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Get insurance against smart contract bugs.

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created by Keep Network discord user eldoramix#2809

Disclosure: I own KEEP tokens and have provided NXM tokens as collateral for the TBTC smart contract.

Nexus Mutual provides onchain insurance against smart contract bugs.

Being able to take out insurance helps to reduce the risk for 3rd parties to adopt new projects. For example:

  • If a traditional centralised exchange wants to list TBTC they can take out an insurance policy with Nexus. This would reduce their risk in listing a new asset.
  • If you want to yield farm with TBTC you can reduce your risk with an insurance policy.

Nexus token holders choose which projects they want to provide insurance for. In return they receive a share of the fees paid for the insurance cover. …


Blockchains are incentive machines

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image source

Keep Network conducted industrial staker sales in 2017 (including Andreessen Horowitz) and 2019 (led by Paradigm)

“Bitcoin is the world’s largest cryptocurrency. Building a bridge that allows Bitcoin to interact with DeFi makes a lot of sense, and tBTC is a credible attempt to do exactly that.”
Fred Ehrsam (Paradigm co-founder, who also co-founded Coinbase)

Coinbase announced in April 2020 that they are providing asset support for Keep Network through Coinbase custody and staking infrastructure.

Tech is cool but utility is King

The Random Beacon was the first application built on the Keep Network, it provides truely random number generation to Ethereum smart contracts. …


Step by step instructions with screenshots.

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Photo by Thought Catalog on Unsplash

If you are Playing for Keeps you need to run a node on testnet.

This guide makes no assumptions about your experience using dapps or MetaMask. I have taken lots of screenshots along the way to make it easy to follow.

Everything being equal this guide should take about one hour to complete.

Steps

  1. Create a keystore file
  2. Install Metamask
  3. Get ETH
  4. Get Tokens
  5. Delegate Tokens
  6. Authorize Contracts
  7. Bond ETH for tBTC
  8. Create Infura account
  9. Setup Node

Ok lets go.

1. Create a wallet by keystore file

We use this on the node.

Note

  1. While you can create a wallet using MetaMask you cant export a keystore file from MetaMask. …

About

Ben Longstaff

Playing at the intersection of privacy and personalisation. Fascinated by the state of trust in a world with leaky data.

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