Weekly update - Monday 26th October 2020

  • We recently added DODO contract on which there has been enough staking to open up over 1000ETH of cover; available at a price of 30.2%.

  • We have another new project listed today - CoFix (docs) and (audit). Stake now to enable cover purchases.

  • Harvest - we’re waiting for the post-mortem on the recent Harvest incident and will report back to the community once we have full details.

  • We would like to list CREAM to Nexus Mutual but there is a potential correlation risk - we’ve added a signalling vote in the Discord for you to have your say on how to proceed.

  • Hugh is presenting at the MakerDAO Governance and Risk call on Thursday October 29, 2020 4:00 PM UTC to discuss bespoke protocol cover.

  • Stacked risk cover - call for potential products. Stacked Risk Cover will be a generalised way of covering virtually all risks in a protocol in a simple way using options. So we need to create a specific list of ideas. See this forum post for more info and to have your say.

  • After the signalling and governance votes last week the new pricing has been deployed.The minimum price is now at 2.6% (down from 5.2%).

  • There were some bugs on NFT coverage and the Nexus team developed an enhancement to rescue the covers at risk. We wrote about it here.

  • The second shield mining campaign is still running - you can check rewards here or you can see the KEEP balance in the shield mining contract on etherscan.

  • As usual, NXM rewards have been distributed this morning.

    Reasons rewards might seem low:

    • Little (or no) cover was purchased on the contracts you have staked on.

    • Many stakers have staked on that project and are sharing the rewards proportionally.

      You can check your rewards distribution if you are unsure:

    • Add up the premiums of all covers bought on contracts you staked on last week.

    • Check your proportion of the stake on that contract.

    • Take 50% of the total premiums and calculate how much you are due proportional to your stake.

    • For all stats, use www.nexustracker.io

  • High level update on development

    • :heavy_check_mark: [implemented] Proof-of-Loss
    • :test_tube:[testing] Enabling Investment Earnings
    • :hammer_and_wrench: [building] MCR smoothing and shifting on-chain
    • :hammer_and_wrench: [building]Stacked Risk Cover
    • :writing_hand: [designing] Demand based Pricing
    • :writing_hand: [designing] Staking 3.0
  • We’d like to remind members to be careful of impersonations on our Discord server and on Telegram - there have been a number of incidents of the team being impersonated over the last week. If in doubt you can check the #faq and #welcome channels in Discord for team members’ names and all team members are admins for the Telegram group. Team members will never DM first and never ask for money.


Love this, hope we can make these updates happen regularly!