Nexus Mutual (NXM)

Nexus Mutual (NXM) is an insurance alternative for the cryptocurrency industry and beyond. With a focus on providing deep capacity and complete transparency, Nexus Mutual has underwritten over $4 billion in cover, paid over $17 million in claims, and maintained an active cover worth $69 million. The platform offers comprehensive cover for risks, including protocol failures, penalties, missed rewards for ETH validators, depegging events for interest-bearing tokens, and losses on centralized exchanges. Additional cover options, such as D&O cover and real-world risk protection, are coming soon.

Nexus Mutual operates as a member-powered insurance alternative where experts manage pooled capital, underwrite risk, and provide cover within a globally accessible risk marketplace. Members can purchase cover products to protect against supported risks, with cover capacity sourced from staking pools. Risk is assessed and managed in individual staking pools, allowing members with expertise to create pools, manage staked NXM, underwrite risk, and earn fees. In the upcoming V2 release, members can delegate their staked NXM, provide liquidity to risk experts, and earn rewards when others purchase cover.

The security of the Nexus Mutual protocol is a top priority, with the code being reviewed by industry-leading auditors. The team collaborates with Immunefi to manage a bug bounty program, incentivizing responsible vulnerability disclosures. Nexus Mutual strives to inform users through weekly updates, ensuring transparency and trust within its risk marketplace. Users can access the platform’s analytics, documentation, and developer resources for more information. Nexus Mutual prioritizes governance, careers, and maintaining a strong brand identity.