Nexus Mutual Newsletter | 17 August 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.
Highlights
Another Claim Approved and Paid: Claim 120 for Bancor v3
After reviewing and approving Claim 120, members of the mutual paid out 20 ETH. To date, the mutual has paid out 1566.43 ETH + 5,462,759 DAI to cover holders who have suffered a loss of funds due to hacks, attacks and failures. The payout amounts to more than $8.4m.
As with all other claim payouts, anyone can review and verify past claim payouts on-chain. You can review the mutual’s claim history in our documentation, as well, where there are a variety of resources avialable.
Claims Assessment at Nexus Mutual is a responsibility shared by the members of the mutual. For a claim to be approved, either one of the following should apply:
Voting consensus should at least be 70%; or
Voting weight should at least be 5x the Cover Amount.
As claims are filed, members are welcome to discuss on the Claims Discussions channel on the mutual’s Discord.
Community Call on 17 August
Nexus Mutual Discord, Community Calls Voice Channel
On this week’s Community Call, Lee / BraveNewDeFi reviewed some of the highlights from the past week, including the proposal to invest in Maple Finance Maven 11 Pool from the Capital Pool, which was approved by members in the last week. As underlined in the original proposal posted on the Nexus Mutual Forum, there are various strategies to earn additional yield through utilizing the $MPL rewards. During his core team update, Hugh added that the engineering work required to invest in the Maven 11 Pool through the Enzyme integration had taken some time to finish.
Hugh said the Nexus V2 developments are going as planned, with the engineering team continuing to focus on UI work, testing and audit findings. Hugh also gave an update on the tokenomics working group. The group has progressed beyond the economic design of the amended bonding curve model and have moved onto the engineering phase. The engineering team recently provided the tokenomics working group with feedback on their code. Once the engineering portion of this project is finished, the tokenomics group will present the proposal to the community. All interested members are welcome to be a part of the Tokenomics Working Group and may contact Dopeee#0990 on the Nexus Mutual Discord to join in. Like many other members, Hugh also believes that it’s a great time to re-think this key mechanism of the mutual. Lastly as part of the core team update, Hugh shared that the engineering team successfully expanded, with another engineer planned to join in the next few weeks.
If you couldn’t join us on the call this week, you can listen to this week’s community call recording on the Nexus Mutual YouTube channel.
Governance Proposals
The following Snapshot proposals passed last week:
ETHPoW Execution, Allocation Discussion | Next Steps
Gauthier had posted a temperature check on Snapshot regarding the discussion about the ETH PoW fork, ETH assets on the forked chain, and the proposal to have a plan prepared to capture value after the merge happens.
Now that the temperature check has received strong support, members can discuss the next steps on the forum in Gauthier’s follow up post. Members can participate in the discussion and share their views on:
How the value captured from selling PoW ETH should be allocated
Who should be nominated and selected to execute the trade on a CEX after the merge
Once members share their opinions on how the funds should be allocated, we can narrow the choices down via a final Snapshot vote. Those choices will be used to create the final on-chain vote.
Be sure to review and share your thoughts!
The Last Week in Review | 8–14 August 2022
Last Week in Cover Sales
In the last week, the mutual sold $6.5m USD worth of cover and earned $41.8k USD in premiums, as outlined below.
Active Cover as of 15 August 2022
Total active cover stands at $250.5m USD 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
Join us on next week’s Mutant Meetup call in Discord at 9am EST / 1pm UTC to stay up-to-date on all things Nexus Mutual.
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.