Goldfinch protocol partners with Nexus Mutual to offer smart contract insurance to Senior Pool LPs and Backers

Goldfinch is the most recent DeFi protocol covered by Nexus Mutual, a premium DeFi coverage provider. Senior Pool Liquidity Providers and Backers will now have the option of purchasing cover for USDC properly deployed in any of Goldfinch’s smart contracts.

Security is a top priority of the Goldfinch community. Previously, the Goldfinch protocol has been audited by Certik (see audit results). Goldfinch is now working with both Certik and and Trail of Bits on audits, and recently announced the launch of a Bug Bounty program in partnership with Immune.fi (click here for more details). The new partnership with Nexus Mutual will offer an additional layer of security for Liquidity Providers and Backers in the protocol.

How to Participate in Nexus Mutual coverage:

1. Buy coverage: Protocol participants who have USDC deployed on Goldfinch can buy coverage through Nexus Mutual to get reimbursed for a potential loss of funds due to smart contract issues. Smart contracts covered include but are not limited to both the Senior Pool and individual Borrower Pools. Please note that coverage does not extend to any issues with credit risk i.e. a Borrower is unable to repay. More details on how to get access to coverage: https://www.notion.so/goldfinchfinance/Nexus-Mutual-How-to-buy-coverage-3a349dde97794304942854a1c3f2a51c.
2. Provide coverage: Earn income by providing cover for buyers through staking NXM tokens and receiving the coverage premium as yield. The protocol has committed 50,000 USDC as a reward for early NXM Stakers. Learn more about how to stake on Goldfinch here: https://app.nexusmutual.io/staking.