ether.fi, the leading onchain neobank for digital asset management, has selected Nexus Mutual to provide crypto’s largest-ever ETH Slashing Cover.
The cover protects ether.fi‘s validators against up to 15,000 ETH worth of slashing penalties.
As ether.fi continues to see rapid adoption from both retail and institutional audiences, securing industry-leading protection against slashing risk for ether.fi users is critical. Over the last year, ether.fi has been systematically strengthening their stack across infrastructure, risk management, operational security and real-time defense systems.
Since ether.fi operates one of the largest validator sets on Ethereum, slashing is a real tail risk for them. By working with Nexus Mutual, ether.fi has mitigated this with protection that kicks in to secure against validator losses. This cover was calculated to protect ether.fi in even the most extreme scenarios and represents more than all historical losses from ETH slashing combined.
“We’ve always believed the safest protocols will ultimately win. That’s why we’ve invested heavily in audits, operational security, staking architecture, and now the largest insurance program in the industry. We are excited to partner with Nexus Mutual to make this a reality,” said Mike Silagadze, Founder & CEO of ether.fi.“We’ve known the ether.fi team since before it was ether.fi, and they’ve been focused on risk from day one. Covering their users for up to 15,000 ETH in slashing penalties is a historic step, and we’re proud they chose Nexus Mutual to take it with them,” said Hugh Karp, Founder of Nexus Mutual.
About ether.fi
ether.fi is the leading onchain neobank for digital asset management. With $6B+ in AUM across Cash (crypto card), Stake (restaking), and Liquid (liquid restaking derivatives), ether.fi has established category dominance in crypto neobanking. It’s the rare institutional-grade product built for consumer adoption.
About Nexus Mutual
Nexus Mutual is the first crypto insurance alternative. Since 2019, they have covered more than $7 billion against smart contract hacks, slashing, and other digital asset risks. As the industry leader, they have become a trusted partner for everyone from individuals to institutions to help manage onchain risk.
Contact Head of Marketing
Phil Johnston
Nexus Mutual
[email protected]
Upbit přidá Metaplex (MPLX) do obchodních párů s BTC a USDT a Nexus (NEX) na trh USDT. Obchodování začne 3. července, vklady a výběry už dvě hodiny po oznámení.
Upbit will add Metaplex (MPLX) for BTC and USDT pairs and Nexus (NEX) for a USDT pair on July 3. Metaplex assists in creating infrastructure for digital assets based on the Solana blockchain, and Nexus builds a Layer 1 blockchain. Upbit, South Korea’s largest cryptocurrency exchange platform, announced the listing of Metaplex (MPLX) and Nexus (NEX). MPLX will be available to trade with BTC and USDT trading pairs on the Solana blockchain platform. NEX will be listed in the USDT market on the Ethereum network. Deposits and withdrawals will start two hours from the time of the announcement.
Scheduled Launch of MPLX and NEX Upbit has announced that MPLX will begin trading at 3:00 PM local time on July 3. Trading for NEX will be launched by the exchange at 6:00 PM local time on July 3. The users have been asked to ensure that deposits happen only through the supported blockchain networks, as deposits made via unsupported networks will not be credited. Upbit has also mentioned that insufficient liquidity may lead to delayed trading due to unfavorable market conditions.
The platform implemented temporary trading restrictions to ensure smooth market operations after listing these two cryptocurrencies. Upbit has put a restriction on buying orders in the first five minutes after trading. All orders, except limit orders, will not be available for 2 hours after listing. Upbit has put a restriction on selling orders that are at least 10% below the previous close price.
Metaplex and Nexus Extend Their Infrastructure Services Metaplex is an infrastructure protocol for digital assets with NFT support, token minting, metadata handling, and mass asset creation in the Solana and Solana Virtual Machine blockchain networks. This protocol allows the standardization of metadata of the assets along with NFT collections, compressed NFTs, and token drops using various ecosystem services. Metaplex also unveiled Agent Registry and Agent Tokens, extending the infrastructure of Metaplex in the direction of on-chain identity registration and token creation. MPLX tokens allow participating in governance, managing treasuries, and certain ecosystem services in the Metaplex DAO.
Nexus builds a Layer 1 blockchain by incorporating verifiable computation capabilities with finance use cases. This network leverages Cosmos SDK, CometBFT, and Ethereum-based smart contracts together with Nexus zkVM for the verification of computing resources from outside the chain. Nexus is also going to extend its ecosystem via Nexus Exchange and the USDX settlement ecosystem. The NEX tokens act as the native gas tokens of the network while staking and compensating computation providers. Upbit also advised users that their deposits should be in compliance with the Travel Rule.
