Popular DeFi Apps Launches in Neptune Mutual dApp

We are delighted to announce that one of our partners will create and finance initial liquidity for a new diversified cover pool: “Popular DeFi Apps”. Projects to be included in the pool’s portfolio include: 1Inch, Sushiswap, Compound, Uniswap V3, Convex Finance, GMX, dYdX, AAVE V3 and Bancor.

The combination of these projects have a TVL in excess of 8.6 billion USD at the time of writing. This compares with the 277 million USD of TVL in the DeFi Insurance category, underlining the extent to which digital assets remain uninsured and the extent to which DeFi insurance needs to scale for users to have a better protection of their investments. The Popular DeFi Apps pool represents an investment opportunity for stablecoin investors; you can find out more about funding cover pools in our articles about Bootstrapping Cover Pool Liquidity, and Understanding Underwriting Capital. To date, liquidity providers (LPs), have funded cover pools in the Neptune Mutual marketplace with in excess of 200K USD of capital, and this is expected to grow significantly over the course of 2023 - you can track the progress of TVL in DeFillama.

As with the Prime dApps diversified cover pool, a moderate level of leverage will be allowed to improve capital efficiency for better LP returns, given not all projects in the pool are expected to have incidents at the same time. Keep an eye out for the diversified pool leverage number in the Popular DeFi Apps card (the Prime dApps card shows D6 - that refers to Diversified and max 6x leverage).

We will be sharing more information about each of the respective cover products within the Prime dApps portfolio over the coming weeks, however these are all projects that are well recognised with significant amounts of TVL and/or transactions on a daily basis and are well known to the DeFi community. We recommend users to take the opportunity to purchase covers in the promotional period where the premium fees are attractive compared to other platforms.

We are open to answering questions to the communities of 1Inch, Sushiswap, Compound, Uniswap V3, Convex Finance, GMX, dYdX, AAVE V3 and Bancor. If you would like us to do an AMA session in one of these communities then please reach out to the respective community managers and ask them to invite us to explain how these cover policies can help build confidence in these projects by providing added protection against security risk.

The cover cards for these projects will go live when the diversified cover pool is launched on Friday the 20th January.

If you have any questions regarding the use of the cover marketplace dApp then you can contact us in Discord or Telegram and we are here to help.

About Us#

We published our annual report about our activity and progress in 2022, and if you scroll down to the About Us section in our new website you will find our roadmap for 2023. As you will see we have just hit our first milestone of the year, and you will also see there is much more to come.

Neptune Mutual project safeguards the Ethereum community from cyber threats. The protocol uses parametric cover as opposed to discretionary insurance. It has an easy and reliable on-chain claim process. This means that when incidents are confirmed by our community, resolution is fast.

Join us in our mission to cover, protect, and secure on-chain digital assets.