Nexus Mutual

by  Collective Risk Services CIC (“Nexus Mutual”)
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A decentralized protocol for insurance, based on the Ethereum blockchain.

Nexus Mutual description

Nexus Mutual is an insurance protocol for providing additional security to users' digital assets. This information is from c​ommunity cryptodefix. Nexus Mutual provides insurance against smart contract errors and hacking. The platform supports more than 200 tokens and protocols that users can insure.

Nexus Mutual’s insurance covers potential errors in the smart contract code or hacking. Loss of private keys or hacking of a centralized exchange are not covered by insurance. To start working with Nexus Mutual, you need to attach your wallet. Then you can select an asset, select the insurance period and the amount to be insured.

The cost of insurance with Nexus Mutual depends on several factors: the characteristics of the smart contract to be insured; the sum insured; the insurance period and the value of the assets put by the risk assessors on the smart contract. To purchase insurance and participate in the valuation, an NXM token must be purchased. It is used to perform transactions within the platform.

Specific features of Nexus Mutual

  • Insurance for users’ smart contracts
  • Own NXM token for transactions within the platform
  • Protection against hacking and errors in smart contracts
  • User participation in risk assessment
  • Rewards for participation in assessment

Nexus Mutual features

DeFi Projects

Blockchain types: Ethereum 0
Reviews

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Nexus Mutual runs on Blockchain technology to cover its users against Smart contract failure. This it achieves through the power of ETH facilitating the sharing of risk together without the need of insurance companies. The trading volume and liquidity of this exchange is not impressive at all, the exchange build up on what to trigger and boost the level of the trading volume. The support teams are very fast at responding to messages. Nexus Mutual also act or function as a financial institution or an insurance firm and seek highly to protect against failed smart contract that users involves themselves.