![]() Spokespersons for Nexus and Star Health declined to comment on the deal while others did not respond to queries seeking comment. Other anchor investors include state-owned State Bank of India Life Insurance (SBIL.NS), SBI Mutual Fund, HDFC Life Insurance (HDFL.NS), HDFC Mutual Fund and Star Health Insurance, they added.Īpart from Canadian investment firm Brookfield, other foreign investors include U.S-based Jane Street and Asian fund Prusik Investment management, both the sources said. ![]() Indian conglomerate Tata Group is investing in the IPO via its unit Tata Investment Corporation (TINV.NS), the sources, who did not want to be named because the discussions are private, said. Apple Inc (AAPL.O) last month opened its second fully-owned store in India in a Nexus-owned shopping mall in New Delhi. Nexus Malls owns 17 commercial properties across 13 Indian cities. The IPO, the first-ever by an Indian retail REIT, comes at a time when volatile markets and global macroeconomic challenges have scuppered or delayed various listing plans in India.īlackstone Inc (BX.N)-owned Nexus is seeking a valuation of about $3 billion and plans to raise about $390 million in the share sale, a newspaper advertisement showed on Wednesday. Evan van Ness - Founder of WeekInEthereum.BENGALURU, May 3 (Reuters) - Brookfield Asset Management and Tata Group are in talks to invest in the upcoming initial public offering (IPO) for Nexus Malls, betting that the Indian real estate investment trust will benefit from a rise in the country's consumption levels, two sources told Reuters.Steve Barker - Founder and CEO, SwapForex.Kayleigh Petrie - Marketing, Communications and Engagement.The Nexus foundation previously raised $1.4 million from an NXM token issuance in 2018. When the early token sales took place, NXM was acquired by investors at around $2 per token. In February 2021, Nexus Mutual received a $2.7 million tranche to its foundation treasury, the not-for-profit umbrella organization charged with selling NXM tokens to fund the core development of the protocol. The contribution was led by Collider Ventures with participation from Nick Tomaino’s 1confirmation, Blockchain Capital, VersionOne, Dialectic, 1kx, and several angel investors.Īs of February 16, 2021, Nexus Mutual has sold over $872M in active covers and paid $14.5M in premiums to its members. The first steward of the multisig wallet controlling the community fund will be Roxana Danila (CTO at Nexus Mutual). The other council members will include Nexus Mutual's investors and community members. The fund’s multisig stewards can spend up to 250,000 NXM as they see fit, for example on additional staking rewards, grants for outstanding community contributions or project development, or marketing expenses. In December 2020, Nexus Mutual conducted a community vote asking whether the fund should be established by minting new NXM tokens, thus inflating the supply. The community was in favor of the proposal. Initially, the proposal intended to mint 100,000 NXM. Instead, the community decided on a budget of 250,000 NXM with a small majority. Ī bonding curve allows tokens to be purchased at any time at variable prices based on the amount of capital is locked in the mutual and how much of the capital is needed to payout the covers within the system. Members are also entitled to a share of any capital held in excess of what’s necessary to pay potential claims. In other words, the more capital in the mutual, the higher the price of NXM. This is important to note as Nexus Mutual did not conduct a traditional ICO nor are they planning to list on secondary exchanges. ![]() The NXM token represents the membership rights of its holders along with the ability to participate in the ecosystem through claims assessment, risk assessment, and governance. The token model leverages a bonding curve (or a continuous token model) to determine the price of NXM driven by two main factors - how much capital mutual has and how much capital the mutual needs to meet all claims within a certain probability. The centralized exchange cover from Nexus pays a claim if an exchange gets hacked and the user loses more than 10% of their funds, or if withdrawals are halted for more than 90 days. Nexus announced it would provide insurance not only for Decentralized Exchange (DEX), but also for well-established cryptocurrency exchanges such as Coinbase, Binance, Kraken, and Gemini in January 2021. Nexus Mutual ( NXM ) uses a risk-sharing pool to allow anyone to purchase an insurance cover or contribute capital to the pool for future rewards. Members can contribute Ether (ETH) into the pool in return for NXM, the protocol's native token.
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