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DeFi insurance Nexus Mutual collaborates with the restaking protocol Symbiotic.
Source: DigitalToday Original Title: DeFi Insurance Nexus Mutual Integrates with the Restaking Protocol Symbiotic Original Link:
The decentralized insurance protocol Nexus Mutual is reported to collaborate with the restaking protocol Symbiotic to build a revenue-generating reinsurance layer that guarantees DeFi risks.
Symbiotic, competing in the restaking market, supports real-time capital reallocation and quick claim processing in line with the Nexus coverage period.
This aims to expand DeFi risk coverage without the centralization issues of existing insurance models.
Nexus Mutual applies the Lloyd's of London model to address the issue of insufficient insurance capacity in the cryptocurrency industry, allowing members to place their assets in the syndicate and earn up to 25% returns.
The founder of Nexus Mutual stated, “As interest in DeFi grows among institutions, the demand for large-scale risk coverage is increasing,” and added, “We will further expand our on-chain coverage solutions through collaboration with Symbiotic.”