Hi! Do you use nexus mutual or any form of insurance on your dai deposits in yearn vaults? It seems they have coverage available. I would like my deposits through alchemix to be covered and I would be willing to pay to insure it myself or receive less in interest but I am not sure if that’s possible. I believe the insurance would need to be carried by alchemix since they are the ones actually depositing the dai in yearn vaults
I think I've read that most of the insurance providers currently have limits to their coverage so they wouldn't be able to cover such a large holding. Potentially something could be worked out between Alchemix and one of the providers more directly though. I'd have to see what type of cost that would be before saying it would be good or bad to do. We should be looking for ways to insure though.
Dbuck Sherlock.xyz is working on going thru protocols directly, but it's not technically insurance.
Dbuck Oh, thank you very much, very clear and to the point answered. I was also interested in this question.
It is true that there's only so much coverage that can be purchased. I don't think that it'd be a terrible idea to look into buying some coverage though, even if it didn't fully cover our entire deposits.
At SST We're doing protocol level insurance. Still busy in the design phase to build protocol level insurance. Once we have product/ technical documents in, we'd love to run a test group to get thoughts on this from ya'll!