Nexus Mutual
Financial Services - N/A, N/A, UK
Nexus Mutual Details
Nexus Mutual is a decentralised alternative to insurance.Nexus Mutual uses the power of Ethereum so people can share risk together without the need for an insurance company. Risk assessors (any member who wants to stake) stake on contracts they think are secure. This enables other members to purchase cover on those contracts. Risk assessors are rewarded with 50% of the cover purchase price (divided proportionally between stakers) and get burned if there is a successful claim. Smart Contract Cover allows community members to secure risk and potential bugs in smart contract code. Members can protect themselves against events like The DAO hack or Parity multi-sig wallet issues.Custody Cover enables members to purchase cover on centralised custodians and exchanges. Members are protected in situations where the user loses more than 10% of their funds, or if withdrawals from the custodian are halted for more than 90 days.The mutual is fully owned by the members who also vote in governance as well as claims assessment. Big changes for the mutual are discussed on the community forum (https://forum.nexusmutual.io/) as well as in our Discord server (https://discord.gg/ZM43HaMRt6). You can follow us on Twitter @NexusMutual or join our Telegram (https://t.me/nexusmutual) to chat with the team and the community.
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