# Nexus Mutual

> The first crypto insurance alternative: covering crypto since 2019

Nexus Mutual is a decentralized insurance alternative on Ethereum where members buy cover against smart contract hacks, custody failures, and depeg events.

Cover products span single and multi-protocol protection, ETH slashing, custody failure, depeg events, and fund portfolio coverage for both individual and institutional users. Members stake NXM to underwrite cover capacity and earn a share of premiums, while a decentralized assessment process governs claim outcomes. The protocol operates as a discretionary mutual governed by NXM holders through onchain proposals and Snapshot voting.

- Type: Protocol
- Sector: Insurance
- Status: Active
- Founded: 2019-05-01
- Profile: https://thegrid.id/profiles/nexus_mutual

## Products

- [Nexus Mutual](https://thegrid.id/profiles/nexus_mutual): Nexus Mutual is a decentralized discretionary mutual deployed on Ethereum where members pool capital to provide and share risk coverage. Members purchase cover against smart contract exploits, oracle failures, governance attacks, liquidation failures, custody failure, and validator slashing across EVM-compatible networks. Available cover types include Single Protocol Cover, Multi Protocol Cover, DeFi Pass Cover, Native Protocol Cover, Fund Portfolio Cover, ETH Slashing Cover, Quota Share Cover, and Crypto Kidnap & Ransom Cover for physical security risks. Members stake NXM to underwrite cover capacity, earn a share of premiums, and participate in decentralized claims assessment. Capital pool assets, claims history, and cover purchases are transparent onchain. (Onchain Insurance, Live, Main Product)
- [Real World Insurance Vault](https://thegrid.id/profiles/nexus_mutual): The Real World Insurance Vault (RWI Vault) is an Ethereum-based vault that allows approved sophisticated investors to earn yield on USDC deposits. Capital is deployed off-chain to provide solvency capital and reserves backing regulated insurance policies. The vault uses the ERC-7540 standard and issues RWIV tokens, which accrue value at a fixed Baseline Yield over time. Additional bonuses are available for longer lock-up periods. Nexus Mutual Cover protects the fixed Baseline Yield, and the Mutual participates in excess returns through a profit share mechanism. Deposits are designed for capital commitments of approximately 18 to 24 months, matching typical insurance product cashflow timelines. (Offchain Insurance, Live)

## Assets

- [NXM (NXM)](https://thegrid.id/profiles/nexus_mutual): NXM is the governance and utility token of Nexus Mutual, a decentralized insurance protocol on Ethereum. It is used for voting on protocol upgrades and parameter changes, staking to underwrite cover capacity in exchange for a share of cover fees, and participating in the decentralized claims assessment process. NXM is minted when members contribute ETH, USDC, or cbBTC to the Capital Pool, with its price managed by a Ratcheting AMM that anchors buy and sell prices relative to the Capital Pool's book value. (Governance)
- [Wrapped NXM (WNXM)](https://thegrid.id/profiles/nexus_mutual): wNXM is a wrapped version of NXM, the governance and utility token of Nexus Mutual. It is used for trading on external exchanges and DeFi platforms where the native NXM token, which requires Nexus Mutual membership to hold and use directly, is not accessible. The wrapping mechanism converts NXM into a standard ERC-20 token, enabling external liquidity and price discovery outside the Nexus Mutual protocol. (Wrapped Tokens)
- [Real World Insurance Vault Token (RWIV)](https://thegrid.id/profiles/nexus_mutual): RWIV is a vault token issued by the Real World Insurance Vault on Nexus Mutual in exchange for USDC deposits. It is used to represent proportional ownership in the vault, with the token value accruing at a baseline yield rate sourced from solvency capital backing regulated insurance policies off-chain. Unlike direct vault interactions, which are restricted to approved sophisticated investors, the RWIV token can be freely transferred and used in other onchain financial applications. (Vault Tokens)

## Links

- [Main](https://nexusmutual.io)
- [Blog](https://nexusmutual.io/blog)
- [Documentation](https://docs.nexusmutual.io/overview)
- [Forum](https://forum.nexusmutual.io)
- [Terms of Service](https://v2.nexusmutual.io/assets/Terms-of-Use.pdf)
- [Privacy policy](https://app.nexusmutual.io/assets/Privacy-Policy.pdf)
- [Twitter / X](https://x.com/NexusMutual)
- [LinkedIn](https://linkedin.com/company/nexus-mutual)
- [GitHub](https://github.com/NexusMutual)
- [YouTube](https://youtube.com/@nexus_mutual)
- [Substack](https://nexusmutual.substack.com)

## Legal

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The following applies to both licensing models.
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- [Data Licensing & Disclaimers](https://about.thegrid.id/legal/data-licensing-and-disclaimers): Licensing models and disclaimers
- [Open Data (ODbL)](https://about.thegrid.id/legal/open-data): Open Database License terms and scope for The Grid's open data service.
- [Attribution Guidelines](https://about.thegrid.id/legal/open-data-attribution-guidelines): How to attribute The Grid's data when using the open data service.
- [Web Services Terms](https://about.thegrid.id/legal/web-services-terms): commercial Terms for using data services.
- [All Legal Documents](https://about.thegrid.id/legal): Full index of terms, policies, and disclosures

## Optional

- [TGS Field Descriptions](https://github.com/The-Grid-Data/workspace-public/blob/main/references/tgs-field-descriptions.md): Schema field definitions for The Grid's data model
- [TGS JSON Structure](https://github.com/The-Grid-Data/workspace-public/blob/main/references/tgs-json-structure.md): Data model structure and relationships
- [Product Type Definitions](https://github.com/The-Grid-Data/workspace-public/blob/main/references/product-type-definitions.md): Definitions for each product type
- [Product Type Classification](https://github.com/The-Grid-Data/workspace-public/blob/main/references/product-type-classification.md): Guide for classifying products into types
- [Grid MCP Guide](https://github.com/The-Grid-Data/workspace-public/blob/main/grid-search/skills/grid-query/references/grid-mcp-guide.md): How to query The Grid programmatically via MCP