Nexus Mutual is the OG on-chain insurance alternative — a member-owned mutual protecting $100M+ against smart contract exploits, custody failures, ETH slashing, and depegs, with $18M+ paid in claims since 2019.
Members stake capital to underwrite risk; buyers pay premiums; valid claims are paid from the pool.
The Capital Pool backs every active cover. MCR (= active cover ÷ 4.8) is the solvency floor — below it, no new cover can be issued.
KYC'd members deposit ETH, USDC, or cbBTC and receive NXM minted on the RAMM bonding curve around book value. More capital raises solvency and cover capacity.
Live signals detected by Sentinel monitors across all five risk classes.
See each alert's affected component, root-cause analysis, and recommended action. Pro members get the full risk breakdown for every protocol.
DeFi users lose billions to smart-contract exploits, custody failures, slashing, and stablecoin depegs every year, but traditional insurance carriers will not underwrite on-chain risk. Existing crypto insurance products are mostly opaque or unproven.
A member-owned discretionary mutual where KYC-verified members pool capital (ETH/USDC/cbBTC), purchase tokenized cover NFTs against named risks, and vote on-chain to assess and pay out valid claims. $18M+ claims paid since 2019.
The category definer: longest-running on-chain insurance alternative (6+ years), only protocol with a real claims-payout track record across major exploits (FTX, Arcadia, Beefy, Rings, Harvest). RAMM token model and tokenized cover NFTs are first-of-kind. Hugh Karp brings 15 years of Munich Re TradFi insurance experience.
Nexus Mutual is a Insurance protocol operating on Ethereum. Nexus Mutual is the OG on-chain insurance alternative — a member-owned mutual protecting $100M+ against smart contract exploits, custody failures, ETH slashing, and depegs, with $18M+ paid in claims since 2019.
A member-owned discretionary mutual where KYC-verified members pool capital (ETH/USDC/cbBTC), purchase tokenized cover NFTs against named risks, and vote on-chain to assess and pay out valid claims. $18M+ claims paid since 2019.
DeFi Sentinel rates Nexus Mutual A with a safety score of 71/100, indicating low-to-moderate risk. The score reflects five risk dimensions: smart contract & technical risk, economic design & market risk, governance & centralization, sustainability & competitive position, and reputation & social trust. Nexus Mutual has 13 audits on record. DeFi Sentinel's analysis flagged 5 medium, 5 low risk alerts across Smart Contract & Technical Risk, Economic Design & Market Risk, Governance & Centralization, Sustainability & Competitive Position and Reputation & Social Trust. As with all DeFi protocols, residual risk remains and users should review the full risk breakdown before depositing.
Nexus Mutual has a DeFi Sentinel safety score of 71/100 (rating A), last updated July 8, 2026. The score is computed across smart contract & technical risk (30%), economic design & market risk (25%), governance & centralization (20%), sustainability & competitive position (15%), and reputation & social trust (10%).
Nexus Mutual is deployed on Ethereum.
Yes. Nexus Mutual has 13 audit reports on record from firms including Solidified, G0 Group, iosiro. Audit reports and dates are linked under the Resources tab on this page.
