[RFC]: [Grant Proposal] - Nexus Mutual Protocol Alerts

Hi everyone!


This proposal aims to develop Nexus Mutual Protocol Analytics, a comprehensive system that provides real-time analytics, reporting, and insights for the Nexus Mutual community. By delivering key metrics, market trends, coverage analysis, governance updates, and other important information, this solution aims to empower Nexus Mutual users and foster active participation within the community.

Background and Context:

Nexus Mutual is a thriving decentralized protocol. As the Nexus Mutual ecosystem continues to grow, there is a need for reliable and accessible analytics and reporting tools. This proposal seeks to address this need by providing users with valuable data and insights that will improve coverage strategies and encourage deeper engagement within the Nexus Mutual community.

While the current statistics provide valuable information for Nexus Mutual users within the platform, our system offers a unique approach to engage and market to users outside of the Nexus Mutual community. By providing the statistics directly on various platforms, we can reach a wider audience and potentially attract new users who may not be familiar with Nexus Mutual. This differentiates our solution from the data displayed on dashboards, as it focuses on expanding the user base and increasing engagement beyond the existing community.

Proposal Details:

The Nexus Mutual Protocol Analytics system will be developed using Python for backend development and Vue JS/Typescript for frontend implementation. The system will leverage smart contract data, coverage information, transaction history, and other relevant metrics to generate meaningful reports and visualizations.

Key features of the proposed system include:

  • Real-time Market Analysis: Providing users with up-to-date information on coverage utilization, claims activity, token prices, and other market indicators.
  • Governance Insights: Offering detailed analytics on governance proposals, voting participation, and decision outcomes to promote transparency and community involvement.
  • Coverage Analysis: Providing comprehensive coverage analysis, including risk assessment, claims history, and comparative analysis with other decentralized protocols.

Supporting Media:

You can see what a simplified version of the system looks like on this link (https://twitter.com/VelodromeAlerts).

Timeline and Milestones:

  • Week 1: Gather requirements, finalize technical specifications, and set up the development environment.
  • Week 2: Implement data collection and processing components, integrate with Nexus Mutual smart contracts, and develop the analytics and reporting functionalities.
  • Week 3: Build the interface, incorporate visualizations, conduct rigorous testing, and address any bugs or issues.
  • Week 4: Deploy the Nexus Mutual Protocol Analytics system, monitor its performance, gather user feedback, and make necessary optimizations.

We are happy to provide a beta version on various platforms for the community and contributors to test before deploying the finalized version with the requested changes.

Cost and Resource Estimates:

To bring the Nexus Mutual Protocol Analytics system to fruition, we request a grant of 6000 USDT (equivalent in $NXM). This budget will cover developer compensation, server and hosting costs, as well as ongoing maintenance and support.


The Nexus Mutual Protocol Analytics system will provide a valuable resource for Nexus Mutual users, offering real-time analytics, reporting, and insights. By supporting transparency and promoting community engagement, this proposal aims to contribute to the growth and success of the Nexus Mutual ecosystem.

Have a nice day!

Hey @nexusmutualdata,

Thank you for your proposal! Analytics are important, but it would be great to hear what specific analytics you’d propose tracking that the mutual isn’t already tracking via the DAO-created Dune Dashboards or ones that can’t be easily called with the Nexus Mutual bot in Discord.

The R&D team is working to create a Staking dashboard, as well, which will go live on Dune in the coming months and will include detailed analytics on the various staking pools built on top of Nexus Mutual.

Note: I changed your proposal to an RFC, per our governance guidelines, so members like myself can give you feedback and comment on your proposal before a formal NMDP and a Snapshot vote.

Detailed on analytics, impact in your proposal

There may be overlap between what you’re proposing and what the R&D team has already built or in the process of building, which is why I’d like to hear more detail about what analytics you’re proposing to track; what impact the analytics will provide for mutual members; what platform you would propose using to host the analytics (and why it would be advantageous over Dune); and how members can track the impact over time.

