Reddit Posts
Nexus Mutual: A great project with a wide moat in DeFi
Is it still worth it? State of Stablecoin staking market 6/ 2022
DeFi insurance and a 30% APY stablecoin fund we should be excited about
Thoughts on Nexus/NXM - decentralised alternative to insurance, protection from coding errors, hacks, etc
Origin Trail could become a big player, and now Alpha Sigma Capital initiates a Research Coverage on Origin Trail and adds TRAC to their portfolio
Alpha Sigma Capital Initiates Research Coverage on Origin Trail (TRAC) and adds TRAC to their portfolio
Squirrel Finance - gem to help simplify Insurance & DeFi (1m MC)
Mentions
Would crypto insurance cover something like this? I've been experimenting with lots of DeFi protocols lately and signing messages left and right...even though I always make sure to only click official links this gives me some motivation to look into one of the crypto insurance protocols. Anyone have recommendations? Looks like NXM and SURE are the top two by market cap.
FTX is still listed on Nexus Mutual. There’s no capacity available because people have purchased all the open capacity. You can check [Nexus Tracker](https://nexustracker.io/) to see active FTX cover and how much NXM is staked against FTX.
I also had the plan to HODL but the fact that I know the opportunities that comes with BTFD, I have been keeping some cash to buy once it goes deeper, I would be considering low caps like NXM, ORE, AUDIUS that I have specifically followed up on them and they have been building up on their product rather than get overwhelmed by the state of the market.
Not true! You can unwrap wNXM anytime, the issue is you can't exchange your NXM for ETH unless the MCR is above 100%, its currently 94%, so yeah NXM is illiquid, hence the 60% discount on wNXM.
Keep in mind that you can’t always unwrap wNXM. You can only unwrap when the price is a certain way compared to NXM.
Absolutely, but if you want to buy NXM, it makes way more sense to buy wNXM, unwrap it and stake it, rather than paying 3x more on Nexus Mutual site!
Do not invest in NXM unless you understand the difference in price between wNXM and NXM. This is a solid project, but it is a little more complex than many.
There are levels to risk though but I think it is best to put funds into only projects you have researched, based on my own findings, I have MATIC and DOT as solid projects worth investing in meanwhile smaller caps like ORE, NXM and CHZ also have their growth prospects as well.
This isn't even the time to sell as they're all discounted all thanks to the bear market, it would really be a good time for dca, as for me its only fundamental projects and MATIC tops my list also the likes of DOT, OCEAN then smaller caps like CHZ, ORE, and NXM can follow.
I am ready to dca with my eyes on some low caps given that they are capable of making a rapid run when the bulls bounce back, it won't be bad to look into NXM, ORE, or RSR considering their growth potential.
This is insightful, tbh. Insurance protocols like BMI and NXM can be of great help here as well, which can mitigate the risk of such unforseen circumstances and serve as the perfect market hedge.
* Insurance tokens like NXM, DIP (WEF approved), BMI, INSUR * ​ * Interoperability solutions like QNT * ​ * Data-Oriented tokens like VXV, NMR, and OCEAN
This is awful and sad. I heard it is insured with the NXM insurance protocol. Is that right? This is why insurance protocols like BMI and NXM are essential. They are often, at times, referred to as vaporware, but they are not. BMI has paid a claim.
You guys LRC whales do you have your wallets insured already? Look into projects like BMI, INFI, NXM and stay safe
There was some hype about BMI a while ago. But I can see that NXM has a better price.
Go for solid project with good usecase and potential. Don't be greedy to sell at any point of moon when you make some profit, always DYOR and security should be another priority to consider to avoid getting exploited and hack though insurance protocol like BMI and NXM play a good role in this aspect, also use of hardware wallet and Multi signature.
I know defi insurance is still underrated. But as hacks and rugs continue to happen, people will realize its potential. I dont know what covers NXM is offering tho since i can see so many different coverage in one place.
What is the safest exchange where I get a wide variety of altcoins like NXM, DIP, AVAX, FTM, KUSAMA? NXM might be directed only so maybe ignore that one
Yep. You can easily get covers from BMI or NXM in Bright Union. Lots of hack attacks recently so people need to consider having defi coverage now.
Yah im in for KAVA, HARD and other crypto insurance like BMI, INFI, NXM. It's good to see having a working protocol.
NXM. I think insurance is an area that could grow in the future.
13. Insure your stuff with any of the insurance protocols. BMI NXM INFI COVER etc
Isn't staking better and safer? Im staking some BRIGHT which aggregates crypto insurance like NXM and BMI. If you do yieldfarming you're subject to impermanent loss.
This is the perfect time for us to engage on platforms that have insurance protocols. BMI NXM COVER and BRIGHT are the good ones. imo
Anyone else think that NXM will also be used as the insurance provider on smart contracts for ADA? Currently only running on the ETH network.
