How to Participate in Nexus Mutual Governance
Overview of the proposal process and the difference between on-chain and Snapshot proposals/votes.
Members can contribute to the mutual by participating in the governance process, which is used to propose and vote on changes to the protocol, capital pool investment allocations, Nexus Hub and working group formations, and grant requests from the Nexus Treasury.
Below is an overview of the two kinds of proposals, subsequent process to propose, and transition to a vote.
Members can propose changes to Day-to-Day Operations (i.e., changes to the core smart contract code, capital pool investments, etc.) and Critical Decisions (e.g., wind up/shut down of the mutual, changes to Advisory Board power, etc.). You can read more about on-chain governance in the Governance section of the docs.
Members who want to post a proposal regarding changes to the protocol (i.e., new cover products, changes to the smart contracts, adjustments of parameters, alterations to tokenomics/bonding curve, etc.), can submit a written post on the forum.
For on-chain governance issues, posts need to stay active for at least 14 days and any on-chain vote needs to be coordinated with the Advisory Board ahead of posting.
Putting the Vote On-Chain
Once your proposal has been active on the Nexus Mutual forum for at least 14 days and you have coordinated with the core team, you won't need to put the proposal on-chain. The Advisory Board should create on-chain proposals, as they need to ensure the technical requirements are included when the vote is submitted on-chain.
If you put a vote on-chain without submitting a proposal to the forum AND coordinating with the Advisory Board, then you will be giving Ethereum miners/stakers free transaction fees. Please be sure to follow proper procedure.
The Nexus Treasury (formerly, the Community Fund) was created to fund community-driven projects and initiatives. Any proposals that request funding from the DAO treasury (e.g., grant requests, partnerships, Nexus Hub budgets, etc.) must go through Snapshot Governance.
Members can submit their written proposal on the forum. Proposals should outline the problem the proposal aims to solve, the potential solution, the resources and contributors necessary to work toward the proposed solution, a budget and rationale, and a request for comments, as well as a clear statement of when the proposal will transition to Snapshot vote.
Proposals directed for Snapshot governance need to be left open for at least 7 days before they can be transitioned to a vote.
Once your proposal has been posted, your statement of purpose outlined with the above information, and the timeline to vote has been shared for at least 7 days, you can transition your proposal to a Snapshot vote.
- 1.
- 2.On the left-hand menu, select New Proposal.
- 3.Enter the title from your forum proposal and include your description, which should be a summary of your proposal with clearly defined choices that members can select when they vote on your proposal. Once you have filed this in, select Preview to ensure everything is correct.
- 4.Once you have confirmed the information, select Continue.
- 5.Select the correct Voting System for your proposal and provide the choices you defined within the summary portion of the Snapshot vote.
- 6.Select the voting period, which should span five (5) days to provide members with enough time to review, decide, and vote on the Snapshot proposal.
- 7.Once you have confirmed all the information and ensured everything is clear and correct, you can select Publish.
- 8.You will be prompted to sign a message to publish the Snapshot vote.
Once you have published your vote, please share with one of our Mutant Moderators or the Head of Communications (BraveNewDeFi) on Discord.