For example:

  • Each staking pool uses their own individual risk assessment methodology, which isn’t readily available directly on-chain. How would you compare risk assessment across other decentralized coverage protocols?
  • Claims history is readily available on-chain and in the mutual’s documentation, and people can see a high-level overview and comparison across DeFi coverage protocols on OpenCover. Can you share more information on how you would deliver on this proposed feature?

I’m always open to people contributing to the DAO and delivering value to members, but it would be beneficial for everyone if you could share more details on what you’d track outside of what is already tracked and how you’d deliver on those proposed features.


Hello @BraveNewDeFi, thank you for your feedback and for converting the proposal to an RFC. We appreciate the opportunity to address the potential overlap with the existing analytics infrastructure.

While we understand that the Nexus Mutual DAO is building to track analytics, our proposal for Nexus Mutual Analytics is to offer a different approach and provide additional insights to benefit mutual members. We plan to track a set of analytics that go beyond what is currently available through the DAO-created Dune Dashboards. Our focus is to identify and track key metrics, market trends, and other relevant data points that can provide a deeper understanding of the Nexus Mutual ecosystem and its impact. Our proposal mostly aims to differentiate itself by having its own engagement strategy.

Our goal is not only to provide analytics and reporting for the existing Nexus Mutual community but mostly to attract new users to the protocol. We believe in the importance of reaching a wider audience and introducing them to the benefits of the protocol. By being on Twitter, we believe it will be easier to reach out to the DeFi community rather than a website. We will collaborate with the community to determine which data should be sourced and prioritize the most relevant information that can effectively engage and onboard new users.

To track the impact over time, we will establish regular reporting and update cycles, allowing mutual members to monitor the progress and effectiveness of the analytics. We will also encourage community engagement and feedback to ensure the analytics system continues to meet the needs and expectations of the Nexus Mutual community.

Detailed on analytics

  • Each staking pool employs its own risk assessment methodology, which may not be directly available on-chain, which is why our product will bridge this gap by leveraging various data sources. By analyzing on-chain data, claims history, and external information, we want to gather data in a first base (not the bot that you will see on Twitter - and we can also make that first set up data, which will be raw analytics, available to the community) and then get our final bot on Twitter to display any information that triggers the “major event alert”, it can be a proposal on the governance forum that has a lot of activities, a major transaction, a new reward alert… By working that way, we can make sure that the Twitter bot is fast and efficient while we are working on a database that contains all the sources needed.

  • Our vision for this product has strong focus on user engagement and onboarding, setting it apart from generic solutions like OpenCover. While platforms like OpenCover provide detailed comparisons, our strategy takes a different approach. Our bot will be specifically made for Nexus Mutual, by delivering real-time alerts and notifications in user-friendly way, we inform users quickly and have the opportunity to go beyond the current Nexus Mutual community.

  • By having a presence on Twitter, our bot acts as an interactive tool for users to explore Nexus Mutual. This approach will help us to capture the attention of users who may not yet be familiar with Nexus Mutual and guide them towards discovering its value proposition. Our engagement-driven strategy not only facilitates the onboarding of new users but also fosters a sense of community and ultimately driving the growth and adoption of Nexus Mutual.

Sorry if that was a bit long, we wanted to make it as detailled as possible, like you requested. I appreciate your feedback and the opportunity to explain our vision further!

I think I’m still missing a complete picture of what you’re looking to track and how it adds value for members.

  • Key metrics: what metrics would you propose tracking that aren’t already included in the existing Dune dashboards? How would this deliver value to members?
  • Market trends: what trends would provide valuable insight for members?
  • Other relevant data points: can you provide some examples?

How would these metrics attract new members/participants?

And as this would be a Twitter bot that creates automatic alerts, how would this translate into membership growth? The previous example of the Velodrome bot below wouldn’t be something that I support, as it’s limited in nature and seems skewed to the performance of the token vs. the performance of the mutual.

It would be great to hear some specifics, what we’re specifically lacking that could contribute to growth, and how this would deliver value to existing members.