You'd think with all the exploits in DeFi, insurance would be huge.
It's not.
Nexus Mutual remains the only real player with $144m TVL. Everything else like Cover protocol already died.
I guess, insuring 4% yields at 1.4% to 2% cost isn't attractive to still retail driven crowd.
And now protocols just build their own insurance pools anyway (Aave's $1m deposit insurance).
Interesting thing is $NXM trades unlike 99% of alts: it's actually up YTD and manage to 2x since 2023.
But is still relatively low at $138M FDV.
When institutions fully embrace DeFi, things could change.
A good token to put on RealYield watchlist.
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