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Nexus Mutual DAO

People join as members of the Nexus Mutual DAO and access the benefits of membership. Nexus Mutual is a member-driven protocol and DAO. People contribute to the protocol when they buy cover, underwrite risk, or participate in governance.

Members who want to work to further the protocol's development, growth, awareness, or adoption can contribute to the DAO through a grant or a DAO team. Grants and teams are funded through the NMDP process; successful proposals receive funding from the DAO treasury (formerly referred to as the Community Fund).

People that contribute should help further the Nexus Mutual mission.

Mission​

Our mission is to provide onchain protection against crypto risks and beyond.

DAO treasury​

The idea for the DAO treasury originated from a member's post on the forum. After the idea was discussed, Proposal #116 was voted on and passed by members to form a DAO treasury multisig and to mint 250,000 NXM for the treasury to use for grants. The Advisory Board, formally constituted as the Foundation Council of Terrapin International Foundation, established to provide the DAO with its legal and operational structure.

Members decide what community projects and teams are funded from the treasury.

Multisig signers​

The treasury multisig signers were decided through a Snapshot vote. The community voted for the following members to act as the treasury multisig participants:

The multisig signers are responsible for distributing funds from the DAO treasury for NMDP votes that meet the approval threshold.

DAO treasury address​

The DAO treasury is managed across several multisigs, as noted below:

Contributing to the DAO​

Members can contribute to the DAO in a variety of ways. Reviewing governance forum discussions, providing comments and feedback, and voting in governance is an important way all members can contribute.

Those who want to put their talents and skills to work for the DAO can create an NMDP to request a grant for a single-purpose project or another purpose. Any grant proposal should highlight how someone's work will benefit the growth and development of the Mutual. Learn more about the NMDP process on the Nexus Mutual governance forum.

Members can also contribute to an existing team or establish a new team that can serve the DAO for the long-term and provide a necessary function that is not being fulfilled within the DAO.

Before creating an NMDP team creation request, review the existing teams.

DAO teams​

Currently, there are several DAO teams. These teams work on behalf of Nexus Mutual DAO members, and their funding is approved through the NMDP process. You can review the DAO team funding proposals on the governance forum to learn about each team and their team members, priorities, duties, and more.

DAO team funding​

If the DAO team budget request proposals are approved by members through Snapshot governance, the DAO treasury sends funds to the team multisigs. With the Q1 & Q2 2023 DAO teams budget request proposal, members voted to streamline the payment process. All of the funding for DAO teams is held in the DAO teams multisig (formerly, the Community multisig) and payments are managed from that multisig.

For more information about the DAO teams, see the latest DAO teams funding proposal on the Nexus Mutual governance forum.

DAO teams (formerly, Community) multisig​

The DAO teams Safe has a three-of-five (3/5) signing threshold.

Past team funding proposals​

To see recent and past DAO team budget requests, head to the DAO Team Funding section on the Nexus Mutual governance forum.

Proposing a new team​

Members who want to launch a new team can write and post a team creation request NMDP. They should include the following information.

Title. NMDP: [Concise title for proposal]. For example: NMDP: Create Merch team

Summary. Short summary, no more than 250 words, of your proposal.

Specification. The what and how of your proposal. What is the team and how does it add value to the DAO, benefit members, or improve the protocol?

Purpose. What broad purpose does your team serve?

How team aligns with DAO values, mission. How does your team help further the DAO's mission and align with the Mutual's values?

Priorities. What time-specific projects does your team plan to focus on over the next six months?

Ongoing responsibilities. What duties and responsibilities will your team have over time that are not specific to the next six months?

Team members. What are the roles within your team; who are the members; what is their background/biography; and what is the salary request for part-time or full-time contributors; what is the payment request for contractors?

Budget request. If funds are being requested, which should include salaries, payments, and any other costs, then a breakdown of resources and expenses with line-item requests for the next six months 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

NMDP Template | Team creation requests​

  • Title
    • Summary
    • Specification
      • Purpose
      • How team aligns with DAO values, mission
      • Priorities
      • Ongoing responsibilities
      • Team members
        • Description of role
        • Biography
        • Salary, Payment
      • Budget request
    • Proposal status

Requesting funding for an existing team​

Established teams that are nearing the end of their funding period can write and post a team funding request NMDP. They should include the information included above, with the exception of the values/mission alignment, and the following:

Six-month performance review. Did your team deliver all of the priority projects and deliver value for the DAO and members? How did your team perform compared to the previous proposal?

NMDP Template | Team funding requests​

  • Title
    • Summary
    • Specification
      • Purpose
      • Priorities
      • Ongoing responsibilities
      • Team members
        • Description of role
        • Biography
        • Salary, Payment
      • Budget request
      • Six-month performance review
  • Proposal status