BraveNewDefi has launched its ETH2 Staking Cover to ably plug certain loopholes in the existing system, identified by them as holding considerable importance. Therefore, it is now providing comprehensive protection against them effectively.
Let us consider three typical scenarios where the ETH2 Staking Cover will make its mark. In the first case scenario, there are ample situations when an individual misses out on due rewards simply because they were offline. The second scenario would be missing out on rewards against transactions, being part of execution rewards, again because of being offline. The third would be in the case of covered validators and their deductions on the ETH2 Beacon Chain. Comprehensive protection against such cases will be on the cards now, providing a much-required sense of relief.
Since the inception of the Beacon chain in 2020, there have been over 400,000 validators securing the Ethereum network. The work of these validators is to create a common ground and earn ETH in the process.
Nexus Mutual, the leading provider of crypto-native coverage, has understood and accepted the tremendous demand for effective protection from ETH2 Staking risks from a huge segment of validator operators.
Thus, was born and created the ETH2 Staking Cover, which is now at one’s disposal both on and off-chain. This comprehensive package in the present scenario is ably and efficiently giving adequate protection cover against all such penalties, slashing events, and lost awards.
A leading validator and liquid-staking service provider, StakeWise took the educated decision of purchasing ETH2 Staking Cover from Nexus Mutual. This deal was struck so that they could provide their validators with a way out of unnecessary slashing risk.
In an announcement, they claimed it has positively impacted all of their capital that has been deposited and earned, resulting in a much safer protocol and now ensuring the proper maintenance of 1:1 backing of StakeWise tokens against ETH.
This now is, without a doubt, a success story that needed to be told.