Nexus Mutual utilizes Chainlink Proof-of-Reserve to verify deposits on Maple Finance and integrates with Enzyme. Chainlink Proof of Reserve enables the reliable and timely monitoring of off-chain or cross-chain reserves using automated verification based on cryptographic truth.
The mutual is using Chainlink Proof of Reserve to track, verify, and report the price per share of interest-bearing tokens held in its Enzyme vault , which represents its deposit in lending protocol Maple Finance. Without Chainlink Proof of Reserve, its recent investment of 15,348 ETH into the Maven 11 lending pool on Maple Finance would not have been possible. Accessing Yield Through Maple Finance via Enzyme Nexus Mutual is a member-driven community where anyone can join and share risks with others. Instead of relying on a centralized insurance company, users and projects can protect themselves against smart contract and technical risks, custodial risk, and validator slashing risk. Its members own the capital pool, which holds the assets the mutual uses to underwrite coverage. The capital pool grows when members buy cover, contribute ETH in exchange for NXM, and investment earnings accrue. Through investment allocations, Nexus is maximizing its returns and preserving capital ...