("KR1" or the "Company")
Portfolio Update: Nexus Mutual
Nexus Mutual is recreating the mutual insurance company model on a global scale, bringing people together to share risk, without the need for an insurance company. Built on Ethereum, the NXM project currently offers cover for an array of popular smart contracts and is becoming a crucially important element in the rapidly expanding Ethereum DeFi (“Decentralised Finance”) ecosystem.
Over the last few months, Nexus has seen surging demand, and has now written over USD
The NXM token is priced through a formula that takes into account important parameters relating to the underlying capital pool and performance of the mutual, which maintains capital efficiency and guarantees the highest standards of solvency. Due to a rapid influx of funds that resulted in excess capital in Nexus’ pool, the NXM price spiked to levels that strongly encouraged redemptions.
KR1 continues to hold more than three quarters of its initial Nexus position and intends to potentially repurchase some NXM tokens, after the pricing and capital pool dynamics return to normal levels.
“We’re delighted to have successfully backed another major
The special talent and background of Nexus Mutual’s founder,
Ethereum has given birth to this new era of disruptive composable financial applications and we have been a major early investor in ground-breaking projects including Acala, Argent, Melon, Union and Vega Protocol, to name a few. In stark contrast to the low level of developer activity on Bitcoin, the burgeoning
For further information please contact:
KR1 PLC George McDonaugh+44 (0)16 2467 6716 Keld van Schreven Simon Nicolsimon@KR1.io Peterhouse Capital Limited(AQSE Corporate Adviser) Mark Anwyl+44 (0)20 7469 0930 Allie Feuerlein Nominis Advisory Ltd(PR Adviser) Angus Campbellpr@KR1.io
KR1 is a leading digital asset investment company supporting early-stage decentralised and open-source blockchain projects. Founded in 2016 and publicly traded in
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