TL;DR
- Vote escrow feature launch on Polygon Mumbai testnet
- Significant cover purchases in Neptune Mutual’s Arbitrum Marketplace
- Over 45% utilization of 1inch cover pool in Neptune Mutual’s BNB Marketplace
- February Monthly Town Hall in Discord
Neptune Mutual Protocol Update
We’re excited to announce that the vote escrow and liquidity gauge features from Neptune Mutual are now live on the Polygon Mumbai testnet. These features provide users with an opportunity to gain increased voting power for influencing the distribution of NPM emissions. Moreover, holders of veNPM are rewarded with enhanced NPM emissions as well.
We have created a comprehensive blog article on veNPM and Liquidity Gauge that you might want to check out.
Neptune Mutual Events
As usual, we hosted our monthly town hall for February on Discord, where co-founder Edward shared about the recent Neptune Mutual developments and updates. He discussed several topics like growth in marketplace activity, the launch of the Bond Pool on Sushi, and liquidity withdrawal periods for LPs in the past month.
You can check out the recording of the event on our YouTube channel.
Recent Neptunite News
Since the beginning of 2024, we have seen significant growth in policy purchases as a result of our marketing initiatives. Among them, the 1inch V2 cover product in the BNB Smart Chain network is leading the growth in cover policy sales and has exceeded 45% utilization. Similarly, the 1inch cover product on the Arbitrum network has been updated to V3 and has a utilization ratio of over 15% at the time of writing this (March 31, 2024).
In a single week, our marketplace saw the purchase of over 100 cover policies from the Arbitrum network, solidifying Neptune Mutual’s position as the top DeFi insurance protocol on Arbitrum.
Neptune Mutual Blog Digest
Here’s a detailed look at the articles published this month:
How to Spot and Avoid Crypto Rug Pull Projects
How to Protect Yourself against Cryptojacking
A Detailed Guide to AI Crypto Tokens
Hedera and Algorand’s Alliance for DeRec Protocol
Understanding ERC-20 Permit and Associated Risks
Everything You Need to Know about Bitcoin Halving
veNPM and Liquidity Gauge Features Live on Testnet
In addition, our security team has been consistent in analyzing exploits and publishing reports regularly. This month, we have published five different exploit reports on different protocols.