Nexus Mutual Newsletter | 16 May 2022
Rari Capital Claims
In the last week, two new Rari Capital claims have been filed.
Fuse Market Exploit | Claim 113
A member filed a $5m claim for a loss that occurred in Pool 127 during the Rari Fuse market exploit. This claim has transitioned to a full member vote, as this claim failed to receive 5 times the voting weight during the Claims Assessment vote.
Members can refer to the Nexus documentation regarding the process of a full member vote on a claim.
Fuse Market Ichi Pool 136 Loss Event | Claim 114
Over the weekend, a member submitted a claim for the Rari Fuse Pool #136 (ICHI Pool).
Members can review and vote on this claim in the Nexus dApp.
The Ichi team published the following post-mortem regarding the event, and Jack Longarzo of Rari Capital also published a thread regarding Pool 136.
Members can join the Nexus Mutual Discord and participate in the discussion regarding Claim 114. For more information on Claims Assessment, see the Nexus Mutual docs.
Nexus Mutual @ Permissionless
Today, BraveNewDeFi and Dopeee will be heading to Palm Beach, FL, for Permissionless, one of the largest DeFi conferences with over 5,000 attendees.
( (BraveNewDeFi) will be at the Bancor booth throughout the week giving away Nexus + Bancor t-shirts and talking with attendees about Nexus Mutual. I’ll highlight the benefits of depositing in Bancor and covering your position with cover from Nexus Mutual: impermanent loss (IL) protection from day one in Bancor, plus protection against smart contract and technical failure with Protocol Cover from Nexus.
If you’ll be attending Permissionless, reach out to me on Twitter or stop by the Bancor booth! Below are a few other places you can find us at Permissionless.
Hartmann Capital x Enzyme x Nexus Mutual | Happy Hour
On Tuesday (17 May), Hartmann Capital, Enzyme, and Nexus Mutual will be co-hosting a happy hour event at The Regional from 6-9pm EST. Join us for drinks, nibbles and networking.
Register for the happy hour event on EventBrite to reserve your spot!
Nexus Mutual + Liquity | Happy Hour @ 123 Datura
On Wednesday (18 May), Nexus Mutual and Liquity will be co-hosting a happy hour event at 123 Datura. Join us from 5–7pm for curated cocktails, conversation, and networking.
Come for the cocktails, stay for the conversation and the chance to connect with builders and professionals working in DeFi. Nexus Mutual and Liquity will provide guests with an open bar, hors d’oeuvres and food stations.
Register for the happy hour event on EventBrite to reserve your spot!
Mutant Marketing Quarterly Review
On Tuesday, I shared Mutant Marketing’s third operational quarter review on the Nexus Community forum.
In the last quarter, Nexus Mutual sold $513,137,634 in cover and earned $2,657,264 in premiums. Compared to last quarter, total cover sold saw an increase of 2.04% while total premiums earned declined by 6.38%. Due to lower gas fees present during our third quarter, there was an uptick in 5-figure cover buys and thus an increase in the number of covers sold (11.80%).
There were slight declines in the average cover sold and average premium earned; however, the average price of ETH declined by 22.84% quarter over quarter (QoQ), which means a reduction in platform capacity. Despite the market downturn and yield compression that took place, growth remained steady with a modest decline in premiums earned.
The report contains many insights into performance over the last quarter, and I recommend members give it a review. For the overall highlights, see the Twitter thread I published below:
Cover Sales
Weekly Close
In the next week, we’ll be active at Permissionless and our Mutant Meetup call will be put on hold. The next Mutant Meetup call will take place on Tuesday (24 May) at 10am EST / 2pm UTC.
You can follow the Nexus Mutual Twitter account for regular updates and communication from the mutual, and you can follow the Nexus Mutual Bot Twitter account to stay up to date on cover buys as they happen.
Have a great week ahead 🐢