Gearbox Protocol Cover Now Available on Nexus Mutual

GEARheads rejoice! Gearbox has partnered with Nexus Mutual to offer their users Gearbox Protocol Cover. Together, our communities are celebrating the launch of Gearbox V2, while giving everyone access to passive yields, composable leverage, and comprehensive protection. Now, anyone can participate in Gearbox’s leverage market, secure their deposit with Protocol Cover, and enjoy peace of mind.

Protocol Cover protects against the leading smart contract and technical risks in DeFi. When you purchase Protocol Cover for Gearbox, 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.

Gearbox Protocol allows anyone to take DeFi-native leverage and use it across various protocols to leverage trade or earn leveraged yields–or both at the same time! You can use leverage with protocols you already love: Uniswap, Yearn, Curve, Convex, Lido, etc.

Gearbox Protocol’s two-sided marketplace is open to everyone, from passive liquidity providers to experienced DeFi borrowers. Those who don’t want to actively manage a position can provide liquidity, sit back, and earn passive yield.

Those who know their alpha and are looking to maximise capital efficiency can deploy a multicall-enabled Gearbox one click strategy, or build customised trading and farming combinations themselves.

Nexus Mutual was created to allow people to share and hedge against the unique risks in on-chain markets. Many 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 Gearbox team has worked with the leading provider of decentralised crypto-native coverage — to give users access to exhaustive protections with deep capacity.

Choose your side within Gearbox’s marketplace, maximise your yield and minimise your exposure to smart contract and technical risk with Protocol Cover from Nexus Mutual.

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

Learn more about Gearbox Protocol’s two-sided lending marketplace by visiting gearbox.fi or by reviewing the How it works section in Gearbox Protocol’s documentation.