Looking back at 2022
A new year has started, and there seems to be some melting going on in the crypto winter. Whether it’s freezing or getting warmer, the ease team is building, to prepare for the next bull run.
The team started the year with both a detailed review of the 4th Quarter of 2022 as well as an extensive look back at the many, many things that the Ease team accomplished in 2022. If you are new to Ease or haven’t kept up with the latest developments, we recommend checking it out here on the blog.
Looking ahead to 2023
Then we published some deep dive into part of our plans for 2023:
It discusses the diversification strategy we deployed:
- Hunting bugs to generate income
- A switch from our old arNXM vault to becoming the largest syndicate of the new Nexus Mutual V2 system.
- Details about the further development of the Uninsurance system
And it closes off with thoughts about why we stay at Ease, bear market notwithstanding!
Check the full 2023 preview here: https://ease.org/ease-into-2023/
Keeping DeFi safe.
The team has a lot of bug-hunting expertise and detailed knowledge of the DeFi ecosystem, being a Nexus syndicate and having set up their own risk ratings system. So, we look deeper than most into the smart contracts powering the Ethereum-based Protocols and overall Cryptosphere security.
Ease CEO and price and bug-bounty winning solidity wizard Robert Forster published some interesting findings about the dangers of MMEV: Multi-block Maximum Extractable Value. Every protocol should take a good look at his findings before the black hat hackers do.
The $Ease token and the history of Insurance
The team aims to publish a few high-level publications every quarter. This time we took a deep dive into the inner workings of the $Ease token and we looked back at the origins of the Ease Uninsurance system.
The $Ease token and the opportunities it represents explores the search for the Perfect Token. The article discusses the many functionalities of the $Ease token that powers the Uninsurance system and the Ease DAO. It can generate income, it can get you free coverage – even in case of a hack and DeFi protocols such as Yearn, Convex, Aave, Compound and SushiSwap can use it to fully protect their users.
It really is a Swiss Army Knife of Crypto.
Of course, we are not giving financial advice, but we can recommend taking a very close look at the token (and this article) before the next bull run starts!
Next, in Risk Sharing Never Gets Old, we analysed what risk actually is and went through the different historical stages of insurance as a system.
https://twitter.com/EaseDeFi/status/1638945429227458561
Also, do check out the other articles in the Thoughts Category of our blog, they are inspiring and informative!
The arNXM upgrade
Not everything went completely according to plan in Q1 ‘23.
As you may know, Nexus Mutual recently upgraded to V2 and with this came a lot of changes and opportunities.
Since Ease is one of the largest underwriters in Nexus through our arNXM product, we now manage our own coverage syndicate on the Nexus V2. You can check out the Ease Risk Rubric here:
https://ease.org/learn-crypto-defi/get-defi-cover-at-ease/ease-defi-cover/the-ease-risk-rubric/
arNXM was not scheduled to be upgraded for its V2 until a few days after Nexus Mutual V2 was live so we could finalize our testing with their live systems. We didn’t anticipate that this upgrade would cause immediate problems with balance recognition on the smart contract, but the arNXM vault began to read the amount of NXM it had staked as 0.
All is well when it ends well, though. We’ve upgraded the arNXM contracts so this is no longer an issue. We’ve arbitraged the price back to around parity so that will not occur anymore.
Thankfully we eat our own dog food and have been purchasing coverage to protect ourselves against these unforeseen incidents.
Read all the details in this blog post: https://ease.org/arnxm-now-upgraded-in-correlation-with-nexus-mutual-v2/
Uninsurance updates: new Sushi vaults and Farming is coming, together with Wido Integration!
More Sushi vaults have been served.
Meanwhile, we have been expanding our flagship product Uninsurance as well.
We have added a lot of SushiSwap vaults and upgraded some existing ones.
Now, the system supports the following Sushi vaults:
- Sushi LP: BIT-WETH
- Sushi LP: DAI-WETH
- Sushi LP: LDO-WETH
- Sushi LP: USDC-WETH
- Sushi LP: WBTC-WETH
- Sushi LP: WETH-USDT
- Sushi LP: YFI-WETH
Users can now deposit their SLP tokens for all of the above Sushi vaults into the Uninsurance ecosystem. Enjoy your protected yearn yield, without paying any premium! (see our FAQ to learn more).
Check out the details here: https://ease.org/new-sushi-vaults-added-to-ease-uninsurance/
Next in the pipeline are some interesting additions to the Uninsurance functionality.
Ez-farming is coming
First of all, we are currently finalizing the Ez-farms. Users already received Ez-tokens, which you get when you deposit your DeFi tokens to get free coverage.
But soon (™), you will be able to farm $Ease with those tokens! Keep an eye out on the Ease DeFi Twitter account, Telegram Groups or the Ease Discord channels for the announcements.
Read details here: https://ease.org/ez-farming-is-near/
Wido <-> Ease. Make DeFi even Ease-ier
Even if the complicated world of DeFi has been keeping you out of the Uninsurance ecosystem, don’t worry – we got you covered! Wido makes it possible to get complex yield-bearing tokens with a single click. That’s why Ease joins forces with Wido.
Soon (™) you’ll be able to enter Uninsurance and ez-Token farming with a simple click and in the denomination of your choosing. Getting your hands on some of the best DeFi farming action has never been Easier.
α
If you have read this far: here is some Alpha: farming will be enabled in all vaults. Some of those have many deposits, others have much less. So if you want a high APY from the get-go, now is the time to deposit your Lp tokens in the lesser-known vaults as well.
Get free cover, pay no premiums and earn $Ease tokens that you can use to lower your risk even more!