Roxana Danila 🐢 Nexus Mutual

CTO @NexusMutual. Alum @join_ef, @facebook, @BankOfAmerica, @imperialcollege

[fricoben @Fricoben]

We spent the last few weeks formally verifying smart contract invariants across Ethereum protocols using AI and Lean.

Here's the methodology and what we learned 🧵

[Nexus Mutual @NexusMutual]

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.

[Nexus Mutual @NexusMutual]

Can you join us in Cannes?

We're looking forward to hosting an evening of institutional DeFi networking with @OpenCover and @blockaid_!

If that sounds like a good fit for you, sign up here: https://t.co/OnhWkiUf7Q

[Hugh Karp 🐢 @HughKarp]

Love to see it. A publicly listed company staking NXM to earn yield by backing onchain risks.

[Nexus Mutual @NexusMutual]

https://t.co/Jg1WyKI0hV

[Nexus Mutual @NexusMutual]

Having the proper tools to manage onchain risk is key to making DeFi ready for institutional investors

Thank you to @Dingo_Saffron for putting together this great op-ed 🤝

We're proud of our claims history and encourage you to check it out for yourself!

[Nexus Mutual @NexusMutual]

https://t.co/dJJeHZq86Z

[Hugh Karp 🐢 @HughKarp]

Great to see insurance coming to the forefront. DeFi needs back stop solutions for mass market adoption.

@NexusMutual has been working on this problem since 2019. $billions protected.

Reach out if you're building something.

[Nexus Mutual @NexusMutual]

This integration is a major win for everyone involved

Awesome to see @OpenCover making DeFi a safer place for investors and protocols 🤝

If you're looking for way to get more active with your crypto, this is a great option to check out!

[Nexus Mutual @NexusMutual]

Calling all Londoners!

Our team will be at @Zebu_live where you can catch @Rei_Melb speaking about risk in Web3 👊

Hope to see you there or at our evening reception!

Sign up here: https://t.co/g3BnD65VNN

[Nexus Mutual @NexusMutual]

For over six years, Nexus Mutual has been on a mission to help people protect their crypto

We could not have hit this milestone without the support of our community and partners - thank you 🙌

Let's take a look at how Nexus Mutual got to where it is today...

[Nat Friedman @natfriedman]

I'm hiring full time engineers and geometry processing and computer vision researchers to help us read hundreds of ancient scrolls buried by the eruption of Mount Vesuvius 2000 years ago.

We are scanning 100 scrolls this year (20x more than have been scanned in the last 25 years) and are closer than ever to automating the full unwrapping and ink detection pipeline.

Please apply by emailing [email protected]

[Roxana Danila 🐢 Nexus Mutual @roxdanila]

🤯

[SpaceX @SpaceX]

Mechazilla has caught the Super Heavy booster!

[Nexus Mutual @NexusMutual]

🐢 This Week in DeFi 🐢

Total Value Locked (TVL) across DeFi stayed stable at around $84.8B with liquid staking, restaking, and lending commanding much of the TVL

[Nexus Mutual @NexusMutual]

Big news for DeFi investors, VCs & institutions…

Introducing Fund Portfolio Cover, a new way for DeFi investors to protect against onchain risk!

Let’s dig in…

[Roxana Danila 🐢 Nexus Mutual @roxdanila]

@0xngmi @BraveDeFi @NexusMutual no event out of the box.

example tx: https://t.co/1M2a2xyexi. can either track maxPremiunInAsset input param or the DAI/USDC/ETH transfers from the cover buyer to the pool.

examples of Dune dashboard tracking cover fees:
- https://t.co/oIUELN0LrZ
- https://t.co/4kRZQ53NV6

[BraveNewDeFi @BraveDeFi]

TIL @NexusMutual is generating more in monthly earnings than major DeFi lending protocols with billions in TVL 👀

🐢 $207.01 in TVL for $1 in revenue on average over the last 3 months

[Hugh Karp 🐢 @HughKarp]

@NexusMutual has now been live on Ethereum main-net for 5 years 🎂

$18m in claims paid, from the likes of FTX, Rari, BlockFi, Cream and many other hacks.

Grown to over $300m of ETH in the capital pool.

Many version upgrades with Syndicate based staking and RAMM tokenomics being big ones.

Loss ratio of 71%, demonstrating smart contract and crypto risk can be priced well and fairly.

and we really are just getting started.

[Nexus Mutual @NexusMutual]

We're back over $100m in active cover!

Since the beginning of the year, the active cover amount has increased by 3x 📈

We're well on our way to a 10x in cover sales by the end of 2024 💪

See the Covers @DuneAnalytics dashboard for more info: https://t.co/pqWMrk4JYl

[Roxana Danila 🐢 Nexus Mutual @roxdanila]

It's indistinguishable from magic! 💫 Virtual TestNets totally took our development experience to the next level 🔝

[Tenderly @TenderlyApp]

Did you know that you can fork an EVM chain in seconds? 🤔

Use Virtual TestNets to create chain replicas synced with the mainnet state. 🌐

Then, configure your development envs to fit your unique workflows and start building on top of live data.

Get started with ease ▶️