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Announcing the Nexus Mutual Bug Bounty Matching Program: a free service offered by the mutual to better protect users of major DeFi protocols. Through our bug bounty matching program and our cover policies, Nexus Mutual is dedicated to protecting a greater share of DeFi.

Nexus Mutual is a member-owned, member-operated organisation, and our members take security in DeFi seriously. Our community voted in favour of a trial Bug Bounty Matching Program with Immunefi, the leading bug bounty platform serving DeFi protocols. …


On 30 August, the C.R.E.A.M. Protocol was exploited for 462,079,976 in AMP tokens and 2,804.96 ETH tokens. A malicious actor executed a reentrancy attack, which led to the loss of $22.8 million in AMP tokens and $4.2 million in ETH. At the time of the attack, Nexus Mutual had 25 active cover policies for C.R.E.A.M. v1 totalling ~$6 million.

C.R.E.A.M. Finance released a post-mortem report that reviewed the loss event, how the attack was executed, how it was handled, and the plan to reimburse affected users. Nexus Mutual has been in contact with the C.R.E.A.M. Finance team regarding the exploit.


In response to the ever evolving demands of the DeFi ecosystem, our users have been calling for more versatile protection against the inherent risks in DeFi. Today we’re excited to launch Protocol Cover to answer these demands.

Following a member vote last month, in addition to protection against smart contract hacks, members with cover are now also protected against:

  • oracle attacks
  • severe economic attacks
  • governance attacks
  • protocols on any chain
  • layer two components.

Introducing Protocol Cover

Protocol Cover is more broad and flexible because it covers everything from Smart Contract Cover plus events related to oracle attacks, severe economic attacks and governance attacks.


The Nexus Mutual Community Fund has been set up, the NXM have been minted and now we’re excited to announce that the first proposals are live for your vote!

How will the Community Fund work?

The Community Fund is in place to support our community to bring their skills and experience to growing and developing the mutual. We’d love to hear from you if you have any ideas, potential projects and collaborations.

Anyone can apply for a community fund grant by filling in this form. Projects should benefit the growth and development of the mutual but aren’t limited otherwise — examples could include anything from writing newsletters to creating videos to building on top of Nexus and beyond.

Our Core Team will review all proposals and make a comment on how each project would help…


The NexusMutual token bonding curve implementation was upgraded! What does that mean for you, and why was it done in the first place? We’ll be diving into the details in this article.

First a quick refresher: Nexus Mutual uses a Continuous Token Model where the token price depends on how the mutual is performing financially and is formula driven where the price value is a function of the MCR% (ratio between total asset value in the pool and the Minimal Capital Requirement).

Check out the token model full explanation to see how NXM aligns incentives and has functionality like voting…


Happy Friday to our Nexus Mutant Community! We are happy to share several updates about the mutual today.

Operation Wartortle Update

Since we received the Operation Wartortle Memorandum, we have been talking to prominent local and international tax, accounting, and law firms about the feasibility and best approach to transition towards statelessness in order to understand if this is possible and, if so, how to do it.

The main issue we need advice on is that of tax implications. This will determine the most viable path forward, and the focus of our current on-going work.

It is reasonably likely that…


The ability to combine different DeFi products is unrivalled in traditional finance. We now have the ability to create the app store of finance, where different components can be combined to create bundled, embedded products in weeks rather than years. It’s hard to imagine exactly where this will lead, experimentation will flow and creative new financial products will be developed. Money legos will reign.

The combination of all these elements is extremely powerful but also almost impossible for regular users to evaluate and understand.

A yield may look attractive but what is the downside risk?

Combining or stacking different code…


You finally decided to dip your toe in and buy some Bitcoin or Ether, and perhaps you even bought some Doge. It was fun, but now what? Markets aren’t as exciting nowadays and you don’t really know what to do with it.

Earn some passive income. We’ll show you how.

There are several options for earning income on your crypto if you know where to look. This article will just focus on the crypto lenders/custodians, those companies which look after or “custody” your crypto on your behalf.

Earning rates correct as at 5-July-2021

Check the latest rates: Nexo; BlockFi; Celsius; Ledn; Hodlnaut; Crypto.com Earn; Yield App


Our members have asked for more detailed information on the staking dashboard, specifically for performance indicators. So members can now see:

  • all time rewards NXM,
  • all time burned NXM,
  • APY%, calculated based on the last week of rewards.

Breakdown per contract for:

  • 1 week-based APY%, 1 week yield, 4 weeks yield, all time yield,
  • rewards distribution events,
  • burn events.
Example of new staking dashboard

Are you a Dune Analytics aficionado? Would you like to contribute to the future of Nexus Mutual?

We are seeking members of the community who can build dashboards on top of Nexus. Get in touch if you have any ideas!

For detailed and technical discussions on our roadmap use our forum.

Join our community on Discord.

For Telegram updates join the announcements channel and discussion group.

For all stats and data visit the Nexus tracker built by Richard Chen.


The recent hack on Yearn Finance resulted in 26 claims from our members.

Nexus Mutual is exactly that, a mutual. That means our members have full discretion over whether to accept a claim or not. Community discussions primarily take place on the #claims-discussions channel in our Discord server where members tend to share expertise and opinions.

Any member can become a Claims Assessor by staking any amount of NXM. Assessing claims in line with the consensus outcome earns Claims Assessors NXM rewards, while voting against the consensus outcome results in the assessors’ tokens being locked up for a longer period than the initial stake to vote.

When assessing claims, Claims Assessors must determine…

Nexus Mutual

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