PANews reported on October 29 that according to CoinDesk, the decentralized insurance platform Nexus Mutual supports the new crypto insurance broker Native, which has received $2.6 million in seed round financing led by Nexus Mutual. Native will provide $20 million in on-chain insurance for each risk and run a capital pool on Nexus Mutual to increase the industry's insurance capacity. Native CEO Ben Davies said the move is aimed at addressing the long-standing problem of insufficient insurance in the crypto industry and driving growth in the sector.
In addition, Nexus Mutual has also launched an insurance product called Base DeFi Pass, which provides unified coverage for mainstream protocols including Uniswap, Compound and Morpho through Coinbase's second-layer network Base. The product was developed by OpenCover and covers risks such as smart contract vulnerabilities and hacker attacks. OpenCover CEO Jeremiah Smith pointed out that Base DeFi Pass simplifies the insurance purchase process and is suitable for users' "set and forget" insurance needs.
