Should we send the ETH PoW proceeds to the Capital Pool or the Community Fund? As DAI or wNXM?

For the last several weeks, members have evaluated strategies to capture value from the ETH PoW holdings the mutual will have if a PoW hard fork occurs after the merge happens in September.

To summarize, the merge on Ethereum will transition the network to Proof-of-Stake. Some stakeholders intend to fork the network to maintain one (or more) Proof-of-work chain(s).

When this happens, the mutual's assets will be duplicated on these other chains. The community has already signaled support to sell these assets and bring them back on the PoS chain. The question that remains is how those funds will be used once the ETH PoW assets are sold.

Members have discussed potential options and there are two clear choices outlined on the Nexus Mutual community forum:

• Option A: Use 50% of the proceeds to buy DAI and 50% of the proceeds to buy wNXM. Send DAI to the Capital Pool and wNXM to the Nexus Treasury.

• Option B: Use 100% of the proceeds to buy wNXM. Send wNXM to the Nexus Treasury.

Members can review the previous Snapshot signaling vote and the full text of the proposals on the forum:

• ETHPoW Execution, Allocation Discussion | Next Steps: https://forum.nexusmutual.io/t/ethpow-execution-allocation-discussion-next-steps/906
• Should we grant a 3rd party the ability to sell our PoW ETH on a CEX post-merge? (Snapshot signaling vote): https://snapshot.org/#/community.nexusmutual.eth/proposal/0x63aeb6f18576feafe3eb1147b51449a8f94ba74cf0f83e7187709697aa8a6044
• Getting ready for an upcoming Ethereum PoW fork: https://forum.nexusmutual.io/t/getting-ready-for-an-upcoming-ethereum-pow-fork/893