Nexus Mutual
AuditedVerifiedOGNexus 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.
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Score history
This rating is re-checked every month. A point is recorded for every check, so a flat line means we looked and nothing moved. Hover anywhere on the chart to see what moved that month, and by how much.
The Problem
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.
The Solution
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.
Why it Matters
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.
Protocol Metrics
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View allFrequently asked questions about Nexus Mutual
What is Nexus Mutual?+
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.
How does Nexus Mutual work?+
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.
Is Nexus Mutual safe?+
DeFi Sentinel rates Nexus Mutual A with a safety score of 77/100, 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 4 medium, 1 low risk alerts across Smart Contract & Technical 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.
What is the safety score of Nexus Mutual?+
Nexus Mutual has a DeFi Sentinel safety score of 77/100 (rating A), last updated September 16, 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%).
Which chains does Nexus Mutual support?+
Nexus Mutual is deployed on Ethereum.
Has Nexus Mutual been audited?+
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.