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Re spustila na Avalanche svůj první otevřený fond tokenizovaného zajištění, přičemž do něj Nexus Mutual alokovala 15 mil. USD. Fond cílí na konzervativní pojištění a nabízí až 23% roční výnos.
Updated May 14, 2024, 5:24 p.m. Published May 14, 2024, 1:00 p.m.
2 min read
Karn Saroya, CEO of Re (Re)The new fund backs low-volatility insurances covering properties, trucking, aviation and workers compensation, excluding catastrophic risks at the start, Re CEO Karn Saroya said in an interview.Re targets to back $200 million in insurance premiums by the end of the year, with another $3 billion in the pipeline.The firm also raised $7 million in a venture capital investment round led by Electric Capital.Re, a real-world asset (RWA) platform specializing in offering tokenized reinsurance, said Tuesday it has opened its first open-ended reinsurance fund using the Avalanche {{AVAX}} network.
First investors of the fund include Nexus Mutual, a crypto insurance alternative provider, with a $15 million allocation and the RWA-focused Vista fund of Ava Labs, an ecosystem developer organization of Avalanche, with a smaller deposit.
The company also raised $7 million in venture capital in its latest fundraising round led by Electric Capital, following a $14 million seed round in late 2022.
Re, which is regulated in the Cayman Islands, focuses on introducing blockchain tech for a traditionally opaque, conservative industry and aims to be a decentralized version of Lloyd's of London, though of as the premier marketplace for insurance.
Reinsurance companies offer protection for insurance firms, collecting premiums to cover certain types of risks. With nearly $1 trillion in premiums annually, reinsurance is a cornerstone of today's financial markets and commerce, Karn Saroya, chief executive officer of Re said in an interview with CoinDesk.
"Reinsurance is the ocean, and insurance companies are the boats floating on the water,” he said.
Bringing these assets to blockchain rails can improve settlements, operational efficiency and create greater transparency of capital reserves, Saroya explained. This is in line with the red-hot tokenization trend, with digital asset firms and global financial institutions such as BlackRock, Citi and Franklin Templeton creating digital versions of old-school investments – often referred to as RWAs – to trade them on blockchains for operational benefits.
Read more: Why Asset Tokenization Is Inevitable
In the beginning, Re's new fund backs more conservative, low-volatility insurances such as property, trucking, aviation and workers compensation, excluding catastrophic risks, Karoya said.
The fund targets to offer up to 23% annualized yield to investors, and is accessible to U.S. accredited investors and any investors outside the U.S. who complete Re's know-your-customer (KYC) process. The minimum lock-up period for deposits is one year, and funds are available for redemptions as collateral is released from the insurance companies.
Investing in the fund is similar to high-yield fixed income, Saroya said, making it attractive to decentralized autonomous organizations (DAO) and ecosystem funds to deploy capital.
OpenCover, Request Finance a Nexus Mutual spustily první blockchainové Transaction Cover. Vybrané transakce na Request Finance jsou nově kryté až do 100 000 USD.
[PRESS RELEASE – London, United Kingdom, September 18th, 2024]
The collaboration sets a new standard in decentralized finance (DeFi) by shifting blockchain transaction risk away from end users for the first time.
OpenCover, a leading platform for blockchain insurance and insurance alternatives backed by Coinbase Venture’s Base Ecosystem Fund, NFX, Jump, Alliance, Village Global and Orange DAO is announcing a strategic partnership with Request Finance and Nexus Mutual. This collaboration marks a historic milestone in decentralized finance (DeFi), offering unparalleled protection for blockchain users across multiple blockchain ecosystems including Ethereum, Arbitrum, Polygon, BNB, Optimism and Avalanche.
For the first time, eligible transactions on Request Finance are covered up to $100,000. This protects end-users from the main technical, economic, and security risks inherent to blockchain transactions, making onchain finance safer and matching transaction guarantees on traditional financial infrastructure.
Traditionally, the “your keys, your coins” mantra placed the full burden of blockchain risk — such as oracle price feed errors, smart contract bugs and stablecoins losing their peg — directly on the end-user.
OpenCover’s new Transaction Cover, underwritten by Nexus Mutual, transfers the risk of failure or unforeseen blockchain transaction outcomes away from the end-user. Users now benefit from the same transaction guarantees typically seen in traditional finance but with the advantages of faster settlement times, full transparency, and significantly lower fees attained by using blockchain rails.
“For decentralized finance to become a credible extension to traditional finance, blockchain transactions need to be as safe as they are efficient,” said Jeremiah Smith, Co-Founder and CEO of OpenCover. “This unique partnership with Request Finance and Nexus Mutual sets a new standard, allowing blockchain users to fully embrace self-custody and onchain finance without the downside of transaction risk.”
