ether.fi Partners with Nexus Mutual to Protect Against ETH Slashing at Institutional Scale
London-based digital asset neobank ether.fi has partnered with crypto insurance provider Nexus Mutual to secure the largest-ever Ethereum (ETH) Slashing Cover. This protection safeguards ether.fi's validators against penalties worth up to 15,000 ETH, a sum exceeding all historical ETH slashing losses combined.
As ether.fi's validator set is one of the largest on Ethereum, slashing represents a significant tail risk. This cover, part of ether.fi's broader investment in security infrastructure, is designed to protect users, including a growing institutional base, in extreme scenarios.
Mike Silagadze, Founder & CEO of ether.fi, stated the partnership aligns with their belief that the safest protocols will win, highlighting their investment in audits, security, and now major insurance. Hugh Karp, Founder of Nexus Mutual, noted ether.fi's long-term focus on risk management and called the 15,000 ETH cover a historic step.
ether.fi manages over $6B in assets across cash, staking, and liquid restaking products. Nexus Mutual, a pioneer in crypto insurance alternatives, has provided over $7 billion in coverage since 2019 against risks like smart contract hacks and slashing.
TheNewsCrypto07/17 13:41