Welcome to Bankless, we explore the frontier Internet money and Internet finance.

This is how to get started, how to get better, and how to front run the opportunity. This is Ryan John Adams

I'm here with David Hoffman and we're here to help you become more

thankless. David, how you doing after this epic episode?

Just fantastic, Ryan.

We brought on Hugh Karp from the Nexus Mutual Project.

Nexus Mutual and Insurance on Defi, Insurance on Ethereum, is one of those things that when I first saw, I was like, you know what, that's never going to work. In my bare market mind, I was like, that's never going to work work like you can't do insurance on

D. F. I and you know shame on me for being a bare market pessimist but now that now

that the bull market is here and looking deeper into Nexus Mutual it just makes so much sense like if you

wanted to just like take the the institution of insurance and make a D-5 version of

it what you get is Nexus, right?

And so tip of the hat for Hugh for building something throughout the Bear Market,

blood sweat and tears to build something that he's passionate about, that he really understands, and then have it come to absolute success over the last few months as the need for insurance on DFI has absolutely exploded.

You know, this has become a basically a trilogy with our D-5 builders, right?

These are the bare market builders.

So at one point during our conversation with Hugh, he said something that like surprised me.

I didn't know, but they almost shut down in 2019.

Like, Hugh almost stopped working on Nexus Mutual because he and his team had a delay-offs and it didn't seem like it was going to work out.

I'm glad he didn't because now here we are in 2020 and we have a protocol with

230 million in insurance coverage in the Defy market.

So necessary.

Glad he was, I guess, he persevered through that with his team

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