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Vote on proposals

Members vote on Snapshot. The Advisory Board then implements the outcome on-chain. One kind of proposal runs on-chain among members: replacing an Advisory Board member.

Before you start​

You need to be a member. Your NXM holding sets your voting power, see Voting power.

Vote on Snapshot​

Every governance proposal goes to the Nexus Mutual DAO Snapshot space: Nexus Mutual Protocol Improvement Proposals, Nexus Mutual DAO Proposals, signalling votes, and Advisory Board proposals. You vote there with your voting power, gas-free. See Governance for what each type covers.

For an Advisory Board proposal, the Advisory Board recommends a default outcome. Your vote supports or rejects it. The default passes when the 15% rejection quorum stays unmet.

After Snapshot closes, the Advisory Board members cast their on-chain votes to match the outcome, and the Governor contract executes the proposal after the timelock. You can follow those on-chain votes on the app's governance page.

Replace an Advisory Board member on-chain​

A member proposal swaps one Advisory Board seat, and it runs on-chain among members.

Any member holding more than 100 NXM can raise one.

Cast your vote from the proposal in the app: for, against, or abstain. The app calls the Governor contract with your choice. Your vote locks your NXM transfers until the proposal becomes executable. Member proposals tally NXM voting power and need 15% of the NXM supply to participate for the vote to count.

Voting power​

Your voting power equals one plus the NXM you hold. NXM you have delegated to a staking pool votes with that pool's manager.

It is capped at 5% of the total NXM supply, on Snapshot and on-chain alike. The app shows this cap alongside the vote.

Reading a proposal in the app​

The app shows a proposal's phase: voting, timelock, executable, executed, defeated, or cancelled, with a countdown to the vote deadline.

Voting opens four hours after the proposal is published, and runs for 3 days. An Advisory Board proposal closes as soon as three Advisory Board members vote in favour. Advisory Board proposals tally one vote per Advisory Board member.

A carried proposal then sits in a 24-hour timelock before it executes.

Where to look​

Governance covers the proposal types, the Advisory Board, and the process in depth. Discuss proposals on the governance forum.