Overview: Start Here

People can join the mutual and become members. Members can buy cover to protect against material losses when transferring funds into a protocol’s smart contracts or keeping funds with a custodian. Nexus Mutual is a discretionary mutual. Each member can hold NXM tokens, which represent proportional ownership of the mutual. The mutual runs on the Ethereum blockchain.
Things our members can do: 
·        Buy discretionary cover products.
·        Contribute funds to the mutual and hold NXM tokens.
·        Share risk with other members.
·        Act as Risk Assessors.
·        Act as Claims Assessors.
·        Put forward governance proposals. 
·       Vote on proposals put forward by the team or other members. 
​
Things the Nexus Mutual team has developed and generally instigates discussion on:
Note: All of these items are open to any member to develop and champion as they wish.
​Base pricing 
This has been calculated by insurance experts, actuaries and advisors based on centuries of actuarial economics.
​Investments 
This feature will be used to maximise return on the pool of funds in the mutual.
Product development
Based on feedback from the community, progression of the Ethereum and DeFi ecosystem and the capacity/expertise of the team.
Things our members are responsible for:
​Governance
Members are encouraged to vote on proposals or put forward their own proposals. 
Capital provision
Members pay a nominal fee for membership and also contribute into the capital pool by either contributing funds directly but also by purchasing cover products.
​Risk assessment
Members can stake against the security of a protocol or custodian and get rewarded for their staking. Enough staking needs to happen before anyone can purchase cover on a protocol and/or custodian. 
Staking Risks: Staking with Nexus Mutual is more knowledge-based than with other DeFi systems and therefore should be undertaken only by members who are prepared to risk losing their stake if there is a successful claim. It should be considered as active rather than passive staking.
Members voted to change the staking system for Risk Assessors to a pooled staking system, which allows assessors to claim rewards weekly in an effort to reduce gas costs.
​Claims assessment
When Nexus Mutual is alerted to a claim, members can evaluate claims and earn NXM rewards for positive, honest contributions to the Claims Assessment process. These members stake NXM, discuss the validity of a claim, review a variety of data and determine whether to pay out on a claim or not through a vote.
A cool-down period of 72-hours takes effect after a loss event occurs. Once the cool-down period ends, claims can be submitted for evaluation. Claims should be resolved within 12-48 hours after they are submitted.
The token
The NXM token represents membership rights in the mutual, with all members owning the mutual together in proportion to their individual NXM holdings.
It runs on a bonding curve which is a mathematical curve that defines the relationship between price and token supply. 
It can only be bought and sold through the Nexus Mutual application. Only members of Nexus Mutual can hold NXM tokens.

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Things our members can do:

Things the Nexus Mutual team has developed and generally instigates discussion on:

Things our members are responsible for:

The token