Anyone else think that NXM will also be used as the insurance provider on smart contracts for ADA? Currently only running on the ETH network.
Anyone else think that NXM will also be used as the insurance provider on smart contracts for ADA? Currently only running on the ETH network.
I can feel ADA reaching high grounds this weekend, I can feel it in my booones! 
No problem. Great question, I had to look it up. It turns out that anyone can choose to be a "risk assessor", whereby they choose to stake their NXM to vouch that the contract is less risky. When they do this, the protocol automatically reduces the interest rate a bit. If the contract in question gets exploited or whatever, the assessors who vouched for it get penalized (lose some stake). Eventually the price will reach an equilibrium where no more risk assessors are willing to stake more NXM to lower the rate. Presumably, most people doing this actually know how to read Solidity and are actually looking into the code of the contracts they vouch for, or else they wouldn't be able to make informed decisions about when to vouch and when not to. Since there is a financial incentive to be a risk assessor, we assumed that the crowd-sourced assessment is fairly accurate. Hope that helps!
Yeah, exactly, you need to prove your identity. It basically means that all your interactions with the insurance protocol are known by an entity that could theoretically hand that data over to your government, just like when you use a CEX. Lots of DeFi people consider this to be antithetical to DeFi. The way these protocols tend to work is that a whole bunch of anonymous users choose to share your risk, and they also share the insurance rates you pay. So, it is just straight up decentralized underwriting, controlled by a smart contract protocol. The insurance protocol will have you select what smart contract you need insurance for from a huge list of common protocols, dApps, AMMs, DEXes, etc. Each smart contract will have a different insurance rate, based upon how risky the smart contract is considered to be. By the way, I know a crypto called Nexus exists (and has for 7 years), but it's not related to the Nexus insurance protocol. The insurance company's full name is Nexus Mutual, and their token's ticker is NXM.
NXM is my most solid crypto that has been mentioned <10 times here. I have others that I like more due to greater upside, but it is trading below book value for an insurance mutual.
UNO, I want to see how it handles a coin supply change that is coming. I like the project BMI, seems like it can go head to head with NXM in the future.
100% seems to good to be true but if yes, then that's great. I have been reading into defi insurances lately as well and didnt know they have aggregator just like 1inch. Maybe you can find answer there since they have many insurances that can offer including NXM, BMI, COVER, etc.
I am interested in the DeFi insurance field. Some of the players include NXM/wNXM, UNO, BMI, COVER
How about BRIGHT? recently launched their staking program. now at 883.1%+ APY I feel bullish on this platform already as they're partnered with BMI and NXM
I think NXM will still be around and be a bigger player. They have already started underwriting the coverage of other players
Lads look into crypto insurance with all those millions. I will get policies from whoever offers KYCless coverages for stablecoin wallets like BMI, NXM, INFI, COVER
I want to be clear that I don’t have large bags of either of these. I primarily invest in coins/tokens that I think can 20X-100X. I don’t think these coins will do that, but I truly believe in the projects and think that they will be around. NXM requires KYC to truly make the most of the token (and it is not decentralized), but it is registered to provide real insurance.
Currently checking out NXM and BAT is nice
BAT- This is not a moon coin. I think this will be a blue chip crypto with steady growth, but won’t sky rocket NXM- About 70% of the crypto insurance field involves this crypto in some extent. The price is actual controlled via a formula.
New but promising imo. NXM and BMI are leading the way but there are others as well. NXM will eventually fade because of their limitation to insure only smart-contracts
$NXM is an insurance pool token, I guess policy packages will be available in the future.
Exactly! NXM is the yahoo while BMI is the google. Soon most of those who couldn't follow this project closely would be sorry for not buying the dip...and boy, what a dip!
The Nexus Mutual founder lost millions in NXM using the same set up by simply not paying attention to what he was approving. I use the same setup myself, but it does have its flaws.
There was some hype about BMI a while ago. But I can see that NXM has a better price.
Those are all possibilities. Compound has been around for more than a year with no hacks, so it seems unlikely that there will be a hack. You can look into NXM and COVER for instance against hands and lots of funds.
I think that the crypto insurance field is an Interesting one with potential. BMI and NXM are the two I am interested in the most. I think the eventually “unicorn” will be the company that brings blockchain insurance to things other than crypto. BMI has a broader coverage area right now and they “say” they plan to expand outside of crypto. I don’t know if they will be the one, but even if they just stay in crypto they are solid
I thought the same for a while but then I looked at the total supply and it turns out that NXM has the smallest supply. That can be the reason.
i see many people talk about NXM and it looks like they have the best price. idk much about insurance in general.
yeah, but NXM is focused only on smart contract coverage. projects like BMI and INFI can cover more. BMI, for example, can cover stablecoins and centralized exchanges in addition to smart contract coverage. i think they should launch their app in June.
that's because they have a way smaller supply. but if you take a closer look, NXM is only about smart contract coverage. i don't say it's bad, but there are more things to be covered if you really wanna be safe from hacks, rugs, attacks...
