Hi Armor Knights –
I am sure most of you are well aware the community over at Nexus Mutual has been discussing the option of transferring 8,000 ETH from their pool to the community fund to do the following:
- Providing liquidity for wNXM / ETH LP on Uniswap v3
- Decrease MCR%, allowing the mutual to retain earnings and premiums
- Funding new grants, encouraging growth and development
- Conducting other services that would benefit the community
The proposal can be found here: Proposal : Operation TM12 - Governance - Nexus Mutual Community Forum
The forum is currently locked as the proposal is now being voted on their governance forum.
See here: Nexus Mutual
I believe this proposal is overall very positive for the development of NXM and since Armor finance is built upon NXM - we should consider voting in favor.
Armor finance’s Vault currently possess over 339K NXM that are being used to stake on NXM’s protocols.
There are some technical difficulties that would stop the team from implementing some mechanism of proxy-voting and therefore we need to decide as a whole if we’re in favor or not.
As it seems, the proposal will reach quorum and passes but I think it is our duty to signal our support to the NXM community as one of the biggest staker on Nexus Mutual but also because we’ve taken away the (technical) ability for these NXM holders to participate in Nexus Mutual’s governance process.
Since we either vote for or against - please reply to this thread and let us know if you’re supporting this proposal. I am hoping Armor will then be able to use the locked NXM to vote on this proposal on behalf of the Armor community.
Thanks!
Important disclosure: Our fund (Collider Ventures) are participants and large holders of both NXM and Armor. We obviously speak from a position but one that we think is mutually beneficial for both communities.
