Announcing our next steps for Ease and $stNXM! We’ll soon begin work on Cross-Asset Yield Vaults.
These vaults are initially made for @nexusmutual staking and the first will allow $NXM and $wNXM holders to receive $stETH yield while $ETH holders will receive $stNXM yield. Next may be vaults matching $stNXM with $USDC holders, $stETH holders, or even memecoin holders.
This system decouples price exposure and yield exposure so you no longer need to give up yields to be invested in your favorite tokens. It can either switch yield streams between assets, or split a yield stream so that a non-productive asset can take on the yield risk while its paired asset gets risk-free yield.
And these tokens are only just the beginning of what the system can do.
https://t.co/1knj9BqD75
🏆 A month after launch, 15+ Covered Vaults are live across @Ethereum, @Optimism, @Base and @Gnosis.
The most battle-tested onchain protection @NexusMutual is now natively built into the vault experience: no upfront cost. No duration commitment. Premiums streamed from yield.
👇
This is a very difficult post to make but it’s come time to finalize the shutdown of Goat Trading. After over 3 years of tireless work on new products to make crypto trading safer and more beneficial, we’re not able to continue working on Goat.
🤝 We are partnering with @OriginProtocol to make low-risk ETH yield available to all.
Starting with the covered Origin stETH ARM vault → 4.71% APY, with all-in protection against smart contract and economic risks, including bad debt.
ETH yield with onchain-native protection👇
Nexus Mutual's detailed incident report about the KelpDAO/LayerZero incident is now live ✍️
Our risk experts dig into:
- How the attack unfolded
- How the damage spread
- The systemic vulnerability it highlighted
- The industry response
- Is this covered?
- How we're addressing the opsec gap
See the full report here: https://t.co/jrQ6t4BpVU
@0xriptide@NexusMutual Nexus is more advanced and cheaper than ever with new updates. The biggest users are institutions at the moment. Individuals in DeFi continue to be comfortable with the risk but that may change soon with the uptick in hacks versus a relatively quiet last couple years.
📣 Introducing: stNXM
A new primitive in the @NexusMutual ecosystem, built by @EaseDeFi.
stNXM is liquid staking for NXM, turning underwriting capital into a composable, yield-bearing asset. 👇
stNXM withdrawals will be unlocked once the submitted @NexusMutual claim has been paid out. It's a minimal one so won't make a noticeable impact but great to prove the system!
$50M in cover capacity per vault. No prepayment, no fixed terms, premiums streamed from yield
@OpenCover just launched Covered Vaults & we're proud to be the underwriting partner 🤝
Any vault operator or curator looking for embedded risk transfer, reach out to OpenCover today!
We've published a preliminary incident report on what happened at Resolv Protocol on Sunday. We dig into what happened, how the damage spread through DeFi, and what Nexus Mutual covers.
Details are still developing and we'll update as the picture becomes clearer. Link in comments.
Withdrawals have been temporarily paused on stNXM while we determine the effects of this loss--if any--on holders.
$stNXM is still able to be sold on Uniswap as normal but withdrawing directly from the vault is paused.
Deposits can continue to occur as normal.
We've published a preliminary incident report on what happened at Resolv Protocol on Sunday. We dig into what happened, how the damage spread through DeFi, and what Nexus Mutual covers.
Details are still developing and we'll update as the picture becomes clearer. Link in comments.
@EvgenyAlekseev8 They may have been removed from being tracked since it hasn't had much activity. We wanted to stop activity on the token while we were hibernating so once we restarted operations our valuation would be refreshed based on potential.
If you check a scanner they'll be there.
As we continue to work to get more deposits to stNXM, we're also planning next steps to create a DeFi suite surrounding the time.
A whitepaper is coming soon regarding that.