It looks like NXM has the best price so far.
you are not the only one. that's why I started researching insurance projects, those can be interesting in the future. depends on what you like but BMI and NXM look legit and I keep seeing people talk about INFI and CVR as well.
insurance is going to be big, i have no doubts about it. even if NXM looks like the biggest one, i think that BMI is going to lead the way in the near future.
But it looks like the NXM has the best price so far.
That's my to go project as well. I've looked at NXM INFI CVR and BMI so far and it seems that the most loved is the last one. The KYC-less feature of the policies that BMI offers probably appealed to the most people that did the research and are looking to use it long term.
NXM has been here for a while and even if it's the biggest, the protocol is nowhere near BMI's potential techwise
there are some apps that are already working, that's why BMI and NXM are going to be big. there are some differences but i think both are legit. i like bmi because they can actually cover both stablecoins and smart contracts.
It looks like NXM is the biggest but I saw a lot of hype about BMI as well... So many projects these days, we will see which one will survive. I think it's still early to talk about that.
Lots of insurances protocols have emerged. NXM is the oldest, CVR, INFI, BMI, SHIELD The question is if there is enough room for all of them
you should consider getting insurance in the future. i always feel bad when i see that someone got hacked or whatever... insurance will be an important subject in the near future and there are a bunch of projects with good fundamentals like BMI, NXM, NSURE... i personally chose BMI because it doesn't require any form of kyc
What about insurances that will protect our funds from exploits, rugpulls and more just like INFI, BMI, NXM, CVR, HELMET. Hacks are everywhere.
I think banks and crypto can co-exist. I am beginning to see the change in few countries like US banks planning to provide bitcoin custody services. It's a good thought that you are into crypto-insurance industry as I think it's still untapped. I am investing in BMI,, NXM, Polkacover too bt never heard of shield finance?
so many ways to get scammed but so few when it comes to more safety. i hope insurance platforms like BMI and NXM will help in the future.
There was some hype about BMI a while ago. But I can see that NXM has a better price.
I agree. This makes it tough for insurers (literally any $NXM holder) to know where to risk funds. How am I supposed to know if Curve or KeeperDAO is more secure? Very challenging. Alas, the demand is there. I believe very shortly they'll be councils deciding this and that way I don't have to figure it out, I just leave it to experts and they take a small cut of the yield
On their web page says that they are only for smart contract coverage. But I must admit that NXM price is looking good.
I know NXM is removing it in coming months, and almost all new mutuals don't require KYC. DAO is the next challenge, intereted to see how it plays out with insurance long term
Their insurance is actually NXM so if you like ARMOR, you should like NXM. I too like Armor, their approach is novel and they fill a gap in the market very nicely
Hold a good amount of NXM. Looking at ARMOR, RARI, USF, Liquity, RULER
DeFi insurance isn't nation specific, you're not getting it from traditional brokers. ARMOR, BMI, NXM, USF etc all offer insurance
lol yes I own NXM because I believe it in
If you're just trying to get 10-20% then I'd look Celsius and AAVE. But also YFI for something different. NXM and ARMOR would probably give that yield as well
Most annoying thing is that many exchanges don't have average entry point. If I purchased 10 NXM at 60 and then 10 NXM at 70, it would be nice to show that my average cost / NXM is 65. Super useful, but I have to track it myself by writing down every transaction...
Get insurance through NXM. Problem solved.
NXM is undervalued but it's actually difficult to understand and takes time, so most people just overlook it. Unfortunate
Check out insurance tokens. Can apply basic value principles to it, almost as if it's a business because there really is some semblance of a balance sheet, revenues, costs (claims) and growth. For example: $NXM (I own this) $ARMOR $USF $BMI
NXM if you believe that insurance is valuable. If you don't... you and your wife's boyfriend should just ape into DOGE
Whats up with huge arbitrage possibility on WNXM?? Price is 10$ less than NXM??
I was literally about to do just this. I've seen one good one (NXM) but that really the only one I know that has good gains. This is a good thread to just get the other side of your coin. [https://www.reddit.com/r/CryptoCurrency/comments/lk2rtw/the\_ultimate\_guide\_to\_earning\_passive\_income\_with/](https://www.reddit.com/r/CryptoCurrency/comments/lk2rtw/the_ultimate_guide_to_earning_passive_income_with/)
They will be releasing a TestNet app with the integration of NXM & CoverProtocol.
