The Bright Risk Index (BRI) is a diversified basked of risk cover staking positions. This is enabled by making NXM staking positions permissionless and tradeable.
We created the Bright risk Index which will help the market for decentralized insurances with: 1) Attracting more cover staking capital 2) higher risk/reward ratio 3) Inefficient capital structure
For this we created two innovations:
The Bright Risk Index (BRI) brings a new level of diversified investment opportunity to the market of risk covers.
Solidity:
the dNXMx token has a permissionless nature and everyone can create one for the existing protocol which is present on Nexus. A dedicated dNXMTokenFactory.sol was created which takes care of instantiating and updating (TransparentUpgradeableProxy) the existing dNXM tokens
each token has stake(), callWithdrawal() and withdrawal() methods available for holders. ‘Stake’ takes care the depositing to Nexus (into the corresponding protocol), ‘callWithdrawal’ takes care of cool down period on Nexus, ‘withdraw’ releases the funds and returns them (with rewards) to the holder
all the tokens were listed on Uniswap. Later, Uniswap V3 will be used to take the advantage of concentrated liquidity feature
Integrations:
Nexus PooledStaking is used by dNXMx implementation
Set protocol is used to combine (now tradable) staking positions. dXNM (Nexus) + NO_CLAIM (Cover protocol) + bmiXCover (Bridge Mutual) sort of tokens combined
Auto rebalancing will be enabled later on (Uniswap v3) + DAO-managed weights changing (Snapshot)
The Index token (Bright Risk Index) is listed on Uniswap and allows users to take position easily
UI:
VueJS + web3
Tooling:
Truffle, ganache-cli