Proposal to offer cover either as a blanket cover or cover specific to a user selected chain, for a covered project
Rationale:
a) Not everyone needs a blanket cover as they may not use or deposit into the pools offered by the covered project on different chains, rather they may only make use of a pool on a specific blockchain
By offerring cover based on either user selected chain or as a blanket cover, this can enable users to opt for blanket protecion or chain specific protection. In the event the person only needs cover for a particular chain, then this can reduce the premium cost on such users as well as reduce the liability on Nexus mutual.
The Product & Risk Team will review this cover product idea during their meeting next week. Please note that the product development cycle typically takes longer than the product listing process, as it may require more research and the involvement of a broader team.
The Product & Risk Team will evaluate your idea and share any potential next steps.
We discussed this back and forth on Discord, but I wanted to follow up here on the forum as well.
All Protocol Cover listings provide protection for a protocol regardless of what EVM chain it’s deployed on. However, the code is largely the same in each deployment, and staking pool managers are staking against a protocol and setting pricing based on the risk associated with a protocol’s codebase.
Offering chain-specific listings wouldn’t reduce the risk staking pool managers are exposed to and wouldn’t impact pricing. It would just create a less capital-efficient listing process, since pool managers would have to stake NXM against one (1) protocol across multiple listings to open capacity for multiple chains.
If pricing is an issue for you, I’d recommend you use the “Request Capacity for a Listing” feature in the Nexus Mutual user interface (UI). If you click on this button in the UI, you can fill out a form that will be forwarded to pool managers. You can request a specific amount of capacity and request the pricing, or price range, you’d be willing to pay for cover. If a pool manager wants to open up capacity at that price, they’ll adjust their pricing and we can send you a notification once the pricing has come down to the range you requested.
