what's nexus mutual?
Nexus Mutual is a decentralized insurance protocol built on Ethereum, operating as a mutual where members pool funds to provide coverage against smart contract failures, hacks, and other risks in the DeFi ecosystem. It allows users to purchase covers for specific protocols, custodians, or bridges, with premiums paid in NXM tokens. The platform is governed by a DAO, where NXM stakers participate in underwriting, claims assessment, and decision-making. Key features include dynamic pricing based on risk, cross-chain support, and integration with security platforms like Immunefi. As of 2025, it continues to expand institutional partnerships and coverage options for emerging DeFi protocols.
Noon Capital purchases Nexus Mutual cover for its DeFi investment strategies.
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Noon Capital purchases Nexus Mutual cover for its own strategies, providing protocol cover for its DeFi investment operations.
Powers OpenCover's insurance-like product that protects Morpho vault deposits by streaming yield to pay premiums automatically within the same interface.
Integrated with Superform to provide protection coverage for their Flagship WBTC vault, allowing users to earn yield with embedded Nexus Mutual coverage.
Published a preliminary incident report on an incident that occurred at Resolv Protocol on 2026-03-22, covering what happened, how damage spread through DeFi, and what Nexus Mutual covers.
A DAT Fund (KR1plc) holds 70,750 NXM tokens valued at approximately $3.55 million as of 2026-02-25.
Exhibiting at the iconnections conference in Miami with a booth in the Crypto Pavilion.
Is working with Cap Money on novel opportunities involving staked ETH-based yield strategies as underwriting-based alternatives to recursive looping.
Released the Onchain Risk Map & Report 2026 in collaboration with OpenCover on February 13, 2026.
Partnered with Symbiotic and an institutional allocator for institutional second-loss coverage, leveraging restaked collateral.
Sponsors EthCC[9] 2026 as SAPPHIRE tier, featuring 250+ speakers, 15 tracks, 6,500+ attendees.
Hugh Karp from Nexus Mutual is participating in a panel discussion on risk management for digital assets at DAF_Global on 2026-02-05.
Generated $5.5M in premiums for underwriters in 2025, accounting for the majority of the DeFi insurance industry's total revenue.
Distributed over $370,000 in claims to covered members during 2025.
Participates in an AMA scheduled for 2026-01-15 alongside Ultrayield and KelpDAO, focused on achieving high yield in DeFi with risk controls.
Underwrites smart-contract risk coverage for KelpDAO's hgETH product, covering exploits and failures across designated protocols.
NMPIP proposal for Real-World Insurance Vault product is now open for member voting on Snapshot for 3 days, aiming to bring insurance returns to crypto capital.
Crypto insurance V1 model criticized for low yields, narrow coverage, and contentious claims, with prediction markets positioned as superior alternative to traditional crypto insurance providers.
Team presents at Lloyds of London on a new product under development, with release scheduled for January 2025.
Pays $100k in claims due to Stream Finance fallout.
OpenCover processes claims for users affected by Stream Finance incident, with Nexus Mutual Entry/Essential/Elite coverage among eligible policies for payout.
Whitelisted by Nexus Mutual and OpenCover for coverage protection against smart contract exploits, oracle manipulation, liquidation failures, and depeg for yoUSD users. Coverage available on Base chain using cbBTC, ETH, and USDC with 30, 60, or 90-day terms at ~4.8% annual premium, offering self-custodial, EVM-wide protection.
Nexus Mutual integrates with Immunefi Magnus platform as the decentralized cover provider, joining seven other security companies in a unified security command center powered by the $IMU token.
Soft launches Leveraged Liquidation Cover, a new insurance product designed for leveraged positions and depeg protection targeting users looping like-kind assets.
Nexus Mutual discontinues insurance coverage for Balancer V2, now only covers Balancer V3.
Balancer V2 and V3 coverage available at 3.7% annual cost of insured amount.
Protocol reports minimal direct exposure to Balancer v2 hack while investigating exposure through forks and bundled covers.
KR1 plc (LSE:KR1) deployed 40,000 NXM across staking pools to underwrite DeFi risk, supporting a fixed yield stable vault.
Version One Ventures generates $2.2M profit on $NXM with 1,857% ROI across five trades executed this week with 100% win rate.
Stake DAO integration with OpenCover goes live, offering DeFi cover for Curve Finance DEX LPs on Arbitrum, Base, and OP chains at 0.41% per month.
Integration with Stake DAO planned alongside OpenCover, expanding coverage offerings into Stake DAO's DeFi infrastructure.
New integration with Beefy Finance enables coverage at 1.28% for deposits in USDaf Curve Stable Pool vault.
Major platform expansion adds 20+ new cover listings across four protection categories.
New SatLayer partnership enables $50-100M+ in coverage capacity through Bitcoin restaking mechanism.
Strategic institutional outreach event co-hosted with Enzyme Finance in Cannes, targeting 100+ traditional finance leaders and DeFi builders.
New Magnus platform integration enables AI-powered security coverage, with additional protection now available for Revert protocol against smart contract exploits and oracle failures.
Active impersonation scams detected through fake websites and Telegram channels.
New insurance coverage launched for Babylon's Bitcoin staking protocol through strategic partnership.
Record-breaking $16M bug bounty program launches through multi-party collaboration.
Smart money investors actively hold NXM as a top mid-cap DeFi token position.
Historic $16M bug bounty program launches through collaboration with Sherlock and Usual.
Crypto insurance alternative backing new digital assets broker Native, part of new Base DeFi Pass innovation on Coinbase's L2.