Ideas for selling more cover

There’s 2 big issues I see here:
People have some question about if NXM will actually pay out. The claims policy is complex, the definition of smart contract failure is somewhat narrow, and it doesn’t feel like you’re really “safe” per say. There also hasn’t really been any major hacks under platforms covered by nexus so there isn’t a lot of precedent to look at. If you go to the claims page, you see a list of everyone who ever submitted a claim and almost always denied. It looks bad. A high publicity hack and a bunch of successful claims/you saved me stories is honestly the best thing that could happen to NXM right now.

I think the other issue is that a LOT of people don’t want to KYC. It seems the guys over at are trying to setup some sort of an anon agency. Taking the time to vet a project like that enough that Nexus can list them as an approved broker of coverage to those wishing not to KYC with a little marketing could lead to a wave of new cover.

I think we also need some new products where we can charge a bit more for cover and get people excited.

Maybe it wouldn’t hurt to offer at least a little bit of cove for more degen protocols at a higher price that makes sense with their returns. We can make some money, and if we don’t sell too much cover, one would think we’d end up with a small but significant number of claims that we could use to show our claims process works and actually happens.

Or even start an active-farmer pool with a higher cover price that allowed someone to use the group of higher risk protocols and move between them, again limiting max cover amounts to something like 1-5k ETH at first.

What about a cover across all the protocols nexus covers for 15-20% again limited.
Would also be interesting to try setting up baskets like (Uni/sushi/curve) or (badger/ren/crv) that match up with highly liked activities (LPing) or high AUM vaults (like badger crv:ren). I’d think those could be offered at far less than the price of cumulative cover, although not sure how to work out the risk assessment math.

We need to be creative and come up with some “products” that we can get DeFi users excited about. There’s lots of new people coming into DeFi again they’re scared. We just have to figure out how to make it easy for them and get them engaged.

What about setting a page(or finding a youtuber) with NXM Recommended DeFi moves where you feature projects each month that NXM covers and talk about how you can make SAFU money with them.


An idea I’ve been thinking about recently is whether there’s opportunities to offer re-insurance and reading your post one obvious route could also be to offer re-insurance to the anon agencies like that could offer non-KYC insurance to end-users but are themselves willing and able to do KYC, and can buy larger covers as their own coverage amounts grow. That would also be a way for us to capture a piece of the market that wishes to have coverage on an anonymous basis, but still maintain KYC on the actual customers of Nexus.