If a DeFi user wants to buy cover for a specific product, a request must be submitted for a vote with the coverage amount and duration. They undergo AML/KYC (as it's required for UK entities like Nexus Mutual) and then become legal members of the DAO.Įach DAO member provides cover, or deposits, for trusted DeFi projects by buying and staking NXM, the platform governance token. Users sign up on the website and pay a small one-time fee of 0.002 ETH (or around $5 based on current prices). To do this, Nexus Mutual's ecosystem includes two parties: (1) DAO members who pool funds to cover claims, and (2) users who pay the members for this cover. Nexus Mutual enables users to better assess and manage risk. good user interface and experience)? Score: 4/5 P: Product - How innovative and differentiated is the product? Is there product-market fit? How easy is it to use the product (i.e. As more players join the space, there will be more competition, innovation, and an overall bigger pie. ![]() In March 2021, Aon, the world's second-largest insurance services firm, recently announced a pilot for Nayms, a decentralized risk management platform that provides cover against hacks and bugs. We are beginning to see traditional financial institutions experimenting with decentralized technology and governance. Based on research from Mordor Intelligence, the global cybersecurity insurance market is currently valued at $7.4 billion and expected to grow at a CAGR of around 24% over a 5 year forecast period (2021-2026). In comparison, no other DeFi insurance protocol has over $10 million TVL.Ī second way to measure TAM is to look at traditional cybersecurity insurance, which plays a similar role in mitigating technology risks. TVL in DeFi on Ethereum is around $49 billion at the time of writing. Comparing Total Value Locked ("TVL"), Nexus Mutual currently ranks 22nd on DeFi Pulse with $314 million TVL. Total Addressable Market or "TAM" can be viewed in a few different ways. It's important to note that the platform is legally not considered insurance because claims are assessed by members of the Nexus Mutual DAO. The project provides cover for a number of risks across DeFi. Nexus Mutual tackles this by being one of the first and largest protocols to offer decentralized risk coverage called “mutuals,” similar to traditional insurance but more decentralized. The question naturally becomes - "how do I, as a user, manage these risks?" User funds are exposed to various risks, such as hacks, exploits, and rug pulls. Decentralized applications hold more assets than ever within their smart contracts. Nexus Malls is set to start trading on the stock exchanges on May 19.O: Opportunity - How large is the Total Addressable Market? Does the project disrupt an existing market, or does it create a new market? Score: 3.5/5ĭeFi is a highly experimental and risky intersection of technology and finance. Losses for the REIT narrowed to $1.34 million for the year ended Mafrom $24.45 million a year ago.Īxis Capital, IIFL Securities, BofA Securities India were among the book running lead managers to the IPO. Nexus is betting on a "consumption mega trend" with malls recovering and growing reasonably fast post the pandemic-lockdowns, Nexus CEO Dalip Sehgal said at an IPO press conference in Mumbai on Wednesday. Spokespersons for Nexus and Star Health declined to comment on the deal while others did not respond to queries seeking comment. Other anchor investors include state-owned State Bank of India Life Insurance (SBIL.NS), SBI Mutual Fund, HDFC Life Insurance (HDFL.NS), HDFC Mutual Fund and Star Health Insurance, they added.Īpart from Canadian investment firm Brookfield, other foreign investors include U.S-based Jane Street and Asian fund Prusik Investment management, both the sources said. ![]() Indian conglomerate Tata Group is investing in the IPO via its unit Tata Investment Corporation (TINV.NS), the sources, who did not want to be named because the discussions are private, said. Apple Inc (AAPL.O) last month opened its second fully-owned store in India in a Nexus-owned shopping mall in New Delhi. Nexus Malls owns 17 commercial properties across 13 Indian cities. The IPO, the first-ever by an Indian retail REIT, comes at a time when volatile markets and global macroeconomic challenges have scuppered or delayed various listing plans in India.īlackstone Inc (BX.N)-owned Nexus is seeking a valuation of about $3 billion and plans to raise about $390 million in the share sale, a newspaper advertisement showed on Wednesday. BENGALURU, May 3 (Reuters) - Brookfield Asset Management and Tata Group are in talks to invest in the upcoming initial public offering (IPO) for Nexus Malls, betting that the Indian real estate investment trust will benefit from a rise in the country's consumption levels, two sources told Reuters.
0 Comments
Leave a Reply. |