The Ethereum-based platform for covering losses from DeFi hacks and other flubs is expanding to other chains.
The Singapore crypto lender toughed it through the bear market and now has $250 million locked and lended.
The firm aims to sell over $1 billion worth of cover in 2021 spread across at least 30 protocols.
A way to be covered in the event of an exchange hack.
Nexus Mutual's CEO, Hugh Karp, lost the tokens after an attacker gained remote access to his computer.
Nexus Mutual is seeing a surge in demand. "Our product has honestly seen massive interest since yield farming kicked off," said founder Hugh Karp.
Nexus Mutual, an alternative insurance provider for a variety of Ethereum-based DeFi protocols, has seen its risk pool double over the past 90 days to more than $4 million.
Nexus Mutual members voted to pay out two claims following the bZx flash loan attacks – a first for the DeFi insurance pioneer.
Insurtech startup Nexus Mutual and wallet provider Argent have teamed up to bring bank account-like protection to ethereum.
Nexus is one of several blockchain startups trying to revive mutual insurance. Its first product will cover the risks of ethereum smart contracts.