In 2021, Nexus Mutual launched Protocol Cover, an updated version of our flagship Smart Contract Cover. Protocol Cover is designed to provide protection against the biggest risks in DeFi, including smart contract hacks/exploits, oracle manipulation/failure, severe liquidation failure, and governance attacks. Many of our members have asked for a cover product that protects crypto assets against these risks across multiple protocols.
Today, we're excited to announce the launch of Bundled Protocol Cover, which provides the comprehensive protections included in our standard Protocol Cover wording but now extends those protections to multiple protocols under a single listing.
After analysing past requests for bundled cover products and historic cover sales, the Product and Risk team decided on these initial six (6) listings for the Bundled Protocol Cover launch.
You can find the Bundled Protocol Cover listings in the Nexus Mutual user interface (UI) on the Browse Cover page. Just toggle the "Only show bundled products" menu and you'll see all of the above listings in the UI.
When you deposit into one of these protocols such as a Beefy Finance vault, your crypto assets are exposed to smart contract risk and other technical and economic risks across multiple protocols. Instead of having to buy multiple covers, you can buy one Bundled Protocol Cover to save on gas costs and protect your deposit against the full stack of risk.
Now it's easier than ever to protect yourself against the biggest risks in DeFi with a single Bundled Protocol Cover.
For more information about Bundled Protocol Cover's protections, read the complete wording.
Together, Nexus Mutual members share risk and offer protection to people who want to cover themselves against smart contract, ETH slashing, and other risks.
To date, our members have paid over $18m in claims to those who have suffered a loss due to past exploits, technical failures, and halted withdrawals on centralised custodians.
With Bundled Protocol Cover, the Mutual can enhance our product offerings and provide the most comprehensive insurance alternative available to protect DeFi users against smart contract and economic risks.
Explore the Bundled Protocol Cover listings in the Nexus Mutual UI.
Have questions about Bundled Protocol Cover or want to request a new Bundled Protocol Cover listing? Join us in the Nexus Mutual Discord server and ask your questions in the Ask the Community channel.
Follow Nexus Mutual on Twitter / X and Farcaster for updates on new Bundled Protocol Cover listings and co-marketing announcements.
