In the November 2023 edition of The Hedge, we’ll be looking into how the Mutual’s sales have evolved over the last quarter. We’re also excited to share news about NMPIP-209: Launch Tokenomics Upgrade!
Let’s dive into the latest updates and developments 👇
NMPIP-209: Launch Tokenomics Upgrade
On Tuesday (7 November), NMPIP-209: Launch Tokenomics Upgrade went live on the governance forum.
The DAO R&D, Community and Foundation Engineering teams are proposing to replace the Bonding Curve with the Ratcheting AMM (RAMM), with the initial parameters outlined in the linked NMPIP, and to remove the Minimum Capital Requirement (MCR) Floor.
It's time for members like you to review the proposal and get ready for the all-members governance vote, which is tentatively scheduled for 15 November 🗳️
If Mutual members vote to approve NMPIP-209, the Advisory Board will launch the RAMM, remove the MCR Floor, and implement an MCR driven by the Total Active Cover Amount.
We encourage you to review the proposal, the RAMM whitepaper, and the audit reports, which are all available on the forum.
Set a reminder and look for updates during the week of 13 November!
Nexus Mutual Team at Staking Summit in Istanbul on 10–11 November
Nexus Mutual Foundation and DAO team members will be in Istanbul at the Staking Summit on 10–11 November!
Our team is excited for the panel discussions and we’re looking forward to meeting active builders and operators in the staking ecosystem.
To learn more about how Nexus Mutual coverage products may protect you from ETH slashing risks or to connect with our team, you can set up a meeting ahead of time. If you’ll be at the Staking Summit, please reach out and set up a meeting!
Third Quarter (Q3) 2023 Insights, Presented by the DAO Community Team
On Thursday (9 November), we shared the Q3 2023 Insights report on the governance forum, which provides an overview of the developments from the last quarter using data points and analysis from the Nexus Mutual DAO Dune dashboards.
In the report, you can find a breakdown of Q3’s cover sales, cover fees earned, investment earnings, major partnerships and cover buys, and more.
We’re excited to shine a spotlight on the major innovations from the last quarter and highlight the progress Mutual members have made to date!
DefiEdge’s Protocol Cover Listing
DefiEdge is an asset management protocol that helps liquidity providers streamline their investments in Uniswap V3 pools. Explore DefiEdge Protocol Cover on the Nexus Mutual UI!
To highlight the recent DefiEdge listing, BraveNewDeFi will be joining the OpenCover and DefiEdge team on Friday (10 November) at 4pm UTC to talk about Nexus Mutual Protocol Cover and how to protect deposits in DeFi protocols.
They'll be holding an AMA on Twitter Spaces, so if you want to learn more about OpenCover or DefiEdge, join us on Friday and bring any questions you might have!
BraveNewDeFi (Head of Community at Nexus Mutual DAO) and Jeremiah (OpenCover) on The Optimist Podcast
BraveNewDeFi joined The Optimist Podcast last week to talk about on-chain risks and coverage with Jeremiah from the OpenCover team. As you might be aware, the OpenCover team is one of the DeFi teams that has been building on top of Nexus Mutual V2, enabling cover sales on Layer 2s like Base and Optimism.
During the insightful chat, BraveNewDeFi and Jeremiah discussed the most recent smart contract exploits and how many users are still yet to discover how on-chain coverage can give them peace of mind while navigating the DeFi landscape. The talk also included some helpful tips for staying safe in DeFi, such as exploring malicious transaction alert plugins for wallets.
Listen to the conversation at The Optimist Podcast on X!
Resources
You can find the October updates from the Nexus Mutual community below:
Nexus Mutual is fully transparent. You can verify the information within this newsletter and learn more about the mutual through the resources below:
Thanks for reading!
We look forward to seeing you at our next Community Call on the Nexus Mutual Discord on 14 November (Tuesday) at 1pm UTC!