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Nexus Mutual (NXM): DeFi Insurance, HUGE Potential!!๐Ÿ”



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– TIMESTAMPS –
0:00 Intro
2:03 What’s Nexus Mutual?
4:22 Why it’s Wanted
9:00 Find out how to Purchase Insurance coverage
11:44 The NXM Token
12:51 Token Financial Mannequin
16:14 Worth Potential & WNXM
18:22 Last Ideas

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โ›“๏ธ ๐Ÿ”— Helpful Hyperlinks ๐Ÿ”— โ›“๏ธ

โ–บ Nexus Mutual Web site:
โ–บ Docs:
โ–บ Whitepaper:
โ–บ Steps for Insurance coverage:
โ–บ Parity Hack:

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๐Ÿ“ What’s Nexus Mutual? ๐Ÿ“

It’s a decentralised “insurance coverage” protocol that’s constructed on Ethereum. It permits customers to take out ‘cowl’ or ‘safety’ for particular dangers that exist within the crypto ecosystem.

What makes Nexus Mutual distinctive from the likes of your conventional insurance coverage firm is that that the insurance coverage pool is decentralisaed. Customers will pool their belongings in a decentralised and clear method. Threat is shared amoung the pool and so are the potential rewards.

Their first characteristic that they’ve added is ‘Sensible Contract cowl’. This mainly permits customers to safe the danger that’s offered by good contract errors or hacks – generally a number of the most financially expensive.

Nexus Mutual is an organization that’s restricted by gaurantee in the UK. It operates beneath a discretionary mutual construction which implies that all insurance coverage claims are paid on the discretion of the Board

Nexus Mutual was launched again in Could of 2019 and it raised an undisclosed sum from early traders together with the likes of Kenetic, Blockchain Capital, Collider ventures and many others

๐Ÿ’ญ Why It’s Wanted ๐Ÿ’ญ

Sensible contract bugs & hacks are an actual concern within the crypto area. They’ve occurred many instances earlier than and are exhausting to cease. You may audit your contracts and make it possible for the code is clear however there are some issues that may all the time escape shut scrutiny.

Among the most up-to-date examples embrace these of the Parity pockets hack that noticed over 500k ETH being locked away endlessly. You then even have the instance of the Yam finance rebasing contract that triggered the worth of YAM to break down and the TVL to fall in direction of 0.

Nexus Mutual permits individuals to safe themselves in opposition to these dangers in a decentralised method. They may also share within the success of the mutual as they’re members of it as nicely.

๐Ÿ“ˆ Nexus Mutual Token ๐Ÿ“ˆ

The Nexus Mutual token is an ERC20 token that offers customers membership to the mutual itself. These tokens signify your membership rights to the mutual. What’s essential to notice right here is that they will solely be purchased and bought on the Nexus Mutual platform.

The token serves just a few roles within the Ecosystem:

Firstly, it is capital effecient and permits for a scalable technique to increase capital. Their distinctive tokenomic mannequin will make sure the influx of funds solely when they’re required.

Secondly, it aligns incentives. All of these people who find themselves members of the mutual will profit from the success of the platform. They are going to all work in direction of a extra cohesive mutual.

And at last, the token value is instantly linked to the adoption and efficiency of the underlying mutual.

๐Ÿ‘จโ€๐Ÿซ Tokenomics ๐Ÿ‘จโ€๐Ÿซ

Nexus Mutual controls the provision, issuance and redemption of the token. That is all primarily based on a continous token financial mannequin the place the worth is dependent upon how a lot funds are within the mutual.

The value is a operate of the Minimal Capital Requirement (MCR). The upper the MCR, the dearer the token turns into.

It makes use of the token value as a method to capitalise the funds. It is going to dynamically lower the worth of the token which implies that it is going to be cheaper to change into a member and therefore purchase cowl.

On the flip aspect, if extra cowl is bought, the capital pool will increase. Which means the MCR may also improve however most often its lower than the capital pool.

