Neptune Mutual is a decentralized parametric insurance protocol built on Ethereum that offers immediate stablecoin payouts for users affected by exploits in DeFi, CeFi, and Metaverse applications. The platform enables the creation of tailored cover policies that protect user funds without requiring personal information or loss evidence, addressing the risks associated with cryptocurrency investments.
Funding
$5.3M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Decentralized finance (DeFi), centralized finance (CeFi), and Metaverse applications are susceptible to exploits, resulting in potential financial losses for users. Traditional insurance models often require extensive personal information, proof of loss, and lengthy claim processing, creating barriers to entry for crypto users.
Solution
Neptune Mutual offers a decentralized parametric insurance protocol on Ethereum that provides immediate stablecoin payouts when exploits occur in DeFi, CeFi, and Metaverse applications. Users can purchase cover policies to protect their funds without needing to provide personal information or loss evidence. The protocol supports dedicated covers created by projects for their communities and diversified covers that enable liquidity providers to spread risk across multiple projects. By integrating the Neptune Mutual SDK, developers can enable users to access cover features directly within their DeFi applications.
Target Audience
The primary target audience includes users of DeFi, CeFi, and Metaverse applications seeking protection against potential exploits, as well as developers looking to integrate insurance solutions into their platforms.
Features
- Parametric insurance model providing payouts based on incident resolution, not proof of loss
- Dedicated cover pools tailored to specific projects and their communities
- Diversified cover pools enabling risk diversification across a portfolio of projects
- SDK for seamless integration of cover features into DeFi applications
- Support for liquidity providers to earn rewards by supplying capital to cover pools
- Governance mechanisms for community participation in risk assessment and cover parameters
- NFT collections offering users a range of digital assets to explore and trade