This week I sat down with the team from Neptune Mutual, a crypto insurance provider, to learn more about them and protect against risk in the crypto market. 2022 has seen many billions lost in hacks, making the case for insurance very clear. By the way, Neptune is one of my portfolio companies, you can read my full disclosure statement here.
Neptune recently launched on Ethereum's mainnet, how did that go?
The deployment went off without a hitch. We are attempting to spread the word around with the help of all of our partners about how unique our approach is and the benefits it can provide to both cover purchasers and liquidity providers.
Ultimately, we are pleased that our solution is now operational and gives users the ability to safeguard their digital assets in a manner that enables an immediate and reliable resolution in the case of a smart contract breach.
Activity wise, it has been relatively quiet given what has happened the past week with all eyes on FTX & Alameda.
What apps are currently covered, and how much does insurance cost?
The Prime dApps Diversified Cover Pool will offer 7 different cover products to cover purchasers, and will offer leveraged returns to liquidity providers. The cover products currently available include: Aave, Balancer, Curve, Gnosis Safe, Uniswap, MakerDAO, and Synthetix. This is just a start. We expect cover creators to add more cover products to our marketplace.