05/12/2024
BTC60,936.0
ETH2,927.44
USDT0.999732
BNB593.78
SOL145.27
USDC0.99999
XRP0.503006
DOGE0.141038
BUSD0.997258

Nexus Mutual (NXM) Price

NXM
4,5
$63.58
Market cap
253,413,275.0
Total volume
0
Circulating supply
3,985,428
Total supply
3,985,243
Nexus Mutual operates as a decentralized insurance platform anchored on the Ethereum network, specializing in offering safeguarding measures for smart contracts within Ethereum's ecosystem, encompassing the primary decentralized finance (defi) protocols. This service provides a safety net against the malfunctioning of smart contracts, shielding users from potential flaws in the programming of these contracts.

The aim of this protection is to mitigate the financial repercussions arising from cyber-attacks or manipulations in the smart contract code. It's important to note that the coverage is specifically designed to shield against "unintended uses" of smart contracts, hence incidents like the misplacement of private keys or issues pertaining to centralized exchange breaches fall outside its scope. In December 2020, Nexus Mutual expanded its offerings to include custody coverage, extending its protection to centralized custodians and lenders, including prominent names like Celsius, Blockfi, and Nexo.

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