Any potential request for funds from the DAO Treasury should start as a Request for Comment (RFC) before a DAO proposal is raised.
Creating a Nexus Mutual DAO Proposal (NMDP) is the second step in the DAO governance process.
Any member can start RFC discussions, create, post, and vote on NMDPs.
Step 1: Posting a Request for Comment (RFC)
Every governance discussion should start as a Request for Comment (RFC) to get feedback from the community and, if applicable, the Investment team.
RFCs should be posted for at least 12 days before they are raised as formal NMDPs. Of course, they can be posted for longer periods, but a minimum is necessary to ensure members have adequate time to give feedback ahead of a formal proposal. This feedback can be used to revise your proposal ahead of a NMDP posting.
The format for RFCs is an abbreviated version of the NMDP format:
Title. [RFC]: [Concise title for proposal]. For example: [RFC]: Should we give BootNode a grant to design an ERC-4626 compliant covered vault?
Summary. Short summary, no more than 250 words, of your proposal.
Rationale. Explain why your proposal is important: what problem does it solve?
Specification. The what and how of your proposal. What is the purpose of your proposal and how does it solve the stated problem, benefit members, or improve the DAO or protocol?
Step 2: Posting an NMDP
When you write an NMDP, you should include the required information, which is specific to the NMDP type. At a minimum, you must include:
Title. NMDP: [Concise title for proposal]. For example: NMDP: Should we give BootNode a grant to design an ERC-4626 compliant covered vault?
Summary. Short summary, no more than 250 words, of your proposal.
Specification. The what and how of your proposal. What is the purpose of your proposal and how does it solve the stated problem, benefit members, or improve the DAO or protocol?
Budget request. If funds are being requested, then a breakdown of resources and expenses with line-item requests is required either in the main NMDP or a supplementary proposal.
Proposal status. Depending on what stage your proposal is in, you must include:
- Stage. One of the following should be added: 1) Open for Comment, 2) Closed, 3) Open for voting, 4) Accepted, or 5) Rejected.
- If you choose to conduct a signaling vote using Snapshot, please update status to Signaling Vote and link to that vote. Signaling votes can be used but are not required.
- If it is in the Open for Vote stage, add the link to the Snapshot proposal
Step 3: Review and discussion period
An NMDP should be open for review and comment for at least seven (7) days before transitioning your proposal to a Snapshot vote.
NMDPs can be in the open for comment stage for longer periods of time, but there is a minimum to ensure review, feedback, and discussion can occur before the proposal is moved to a Snapshot vote.
Step 4: Snapshot vote
Once a proposal has been posted on Snapshot, members can vote on the proposal. Snapshot votes must be open for a minimum of five days before they close and the results are finalized.
Step 5: Vote outcomes
An NMDP Snapshot vote requires a majority to pass. If a vote is accepted, then the proposal will be executed via the Mutual’s oSnap integration per the specifications in the proposal.
NMDP Templates
In addition to the required sections that are noted and outlined in Posting an NMDP, your grant proposal must include the following sections outlined in each of these templates depending on the nature of your funding request.