Nexus Mutual is a decentralized people-powered protocol that is governed by members. Through protocol governance, members can propose and vote on changes to any aspect of the protocol. These decisions determine the Mutual’s future operations.
Nexus Mutual Protocol Improvement Proposals (NMPIP)
A Nexus Mutual Protocol Improvement Proposal (NMPIP) is a proposal to signal or enact change to the Nexus Mutual protocol. These proposals are used to engage with the community, reach consensus, and enact proposals if approved through an on-chain vote.
Members can create a Nexus Mutual Protocol Improvement Proposal (NMPIP) to share on the forum and discuss with other members, who discuss and vote on those proposals.
Protocol Governance Power
Governance Security
Voting Incentives
Quroum Requirements
NMPIP Categories
Advisory Board
The Advisory Board is currently made up of five (5) members of the Mutual and contains members of the founding team and other experts. The goal is to have a qualified mix of individuals covering three broad skill sets of:
- Technical expertise: smart contract security and blockchain
- Technical expertise: insurance and mutuals
- General expertise: legal, regulatory, corporate governance, and business management
Advisory Board members are elected by Nexus Mutual members through governance.
If a vote to appoint or replace an Advisory Board member is approved, the elected member will be granted the Advisory Board role through the MemberRoles contract, which you can find in the Nexus Mutual SDK.
The Advisory Board has power in limited circumstances and is primarily there to provide qualified technical guidance to the members of the Mutual on improvement proposals as well as take emergency action, should it be required. The scope of the Advisory Board’s power in governance is outlined in the NMPIP Categories section.