Stay tuned in 2022 -there’s plenty more to come from iTrust!
2021 went by in the blink of an eye, and now it’s time to take stock of everything the project has achieved in it’s first 6 months, and look forward to all that is coming in 2022!
Working product on Day One
Delivering on our promises from day one, our revolutionary staking app https://app.itrust.finance/ was launched bang on schedule, back in June.
In the proceeding 5+ months, the platform has operated with no issues and has been battle tested with three DeFi protocol exploits, on contracts covered by Nexus Mutual, resulting in no loss of funds for our stakers.
The platform currently offers the Index Vault (spread across the majority of the risks at Nexus Mutual) and the Strategy Vault (an iTrust curated basket of ‘safer’ contracts).
In each of the three exploits that have affected covered DeFi contracts since the vaults’ creation, our Strategy Vault stakers have not have been affected by any Nexus burns, thus proving the strategy.
In one high-profile example, when the exploit of C.R.E.A.M necessitated a payout by Nexus Mutual, even iTrust users who staked in our Index Vault were not impacted as the platform covered the burned tokens.
iTrust platform stakers have enjoyed Nexus rewards as well as $IDLE, $CVX, $RARI, $BOND, $VISR, $SPELL and $WETH from shield mining campaigns.
$ITG Bonus rewards have also been distributed to stakers, increasing their APR.
Reduced $ITG Emissions
The emissions of the $ITG token to stakers has been drastically reduced since launch, reducing some of the sell pressure on our governance token. In addition the team, advisor and treasury allocations, although due after month 3, have not and will not be distributed for the foreseeable future.
As a reminder the platform offers:
· Easy staking of $NXM and $wNXM
· A choice of 2 vaults, to suit the user’s risk appetite
· Automatic reward accrual — no more lost rewards!
· Gas savings — withdraw rewards at a time that suits you.
· Nexus rewards + Shield Mining rewards + bonus $ITG rewards
· Easy unstaking and reward withdrawal
Partnering with the best in the business
We’ve been delighted at the positive feedback we’ve received from the Nexus Mutual community thus far, not least from Founder Hugh Karp during our AMA;
“Delegated staking is certainly one of the features we’ve been asked for the most since we’ve launched. It helps to connect different market participants (more passive NXM holders, with staking experts) and helps the Nexus protocol allocate stake and capacity more efficiently.” He said.
Nexus Mutual is looking to move to a V2 platform in the first half of 2022. although all the technical details are still in the design phase at Nexus, we have been proactively working on the integration to ensure that the iTrust platform will dovetail perfectly with Nexus V2.
Breakthrough iTrust.insure integration gives Hodlnaut users instant access to Nexus Mutual custody cover.
iTrust.insure’s unique integration — the first of its kind in the cryptocurrency space means that Hodlnaut users can now purchase Nexus Mutual custody cover directly from their dashboard, without ever leaving the exchange.
The integration marked a major breakthrough for the cryptocurrency industry as it breaks down multiple barriers to insurance adoption, opening the doors to a new wave of users seeking an easy way to protect their assets.
You can read more about the iTrust.insure integration here.
Since the initial launch and following feedback from the Hodlnaut community, further features have been built such including; an option to pay in DAI, user account management, reminder emails for cover expiry.
The iTrust.insure integration will form an important part of our 2022 plans as we onboard more exchanges and platforms — allowing their users to purchase Nexus cover without leaving their platform or becoming a Nexus member and undergoing KYC etc.
Community Building and Competitions
We understand that community and credibility is at the heart of any successful project and we continue to focus in this area. Highlights so far have been:
· Working with Good.fi to educate users around DeFi, with iTrust specifically focussing on the insurance education
· Speaking at the DeFi live conference alongside other insurance experts
· The recent launch of ‘The Admiral’ a regular informational newsletter covering DeFi and insurance
· Our popular Treasure Hunt Competition, highlighting the treasures holders can unlock with their $ITG.
· Launching our cross-DeFi Fantasy Football league, in partnership with InsureAce, Finance.vote, Totem.Fi, Apeswap,Wault, Rarestone Capital and Bumper.fi.
· We are currently recruiting for community ambassadors, via our Ship Captains campaign. Click here to apply to earn up to $1000 per month in bounties!
What’s next?
The building never stops at iTrust, and there is plenty to look forward to in 2022 including:
- An integration with a new insurer, which will allow us to offer staking pools with two insurers on the iTrust App. Expect an official announcement in Q1 with launch scheduled for Q2
- Refactor code where required to allow integration with Nexus V2
- Continuing growth in the exchange insurance distribution channel (itrust.insure) by onboarding new platforms
- Blue Lagoon staking pool II to launch in January
- Opening further staking and LP pools
- Launch of our prediction markets
- Continued community growth through initiatives like ‘The Admiral’, twitter spaces chats, educational articles and further marketing.
We’d like to thank you for your support so far, and look forward to continued growth in 2022.
About iTrust.finance
iTrust.finance seeks to improve efficiency and usability in the DeFi Market. Maximising cover capacity and accruing token rewards for stakers in the DAO; increasing the overall market value of the underlying insurance protocol.
On launch, iTrust’s unique application will offer a host of yield-maximising staking options for Nexus Mutual ($NXM) holders and crucially, wrapped Nexus Mutual ($wNXM) token holders alike. With other insurance protocols to follow.
Website: https://www.itrust.finance
Telegram: https://t.me/iTrustCommunity
Telegram Announcements: https://t.me/iTrustOfficialAnnouncements
Discord: https://discord.com/invite/7WS4CsmUpy
Twitter: https://twitter.com/iTrustFinance
