TL;DR
- Launch of Community Forum
- Testnet redeployed on BASE Goerli network
- Monthly Town Hall AMA event in Discord
- TVL climbs to over 607,000 USD
Protocol Update
The tech team has been exploring opportunities for Neptune Mutual in relation to projects scaling the Ethereum blockchain. We can confirm that the Neptune Mutual testnet is now available on the BASE Goerli testnet. As a Coinbase Ventures backed company, we are delighted to deepen our relationship with the BASE team, and we are excited to see how this project develops as the BASE team progresses with taking its solution live.
We announced that the underwriting capital for Curve Finance and the 1inch cover on Arbitrum had been fully utilized and encouraged new LPs to contribute to the pool’s liquidity in order to benefit from the relatively high LP returns as a result of the high utilization.
Events
Edward and Letizia took part in a Twitter Space hosted by Arbitrum and chatted about the growth opportunities within the DeFi Insurance space as well as the benefits resulting from protecting digital assets with cover protection.
Edward gave an update to the Neptunite Discord community in a live AMA session on Friday, April 28th.
Recent News
In the AMA with our Discord community, we provided a brief update, including details on the growth of the protocol’s TVL, now in excess of 607,000 USD, as well as information in relation to the upcoming launch of our NPM utility token. We also published a Tweet thread with the following information:
- NPM tokens will be available for trading on Arbitrum on May 17, 2023.
- The TGE reference date for the NPM vesting schedule is May 1st, 2023.
- Testnet winners from our two competitions will be issued NPM token bounty rewards six and nine months, respectively, after May 1st, 2023.
- A transition period will be implemented in the Neptune Mutual marketplace in relation to the requirement for holding and/or staking NPM tokens for purchasing cover, providing liquidity, and for the other features requiring NPM tokens.
- The transition period will start on May 17 and finish on June 14; Neptune Mutual reserves the right to extend this transition period at its discretion.
Disclaimer
This is not investment advice. Trading crypto assets may involve significant risks of different kinds, which may result in loss of capital and loss of tokens. Neptune Mutual shall not be responsible for any loss; trade at your own risk.
We are delighted to announce that we have launched our community forums. In the first instance, we will be sharing information, resources,and ideas with community members in the following sections of the forum:
- Technical Discussion
- General
- Resources
- Announcements
- Proposals
- Ecosystem Developments
- Risks
We will be publishing our weekly reports, and monthly reviews in the general section of the community forum and moving those already published in the blog section of our website to the forum; blog articles will continue to be published in the blog section of our website as usual.
The launch of this forum is just the first phase of our plan to build a strong and engaged Neptunite community. The next step will involve decentralizing voting power to community members; this will require the development and deployment of smart contracts, which will be audited by a top-tier audit company.
Blog Digest
We are establishing ourselves as thought leaders in the DeFi insurance space. We are building an extensive library of educational content to help our community understand the latest developments in the crypto space.
In April, we published the following blog articles:
DeFi
Building Brand Resilience to Fight Reputation Risk
Best Practices for CeFi & DeFi Treasury Management
Hedge Inflation with Flatcoin Crypto
Ethereum
Understanding Ethereum EIP- 4844 Standard
The Ethereum Shanghai Update and Liquid Staking
Neptune Mutual
Five Key Use-Cases of the NPM token
A Guide to Purchasing Cover Policy
Cover Product SpotlightTuesday
Technical
A Guide to Solidity Visibility
In addition, our security team continues to publish details of recent exploits. This month, the team provided details of no less than seven different cover exploits.
Team
As we are still looking for candidates to fill several open positions, you can check out our current job openings by visiting our LinkedIn page.