Nexus Mutual
NXM Rank #269Price chart
What is Nexus Mutual?
Mutual structure
Nexus Mutual and NXM launched on 30 May 2019. Hugh Karp founded the project. Members collectively own the capital pool and use the protocol to buy cover, underwrite risk and govern the mutual. Cover products specify the losses and circumstances that can support a claim. Claims are assessed against those terms through the mutual's claims process. Cover is discretionary rather than an insurance contract with an automatic payment obligation.
Underwriting and membership
Holding and transferring native NXM requires Nexus Mutual membership. Joining requires identity verification and acceptance of the membership agreement. Members can stake NXM in underwriting pools managed against selected cover products. Staking increases the capacity available to sell cover. Underwriters receive a share of cover fees for taking that exposure. Successful claims can burn the NXM staked against the affected cover.
Token model
NXM supply changes through protocol minting and burning rather than a fixed mining schedule. The capital pool provides the economic backing for the token. Members swap between NXM and ETH through the Ratcheting Automated Market Maker. Its two virtual pools manage buy and sell liquidity around the mutual's capital position and book value. NXM also gives members voting power over protocol and DAO decisions.
Where to trade NXM
Exchanges that list this asset
Live spot quotes from connected exchanges
NXM funding rates
Live perpetual funding on every connected exchange. Positive = longs pay shorts.
Contracts & chains
Exact contract or mint per network — the identity layer used for DEX routing.
On-chain routes
Networks with a connected DEX routing adapter.