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Posted on: 19 November 2023
Nexus Mutual is an on-chain risk marketplace operated by and for members. Our mission is to build an ecosystem in which anyone can protect anyone else by sharing risk. The mutual launched in 2019 and has become the leading coverage provider within the DeFi ecosystem with more than $7.3m in claims have been paid to date.
The protocol provides a decentralized, transparent alternative to traditional insurance companies. The economic incentives within the mutual solve the centralized insurance industry's core problem: the principal-agent problem.
We are looking for a Smart Contract Engineer who can help us build the premier on-chain risk marketplace for DeFi, CeFi and beyond. You can learn more about us here: Twitter, Discord, Github. Someone who can write and deploy complex smart contract logic, a team player that will work alongside our group on designing and implementing product functionalities, and the core mechanisms that power Nexus.
Our team is working with web3 technologies across the stack. The ideal person is someone who can work both independently and as part of a team, has a good understanding of Web3 primitives, is passionate about building scalable applications, and highly curious about DeFi and Crypto.
App layer: React.js, Redux, ReduxSaga, Reselect, GraphQL, Node.js, TypeScript, AssemblyScript, MongoDB
Web3: Solidity, OpenZeppelin, Chainlink oracles, Hardhat, Mocha, Chai, Tenderly, IPFS, The Graph, Ethers.js, Web3-onboard.js
Infrastructure: AWS, CircleCI, Coveralls, Kibana, Grafana, Prometheus
The concept of insurance comes from communities in the past that pooled their resources to protect each other from the risks they all faced. It works better the more people are in the pool as the numbers become more reliable. But this method isn’t scalable because it is a trust-based system and the network of individuals trusted by everyone in the pool only extends so far. Hence traditional insurance companies emerged.
When Ethereum and smart contracts came along we realized we could apply our insurance industry knowledge to our passion for decentralised technology. We realized we could build a mutual on a platform where individuals only need to trust the system, not everyone in it.
Specifically, we could see a solution to the problem of agency—where an insurer looks after customers' money on their behalf. We also saw the opportunity to make significant cost savings compared to the traditional insurance model. As we’re already in the UK, we have the perfect base to build out this concept due to the existing law around mutuality.
The aim is to provide our members with more simple, transparent, accessible, and affordable financial protection against their risks.