Stats on recent shield mining campaigns.
Capacity is existing current capacity at 13th May 2021. Some would have decreased since the campaign other have increased.
In general, we’d expect a $100k - $200k campaign to open up at least $20m of capacity but with strong ongoing demand for cover, like with Bancor, this should be much larger.
At present global capacity on any individual risk is around $100m (regardless of staking), and this grows as Nexus grows in general.
| Project | Month of 2021 | Shield Mining | $ value at start of campaing | NXM Stake as at 13 May 2021 | Total Capacity at 13 May 2021 |
|---|---|---|---|---|---|
| Bancor Network | February | 25,000 BNT | $50,000 | 338,125 | $46,701,765.61 |
| Origin Protocol | February | 500,000 OGN | $150,000 | 68,368 | $9,442,993.68 |
| Hodlnaut | March | 680 NXM | $100,000 | 157,130 | $21,702,817.70 |
| Benchmark Protocol | March | 56818 MARK | $75,000 | 78,150.73 | $10,794,178.83 |
| Liquity | April | 49 WETH | $100,000 | 195,072.95 | $26,943,475.85 |
| StakeDAO | April | 10,000 SDT | $58,000 | 116,575.89 | $16,101,461.93 |
| Vesper | April | 5,000 VSP | $200,000 | 190,693.49 | $26,338,584.84 |
New Product: Yield Token Cover
We have a new product coming soon that is specifically designed to cover vault/strategy products like Idle. The idea is we cover all risk for a particular vault by allowing the user to swap $100 worth of LP tokens for $90 DAI at any time (or ETH for an ETH based vault). It’s like a put option on the same currency, which therefore covers all technical risk of the LP token depegging.
If you wanted to run shield mining I’d suggest waiting until then and perhaps running 2 or 3 campaigns across the vaults you want covered. eg DAI and USDC as they seem to be your two largest vaults.