Nexus Mutual (NXM) Price

Name: Nexus Mutual
Brand: Cryptocurrency
SKU: NXM
Price: 69.53 USD
Availability: InStock
Rating: 4,5 (9 reviews)

NXM

Nexus Mutual

4,5

★

$69.53

6.64%

Today's Current Price in US Dollar

Market cap

281,148,063.0

Total volume

Circulating supply

4,043,454

Total supply

4,043,444

Buy / Long

Sell / Short

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.