Nexus Reinsurance

【Introduction of Nexus Reinsurance】

• This is a smart contract for creating a reinsurance layer for Nexus, where users can stake Uniswap/Balancer LP tokens in return for additional wNXM rewards.
  • In return, if Nexus’ MCR% drops below a certain threshold (eg 80%) then Nexus can claim a portion of the LP tokens, withdraw their underlying assets and transfer the assets into the Nexus Mutual pool.

 

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【Workflow】

• Workflow of Nexus Reinsurance
  • Reinsurance capital is provided by Uniswap/Balancer LP’s in high quality assets only (eg ETH,DAI,USDC etc)
  • Capital is rewarded with wNXM tokens which are paid for by Nexus Mutual.
  • Claim triggers are defined if MCR% drops below a certain threshold then a certain amount of LP tokens are taken and injected into Nexus Mutual as capital.
  • Reinsurance Pool Factory is a generalised protocol that deploys pools for Nexus as well as other projects.
  • Nexus Reinsurance Pool Manager interfaces between Nexus Mutual and the Reinsurance Pool/s and manages settings and interactions between different reinsurance pools (Source from: https://docs.google.com/document/d/1EZLRdxkfb-3lbkAp1FNrIs4vkDXPfNko6PJ0IMnp4vw/edit# )

 

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【Setup】

① Install modules

$ npm install

② Compile & migrate contracts (on Kovan testnet)

$ npm run migrate:kovan

③ Testing

※ In progress

 

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【References】

• Nexus Mutual

  • Nexus Reinsurance Layer (Document)
    https://docs.google.com/document/d/1EZLRdxkfb-3lbkAp1FNrIs4vkDXPfNko6PJ0IMnp4vw/edit

  • Nexus Reinsurance Layer in GR8
    https://gitcoin.co/issue/NexusMutual/smart-contracts/48/100024186

  • MCR% stands for Minimum Capital Requirement %
    https://nexusmutual.gitbook.io/docs/docs#capital-model

• Nexus Mutual (Other resources)
  • Nexus Mutual Smart Contracts: https://github.com/NexusMutual/smart-contracts/tree/master/contracts
  • Nexus Mutual docs: https://nexusmutual.gitbook.io/docs/docs
  • Nexus Mutual app: https://app.nexusmutual.io/
  • Nexus Mutual Smart Contracts index: https://nxm.surge.sh/
  • Stats: https://nexustracker.io/
  • Wrapped NXM (wNXM): https://etherscan.io/address/0x0d438f3b5175bebc262bf23753c1e53d03432bde#code
  • GR8 Bounty: https://gitcoin.co/issue/NexusMutual/smart-contracts/47/100024185
  • Deployed contract address

    • Deployed contract information https://nexusmutual.gitbook.io/docs/docs#deployed-contract-information

    • How to deploy on Kovan https://github.com/NexusMutual/smart-contracts#getting-started