|All Time High:|
|Market Cap: |
|The price of #NXM is not available right now.|
|The code for Nexus Mutual crypto currency is #NXM. |
Nexus Mutual is 1.6 years old.
|The current market capitalization for Nexus Mutual is not available at this time.|
Nexus Mutual is ranking downwards to #8979 out of all coins, by market cap (and other factors).
|The trading volume is unknown today for #NXM.|
|The circulating supply of NXM is 6,654,225 coins, which is 100% of the total coin supply.|
Note the limited supply of Nexus Mutual coins which adds to rarity of this cryptocurrency and increases perceived market value.
Euler Finance: Protocol Cover Now Available on Nexus Mutual
Whether you’re depositing four figures or eight into Euler’s permissionless lending markets, you now have access to comprehensive protection with Protocol Cover from Nexus Mutual. Euler Finance has partnered with Nexus to offer their users cover. Now anyone can deposit into Euler’s permissionless lending protocol and enjoy peace of mind. Protocol Cover protects against the leading smart contract and technical risks in DeFi. When you purchase Protocol Cover for Euler Finance, you’re protected against: Code being used in an unintended way (e.g., exploits, hacks), Economic design failure (e.g., a failure in the protocol’s design that results in bad debt), Severe oracle failure, oracle price manipulation, Governance attacks, To date, members of the mutual have paid more than $8m in claims to people who suffered a loss due to past exploits. Nexus Mutual’s claim process is battle tested and has protected members against six separate loss events since 2019. Euler Finance is democratising access to lending and borrowing within DeFi through their permissionless markets. The protocol is designed to provide users with greater capital efficiency, so you can make the most of your lending and borrowing experience. You can use Euler to lend and borrow a wide variety of tokens, and if you are an experienced DeFi user, you can take advantage of the advanced features like feeless flashloans and the ability to short and long ass...
How Celsius Custody Cover holders can prepare for claims filing
On 13 June 2022 at 2:10am UTC, Celsius announced that they were halting all withdrawals, swaps, and transfers between accounts effective immediately. Celsius released a statement, which outlined the reasons for their decision to halt withdrawals:Due to extreme market conditions, today we are announcing that Celsius is pausing all withdrawals, Swap, and transfers between accounts. We are taking this action today to put Celsius in a better position to honor, over time, its withdrawal obligations. If you held an active Celsius Custody Cover on 13 June 2022 at 2:10am UTC, you’ll be able to file a claim starting on 12 September 2022 at 2:10am UTC. Below is information about Custody Cover, the claims filing process, custodial proof of loss, and claims assessment. — Custody Cover - Custody Cover protects against a loss of funds for crypto assets that are held in a custodial account. Once Celsius announced that they were halting withdrawals, the 90-day provision in Section 1.2 took effect — members who held active cover when withdrawals were first halted have to wait for 90 days to pass before claims can be filed.Section 1.2 in Nexus Mutual’s Custody Cover wording v1.0 You can read the full Custody Cover wording or review the Custody Cover section in the Nexus Mutual documentation. — Claims Filing - On 12 September 2022 at 2:10am UTC, the 90-day period will have passed and you can start the claims process. You...
Nexus Mutual Utilizes Chainlink Proof of Reserve To Verify Deposits on Maple Finance, Integrates…
Nexus Mutual Utilizes Chainlink Proof of Reserve To Verify Deposits on Maple Finance, Integrates With Enzyme - Nexus Mutual is using Chainlink Proof of Reserve to verify the amount of lending pool tokens in our Enzyme vault, enabling us to automatically track and report the value of our assets on Maple Finance. We’re excited to announce that Nexus Mutual, the people-powered insurance alternative, has utilized Chainlink Proof of Reserve in the Enzyme integration required for our recent investment allocation on Ethereum mainnet. Chainlink Proof of Reserve enables the reliable and timely monitoring of off-chain or cross-chain reserves using automated verification based on cryptographic truth. The mutual is using Chainlink Proof of Reserve to track, verify, and report the price per share of interest-bearing tokens held in our Enzyme vault, which represent our deposit in lending protocol Maple Finance. Without Chainlink Proof of Reserve, our recent investment of 15,348 ETH into the Maven 11 lending pool on Maple Finance would not have been possible. — Accessing Yield Through Maple Finance via Enzyme. — Nexus Mutual is a member-driven community where anyone can join and share risk with others. Instead of relying on a centralized insurance company, users and projects can protect themselves against smart contract and technical risks, custodial risk, and validator slashing risk. Our members own the capital pool, which...
