Nexus Mutual is a digital cooperative built on Ethereum, allowing users to cover themselves against hacks and bugs in smart contracts.
The purpose is to bring back the original community model from which insurance originated in a way where trust and capital provision is scalable.
Bonding Curve - Nexus Mutual uses a formula-based price for its token model depending directly on the financial position of the mutual.
Pricing & Risk Assessment - Cover prices are based on the characteristics of the smart contracts and how much value is staked against them.
Capital - Nexus Mutual calculates its capital requirement using a framework derived from Solvency II.
Claims Assessment - Claims are deemed valid via member voting.
Governance - A membership organisation governed by token voting and an Advisory board. Legally wrapped in a UK discretionary mutual.