Nexus Mutual Partners with Sherlock to Protect $33m Across DeFi Protocols

Nexus Mutual, the leading provider of crypto-native coverage, has partnered with Sherlock to supercharge their incentive-aligned auditing services. Sherlock is an industry leading auditing and smart contract coverage protocol that has pioneered the next generation of smart contract audits. They provide up to $10M of coverage after each audit has been completed. Our teams have collaborated to create first-in-class coverage that advances protection for Sherlock audited protocols.

We are proud to announce the launch of Sherlock Excess Cover, which provides Sherlock with protection for 25% of their underlying coverage. Through this partnership, Sherlock can derisk and extend cover capacity for future audits. By working with Nexus Mutual, the Sherlock team can take advantage of the mutual’s capital pool, which has more than $199m (153,887 ETH) in underwriting capital.

Both Nexus Mutual and Sherlock are working to protect more DeFi users like you. Nexus Mutual pairs risk management expertise with comprehensive crypto-native cover products, and Sherlock is the only auditing firm that backs their audits with native coverage at the protocol level. Together, we are working to strengthen on-chain security.

Nexus Mutual looks forward to further collaboration with the Sherlock team. We are always open to working with teams that have risk management expertise. That’s why we have been building Nexus V2–an on-chain risk marketplace where anyone who wants to build a risk management business or expand the reach of their risk management business can build on top of Nexus Mutual.

Anyone interested in building a risk management business on top of Nexus Mutual or working with our team to explore new products and possibilities can send an email to info@nexusmutual.io.

About Nexus Mutual

Nexus Mutual is a decentralized insurance alternative built on the Ethereum blockchain. The mutual was created to give people a way to hedge against the unique risks in on-chain markets. Nexus Mutual is the leading provider of crypto-native coverage: our members protect more than $199.1m in productive assets and have paid out $8.4m in claims to date.

Learn more about Nexus Mutual by visiting nexusmutual.io or reading Nexus Mutual’s documentation.

About Sherlock

Sherlock is an audit marketplace and smart contract coverage protocol built on the Ethereum blockchain. Sherlock works directly with protocols to protect Decentralized Finance (DeFi) users. Each protocol receives an industry-leading code audit that combines the best of traditional audits with global audit competitions, backed by up to $10M in smart contract coverage.

Learn more about Sherlock by visiting sherlock.xyz or reading Sherlock’s documentation.