Announcing ETH2 Staking Cover: Comprehensive Protection Against Slashing
We are happy to announce the launch of ETH2 Staking Cover, the most comprehensive protection against missed rewards and penalties incurred by validators.High-level overview of ETH2 Staking Cover protections. See full cover wording for more information. Since the Beacon Chain was deployed in December 2020, more than 13m ETH ($20B+) has been staked to power over 400,000 validators that secure the Ethereum network ahead of the merge. These validators work to achieve consensus and earn ETH in the process. As the leading provider of crypto-native coverage, Nexus Mutual has seen significant demand from validator operators to develop coverage that protects against ETH2 staking risks. We worked with existing operators to create ETH2 Staking Cover, which has been tailored to provide the greatest hedge against penalties, slashing events, and missed rewards. StakeWise, a leading validator operator and liquid-staking service provider, recently purchased ETH2 Staking Cover from Nexus Mutual to protect all their validators against slashing risk. They highlighted the importance of protection in their announcement:All capital deposited and earned via StakeWise Pool is now protected against slashing and associated losses, making our protocol considerably safer to use and ensuring that the 1:1 backing of StakeWise tokens with ETH is maintained. Nexus Mutual offers the most exhaustive ETH2 Staking Cover available, both on and off-chain, and is...
Nexus Mutual — from earthquakes to the on-chain risk marketplace
Nexus Mutual — from earthquakes to the on-chain risk marketplace - Nexus Mutual started with an idea inspired by the impact of earthquakes in South America, where access to insurance for catastrophic risk is all but nonexistent for the average person. After witnessing the devastation caused by earthquakes in Peru, Hugh Karp wanted to find a way to bring insurance back to its roots–a cooperative, community-driven approach that allows anyone to share risk with anyone else. In the first film of Chainlink’s Block Stories series, Hugh shared his story as an early founder who had a vision to work with others and reinvent the way we share risk on the blockchain. medium.com Off-chain data feeds for on-chain risk sharing Nexus Mutual uses high-quality, tamper-proof market data from Chainlink Price Feeds to help secure its multi-currency capital pool. On-chain access to globally precise market data helps the protocol maintain its minimum capital requirement (MCR) and accurately calculate quotes for new insurance coverage. Chainlink’s decentralized oracle network has been a crucial component within the mutual’s infrastructure, which will only become more integral as the mutual expands into new markets and covers other kinds of risk. Allowing members to share risk–from launch to today Since the launch of Nexus in May 2019, more than 8,700 people have joined the mutual to share risk with their fellow members, underwrite...
Bancor V3: Protocol Cover Now Available on Nexus Mutual
Nexus Mutual and Bancor have partnered to offer Bancorians Protocol Cover for Bancor V3–comprehensive protection against smart contract and technical failure. Protocol Cover is the perfect counterpart to the impermanent loss protection you receive when you deposit in Bancor. With the dawn of Bancor V3 comes new opportunities for earning yield on your idle tokens. Deposit your favorite tokens single-sided and enjoy 100% impermanent loss protection from the moment you stake. Yesterday, Bancor announced that the remaining pools have been whitelisted, which means another 100+ tokens can now be deposited in V3. You can refer to the Bancor staking guide for more details. Nexus Mutual was created to give people a way to hedge against the unique risks in on-chain markets. The Bancor DAO has worked with the Nexus Mutual community since 2020 to ensure Bancorians can protect their singled-sided stakes. To date, members have underwritten coverage for Bancor and protected 53,080 ETH and 12,242,136 DAI worth of productive crypto assets staked in Bancor. While many retail users are drawn to Bancor for the impermanent loss protection, there’s also strong institutional demand for single-sided staking, as it includes protection against impermanent loss. In April 2021, a Bancor user purchased a Protocol Cover policy to protect 12,500 ETH, which ranks 12th on the leaderboard for largest cover buys to date. — @NexusMut...
Immunefi Matching Bug Bounty Program: Renewal and Expansion
Nexus Mutants recently approved the renewal and expansion of the Immunefi matching bug bounty program by a unanimous vote. Funding for the matching bug bounty program has been increased from $200,000 to $600,000, and these funds will be used to provide greater incentives for whitehat hackers to review code and disclose critical vulnerabilities for protocols listed in the Nexus Mutual dApp. Nexus Mutual is on a mission to protect a greater percentage of DeFi users against the major risks present in on-chain markets. Our community began working with Immunefi in 2021 to create the matching bug bounty program, which started on a trial basis with $200,000 in funding for nine protocols whitelisted for the program. In March 2022, Nexus Mutual paid the first matching bug bounty in the amount of $200,000 to a whitehat hacker who disclosed a critical vulnerability in Yearn Finance’s USDT strategy. The whitehat hacker received a total of $400,000 for disclosing this vulnerability before it could be exploited. After the demonstrated success of this program, members voted to renew and expand the matching program with Immunefi. To be eligible for the program, projects must meet the following requirements and terms: Projects with an active bug bounty program on Immunefi, Matching for bug bounties with a critical threat level rating, Nexus Mutual will provide $1 in matching funds for every $2 offered for critical vulnerability disclosu...
