How should we utilize the wNXM purchased during Operation TM-12?

Voting ended almost 4 years agoSucceeded

During Operation TM-12, the mutual purchased 441,771 wNXM using 7,997 ETH from the capital pool. Now that the buyback has been completed, members can vote to determine the best options to utilize the wNXM purchased during the buyback.

This proposal will allow members to use weighted voting. Members can vote on multiple options and split their voting weight according to how they believe the wNXM would be best utilized.

Allocate your NXM voting weight in proportion to the option(s) you would like to see the mutual use the 441,771 wNXM
Any individual option that does not reach 10% of the vote is allocated to the other options in proportion to their vote share (quorum necessary to reduce complexity of implementation)

The options presented below were outlined in the Options for using wNXM from Operation TM-12 forum post linked below. All options with the [Specifics to be decided by future Snapshot votes] language will require future votes to determine the details of how that wNXM would be used for those options, as the current language is not detailed enough to implement as is.

Option 1: Burn the wNXM
Option 2: Use wNXM as rewards to begin creating long-term aligned group (Create Long-term Aligned Group) | [Specifics to be decided by future Snapshot votes]
Option 3: Increase Nexus Foundation funding (Increase Foundation Funding)
Option 4: Stake it against selected risks on the Nexus Mutual platform (Stake NXM in Nexus Mutual) | [Specifics to be decided by future Snapshot votes]

Members can review the original Options for using wNXM from Operation TM-12 forum post here: https://forum.nexusmutual.io/t/options-for-using-wnxm-from-operation-tm-12/765

Each option above is listed in the forum post and included below for reference:

Burn the wNXM: https://forum.nexusmutual.io/t/burning-the-wnxm/764

Use wNXM as rewards to begin creating long-term aligned group: https://forum.nexusmutual.io/t/boost-rewards-for-long-term-stakeholders/762

Increase Nexus Foundation funding: https://forum.nexusmutual.io/t/using-wnxm-from-operation-tm-12-to-capitalize-the-foundation/766

Stake it against selected risks on the Nexus Mutual platform: https://forum.nexusmutual.io/t/staking-wnxm-inside-nexus-mutual/763