Proposal guideline

As a DAO, none of these guidelines are set in stone and can always be iterated upon if desired. For feedback or criticism please feel free to share your thoughts.

Introduction

This document will serve as the guidelines for all proposal related discussion. Below you will find the rules that Nyx DAO have determined for the types of proposals which are acceptable, and the manner in which they should be brought to fruition, discussed, voted on, and implemented.

Proposals that do not follow these guidelines should be removed and resubmitted in accordance with the guidelines and format described below unless otherwise discussed and deviations approved by the members of the DAO.

General Proposal Guidelines

• All proposals shall have a discussion thread created in the #nyx-proposal discord channel prior to submitting an onchain proposal.

• Proposals shall follow the typical format outlined in the proposal structure.

• Proposals may only have “For” and “Against” voting options.

• Proposals shall have defined parameters including, but not limited to: timeline for implementation/execution, budget, etc.

• The DAO has established a general contingency rule due to quickly changing market conditions. If a proposal passes but market conditions no longer make the proposal feasible due to exceeding the slippage %, the DAO shall resubmit a vote.

Proposal Process

1. Once you have an idea for a proposal that you’d like to pitch to the DAO, create a channel for your proposal.

2. The first post in the channel should include as much information as possible. Utilize the typical proposal outline below and include as many details as you can and request feedback on specifics that you have not worked out yet.

3. Discuss the proposal into the chanel until you have a consensus.

4. Submit your final proposal for DAO approval.

5. If the proposal passes when the voting period ends the DAO will further discuss implementation and execution of the proposal.

6. If market conditions have changed and the proposal is no longer possible to execute as outlined in the original proposal the DAO will discuss options and bring it to an official vote via Discord reacts as described in the guidelines above.

Petty Cash Allowance

The DAO will set a reserve of 1 ETH to be used as a petty cash allowance as approved per the Council. These will be small purchases and payments that do not require a formal proposal through the process above.

Typical Proposal Format

Below is an outline of the typical proposal format with explanations of each section. At the bottom of this document is the template format for you to copy and fill out.

Budget

• Budget: What is the most the DAO should spend on this proposal?

• Timeline: When should action be taken? Is there a time limit for when the action will no longer be valid?

  • If you are proposing the DAO should buy an NFT, keep in mind a proposal takes several days to settle and the market will likely see some movement in that timeframe.

  • If purchasing an NFT or investing in a token/providing liquidity, a timeline also needs to be outlined for exiting the position or selling the NFT. Do we want to hold this forever? Sell when it reaches X% increase? Sell before/after a catalyst (reveal/airdrop/etc)? Details need to be explicit.

Description/Motivation

• What is your reasoning for bringing this proposal to the DAO? A brief sentence is sufficient.

Details

• This should be broken up into two sections, pros and cons. All proposals should clearly explain the potential upsides and downsides/risks of any actions taken by the DAO so that all members are fully informed before they vote. Below are some questions to consider when writing these sections.

  • Pros

    • Why should the DAO spend ETH on this proposal?

      • What are the details of the project/team that make this worthwhile (roadmap, upcoming hyped releases/partnerships, etc)?

      • Near term upside (WL opps, attention from community, upcoming hyped releases/partnerships, etc)

      • Long term upside (blue chip potential, roadmap, dev team and tech, etc)

      • If proposing something to buy and flip, include target price to flip and/or time limit for holding

      • Is this a strong marketing opportunity?

      • Does this benefit DAO members? If so, how?

  • Cons

    • What percentage of the treasury would be at risk from executing this proposal?

      • Could this make the Wizards brand look bad?

      • What could go wrong?

      • What are potential unknowns that we may not have considered?