Founded in 2017 by Hugh Karp, Nexus Mutual is an alternative to insurance for Ethereum users. Members can buy coverage to protect against material losses whentransferring funds into a protocol’s smart contracts or keeping funds with acustodian. Nexus Mutual is a discretionary mutual. Each member holds NXM tokens, whichrepresent proportional ownership of the mutual. Members are responsible forgovernance, capital provision, and risk and claims assessment.