Announcing ETH2 Staking Cover: Comprehensive Protection Against Slashing
We are happy to announce the launch of ETH Staking Cover, the most comprehensive protection against missed rewards and penalties incurred by validators.
Since the Beacon Chain was deployed in December 2020, more than 13m ETH ($20B+) has been staked to power over 400,000 validators that secure the Ethereum network ahead of the merge. These validators work to achieve consensus and earn ETH in the process.
As the leading provider of crypto-native coverage, Nexus Mutual has seen significant demand from validator operators to develop coverage that protects against ETH staking risks. We worked with existing operators to create ETH Staking Cover, which has been tailored to provide the greatest hedge against penalties, slashing events, and missed rewards.
StakeWise, a leading validator operator and liquid-staking service provider, recently purchased ETH Staking Cover from Nexus Mutual to protect all their validators against slashing risk. They highlighted the importance of protection in their announcement:
All capital deposited and earned via StakeWise Pool is now protected against slashing and associated losses, making our protocol considerably safer to use and ensuring that the 1:1 backing of StakeWise tokens with ETH is maintained.
Nexus Mutual offers the most exhaustive ETH Staking Cover available, both on and off-chain, and is working to protect validators against penalties and slashing risk.
For more information, you can read the ETH Staking Cover wording and review the ETH Staking Cover entry in the Nexus Mutual documentation.
If you are interested in learning more about ETH Staking Cover and protecting your validators, reach out to us via email at staking@nexusmutual.io or contact us on Discord, Telegram, or Twitter.
About Nexus Mutual
Nexus Mutual is a decentralized insurance alternative built on the Ethereum blockchain. Since 2019, the mutual has enabled members to share risk and provide people with a way to hedge against the unique risks in on-chain markets.
To learn why more than 8,700 members have joined the mutual, you can review Nexus Tracker — where you’ll find up-to-date information on our capital pool andactive cover— and the Nexus Mutual dApp, where you can become a member.
