Episode: #31
September 21, 2020
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Nexus Mutual to Billions | Hugh Karp
Hugh Karp is the founder of Nexus Mutual, a DeFi insurance protocol
Nexus Mutual has $80M ETH covering over $240 worth of DeFi insurance, up from $8M last July. Nexus has paid out millions in insurance claims to previous DeFi hacks, and is one of the fastest-growing protocols in DeFi.
Hugh comes from the world of insurance and worked as an actuary before moving into crypto. He brings his real-world insurance knowledge to the DeFi universe through Nexus Mutual, a reconstruction of real-world insurance mechanisms, but built on Ethereum.
Nexus Mutual has over $80M in assets deposited into the Nexus contracts, up from just $8M in July 2020. This $80M is the backstop for $240M of cover purchased by Nexus customers.
Join us as we go through the history of Nexus Mutual, the NXM token, and the future road map with founder Hugh Karp!
WE COVER:
1) Current state of DeFi insurance / safety
2) Benefits of smart-contract based insurance
3) Quick history of insurance
4) Building Nexus
5) Integrating NXM
6) NXM Bonding Curve
7) Future vision of Nexus
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Resources:
Read: How to assess the risks of a lending protocol?
https://bankless.substack.com/p/how-to-assess-the-risk-of-lending
Read: how to protect against hacks with Nexus
https://bankless.substack.com/p/how-to-protect-against-hacks-with
Nexus Metrics Tracker: https://nexustracker.io/
DeFi Dad Explainer Video: https://www.youtube.com/watch?v=rnzInsKPLR0
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Not financial or tax advice. This podcast is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Do your own research.