Nexus Mutual

**Multi Protocol Cover** now offers comprehensive protection for DeFi strategies spanning multiple protocols. This consolidated coverage extends beyond single protocol protection, safeguarding users against: - Smart contract hacks and exploits - Oracle failures - Cross-protocol risks The service builds on existing single protocol coverage for platforms like Aave and Uniswap, now providing **unified protection** for complex multi-protocol strategies. [Watch the walkthrough](https://youtu.be/yITiIAgGsd0?si=_9tzenRdBEMruoit) to understand how consolidated coverage works across different protocols.

**Nexus Mutual members are voting on a proposal to create a USDC-denominated yield-bearing vault** that would bring real-world insurance returns to crypto capital. The proposal, known as NMPIP (Nexus Mutual Protocol Improvement Proposal), is currently open for voting on Snapshot for 3 days. **Key details:** - Vault would operate under the Nexus Mutual umbrella - Focus on generating yield through real-world insurance activities - Requires technical, legal, and operational development work - Would involve collaboration between DAO R&D team and Foundation teams If approved, development teams will begin the complex process of building the infrastructure needed to bridge traditional insurance returns with crypto capital. The initiative represents Nexus Mutual's expansion beyond pure crypto insurance into broader financial products. [Full forum discussion](https://forum.nexusmutual.io/t/nmpip-real-world-insurance-vault-bringing-insurance-returns-to-crypto-capital/1818)

**Nexus Mutual** has opened voting on a new proposal to create a **Real-World Insurance Vault** that would bring traditional insurance returns to crypto capital. **Key Details:** - NMPIP voting is live on Snapshot for the next 3 days - Members can participate in governance decision-making - Proposal aims to bridge traditional insurance with crypto assets **What This Means:** The proposal represents Nexus Mutual's continued expansion beyond pure crypto insurance into traditional financial products. **Next Steps:** Nexus Mutual members should review the full proposal and cast their votes before the deadline. [Vote on Snapshot](https://snapshot.box/#/s:community.nexusmutual.eth/proposal/0x2738d3a859b8fb3bfa61253db6b99dad0093a8ad1dba8380cf2827a0d6d2f171)

**Nexus Mutual is expanding its crypto coverage offerings this December**, with additional products in development. The decentralized insurance platform continues building on strong momentum from earlier this year when it surpassed **$100 million in active cover** - representing a 3x increase since January. - Platform targeting 10x growth in cover sales by end of 2024 - Focus on providing insurance alternatives for crypto assets - Community dashboard available for tracking coverage metrics The expansion signals growing demand for decentralized insurance solutions in the crypto space as users seek protection for their digital assets. [View coverage dashboard](https://dune.com/nexus_mutual/community)

OpenCover has updated their Base DeFi Pass, enhancing security for DeFi activities on Base network. Key features include: - Protection against hacks, smart contract bugs, and protocol failures - Coverage for 9 major protocols including Aerodrome, Beefy, Uniswap - Partnership with Nexus Mutual for comprehensive coverage Base creator Jesse Pollak endorsed the pass in CoinDesk, highlighting its role in building user confidence. The platform offers a free 30-day trial covering up to $10,000 in protection per user. Learn more: [Base DeFi Pass](https://opencover.com/basepass/)

The Nexus Mutual DAO has announced nearly $600,000 in available grants. This significant funding opportunity is open for applications, with details on the Request for Proposals (RFPs) and application process available on their website. Key points: - Almost $600,000 in grants available - Open RFPs for various projects - Application process detailed on NexusMutualDAO website **How to apply:** 1. Visit https://nexusmutualdao.io/grants-program 2. Review open RFPs 3. Submit your application *Interested in contributing? Check out the program and see if your ideas align with their current priorities!*

International tensions led to a bearish start for crypto this week, with ETH facing additional pressure from decreased L1 activity and fees. Key developments: - SWIFT to trial digital asset transactions with banks in 2025 - Synthetix community approves major governance change - EigenLayer token debuts with $7B valuation - FTX creditors approve reorganization plan - Solana DEX volumes surpass Ethereum again - Japan to review crypto financial regulations Despite the slow start, the DeFi ecosystem continues to evolve with significant governance changes, new token launches, and regulatory developments shaping the landscape.

Nexus Mutual, a decentralized insurance alternative, is preparing to launch Bitcoin-denominated cover options. This development aims to expand their services to cater to the Bitcoin community. Key points: - BTC-denominated cover coming soon to Nexus Mutual - More information available in the Request for Comments (RFC) - RFC discusses onboarding cbBTC as a capital pool asset Interested parties can find detailed information in the RFC posted on the Nexus Mutual forum. This move could potentially provide more diverse insurance options for Bitcoin holders. To learn more, visit the Nexus Mutual forum and review the RFC.

As Return-to-Office (RTO) mandates gain traction in the tech industry, Nexus Mutual stands out by maintaining a fully remote work model. The company's team spans nearly a dozen countries, from the USA to Turkey, offering a global perspective. Key points: - Nexus Mutual remains committed to remote work - Team members are located in almost 12 countries - Global diversity aligns with DeFi principles The company views this approach as a natural extension of its decentralized finance (DeFi) ethos, effectively 'decentralizing' its workforce. This strategy not only provides operational flexibility but also ensures a diverse range of insights from various global markets.

In April 2022, a significant hack targeted TribeDAO and Rari Capital's Fuse Market: - Hackers exploited a money market vulnerability - Damage totaled $80M across various Rari Capital pools - Nexus Mutual stepped in to support affected users: - Paid out over $5M in claims to cover holders - Demonstrated the importance of crypto insurance alternatives This incident highlights the ongoing security challenges in DeFi and the crucial role of protection mechanisms like Nexus Mutual in mitigating risks for users.