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Integrations

The protocol now supports commission rates. When you integrate and offer your users the ability to purchase cover through your user interface (UI), you can set a commission rate for any cover purchased through your UI.

The commission ratio and commission destination address are configured in your implementation of the router contract. The commission ratio is a percentage added to the cover price, where the maximum ratio that can be applied is 25%. When someone buys cover and pays the fee through your UI, the commission ratio is applied and that amount is sent to the commission destination address in the asset that is used to pay the cover fee.

It is recommended to use a whitelisted membership address as the destination address, though it is not required. If cover buyers choose to pay the cover fee in NXM and the commission destination address is not a member, the buy cover transaction will fail.

Commission​

If you are distributing Nexus Mutual cover in your UI, you can add a commission to the existing cover price. This creates an incentive for members to make cover more accessible through third-party user interfaces.

For example: whenever someone buys cover in the Nexus Mutual UI, a 15% commission is applied, which is then directed to the DAO treasury.

Commissions create stronger economic incentives to expand the Mutual's distribution network.

Selling cover to non-members​

When cover is purchased, a member can specify the address owner, which is the address where the cover NFT will be minted. If you offer your users the ability to purchase cover through your user interface (UI), you can use a whitelisted address - an EOA or a smart contract - to buy the cover and mint it in a non-member's address. This functionality gives you greater flexibility if you offer and sell Nexus Mutual cover.

Note: while a non-member can custody the NFT, only a member can edit an existing cover or file a claim.

Point-of-Sale (PoS) Integrations​

The Mutual now offers PoS integrations, so you can allow users to buy cover directly in your frontend. Users don't have to join the Mutual when they buy cover. They'll only need to join as a member if they suffer a loss and need to file a claim. By offering a PoS integration, you can attract more risk averse users and capture stickier TVL, as users who buy cover tend to stay deposited longer than users who do not buy cover.

Below you can find resources to add a PoS integration to your frontend.

Developer Resources​

The @nexusmutual/sdk package enables easy integration with the Nexus Mutual buy cover flow.

API Reference​

getQuoteAndBuyCoverInputs - function to retrieve a quote and necessary inputs for buying cover.

Getting Started​

Install @nexusmutual/sdk:

❯ npm install @nexusmutual/sdk

Example: Buying Cover (using ethers)​

Step 1: Import the SDK and ethers​

Import @nexusmutual/sdk along with ethers:

import nexusSdk, { CoverAsset } from '@nexusmutual/sdk';
import * as ethers from 'ethers';

Step 2: Initialize the ethers provider and connect the wallet​

Set up the ethers provider and get the user to connect their wallet.

const provider = new ethers.providers.JsonRpcProvider(PROVIDER_URL);
const wallet: Wallet = …;

Step 3: Fetch a quote​

Use getQuoteAndBuyCoverInputs to retrieve a quote for the desired cover. Provide all the necessary parameters including the product ID, cover amount (in wei), cover period (in days), cover asset (ETH or DAI), and the buyer’s address. See the products.json section of the SDK to see the total list of individual cover products the Mutual offers.

const response = await nexusSdk.getQuoteAndBuyCoverInputs(
  XX, // product id for Bundled Protocol Cover or Protocol Cover
  ethers.utils.parseEther('10').toString(), // cover amount (in wei) denominated in the asset below
  28, // coverPeriod (in days: min 28 days, max 365 days)
  CoverAsset.ETH, // cover asset - ETH, DAI, or USDC
  wallet.address, // coverBuyerAddress - address of the end user buying the cover, that will receive the cover NFT
);

Step 4: Display the quote information​

If the quote is successfully retrieved, you can display the quote information to the user:

const response = await nexusSdk.getQuoteAndBuyCoverInputs(
  XX, // product id for Bundled Protocol Cover or Protocol Cover
  ethers.utils.parseEther('10').toString(), // cover amount (in wei) denominated in the asset below
  28, // coverPeriod (in days: min 28 days, max 365 days)
  CoverAsset.ETH, // cover asset - ETH, DAI, or USDC
  wallet.address, // coverBuyerAddress - address of the end user buying the cover, that will receive the cover NFT
  );

Step 5: Buy Cover​

If the quote is successfully retrieved, you can initiate the buy cover transaction:

if (response.result) {
  // execute buyCover
const coverBrokerContract = new ethers.Contract(
  nexusSdk.addresses.CoverBroker,
  nexusSdk.abis.CoverBroker,
  signer
);
const { buyCoverParams, poolAllocationRequests } = response.result.buyCoverInput;
const tx = await coverBrokerContract.buyCover(buyCoverParams, poolAllocationRequests);
await tx.wait();
} else if (response.error) {
  // handle error
console.error('Error message: ', response.error.message); // error message
console.error('Error data: ', response.error.data); // optional error data
}

Required Terms and Conditions Language for UI Integrations​

PoS integrations do require a disclaimer to let users know they'll have to become a Nexus Mutual member in order to file a claim. You can find the template below:

  • By buying Nexus Mutual Bundled Protocol Cover, you agree to the [terms](link to relevant Product Type wording) and [conditions](link to any relevant schedule and/or annex document)
  • By checking this box, you confirm that you do not reside in the countries listed in the linked page, and acknowledge that in the event of a loss, you will be required to join as a member of Nexus Mutual to file your claim.

Guidance on How to Display​

When you display the option to Buy Cover in your frontend, we would like you to include the “By buying Nexus Mutual [Product Type], you agree to the [terms](link to relevant Product Type wording) and [conditions](link to any relevant schedule and/or annex document)" text below the Buy Cover option, as we do in our user interface.

Once someone clicks the Buy Cover button, they should be prompted with the second message, which they have to click to acknowledge before buying cover.

Have Questions or Need Support?​

Please reach out to us through the Nexus Mutual Contact Form.