Newsletter - 17th December 2021

Week in Review: Cover Sales (6 Dec. to 12 Dec.)

New Listings and Risk Assessment Opportunities

In the last week, Nexus Mutual has listed Ribbon Finance V2, PoolTogether V4, and Trader Joe. We’re looking for additional stakers on these protocols to open up more capacity for customers.

Ribbon Finance V2

Ribbon Finance is a protocol that helps users access crypto structured products for DeFi. It combines options, futures, and fixed income to improve a portfolio’s risk-return profile.

Protocol Spotlight: Ribbon Finance V2: Protocol Spotlight | by BraveNewDeFi | Dec, 2021 | Medium

Website: https://www.ribbon.finance/
dApp: https://app.ribbon.finance/
Docs: https://docs.ribbon.finance/
Audits: https://docs.ribbon.finance/developers/security#audits
Bug bounty programme information: https://immunefi.com/bounty/ribbon/
GitHub: https://github.com/ribbon-finance

PoolTogether V4

PoolTogether is a decentralized and open source blockchain based prize savings account. PoolTogether V4 is unique as it enables a Prize Pool Network. A Prize Pool Network allows users across chains, with different assets, or different yield sources to combine their interest and share a single pool of prize liquidity.

Protocol Spotlight: https://medium.com/nexus-mutual/pooltogether-v4-protocol-spotlight-f198e1899752

Website: https://pooltogether.com/
dApp: https://v4.pooltogether.com/deposit
Docs: https://v4.docs.pooltogether.com/
Audits: https://code4rena.com/reports/2021-10-pooltogether
Bug bounty programme information: https://immunefi.com/bounty/pooltogether/
GitHub: https://github.com/pooltogether/v4-core

Trader Joe

Trader Joe is a decentralized trading platform on the Avalanche network that combines DEX services with DeFi lending to offer leveraged trading. Users can trade, provide liquidity, stake LP tokens to farm $JOE, and lend and borrow crypto.

Protocol Spotlight: https://medium.com/@BraveNewDeFi/trader-joe-protocol-spotlight-d041e17e9c71

Website: https://traderjoexyz.com/#/home
dApp: https://traderjoexyz.com/#/trade
Docs: https://docs.traderjoexyz.com/main/welcome/master
Audits: https://docs.traderjoexyz.com/main/audits/lending
Bug bounty programme information: https://immunefi.com/bounty/traderjoe/
GitHub: https://github.com/traderjoe-xyz

Information on Risk Assessment:

https://nexusmutual.gitbook.io/docs/risk-assessment/risk-assessment

Risk Assessment Resources:

https://nexusmutual.gitbook.io/docs/risk-assessment/risk-assessment-resources

Staking

Review these protocols, stake NXM if you believe these protocols are trustworthy and have bug-free code. Risk Assessors earn a proportional share of 50% of the cover premiums when members buy Protocol Cover for each respective protocol they stake against.

Are we missing a listing?

If there’s a protocol that you’d like to buy cover for, please let us know! We’re always excited to list new protocols, but ensuring that we have sufficient cover demand is critical prior to listing. So, if you have a protocol in mind that you want us to list, please reach out! :slight_smile:

Nexus V2: Syndicates

A new introduction for Nexus v2 will be syndicates. These serve as delegated staking pools, where members can allocate NXM for syndicate operators can decide which risks to stake against and how much NXM to allocate across protocols, custodians, and yield token cover products.

Operators also create markets for risk by deciding the minimum price that they will accept for each risk NXM is allocated. Members who don’t want to manage their staked NXM directly can delegate their NXM to a syndicate. The individuals and organizations best suited to serve as syndicate operators will have smart contract security expertise and can manage staked NXM across a variety of risks.

In addition to staking decisions syndicate operators can also offer cover directly to users, and will even be able to direct users to buy cover from specific syndicates. DeFi protocols could serve as syndicate operators, which would allow a protocol to offer cover to their users directly through their syndicate.

Syndicate operators can also add an additional fee on top of the cover premium to monetize cover sales. With this infrastructure, it becomes mutually beneficial for protocols and security experts to build on top of Nexus to create dynamic risk markets.

This creates new possibilities within Nexus, as syndicates can offer new cover products to new distribution channels. A syndicate can list their own products, offer cover to users, and use the mutual as a reinsurance layer. With the advent of syndicates, a variety of different businesses cab be built on top of the mutual.

If you are an individual or an organization interested in forming a syndicate, jump in the Nexus Discord and send a message in the #Staking channel.

Protected Yield: Alpha Homora V2 on Avalanche

@BraveNewDeFi highlighted some high yield opportunities available using Alpha Homora’s Pangolin markets on Avalanche. Keep an eye out for these Protected Yield Opportunities on Twitter and in the Nexus Discord.

https://twitter.com/BraveDeFi/status/1471167399701487624

Nexus Mutual: Holiday Break

The team will be taking some time to rest over the break after a busy year, so there will be limited team presence between Christmas and New Year—urgent issues will be dealt with and everything else will be responded to in the new year.

There will be no Mutant Meetup calls held on Tuesday (28 Dec) and Tuesday (4 Jan). We’ll resume our Mutant Meetup calls on Tuesday (11 Jan).

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