Native is a decentralized insurance brokerage supported by Nexus Mutual, aiming to address the insurance gap in the crypto industry. With $2.6 million raised in a recent seed round, Native is set to provide up to $20 million in on-chain insurance coverage. This article explores Native's role in DeFi insurance and its partnership with Nexus Mutual.
What is Native?
Native is a decentralized insurance platform designed to provide reliable on-chain coverage for various risks in the DeFi ecosystem. Supported by Nexus Mutual, Native aims to enhance crypto insurance capacity through its capital pool, offering broader coverage options and addressing existing insurance shortages in the market.
How Does Native Collaborate with Nexus Mutual?
Native operates a capital pool on Nexus Mutual, leveraging its infrastructure to boost the DeFi insurance market. This collaboration allows Native to offer up to $20 million in insurance coverage per risk, focusing on protecting users against smart contract vulnerabilities, hacking incidents, and other potential threats.
What Is the Base DeFi Pass?
Developed by OpenCover and supported by Nexus Mutual, the Base DeFi Pass is a unified insurance product that covers protocols like Uniswap, Compound, and Morpho on Coinbase's Layer 2 network, Base. It simplifies the insurance process for users, providing seamless protection with minimal effort —Essentially a “set and forget” solution.
Conclusion
Native aims to transform the DeFi insurance landscape by offering comprehensive, on-chain coverage solutions. With backing from Nexus Mutual and innovative products like the Base DeFi Pass, Native is positioned to become a key player in the growing crypto insurance sector.
What is Native? How Does It Transform Crypto Insurance? - I hope this article was informative.
