Introducing the Base DeFi Pass from OpenCover, Powered by Nexus Mutual
Oct 22, 2024
It’s never been easier to cover your crypto on Base — introducing the Base DeFi Pass from OpenCover, powered by Nexus Mutual. With the Base DeFi Pass, your crypto is covered across the most popular protocols on Base for one low price. This is the first product that lets you move your crypto between protocols without having to buy additional covers, offering unprecedented flexibility and security.
The Base DeFi Pass comes from two industry-leading partners, Nexus Mutual and OpenCover. With our expertise in underwriting risk, combined with an extensive capital pool, Nexus Mutual laid the foundation for the Base DeFi Pass. OpenCover created a custom interface where retail users can purchase the Base DeFi Pass on L2, for a smooth and low-gas experience. This partnership provides Base users with the best of both worlds by bringing together world-class cover with an unmatched user experience.
In a groundbreaking first, the Base DeFi Pass is the only product on the market that gives you the ability to move crypto between protocols and change positions without having to purchase additional coverage. This means you can take advantage of all the most popular protocols on Base: Aerodrome, Arcadia, Beefy, Compound v3, ExtraFi, Moonwell, Morpho, Overnight Finance and Uniswap v3.
“OpenCover has been an incredible partner for making cover accessible to a wider retail audience,” said Hugh Karp, Founder at Nexus Mutual. “We’re excited to launch the Base DeFi Pass with them and cannot wait to see the response.”
“With Over $5 billion underwritten since 2019, Nexus Mutual has emerged as the leader for onchain risk management,” said Jeremiah Smith, Co-Founder and CEO at OpenCover. “We’re excited to write onchain (safety) history with Nexus Mutual once again with the Base DeFi Pass, a leap forward for end-user safety.”
If you’re on Base, get your Base DeFi Pass today!
And if you’re wondering why the DeFi Pass isn’t available for your favorite chain yet, don’t worry… We’ll be rolling out DeFi Passes for other chains, so let us know which one you’d like to see next!
