8/10/2023 0 Comments Gemini earn review![]() You can also review the mutual’s claims history in the Nexus Mutual documentation and directly on-chain. Read more about the advisory board’s role in the claims assessment process in the Nexus Mutual documentation. The system is designed so that any attack would put more capital at risk than any potential profit that could be gained or any capital staked in risk assessment that could be saved. The claims assessment process is designed like an optimistic oracle, but instead of code, humans act as the oracles. What prevents claims assessors from denying my claim? Voting weight is less than 5x the Cover Amount.A claim is escalated to a full member vote if either: The stake weighted voting outcome then determines the claim result. Voting stakes of greater than 10x the cover amount have voted or.After this point the vote automatically ends on the earliest of either when: The voting period lasts for a minimum of 36 hours. Once your claim is submitted, claims assessors then review and assess the validity of your submitted claim. Visual representation of the NXM reserved for claims filing when cover is purchased You can file a claim up to two times 10% of your cover cost is reserved for filing claims, as outlined in the diagram below. And if you’re a member who would like to participate as a claims assessor, you can also read the Claims Assessment section. If you’ve never filed a claim with Nexus Mutual before, you can read through the following section for an overview. ![]() You can read the full Custody Cover wording for more information. Once BlockFi and Gemini Earn announced that they were halting withdrawals, the 90-day provision in Section 1.2 took effect - members who held active cover when withdrawals were first halted have to wait for 90 days to pass before claims can be filed. ![]() Historically, members have determined the total loss at the 90-day mark, which would be:Ĭustody Cover protects against a loss of funds for crypto assets that are held in a custodial account. Partial claims functionality will be available when you file your claim, so be sure to only file a claim for your actual loss amount. When claims filing begins, please be sure to censor any personal information you submit as proof of loss, as it will be public and available for all members to review. ![]() When you file your claim, you can attach a copy of your account statement, screenshots of your account balance, support emails where your withdrawal request has been confirmed, and other documentation that claims assessors can use to verify your loss. You’ll need to provide off-chain proof of loss. Nexus Mutual requires proof of loss for Custody Cover claims. Please note: you will still need to file a claim once claims filing opens and provide proof of loss at that time with your claims submission Proof of loss You can verify your account before claims filing begins: feel free to begin this process at any time. See the Verifying custodial account ownership ahead of claims filing in February for more information if you have not previously completed this step. Once this has been completed, the Account Ownership Verified column in the Google Sheet that tracks claims for each event will be updated to a Yes for verified accounts. The verification process will be conducted off-chain: you will send your uncensored account statements and any other supporting evidence (e.g., support emails with your name, withdrawal requests confirmed by email, etc.) to information will not be made public and will be used only to compare that the owner of the custodial account is the same individual/entity that is KYC’d as a Nexus Mutual member. You will need to verify that you own the account associated with your upcoming claim. If you have any issues, you can head to the Nexus Mutual Discord, create a post in the DAO forums channel with the Claims tag, and start a conversation. When you are able to file your claim, you can head to the Nexus Mutual user interface and begin the process. If your BlockFi Custody Cover or Gemini Earn Custody Cover is one of those listed as eligible for claims filing, then you will be able to file a claim. You can check the BlockFi Halted Withdrawals and Gemini Earn Halted Withdrawals lists to see if your cover was active at the time withdrawals were first halted.
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