DeFi Insurer Nexus Mutual Maxed Out by Yield-Farming Boom
Nexus Mutual is seeing a surge in demand. "Our product has honestly seen massive interest since yield farming kicked off," said founder Hugh Karp.
The amount of DAI deposited on Compound skyrocketed by more than $140 million on Thursday – somehow exceeding the total amount of DAI in existence.
Bitcoin briefly broke below $9,000 on Thursday, but the markets remain quiet.
The move comes at a time when traders are seeking alternative sources of capital value during an "uncertain macroeconomic climate."