Projects included in the pool’s portfolio include: 1Inch, Sushiswap, Compound, Uniswap V3, Convex Finance, GMX, dYdX, AAVE V3 and Bancor.
WINCHESTER, HAMPSHIRE, UNITED KINGDOM, January 23, 2023 /EINPresswire.com/ — Neptune Mutual has released a press announcement in relation to the launch of a diversified cover pool called “Popular DeFi Apps” that is now live in Neptune Mutual’s cover marketplace.
The combination of the projects in the Popular DeFi Apps portfolio have a TVL in excess of 8.6 billion USD at the time of writing. This compares with the 316 million USD of TVL of the whole 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 better protection of their investments.
The Popular DeFi Apps pool represents an investment opportunity for stablecoin investors. Neptune Mutual regularly publishes articles in its blog to inform its community and about opportunities to fund cover pools: Bootstrapping Centralized 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 300K USD of capital, and this is expected to grow significantly over the course of 2023. The progress of Neptune Mutual’s TVL can be tracked in DeFillama.
As with the Prime dApps diversified cover pool, the cover creator has used a moderate level of leverage to improve capital efficiency for better LP returns, given not all projects in the pool are expected to have incidents at the same time. The diversified pool leverage is indicated in the Popular DeFi Apps card (the Prime dApps card shows D6 – that refers to “Diversified” and “maximum 6x leverage”).
Neptune Mutual will be sharing more information about each of the respective cover products within the Popular DeFi Apps portfolio over the coming weeks; 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.
Neptune Mutual recommends users to take the opportunity to purchase covers in the promotional period where the premium fees are attractive compared to other platforms.
Neptune Mutual is open to respond to questions directly from the communities of 1Inch, Sushiswap, Compound, Uniswap V3, Convex Finance, GMX, dYdX, AAVE V3 and Bancor, and encourages users to reach out to the community managers of these projects to invite Neptune Mutual to do an AMA in their own channels.
About Neptune Mutual
Neptune Mutual published its annual report about its activity and progress in 2022, and in the About Us section of its new website it has a roadmap of the milestones planned for 2023.
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.