s NXM tokens.
Signaling votes
These are not required but may be used to gauge sentiment as part of a protocol or DAO proposal. To gauge sentiment, someone can conduct a Snapshot vote with the title “Signaling vote: [Title of proposal]”.
These votes should be open for a minimum of three (3) days.
DAO Treasury Votes
When a Nexus Mutual DAO Proposal (NMDP) is ready to transition to a vote, it should be posted on the Nexus Mutual DAO Community Snapshot space.
NXM holders can vote on NMDPs on Snapshot, which doesn’t incur any gas costs for voting participants. If a funding request is successful, it will be permissionlessly executed via the Mutual’s oSnap integration.
Creating a new proposal on Snapshot
Once a proposal is ready to be posted on Snapshot, a member with at least 1000 NXM needs to create the voting proposal on the Nexus Mutual DAO Community Snapshot space. This requirement is in place to prevent any malicious or spam proposals from being posted.
Voting period
Any NMDP vote should be active for at least five (5) days to give members enough time to review the proposal and cast their vote.