[NMDP #3]: Add oSnap to the Nexus Mutual Snapshot space

Summary

The current Nexus Mutual DAO proposal (NMDP) governance process uses offchain Snapshot voting to approve or deny Nexus Mutual DAO Proposals. The adoption of oSnap for NMDPs would eliminate the need for multisig execution by automatically executing successful Snapshot votes onchain, thus consolidating the governance process to one gasless vote on Snapshot that results in onchain execution.

Proposed oSnap Settings

• Voting Quorum: 50,000 NXM would be required to achieve quroum for any Snapshot vote that would move funds out of the DAO Treasury.
• Voting Period: The minimum voting period would be five (5) days.
• Challenge Period: The challenge period would be set to 36 hours.

The below is an option that is not specific to oSnap but a general setting that is proposed for the Nexus Mutual DAO Snapshot space.

• NXM Requirement to Create Proposal on Snapshot (i.e., Proposal Validation Setting): The NXM requirement is proposed to change from 10 NXM to post a proposal on Snapshot to at least 1,000 NXM to post a proposal on Snapshot.

Voting Options

Members can select one of the following choices:

• Yes, adopt oSnap
• No, do not adopt oSnap

Note

This Snapshot proposal was posted on behalf of Bobbay from the UMA community.