Armor Ecosystem Summary
(Note: this Armor archive article refers to the original 2021 Armor Product suite, of which parts have been sunsetted.)
The main constraints of Nexus Mutual which Armor will address are:
- Cover Demand: Maximize cover sales through arCore and arShield, which maximizes rewards thereby attracting more capital to increase cover capacity.
- Cover Capacity: Maximize cover capacity by capturing and staking wNXM back into the Nexus Mutual ecosystem to boost cover capacity.
Having the ability to address both the supply-side and demand-side constraints puts Armor in a unique position to maximize cover sales and there by rewards for stakers, while minimizing costs for buyers.
The current Armor system is composed of the following products and tokens:
- $ARMOR is the governance token of the protocol, functions include voting on updates to smart contract code, fee model constants and claims assessment.
- ArNXM Yield Vault allows users to deposit their wNXM tokens in the Nexus Mutual ecosystem and earn yield without requiring KYC.
- $ArNXM is the yield bearing token of the arNXM yield vault (replacement for wNXM). ArNXM accrues staking rewards, increases coverage capacity on nexus mutual, and circumvents the mandatory staking lockup period.
- ArNFT Tokenized Coverage is a wrapper for Nexus Mutual coverage with many security improvements over the original yNFT tokens. (see their origin and how we saved $200m in DeFi cover here)
- ArNFT Staking Pool allows users to stake arNFTs to sell coverage and earn yield through Armor’s Smart Cover System and Shield Vaults.
- ArCore Smart Cover System is our first product that facilitates smart yet simple, dynamic, pay-as-you-go Nexus Mutual coverage on your funds to protect them against smart contract risks.
- ArShield Armored Vaults are protected vaults for LP tokens with autopayments, powered by arCore. Users can deposit their LP tokens and enjoy fully or partially collateralized smart contract coverage. Cover fees are subtracted from the yield generated from pool fees – that means you never have to pay manually or deposit funds up front.
- Uniswap LP token staking vault
- Sushiswap LP token staking vault
- More soon
- ArmorDAO is sufficiently decentralized at launch while maintaining organizational agility. The proxies are controlled with a new hybrid system. There is a timelock owned contract which controls everything with two owners: a team multisig and a full DAO.