This collaboration not only strengthens OpenCover’s mission to promote blockchain safety but also aligns with the wider movement toward mainstream blockchain adoption. By abstracting transaction risk from end-users, OpenCover, Request Finance, and Nexus Mutual are bringing blockchain payments to parity with the protections that have long been standard in traditional financial systems.
About OpenCover (https://opencover.com)
Founded by Y Combinator alumni Jeremiah Smith and Yury Oparin, OpenCover works with top-tier underwriters to provide individuals and institutions protection against onchain risks, including transaction and protocol risk.
About Request Finance (https://request.finance)
Request Finance is a comprehensive invoicing, payment, and accounting platform for Web2 and Web3 businesses. By simplifying payments in both crypto and fiat currencies, Request Finance is helping businesses embrace decentralized finance while ensuring transparency and efficiency. Request has processed over $800 million in transactions since 2020.
About Nexus Mutual (https://nexusmutual.io/)
Nexus Mutual is the leading crypto insurance alternative for protocol and other blockchain risks. The mutual has underwritten close to $5 billion in risk since being established in 2019.
Babylon Labs a Nexus Mutual spojily síly, aby chránily stakovaný bitcoin ($BTC) před slashingem. Cílí na vlastní pojistnou ochranu pro stakery i instituce.
From a speculative asset to a foundational element, Bitcoin ($BTC) continuously grows in terms of decentralized finance. This continuous evolution urges Babylon Labs and Nexus Mutual to join their efforts to safeguard billions of dollars in staked Bitcoin ($BTC). They aim to protect staked Bitcoin with a product that pioneers slashing protection. Bitcoin ($BTC) has now become a crucial part of financial systems worldwide. So, this alliance strives to provide crypto holders peace of mind, resilience, and trust while participating in staking.
Babylon Labs and Nexus to Reinforce Bitcoin ($BTC) Staking Security Babylon Bitcoin staking protocol holds billions of dollars to protect comparatively imperative assets. Nexus Mutual is renowned as a leader in crypto-based insurance alternatives. The platform now aims to create a bespoke slashing protection protocol. Babylon’s users can directly approach this product, so Babylon Labs plays a significant role in this process. The lab stays ahead in the development of the product, providing technical insights while facilitating connections with potential users.
Nexus Mutual was established in 2019, underwriting more than $5.5 billion in the coverage of digital assets. The platform offered $BTC-denominated insurance products at first. Its collaboration with Babylon Labs aims to strengthen the missions of both firms. Babylon Labs continues to unveil Bitcoin ($BTC) utility by providing secure staking solutions. On the other hand, Nexus Mutual leads in crypto-risk innovations.
The Partnership Provides Custom Coverage for a Decentralized Future Through this partnership, Nexus Mutual and Babylon aim to explore expanded Bitcoin Secured Networks (BSNs). This advancement enables customizable protection, improving liquidity and user confidence. Nexus Mutual’s coverage products strive to meet the demands, ranging from individuals staking their Bitcoins to institutions participating at scale.
The Head of Business Development at Babylon Labs, Clayton Menzel, states, “We’re excited about Nexus Mutual’s upcoming slashing protection product and what it could mean for Bitcoin stakers.” He further says, “This collaboration supports our mission of unlocking Bitcoin to secure the decentralized economy.”
The Founder of Nexus Mutual, Hugh Karp, emphasized the statement, stating, “Bitcoin is now a crucial part of the global financial system, and we’re excited to work with Babylon Labs to offer new ways to protect and leverage this digital asset.”
The alliance between Nexus Mutual and Babylon Labs is a significant step towards creating a more scalable and secure environment for Bitcoin staking. This environment will merge the reliability of insurance with decentralized capabilities.
AUTHOR
Crypto journalist with years of experience providing in-depth analysis and news on blockchain and decentralized finance. With a keen eye for detail, Shahzaib delivers insightful articles that explore the latest trends, market movements, and innovations within the crypto and blockchain ecosystem. His work focuses on educating readers while offering expert commentary on the evolving landscape of digital assets, DeFi protocols, and the broader impact of blockchain technology.
Nexus Mutual vyplatila 250 000 USD uživatelům zasaženým hackem Arcadia Finance za 3,5 milionu USD. Jde o jedno z prvních velkých pojistných plnění na Base.
Nexus Mutual has transferred $250,000 to reimburse users caught in Arcadia Finance’s $3.5 million exploit, marking one of Base blockchain’s first major insurance settlements. The payout arrives as Arcadia’s own recovery plan remains weeks from implementation.
