Nexus Mutual Newsletter | 14 September 2022
This newsletter is brought to you by the Nexus Communications team. Stay up-to-date on the latest news and updates from the Nexus Mutual community.
Week in Summary
The mutual’s total active cover stands at $200,920,561 | 117,073 ETH. Members who held an active cover at the time of Celsius’ withdrawal announcement are now able to file claims! Contact BraveNewDeFi and Rei from the Nexus Mutual team to meet up during Berlin Blockchain Week.
Highlights
Celsius Custody Cover—file your claims
It has now been more than 90 days since Celsius announced that withdrawals were halted.
If you held an active Celsius Custody Cover when the custodian first announced withdrawals would be halted, you're now able to file your claim.
You can refer to the following Google Doc for information about active Celsius Custody Covers as of 13 June 2022 at 2:10am UTC.
See the information in the ⚖claims-discussions channel on Discord for more information.
👉 We created a guide for the Celsius claim event next week, so you can prepare—whether you hold cover and are planning on filing a claim or if you’re planning to participate as a Claims Assessor.
👉 You can review the mutual’s claims history in the Nexus Mutual documentation to learn about how previous claim events were handled by members.
👉 If you haven’t already, you may review the claims assessment section in the documentation to learn more about claims filing.
Nexus Mutual on Chainlink Today
Members have recently approved a proposal to allocate a portion of ETH in the capital pool to Maven 11’s wETH lending pool on Maple Finance.
As part of this investment, the Mutual utilized Chainlink Proof of Reserve to verify the amount of lending pool tokens in the Enzyme vault. This will enable us to automatically track and report the value of our assets on Maple Finance, allowing us to maintain transparency—any user can independently verify the value of the assets we hold in our Enzyme vault.
Take a look at the Chainlink Today article to learn more.
Euler Finance Listing, Twitter Spaces
On 12 September, BraveNewDeFi from Nexus Mutual and Seraphim from Euler Finance discussed the recent listing of Euler Finance in the Nexus Mutual dApp on Twitter Spaces.
The two discussed the recent listing of Euler Finance in the Nexus Mutual dApp, where there is 5.8m DAI in open capacity.
BraveNewDeFi and Seraphim also enjoyed a robust discussion about risk in DeFi, including a discussion about TWAP oracle risk after the merge, market risk in lending protocols, bridge risk, and common smart contract risks.
Nexus Mutual @ Berlin Blockchain Week
BraveNewDeFi and Rei are in Berlin to attend the various events happening during Berlin Blockchain Week.
Members who plan to attend and would like to connect can reach out to BraveNewDeFi on Discord or Twitter.
No community call this week
Please note that the Mutant Meetups will be on hiatus for this week and the next. Our next community call will take place on Tuesday, 27 September.
Governance Proposals
ETH PoW | Proposal 180 open for full member vote: Sell the mutual’s ETH PoW assets
Gauthier wrote the on-chain proposal and worked with the Advisory Board to move this vote on-chain.
Now, members are able to vote to with Proposal 180:
Approve sale of ETH PoW w/ funds used to buyback wNXM, send to Nexus Treasury
Do not approve sale of ETH PoW
If approved, this vote would grant a trusted third party the ability to custody the ETH PoW funds, sell on a CEX that supports ETH PoW, and return the funds back to the Nexus Treasury, where any proceeds from the ETH PoW sale will be used to buy back wNXM.
Be sure to review and vote!
The Last Week in Review | 5-11 September 2022
In the last week, the mutual sold $27.2m USD worth of cover and earned $68k USD in premiums, as outlined below.
Active Cover as of 12 September 2022
Total active cover stands at $202m | 117,361.18 ETH with active coverage by cover type as follows.
You can review total active cover and active cover by platform on the Nexus Tracker platform.
Up Next
Please note that the Mutant Meetups will be on hiatus for next week. Our next community call will take place on Tuesday, 27 September.
Don’t forget to follow the Nexus Mutual Twitter account for regular updates and communication from the mutual. You can follow the Nexus Mutual Bot Twitter account to stay up to date on cover buys as they happen.
Have a great rest of the week 🐢
Resources
Nexus Mutual is fully transparent. You can verify the information within this newsletter and learn more about the mutual through the resources below.
Nexus Mutual’s community is most active on Discord. You may reach our team with any questions through LinkedIn and Discord.