WNXM is wrapped token that’s redeemable 1 for 1 for NXM tokens. The one small element is that they are often redeemed by somebody who’s a member

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๐Ÿ“œ Disclaimer ๐Ÿ“œ

The data contained herein is for informational functions solely. Nothing herein shall be construed to be monetary authorized or tax recommendation. The content material of this video is solely the opinions of the speaker who will not be a licensed monetary advisor or registered funding advisor. Buying and selling Foreign exchange, cryptocurrencies and CFDs poses appreciable threat of loss. The speaker doesn’t assure any specific end result.

#NexusMutual #NXM #defi #ethereum #crypto #evaluate #smartcontract #hacks #blockchain

Source: Coin Bureau

35 Responses

  1. I can't believe how few views and comments this video has! The Mutual is just about to pass a Governance vote reducing minimum lock-up time from 90 days to 30 days and another one that will increase the capacity factor on several of the more established DEXs, which will increase the amount of cover that can be purchased. This thing is going to absolutely kick off this year, I'm SO bullish on NXM I can barely even put it into words.

  2. Hello sir, its been a month since this video. I was wondering if you still feel Defi insurance is going to be a "thing". I would love to hear your thoughts on some of the other players who are showing up now such as Cronje supported Cover Protocol and how they compare with Nexus which is still the leader in the field atm.Thanks for all your hard work.

  3. I hate sounding like a shill, but if you believe in the long term growth of DeFi, then Nexus Mutual will benefit greatly. Just look at the growth in active cover.
    Itโ€™s similar to Chainlink in that you donโ€™t need to pick a winner, youโ€™re selling picks n shovels.

  4. Dude, I like your content. Keep up the good work. I would not consider $NXM as decentralized if KYC is required to join the mutual and redeem tokens. Decentralized means permissionLess. This is not it IMHO. Cheers โœ‹

  5. Oh that's great. I did the kyc when NXM was about $2 ๐Ÿ™‚ I was a bit mad that the wrapped nxm price was higher but now I understand my investment much better.

  6. You check out Unipump UPP very cool idea for dex trading groups, great for those who donโ€™t have the time or experience to day trade themselves, good traders with followers will bank big time on this concept

  7. ๐Ÿงก๐Ÿ’›๐Ÿ’š๐Ÿ’™ Fantastic video Guy! I have been in Nexus Mutual for a few months now, and did the KYC to get in. They have a professional community feel in their Discord, lots of "professional corporate white collar" business people in there…. definitely has potential to 10-30x from here
    ๐Ÿงก๐Ÿ’›๐Ÿ’š๐Ÿ’™

  8. Nice coverage of NXM / wNXM. I feel this is something that was required in today's DeFi Wild West. And they will be covering much more that just smart contracts eventually. Smart contracts are just the first step. As their Web site clearly states they will start covering other aspects of the crypto world, even wallets. And yEarn integrating them on their platform does away with even the KYC requirement to get an insurance. So this would be a very big boost to use and adoption of the Nexus Mutual platform.

  9. Lamden is coming on board and it could at least either eliminate insurance requirements for Python devs or provide lower insurance premiums for developers using Python to write smart contracts. It is the #2 most popular programming language. Lamden touts it's framework eliminates the possibility of dev errors as it is framed from ground up specifically using Python.

  10. Thanks for your research. Hope you'll take a look on $ZZZ and the ecosystem. It's a Community driven DeFi project. Keys burned, no rug-pull possible. Just announced 3rd party audit of codebase. looks legit.

  11. It's a scam!!!!!! When people should vote on something that requires taking from their own money, they will reject the claim. Most of the time, people will say "Sorry, but you should have been more careful". The first and most important aspect of a smart-contract is that every action should be written in the code so it will be trustless. In the case of Nexus Mutual, you're trusting that people will help you when you need them. These two ideas opposing each other.

  12. Hi Guy, thanks for the amazing work you provide for the community.
    1/ In your future videos, it would be great if you can also mention competitors of the project you present.
    For example, for NXM, what are their competitors?
    2/ You didn't say if you hold NXM?

    Thanks again, to me best research crypto channel with Chico Crypto on YT.

    Cheers from Chicago

  13. hey guy, do you read the comments? I love to comment the channels I like, but only when I see it will be read.
    anyway , Thank you so much for your work. you presented many tools for us, but in the end, you are our most valuable tool. tks

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