Babylon Labs and Nexus Mutual Innovate in Bitcoin Cover Solutions
Established in 2019, Nexus Mutual has underwritten more than $5.5 billion worth of digital assets, being one of the first to offer BTC denominated covers. As Babylon Labs continues to unlock new utility for Bitcoin through its staking and security solutions, it is supporting Nexus Mutual by sharing technical insights and helping identify use cases within the staking ecosystem — without participating directly in the development of cover products.
From protecting stakers against slashing to working with Bitcoin Secured Networks (BSNs) to cover entire protocols, Babylon Labs and Nexus Mutual are exploring different ways that Nexus cover products can improve trust and unlock liquidity. Whether for an individual staker or an institution, there will be cover options tailored to all of the different participants in the Bitcoin ecosystem.
'We're excited about Nexus Mutual's upcoming slashing protection product and what it could mean for Bitcoin stakers,' said Clayton Menzel, Head of BD at Babylon. 'This collaboration supports our mission of unlocking bitcoin to secure the decentralized economy, offering bitcoin holders a way to participate in staking with greater peace of mind.'
'We've known the Babylon team since before they launched and have been really impressed with what they've built for the Bitcoin space,' said Hugh Karp, Founder of Nexus Mutual. 'Bitcoin is now a crucial part of the global financial system, and we're excited to work with Babylon Labs to offer new ways to protect and leverage this digital asset.'
By working with Nexus Mutual to find new ways to protect staked Bitcoin, Babylon Labs is reinforcing its commitment to supporting a secure and resilient staking ecosystem, while Nexus Mutual continues to lead the way in crypto-native risk coverage.This collaboration is poised to unleash a new wave of growth and functionality for Bitcoin.
About Babylon Labs
Babylon Labs focuses on Bitcoin security-sharing protocols with a vision of building a Bitcoin-secured decentralized world. The latest software development is the world's first trust less and self-custodial Bitcoin staking protocol, which enables Bitcoin holders to stake their BTC on other decentralized systems such as PoS chains, L2s, Data Availability (DA) layers, etc, enabling stakers to earn staking rewards without the need for third-party custody, bridge solutions, or wrapping services. The greater idea is to combine the high security and wide adoption of Bitcoin with the efficiency and scalability of PoS systems, increasing Bitcoin's utility.
For more information about Babylon Labs, a developer of the Babylon Bitcoin staking protocol, please visit:
Website | Twitter | Discord | Linkedin
About Nexus Mutual
Founded in 2019, Nexus Mutual is the leading crypto insurance alternative. Having provided cover for more than $5.5 billion worth of digital assets while paying out 100% of valid claims for over $18 million, Nexus Mutual is the largest and most trusted underwriter for crypto risk. A true pioneer in the space, Nexus Mutual wrote the whitepaper for decentralized insurance alternative solutions. Since then, they have gone on to help thousands of people, protocols and institutions protect their digital assets against smart contract hacks and more.
For more information about Nexus Mutual, please visit:
Website | Twitter | Discord | Linkedin
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