Oh didn't catch that at first glance but some of the team member also creatd Nexus Mutual (NXM), which has a market cap of almost $ 500 million. Looks like they've got enough experience to make this coin actually a mid market cap/high market cap. Also Gambling/Predictions markets seem like they don't stop pumping at all, which makes me believe that PlotX actually has a bright future ahead. I truly hope they won't stop delivering big developments after the L2 implentation.
NXM seem legit but unlike BMI they require kyc. don't like that fact. what about INFI?
NXM CVR BMI and probably others as well. Depends what you want form your provider. It would be best to get to test them all
well there are some already, BMI, NXM, Nsure, Polkacover... personally, i'd choose BMI, they look really serious and already have more token hodlers than any other competitor.
These are all good picks, esp DOT and ETH... I would like to add OriginTrail (TRAC) to that list. Origin Trail is making some big steps towards real world usecases. With a marketcap of still only 128mil it's still very undervaluated. OriginTrail (TRAC) is IMHO one of the most promissing and real world projects in the Crypto space. They are working to become the supply chain protocol, have numerous partnerships with world wide operating S&P 500 companies and are one of the infrastructure projects in the Polkadot ecosystem. https://www.origintrail.club/origintrailexplained/ https://www.bsigroup.com/en-GB/about-bsi/media-centre/press-releases/2019/january/bsi-partners-with-origintrail-to-develop-blockchain-enabled-solutions/ OriginTrail is a neutral, open-source protocol enabling data sharing between companies and organizations. It utilizes decentralized nodes and an off-chain technology stack to interface with legacy systems as well as other blockchains (permissioned and permissionless). OriginTrail allows businesses to improve interoperability among systems and facilitate trusted data exchange. Trust between parties is achieved using the \*\*OriginTrail Decentralized Network (ODN),\*\* which has been up and running since December 2018. The permissionless OriginTrail Decentralized Network (ODN) relies on an off-chain technology stack consisting of several inter-related layers. At its core is a decentralized network of data providers, data creators, data holders, and data viewers. **TraceLabs** TraceLabs is the for-profit entity started by the same team that developed OriginTrail and serves as the core developers of the protocol. They are catalyzing the adoption of the OriginTrail Decentralized Network by developing custom solutions for companies. Here are some sites where you can find the most info about TRAC, the partnerships and the ODN: https://www.origintrailexplained.info/ https://origintrail.io/case-studies https://medium.com/origintrail/origintrail-2021-expanded-roadmap-accelerating-growth-through-starfleet-polkadot-and-knowledge-2a1c170daaf3 **Alpha Sigma Capital Research** ASC Research initiates coverage on two blockchain companies transforming insurance and supply chain logistics; Nexus Mutual (“NXM”) and Origin Trail (“TRAC”). ASC Research utilizes fundamental research to uncover emerging blockchain companies that are successfully building their user-base, demonstrating real-world uses for their decentralized ecosystems, and moving blockchain technology towards mass-adoption. Now expandend with Origin Trail, the portfolio of ASC has some of the most promessing blockchain companies like Polkadot, Quant, Celcius and Aave. https://alphasigma.fund/portfolio Alpha Sigma Capital Research(ASC Research) is provided by Alpha Sigma Capital Advisors, LLC, the Investment Manager for the Alpha Sigma Capital Fund, LP, an investment fund focused on blockchain companies that have successfully built a user base, demonstrating real-world uses for their decentralized ecosystems. ASC is focused on technology companies that are leveraging blockchain technology to provide value-add in areas such as fintech, AI, supply chain, and healthcare. ORIGIN TRAIL is an ecosystem dedicated to making global supply chains work together by enabling a universal, collaborative, and trusted data exchange. Alpha Sigma Capital Fund, LP holds TRAC tokens in their portfolio. Alpha Sigma Capital launched ASC Analysis in 2020 to offer basic analysis that focuses on figuring out the worth of blockchain corporations and their tokenized ecosystems based mostly on key components resembling income, adoption, administration group, and profitability,” stated Enzo Villani, CEO, Alpha Sigma Capital. https://www.cryptoexbulletin.com/2021/01/26/alpha-sigma-capital-initiates-research-coverage-on-nexus-mutual-and-origin-trail/
9k+ holders, that makes them the biggest insurance platform when it comes to that, right? They already have more holders than NXM.
NXM? There's wrapped BTC every now and chain link can linked them all. Dude these projects doesn't sound interesting at all. Smart contracts insurance and cross chain swaps has been around for awhile.
BMI, huge oversight by crypto community. They already have more tokens than NXM, Nsure or any other insurance platform. Got my initial investment a while ago. Went 25x after the IDO. I think they are the only insurance platform that doesn't require any form of KYC which makes them truly decentralized. You can insure stablecoins, centralized exchanges and smart contracts, but you can also provide insurance, it's not just about the purchase.