Neptune Mutual

After much deliberation and careful thought, Neptune Mutual has decided to close the cover marketplaces. What does this mean? The cover marketplaces will be shut down using the emergency withdrawal process. This means all cover pool liquidity (and pro rata yield if any) will be manually returned to the corresponding wallet addresses from which it was invested. In addition to protecting cover pool LPs. There will be cover policy fee refunds for all current and valid cover policies where the policy fee paid in one transaction was 10 USD or greater (any cover policies with policy fees of less than 10 USD will become invalid and will not be eligible for refund). Further posts will be made through our X account. Neptune Mutual’s Discord account will be closed in order to minimize security risks and the spread of false information. Any questions/queries relating to the Neptune Mutual marketplaces will be responded to in the Telegram channel. The protocol will be open sourced and become a true public good, enabling the community to fork the code developed by the Neptune Mutual team such that others might use the existing resources to further our mission to make the blockchain space better protected against smart contract risks. Unused funds raised from financial backers will be returned to those backers; this includes DEX liquidity that has now been removed from SushiSwap and Uniswap. A small amount of liquidity on SushiSwap Arbitrum has been left to enable a minimum amount of NPM trading. We’d like to take this opportunity to thank the Neptune Mutual team for all the long hours, commitment and outstanding work they have contributed since the outset of this journey. Unfortunately this is the end of the journey for the team and any help in securing them new opportunities is much appreciated. It is to the team’s credit that, since its inception, Neptune Mutual has not suffered any loss of funds due to technical or any other vulnerabilities; this is a result of consistent pursuit of security excellence across all aspects of cybersecurity both on and off chain. We would like to thank the financial backers for their supports in the mission to provide better solutions to mitigate the very considerable vulnerabilities that threaten blockchain users. Finally, we would like to thank the Neptunite community for the support you have provided the protocol from pre-launch through to the more recent initiatives 🔱 Full details👇 https://lnkd.in/ekgcPQmK

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