Newsletter - 21st June 2021

Official News

  1. Three new protocols are available on Nexus Mutual. You can stake on them and if cover is available, purchase it to protect your investment.
  • Alchemix V1
  • Convex Finance V1
  • Barnbridge Smart Yield V1
  1. A community proposal has passed and been implemented! We have increased staking leverage to 20x, from 15x. Also, any protocols at a 1x capacity multiple have been increased to 2x, which opens up additional cover capacity. Going forward, any new protocol will be listed at a capacity multiple of 2x, ensuring double the cover capacity.

We hope this will drive additional cover sales growth and will keep Nexus Mutual atop this industry.

  1. Reminder: Yield token cover has been listed and is now open for staking. This includes yDAI v2, yUSDC v2, ycrvstETH, 3pool and sETH. Yield Token Cover protects members against their yield bearing tokens de-pegging.

If your yield-bearing token de-pegs in value by more than 10%, you may claim up to 90% of your loss by swapping your yield-bearing token for a claim payment.

  • De-peg happens for more than four continuous hours.

  • Claims go through group claims assessment process where a full-member governance vote is held to determine if de-peg is valid.

  • Members who had cover live at the time of the de-peg can swap their yDAI tokens at a 90% return rate for the same underlying covered currency (in this example, USD/DAI).

  • Swap ratio is determined by the value of the token right before the de-pegging.

  • Members can choose to swap some or all of their yDAI for a 90% return rate.

  • After claim payout, cover period ends

More info on the types of cover can be found here: Types of Cover - Nexus Mutual

Community Discussions

Updated Marketing Strategy

BraveNewDeFi posted objectives and key results that he and @Jer979 will be tracking. Any member interested in participating (with reward!) should read this post and fill out the attached form. This is a fantastic opportunity to help the Mutual to grow, and to be compensated in the process!

Community Corner

Greetings Mutants!

It’s been another banner few weeks at Nexus!

We’re proud to announce that our community will be a sponsor at @ETHGlobal’s #HackMoney2021 from June 18th to July 9th! This hackathon will give Nexus exposure to 1,000+ hackers and provide them the opportunity to build on our protocol for prizes and recognition. Our very own @shark0der presented on June 16th, let’s show our support! You can watch his presentation here: https://www.youtube.com/watch?v=S4p1ACbO6oc

Update on Grants

We are happy to announce that as of May 31st the following proposals carried and have been approved through Snapshot voting:

Official Nexus Mutual NFTs: Voting Results

Dedaub - Nexus Mutual Collaboration: Voting Results

Hats.Finance - Decentralized Cybersecurity Incentive Network: Voting Results

Nexus Mutual Sponsorship - ETHGlobal’s Hack Money Hackathon: Voting Results

Research on the Horizon

Very excited to report that our bounty for Research Analysis on Pancake V2, Pancake Bunny as well as Anchor have all been received and currently in review. We should have them available to the community very shortly! Please keep an eye out in Discord; when they are ready for viewing, we will post and let everyone know.

Reminder

As always, don’t forget the Fund is open for business and we’d love to hear from you if you have any ideas, potential projects and collaborations. The process is fairly simple and starts out with you filling in our application form here: Application for Nexus Mutual Community Fund grants

And should you have any questions, just schedule some time to chat with us here: Calendly - Kendrea Camacho

Thank you for taking a few minutes with me and remember, “there is no community without you; sure glad you are here!”

Kendrea

Other Updates

Marketing and Communications Hub

Our Marketing Hub is becoming more fully formed by the day. The key objectives and KPI’s are established, now it’s time to recruit talented mutants! If you’re interested in participating in a marketing drive, read the forum post and get in contact with BraveNewDeFi.

Our Community Engagement Hub (supported by the community fund) is looking for community members who want to get involved with upgrading our Discord, or who have other relevant skills to promote community engagement. If this sounds like you, get in contact with Kendrea on Discord!

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