Skip to main content

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, build risk management businesses, assess claims, 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. Teams and contributors should share the Mutual's values.

Mission​

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

Values​

Nexus Mutual members value:

  • Trust–our commitment to transparency and our track record for paying claims should speak for itself, as we know we earn trust through our actions.
  • Egalitarian–we are building an open protocol and DAO, so that protection is accessible by anyone.
  • Integrity–we engage honestly with one another, keep our word, and always choose the right decision even when it's difficult.

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.

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 will sign off on, but not decide, which proposals pass and do not pass. They will enact the will of the wider Nexus Mutual community who vote with their NXM.

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. Our Head of Community offers several initiatives for people to get involved within Nexus Mutual and DeFi, as well. Check them out!

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 grant process on the Nexus Mutual DAO Proposals (NMDP) page.

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

Community team​

The Community team provides support to and educational content for members, staking pool managers, DAOs and our wider community in order to expand coverage. Design communication channels to drive community engagement, member retention.

This team was first established in 2021 and has since changed name and split into two separate teams (i.e., Community and Marketing).

Team members​

Head of Community (FT). Responsible for community management, content production and coordination across the social channels, including content delivery in targeted channels. Conducts regular research on ways to improve member experience within Discord, governance forum, etc. Supports knowledge and project management.

  • Bio: Sem joined the Community team part-time in February 2022 and later transitioned to a full-time team member in June 2023. She has a background in freelance governance research, notably with reState Foundation on the Future of Governance Toolkit. Her career spans roles as a VC Associate focusing on emerging fintech, product management, organizational design consulting, and human-computer interaction research. Sem earned an MSc and BSc from the Technical University of Munich and is fluent in English, German, and Turkish.

Marketing team​

The Marketing team works to expand Nexus Mutual’s brand awareness, engagement with target audiences and drive growth in new membership. This team creates and executes marketing campaigns; develops and distributes content; and manages Nexus Mutual’s marketing channels.

This team was originally incorporated with the Community team but has a proposal to establish their own team, given Marketing and Community have different objectives.

Team members​

Director of Marketing (FT): Responsible for creating content for the Nexus Mutual account, developing and implementing comprehensive social media strategies to increase brand awareness, engagement, and generate leads for our B2B and B2B2C products.

  • Bio: Phil joined Nexus Mutual in July 2024. He has 10 years of experience from startups to Fortune 1000 companies and a degree in Marketing. Prior to joining Nexus, he was the Content Communications Lead for Unstoppable Domains, a unicorn in the blockchain space. He got into crypto through NFTs at the end of 2020 and has never looked back.

R&D team​

The R&D team helps overcome hard problems faced by the protocol and ecosystem. They strive to decentralize the problem-solving function, increase transparency, and attract skilled members who want to solve difficult problems.

Team members​

Head of R&D. Responsible for leading projects, managing contributors, working with DAO and Foundation members to increase participation in research, analytics, protocol design and product design.

  • Bio: Rei has served as Head of R&D since Q1 2023. He began working on Nexus Mutual in May 2018 as the first full-time employee, covering economic design, legal set-up, actuarial modeling, documentation, and early business development. Rei has been an Advisory Board member since February 2020. Previously qualified as a UK actuary, Rei held a variety of back-office and front-office corporate roles in reinsurance and brokerage.

Dune Wizard (FT): Responsible for writing SQL queries in Dune, capturing accurate current and historic information across the Nexus Mutual smart contracts.

  • Bio: Tomasz is an experienced Data Engineer specializing in analytics engineering with a wealth of hands-on experience contributing to the Dune Spellbook repository. Proficient in SQL, dbt, and Python, with a keen ability to build robust analytics dashboards utilizing platforms like Dune Analytics and Power BI.

Product & Risk team​

The Product & Risk team ideates on existing cover products and develops new cover products to drive cover sales, reach new markets, and provide members with superior protection against the greatest risks onchain and offchain. This team supports new and existing syndicates/distributors building on top of the Mutual. They also research new risks, develop risk frameworks and pricing models.

Team members​

Head of Product & Risk (FT): Conducts research on new risks and feasibility assessments for new cover products and cover wording development. Manages the Product and Cover listing process within the Mutual and regularly reviews new protocols for listings in the Nexus Mutual UI. Works with the Legal team to create new cover wording, schedule, and annex documents to support product development and listings. Reviews correlation levels across active cover and works with the BD team to track cover expiries, so the BD team can perform outreach and source demand for upcoming open capacity. Works closely with staking pool managers in the Nexus Mutual ecosystem and manage the Community Staking pool. Handles the Mutual's response to claim events.

  • Bio: BraveNewDeFi has moved to a full-time position on the Product & Risk team, where he conducts research on new risks and feasibility assessments for new cover products and cover wording development. Brave manages the Product and Cover listing process within the Mutual and regularly reviews new protocols for listings in the Nexus Mutual UI. He also works with the Legal team to create new cover wording, schedule, and annex documents to support product development and listings. In addition to this work, he reviews correlation levels across active cover and works with the BD team to track cover expiries, so the BD team can perform outreach and source demand for upcoming open capacity. As part of this role, he will work closely with staking pool managers in the Nexus Mutual ecosystem and manage the Community Staking pool. BraveNewDeFi will continue to serve as the point person when claim events occur.

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 DAO teams page on the Nexus Mutual DAO website.

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