Euler Finance: Protocol Cover Now Available on Nexus Mutual

Whether you’re depositing four figures or eight into Euler’s permissionless lending markets, you now have access to comprehensive protection with Protocol Cover from Nexus Mutual. Euler Finance has partnered with Nexus to offer their users cover. Now anyone can deposit into Euler’s permissionless lending protocol and enjoy peace of mind.

Protocol Cover protects against the leading smart contract and technical risks in DeFi. When you purchase Protocol Cover for Euler Finance, you’re protected against:

• Code being used in an unintended way (e.g., exploits, hacks)
• Economic design failure (e.g., a failure in the protocol’s design that results in bad debt)
• Severe oracle failure, oracle price manipulation
• Governance attacks

To date, members of the mutual have paid more than $8m in claims to people who suffered a loss due to past exploits. Nexus Mutual’s claim process is battle tested and has protected members against six separate loss events since 2019.

Euler Finance is democratising access to lending and borrowing within DeFi through their permissionless markets. The protocol is designed to provide users with greater capital efficiency, so you can make the most of your lending and borrowing experience. You can use Euler to lend and borrow a wide variety of tokens, and if you are an experienced DeFi user, you can take advantage of the advanced features like feeless flashloans and the ability to short and long assets.

Nexus Mutual was created to allow people to share and hedge against the unique risks in on-chain markets. Many risk averse users and institutions cannot deposit into a protocol until they can buy cover for their positions. Without deep capacity, institutions and individuals can’t access enough protection to secure their positions. That’s why the Euler Finance team has worked with the leading provider of decentralised crypto-native coverage — to give users access to exhaustive protections with deep capacity.

Shortly after Euler Finance was listed, there was a cover buy for 7m DAI. Nexus Mutual is helping Euler onboard the next wave of capital into their lending markets.

Take advantage of Euler’s permissionless lending markets: maximise capital efficiency and minimise your exposure to smart contract and technical risk with Protocol Cover from Nexus Mutual.

For more information about Protocol Cover, review the Euler Finance listing in the Nexus Mutual user interface.

Learn how Euler Finance can help you earn interest on your crypto assets or hedge against volatile markets without the need for a trusted third-party by visiting euler.finance or by reviewing the How To section in Euler’s documentation.