Nexus Mutual adopts Bancor’s DAO treasury management solution

Hugh Karp, Founder of Nexus Mutual

Nexus Mutual will execute the single largest DAO treasury deposit on Bancor this week, joining dozens of DAOs that have recently staked treasury funds on Bancor.

The deposit of $2.2m wNXM comes as other DAOs and token projects are opting for Bancor, like UMA, Flexa Network (AMP), Paraswap (PSP), KeeperDAO (ROOK), Harvest Finance (FARM), Request Network (REQ), Instadapp (INST), WOO Network DAO (WOO) & more.

Bancor is emerging as the preferred DAO Treasury Management solution to generate Protocol-Owned Liquidity protected from Impermanent Loss. Depositors on Bancor earned over $200m in 2021, using the protocol to provide single-sided liquidity and earn passive income on over 100 integrated tokens with 100% protection from Impermanent Loss.

Nexus Mutual joins biggest market trustee, Bancor

Bancor has become the largest source of decentralized liquidity for major tokens, accounting for 60-80% of Ethereum on-chain liquidity in tokens like LINK, SNX, BAT, ENJ, AMP, wNXM & more. Average annual yields on Bancor have ranged from 5-60% in recent months.

Meanwhile, more than 30 token projects plan to provide liquidity and incentivize pools on “Bancor 3”, the protocol’s upcoming new version. Nexus Mutual founder, Hugh Karp, said: “Bancor doesn’t require any maintenance, is battle-tested and will ultimately drive higher income to our DAO and community due to there being no Impermanent Loss.”

“We’re able to fund our pool with wNXM-only liquidity and attract loyal token holders as long-term liquidity providers without needing to sell tokens or issue incentives.”

Nate Hindman, Contributor at Bancor, was excited to welcome Nexus Mutual to the group.

“We are excited to have Nexus Mutual join the growing list of projects building sustainable decentralized liquidity for their tokens on Bancor. Nexus and Bancor are focused on designing decentralized solutions for risk-averse users seeking safe and reliable access to DeFi.”

DAOs stake funds on Bancor to:

  • Build sustainable on-chain liquidity in their native token
  • Earn reliable passive income without exposing funds to the risk of Impermanent Loss
  • Expand token holder access to liquidity provision, creating more robust liquidity
  • Coming soon in Bancor 3: Deploy auto-compounding rewards that deepen token liquidity

About Bancor

Bancor is the first decentralized staking protocol that lets liquidity providers earn trading fees with single-token exposure and full protection from impermanent loss. In 2017, Bancor invented the first automated market-makers (AMMs) on Ethereum.

Today, it generates millions in earnings per month for depositors, offering up to sixty percent APR on tokens like ETH, WBTC, LINK, MATIC, SNX & more.

About Nexus Mutual

Nexus Mutual is a decentralized mutual where members come together to share risk. The protocol’s 8000+ members earn crypto yields in a much safer way by protecting them against evolving risks in DeFi such as technical failures, oracles attacks and hacks.