Nexus Mutual and Native Partner to Enhance Crypto Insurance with On-Chain Covers

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Nexus Mutual, a decentralized finance (DeFi) cover provider, has recently partnered with Native, a new crypto insurance broker. This collaboration aims to enhance the insurance landscape for crypto assets and smart contracts.

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Key Details of the Partnership:

Seed Funding and Launch:
- Native has launched with $2.6 million in seed funding, led by Nexus Mutual. This funding will support the development and growth of Native as a crypto insurance broker.

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On-Chain Covers:
- Native and Nexus Mutual have introduced an exclusive line of on-chain covers with a $20 million limit. These covers are designed to protect users from potential bugs and failures in smart contracts.
Role of Nexus Mutual:
- Nexus Mutual plays a crucial role in this partnership by providing the underlying infrastructure and expertise in decentralized insurance. They use Ethereum to enable people to share risk collectively without traditional insurance companies.
- The mutual leverages smart contracts to record and enforce member decisions, ensuring a transparent and efficient process.
Benefits of the Partnership:
- The partnership allows for the creation of risk-sharing pools, which can offer more flexible and tailored insurance solutions compared to traditional insurance models.
- Users can benefit from expedited claims processing and the ability to insure their smart contract positions using the native NXM token.
Additional Offerings:
- Native is also working on providing staking coverage, further expanding the range of insurable risks within the DeFi space.

This partnership between Nexus Mutual and Native is set to revolutionize the way crypto assets and smart contracts are insured, offering more security and flexibility to users in the rapidly evolving DeFi ecosystem.

Nexus Mutual and Native Partner to Enhance Crypto Insurance with On-Chain Covers

Preview

Key Details of the Partnership:

Seed Funding and Launch:
- Native has launched with $2.6 million in seed funding, led by Nexus Mutual. This funding will support the development and growth of Native as a crypto insurance broker.

Preview

On-Chain Covers:
- Native and Nexus Mutual have introduced an exclusive line of on-chain covers with a $20 million limit. These covers are designed to protect users from potential bugs and failures in smart contracts.
Role of Nexus Mutual:
- Nexus Mutual plays a crucial role in this partnership by providing the underlying infrastructure and expertise in decentralized insurance. They use Ethereum to enable people to share risk collectively without traditional insurance companies.
- The mutual leverages smart contracts to record and enforce member decisions, ensuring a transparent and efficient process.
Benefits of the Partnership:
- The partnership allows for the creation of risk-sharing pools, which can offer more flexible and tailored insurance solutions compared to traditional insurance models.
- Users can benefit from expedited claims processing and the ability to insure their smart contract positions using the native NXM token.
Additional Offerings:
- Native is also working on providing staking coverage, further expanding the range of insurable risks within the DeFi space.