Investing in a volatile market is what we all have agreed on when putting our first dime in crypto — this however does not mean that we’re risk junkies.
Nested intends to democratize crypto investment through several channels, one of them being high safety standards so that newcomers can feel reassured.
Our strategy to reach that end is threefold:
- Providing an audit-tested platform that puts our solution to the task and enables us to fill in any crack.
- Establishing a multi-sig wallet controlled by Ledger hardware devices to monitor our smart contracts and, as an extra layer.
- Insuring our Total Value Locked [TVL] so that in the event of an issue, we keep our users’ investment safe and sound.
Nested has chosen Nexus Mutual to insure smart contracts’ failures and hack risks. We decided to protect our TVL for up to $5 million.
We will re-evaluate the amount of TVL to insure on the 7th of each month. As long as it does not exceed $5M, we will cover the insurance cost for our users.
Please refer to the insurance’s terms to find out what is included and what isn’t: https://nexusmutual.io/pages/ProtocolCoverv1.0.pdf.
To be noted: in the event of a claim, we cannot be sure to get a refund. It will depend on the quorum approval.
Nexus Mutual is a decentralized insurance platform where you can cover a given protocol against smart contract failures and hacks.
Considering that Decentralized Finance [DeFi] technology lies on the solidity of the smart contracts that govern it, vulnerabilities are a real risk for DeFi users. Nexus is a pioneer in its field and there is no doubt that their experience will benefit Nested users.
Nested users may rest safe knowing that we put their interests front and center in our development and that we will stop at nothing to ensure proper fund safety.
Users can also reduce insurance’s costs if they meticulously follow Nexus step-by-step explanation as stated below.
Nothing prevents our users from seeking insurance by themselves of course.
At the time of this writing, we have insured $1M worth of our TVL — 10% more than what we have.
We will revaluate next month and proceed to frequent re-evaluation.