Summary
Nexus Mutual paid $250,000 to victims of Arcadia Finance’s $3.5 million hack, marking one of Base chain’s first major insurance settlements. The payout offers early restitution ahead of Arcadia’s own delayed recovery plan based on “Recovery Tokens.” On August 4, crypto insurance alternative Nexus Mutual announced it had paid out $250,000 to users impacted by the July 15 Arcadia Finance exploit on Base, where attackers drained $3.5 million in stablecoins through a contract vulnerability.
The smart contract bug allowed funds to be siphoned directly from user accounts, with stolen assets swiftly laundered into wrapped Ether. Nexus Mutual began processing claims in late July after a standard cooldown period, ultimately honoring coverage for eligible users who had purchased protection through OpenCover, a Base-native distributor.
A turning point for DeFi risk mitigation? The Arcadia Finance payout signals a deeper shift in the way decentralized finance is starting to confront its most systemic weakness: the lack of credible recourse when things go wrong. Nexus Mutual has now paid out over $18.2 million across 37 incidents since 2019, according to its public claims dashboard.
The Arcadia settlement joins a roster of landmark payouts including $5 million for the 2022 TribeDAO hack, $2.3 million for Euler Finance’s $197 million exploit, and nearly $5 million when FTX collapsed. These aren’t abstract numbers; they trace the evolution of crypto’s risk management infrastructure through its most chaotic years.
While smaller than other settlements, the Arcadia payout is symbolic. Its timing matters: this is one of the earliest high-profile insurance resolutions on Base, Coinbase’s Layer 2 chain, which has only recently started to see sustained DeFi activity. For affected users, the payout served as a crucial stopgap in the absence of protocol-native compensation, arriving before Arcadia itself was able to mobilize a full recovery plan.
Meanwhile, Arcadia Finance has charted a different course with its Recovery Token (RT) system, a complex mechanism where victims receive USDC-pegged tokens redeemable through staking, fee rebates, or secondary market sales.
Though innovative in its attempt to align incentives, the plan requires users to maintain long-term engagement with the protocol. Some may prefer Nexus Mutual’s straightforward ETH transfers, which impose no lockups or behavioral conditions.
Nexus Mutual integroval Symbiotic a vytvořil výnosovou zajišťovací vrstvu pro krytí DeFi rizik. Kapitál nyní může současně zajišťovat PoS sítě i underwriting coveru Nexus Mutual.
Updated Dec 11, 2025, 1:28 p.m. Published Nov 19, 2025, 6:32 a.m.
2 min read
Inside the Lloyd's of London insurance market. (Lloyd's of London)Summary
Capital allocated via Symbiotic can now secure traditional proof-of-stake (PoS) networks while simultaneously underwriting Nexus coverage.The partnership addresses a structural gap in DeFi risk coverage: the lack of scalable and transparent reinsurance infrastructure.Decentralized insurance protocol Nexus Mutual, has integrated with underwriting and capital efficiency protocol Symbiotic to create a yield-generating reinsurance layer to underwrite decentralized finance risks.
The collaboration with Symbiotic introduces a new class of underwriting vaults aligned with Nexus cover durations, enabling real-time capital reallocation and fast claim settlement, according to a press release on Wednesday.
Capital allocated via Symbiotic can now secure traditional proof-of-stake (PoS) networks while simultaneously underwriting Nexus coverage, helping scale the alternative insurance cover provider without introducing centralization or inefficiencies typical of legacy models, the release said.
“For years, onchain risk markets have struggled to scale because capital was fragmented across isolated pools,” said Misha Putiatin, co-founder of Symbiotic. “By introducing composable underwriting infrastructure, we’re unlocking scalable, permissionless risk markets where capital can finally work across multiple layers of the ecosystem. This isn’t just an improvement in efficiency, it's something that can finally get us to scale”
Nexus Mutual seeks to address the dire shortage of insurance capacity within the crypto industry by allowing members to deploy assets into syndicates, in a way similar to how the Lloyd’s of London market operates, for which they receive NXM tokens. These tokens are then used to back certain risks in return for yields which can reach around 25%, according to Nexus Mutual founder Hugh Karp.
The partnership addresses a structural gap in DeFi risk coverage: the lack of scalable and transparent reinsurance infrastructure. For Nexus Mutual, it opens doors to additional underwriting demand, allowing the protocol to expand coverage across protocols and asset classes without raising idle reserves.
“As there continues to be greater institutional adoption of DeFi, investors have been asking Nexus Mutual to cover risks at an even larger scale,” said Hugh Karp, Founder of Nexus Mutual. “By working with Symbiotic, we’re making sure our onchain cover solutions can fit the needs of any institutional investor or protocol.”