Nexus Mutual Executes Largest DAO Treasury Deposit on Bancor
Nexus Mutual deposited 50,000 wNXM from the Community Fund into Bancor on 16 March 2022. On Wednesday (16 March), Nexus Mutual deposited 50,000 wNXM from the Community Fund into Bancor’s single-sided staking pool, where wNXM is paired with BNT and receives protection against impermanent loss (IL). Over time, Bancor will gradually increase space in the pool; members have approved the Community Fund to deposit up to 70,000 wNXM in total, so an additional 20,000 wNXM can be deposited in the future when space becomes available in the pool. This is the first allocation of assets from the DAO treasury (a.k.a., the Community Fund) into a productive yield source. The funds in the DAO treasury are used to fund Nexus Hub operations, as well as community-driven grants and initiatives. The mutual has now increased the depth of wNXM liquidity on chain and added a source of non-operating revenue to the treasury, which will be generated from trading fees on Bancor over time. This is another big step forward for the Nexus Mutual DAO! Nexus Mutual Executes Largest DAO Treasury Deposit on Bancor was originally published in Nexus Mutual on Medium, where people are continuing the conversation by highlighting and responding to this story.
PoolTogether V4: Protocol Spotlight
Nexus Mutual recently listed PoolTogether V4, which means members can now purchase Protocol Cover to protect their assets when they use PoolTogether V4 as a gamified way to save in DeFi. PoolTogether V4 pools users’ deposits to earn yield using underlying yield sources, such as Aave V2, to earn interest. This interest is used to generate prizes depositors are eligible to win. Depositors can always withdraw their entire deposit(i.e., their principal). As long as a user has a deposit in PoolTogether, they have the chance to win prizes during every drawing. How PoolTogether V4 Works With PoolTogether V4, the protocol has taken a multi-chain approach to their prize pool design. The protocol uses a Prize Pool Network, which allows users across chains with different assets or different yield sources to combine their interest into a single prize pool. With PoolTogether V4, there are three main processes: Interest is generated and captured by the prize pools on the network;, Prize distributions are determined across the network. This process determines how the interest will be distributed based on who wins a prize on each chain;, Once the distribution has been determined, prize liquidity is ensured across the different chains. This enables users to claim prizes on the chain where they have deposited funds in PoolTogether V4., PoolTogether V4: Multi-Chain Deployments The protocol is currently deployed on Polygon and Ethereum. ...
Notional Finance V2: Listed Protocol Spotlight
Notional Finance V2 users can purchase Protocol Cover from Nexus Mutual to protect their deposits. Nexus Mutual recently listed Notional Finance V2, which means members can now purchase Protocol Cover to protect their assets when they lend crypto or deposit crypto as collateral for a loan. Notional Finance V2 provides access to fixed-rate financing in DeFi, which benefits both borrowers and lenders. Borrowers are able to lock in a fixed interest rate loan that is payable at a specified future time. While the majority of over-collateralised borrowing in DeFi is subject to variable interest rate loans, Notional provides fixed rate products to DAOs, institutions, and individuals who want to plan for future obligations with fixed-term, fixed-rate loans. Lenders can deposit DAI, ETH, USDC, WBTC, or any cToken equivalents to provide liquidity for up to one year while earning a fixed interest rate on their crypto. Users can also provide liquidity within Notional Finance V2 to earn variable rate yield plus NOTE incentive yield. When you provide liquidity, you’re providing liquidity to the protocol’s built-in AMM-enabled liquidity pools, which allows users to trade fCash and cTokens when lending or borrowing. Notional Finance V2 is an important part of the new financial stack in DeFi, so let’s dig into the fundamentals behind Notional V2 to see how it works. I’ll start first with references on how to borrow, lend, and provid...
More Nexus Mutual (#NXM) News
|Bancor Version 3 Launched on Mainnet
Prominent decentralized finance protocol, Bancor has announced the launch of its v3, dubbed Bancor 3. The release on the mainnet comes six months after the project first shared the details of features.
Bancor 3 Goes Live
According to the official blog post, Bancor's latest version is focused on encouraging broad and sustainable involvement in on-chain liquidity markets by simplifying passive liquidity provision in automated market-maker (AMM) liquidity pools.
Following the development, Mark Richardson, Product Architect at Bancor, said in a statement,
'Bancor has spent the past several years creating the equivalent of a high-yield savings account for DeFi: Deposit your assets, sit back, and earn. By helping token projects and their users safely and simply tap into DeFi yields, Bancor 3 creates robust and resilient on-chain liquidity markets that drive healthy token economies.'
Bancor first revealed details about version 3 in November last year. The three-tiered launch includes - Dawn - the beginning of Bancor 3. This phase aims to address friction points in the previous protocol version. It will also set the stage for the subsequent steps - Sunrise and Daylight.
Improvements and Features
Bancor highlighted that strategies employed by token projects to create long-term liquidity have so far been ineffective. As a result of risks associated with negative returns from Impermanent Loss, many token holders are unwilling to offer their assets to liquidity pools, the blog argued.