Weekly update - Monday 26th October 2020

Nexus Mutual Updates Foundation
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  • 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.

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