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0/10
@NexusMutual has sold ~$10m worth of cover since the start of 2021
With the launch of @HuobiGlobal @Gemini @coinbase @binance cover today, I think it's time for a thread.
@NexusMutual has sold ~$10m worth of cover since the start of 2021
With the launch of @HuobiGlobal @Gemini @coinbase @binance cover today, I think it's time for a thread.
1/10
Let's start with some stats (01-12-2020 vs 01-12-2021)
Active cover amount: $1.2m vs $103m (86x)
Total premiums paid : $10k vs $6.23m (623x)
Capital Pool Size : $1.83m vs $177m (97x)
Let's start with some stats (01-12-2020 vs 01-12-2021)
Active cover amount: $1.2m vs $103m (86x)
Total premiums paid : $10k vs $6.23m (623x)
Capital Pool Size : $1.83m vs $177m (97x)
2/10
All of that has been achieved with only 1 product : Smart Contract Cover.
Since a few weeks, a second product is available : Custodial Cover. It started with Nexo, BlockFi,...
All of that has been achieved with only 1 product : Smart Contract Cover.
Since a few weeks, a second product is available : Custodial Cover. It started with Nexo, BlockFi,...
3/10
Custodial Cover is now expanding to the major crypto exchanges. This has a huge impact on Nexus' total adressable market, and lays the foundation for much more future growth.
Custodial Cover is now expanding to the major crypto exchanges. This has a huge impact on Nexus' total adressable market, and lays the foundation for much more future growth.
4/10
Nexus has 3 revenues streams :
1) Cover premiums : benefits NXM stakers & $NXM / $WNXM holders.
2) Redemptions fees : selling $NXM incur a 2.5% fee. It transfers value from speculators/arbitragers to long term holders.
3) Investments earnings : benefits $NXM / $WNXM holders
Nexus has 3 revenues streams :
1) Cover premiums : benefits NXM stakers & $NXM / $WNXM holders.
2) Redemptions fees : selling $NXM incur a 2.5% fee. It transfers value from speculators/arbitragers to long term holders.
3) Investments earnings : benefits $NXM / $WNXM holders
5/10
Currently, only 1) is effective. 2) will be effective again when MCR go over 100%. 3) is coming soon and is being discussed on the forum.
That means that soon we will see the 3 revenue streams work together to accrue value to Nexus holders!
Currently, only 1) is effective. 2) will be effective again when MCR go over 100%. 3) is coming soon and is being discussed on the forum.
That means that soon we will see the 3 revenue streams work together to accrue value to Nexus holders!
6/10
1) & 3) go directly into the pool. It acts like a capital buffer that can never be redeemed.
2) is currently going to the Nexus Foundation to pay for expenses. Mid term, this revenue stream will be directed to Nexus Community Fund to reward stakers and community members.
1) & 3) go directly into the pool. It acts like a capital buffer that can never be redeemed.
2) is currently going to the Nexus Foundation to pay for expenses. Mid term, this revenue stream will be directed to Nexus Community Fund to reward stakers and community members.
7/10
As an investor, it is really important to me that the success of @NexusMutual is aligned with the success of the $NXM token. I think Nexus does a really good job on this point with the price driven directly by the growth of the mutual.
As an investor, it is really important to me that the success of @NexusMutual is aligned with the success of the $NXM token. I think Nexus does a really good job on this point with the price driven directly by the growth of the mutual.
8/10
Now that you understand the model and the astonishing growth of Nexus, what's next?
- A governance vote is coming. The unstaking lockup will drop from 90days to 30days
- Stacking 3.0 to make everything smoother
Now that you understand the model and the astonishing growth of Nexus, what's next?
- A governance vote is coming. The unstaking lockup will drop from 90days to 30days
- Stacking 3.0 to make everything smoother
9/10
- Creation of the Community Fund to better reward stakers and community members.
- @ArmorFi is launching this month and will allow pay-by-the-block covers
- NFT covers, meaning they will be sellable if you don't need them anymore
- Stacked Risk Cover for vault strategies
- Creation of the Community Fund to better reward stakers and community members.
- @ArmorFi is launching this month and will allow pay-by-the-block covers
- NFT covers, meaning they will be sellable if you don't need them anymore
- Stacked Risk Cover for vault strategies
10/10
Maybe I forgot a few things because there is just so much going on
Feel free to come on our discord if you guys have any questions.
cc @pet3rpan_ ;)
Maybe I forgot a few things because there is just so much going on
Feel free to come on our discord if you guys have any questions.
cc @pet3rpan_ ;)
