Audits and Security

Can you cover Nexus Mutual yourselves?

No. However, we fully understand that due to being a smart contract that protects the community against hacks in other smart contracts, we need to be very secure ourselves.
Therefore, in addition to our ongoing checks and external reviews during the build phase we have had our code reviewed by three independent experts through an audit with Solidified. See the audit report.

What if there is a bug in Nexus Mutual's smart contracts?

This is indeed a risk and it is why we have not only performed extensive internal testing and external audits but we have also launched with some emergency functionality (that is intended to be removed once the contracts have become more battle-tested).
From a cover holder perspective, by purchasing cover with Nexus Mutual you still get significant peace of mind from an additional safety net. As an example, say there is a 1% chance that the chosen smart contract has a bug and also a 1% chance that Nexus Mutual has a bug. By purchasing cover only one contract needs to be secure for you to either suffer no issue or receive a claim payment. Overall, you've increased your safety margin from 1 in 100 to 1 in 10,000.