XIP stands for NFTX Improvement Proposal, it has been adapted from the SIP (Synthetix Improvement Proposal), YIP (Yearn Improvement Proposal) and IIP (Index Improvement Proposal). The purpose of this process is to ensure changes to NFTX are transparent and precise. An XIP is a design document providing information to the NFTX community about a proposed change to the system. The author is responsible for building consensus within the community and documenting dissenting opinions.