Nexus Mutual NXM

1. Summary

Ranks

Liquidity

60

Developer

-

Social

80

Momentum (beta)

0

Stack Rank™

-

Price

$71.49 +6.4%

Market Cap

$265.39M (#210)

Supply

3.81M / 3.81M

Tags

DeFi Insurance Ethereum Ecosystem

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Price
52W High price	$83.96
52W High date	2nd Jun 2024 (1 month ago)
All Time High (ATH) Date	10th Nov 2021 (2 years ago)
ATH Price	$185.97
% From ATH	-58.87%
All Time Low (ATL) Date	22nd Jul 2020 (4 years ago)
ATL Price	$6.96
% From ATL	998.62%

Supply & Trading Volume
Total Supply	3.81M
Max Supply	3.81M
Circulating Supply	3.81M

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Description

Nexus Mutual is a decentralized insurance protocol built on the Ethereum blockchain. It provides coverage against smart contract failures, protecting against potential bugs in smart contract code and financial losses due to hacks or exploits. The protocol offers a range of cover products, including protection against failures in individual protocol...

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Nexus Mutual is a decentralized insurance protocol built on the Ethereum blockchain. It provides coverage against smart contract failures, protecting against potential bugs in smart contract code and financial losses due to hacks or exploits. The protocol offers a range of cover products, including protection against failures in individual protocols, penalties and missed rewards for ETH validators, depegging events for interest-bearing tokens, and losses on centralized exchanges.

The Nexus Mutual DAO is a decentralized autonomous organization (DAO) wholly owned by its members, who contribute to the protocol and participate in governance through the NXM token. Members can purchase cover products using NXM and participate in risk assessment and claims management. The protocol operates a risk sharing pool, where funds are used to pay out claims.

Nexus Mutual is structured as a limited by guarantee business in the United Kingdom and is governed by its members through its DAO, which includes an advisory board of company founders and industry experts. The protocol also employs an Ethereum-based system for assessing and accepting coverage proposals, and uses the NXM token to manage risk and provide rewards to members.

Key Features:

• Risk Management: Nexus Mutual provides a decentralized insurance alternative for various crypto risks, ensuring peace of mind for users.
• Decentralized Governance: The Nexus Mutual DAO allows members to participate in governance and decision-making processes.
• Risk Sharing Pool: Members contribute to a risk sharing pool, which is used to pay out claims when necessary.
• Multi-Faceted Token: The NXM token serves purposes beyond insurance, including governance, risk assessment, and rewards management.

Security and Audits:

• Industry-Leading Auditors: The Nexus Mutual protocol code has been reviewed by industry-leading auditors to ensure the highest security standards.
• Bug Bounty Program: The protocol maintains a bug bounty program through Immunefi to incentivize responsible vulnerability disclosures.

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