Governance arrives: “House of Degens”

Nemesis PRO
2 min readJan 19, 2022

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Liberté, Egalité, Fraternité

No more ballot papers or polling stations!

Nemesis DAO moves to a Decentralised Voting System, where its participants will use decision tokens (sNMS and wsNMS) to cast their votes on the proposals made. More than voting, however, this system will be useful simply for making decisions in an environment where resources and authority are shared. It will also encourage community participation.

The Voting Power of the participants will be calculated according to the “sNMS” and “wrapped sNMS” held by the user during the snapshot taken on proposal offering. While each sNMS grants 1 Voting Power, a wrapped sNMS will grant Voting Power according to the Current Index. The decimals of the Current Index will always round up, making wsNMS the most precious voting asset in the House of Degens. For example: If a user holds 10 sNMS and 2 wsNMS at the time of this writing where Current Index is 6.59, then the Voting Power of the user is going to be 10 + (7x2) = 24. Simple and effective.

The first proposal that went through House of Degens on 31st December:
https://l24.im/cZOsIJL

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Nemesis PRO
Nemesis PRO

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