Nexus Network

Nexus Network operates as a specialized financial infrastructure provider within the cryptocurrency sector, focusing on generating returns from digital assets held in bridge contracts on the Ethereum blockchain. The company was founded in 2023 by Mayank Raj and his co-founder, Rohit. Mayank Raj, the CEO, holds a B.Tech from IIT Bombay and an MBA, with prior experience in consulting at KPMG. His interest in the crypto space began in 2021, leading him to transition full-time into the industry where he connected with Rohit, a developer already working in blockchain. The two collaborated at a previous firm on a liquid staking product, which sparked the idea for Nexus Network as they observed the proliferation of rollup ecosystems and the significant amount of idle assets locked within them.

The firm's core business addresses the inefficiency of assets, estimated to be over $10 billion, that are locked on Layer 1 bridge contracts for Layer 2 rollups and EVM chains, earning no yield. Nexus Network provides a B2B, non-custodial middleware solution that enables these rollups and chains to stake their bridged assets, primarily ETH and stablecoins, to generate a continuous stream of revenue. This model positions Nexus as an economic layer for these platforms, allowing them to enhance capital efficiency. The service is designed as a pluggable infrastructure, requiring minimal changes to a client's bridge contract to integrate. Clients, such as rollup providers and EVM chains, retain full control over their funds as Nexus Network's smart contracts do not take custody of the assets.

To ensure security and decentralization, the company's technology leverages Distributed Validator Technology (DVT) and Distributed Key Generation (DKG). DVT helps to minimize risks associated with validator centralization and potential slashing penalties, while DKG ensures that no single entity holds a complete validator key. The platform manages the entire staking process for its clients, from validator selection and monitoring to handling staking and unstaking operations. Furthermore, Nexus Network offers inbuilt slashing insurance to protect its clients' assets. In June 2024, the company announced it had raised $1 million in a pre-seed funding round led by Hashed Emergent, with participation from coinIX, Mask Network, Founderheads, and several angel investors.

Keywords: Nexus Network, Mayank Raj, Rohit, crypto yield generation, blockchain bridge assets, Ethereum staking, non-custodial staking, Distributed Validator Technology (DVT), rollup economics, EVM chains, stablecoin yield, liquid staking, DeFI infrastructure, Hashed Emergent, capital efficiency crypto, Layer 2 solutions, asset utilization, slashing insurance, pluggable staking, crypto B2B solutions