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Cover Products

Members can purchase cover products that protect against different kinds of risk. Currently, the Mutual offers a variety of cover products for onchain and real world risks. The protocol does support product development for new types of cover, such as cover for real world risk and other types of onchain risk.

Members can choose from various onchain cover products:

  • Protocol Cover. For onchain assets deposited in a single protocol deployed on EVM-compatible networks.
    • Protection against a range of loss events caused by smart contract hacks/exploits, oracle manipulation or failure, severe liquidation failures, and governance takeovers.
  • Bundled Protocol Cover. For onchain assets deposited in a protocol that uses an underlying strategy where funds are deployed into other protocols on EVM-compatible networks. Bundled Protocol Cover provides full-stack protection across multiple protocols in the strategy.
    • Protection against a range of loss events caused by smart contract hacks/exploits, oracle manipulation or failure, severe liquidation failures, and governance takeovers.
  • DeFi Pass Cover. All-in protection across the leading protocols in a network's ecosystem and any related sub-protocols used in the covered protocols underlying strategy. Flexible cover that allows you to move your funds between these protocols while maintaining your protection all for a fixed price.
    • Protection against a range of loss events caused by smart contract hacks/exploits, oracle manipulation or failure, severe liquidation failures, and governance takeovers.
  • Native Protocol Cover. For DeFi teams that want to purchase protection for their users at the protocol layer. Teams can purchase protection for up to $25M to protect some or all of their TVL against the common causes for onchain hacks/exploits.
    • Protection against a range of loss events caused by smart contract hacks/exploits, oracle manipulation or failure, severe liquidation failures, and governance takeovers.
  • Fund Portfolio Cover. Holistic protection across a fund's yield-generating portfolio that allows investors to earn a profitable yield while being protected from worst case scenarios arising from smart contract risk, governance attacks, and more.
    • Protection against a range of loss events caused by smart contract hacks/enpmxploits, oracle manipulation or failure, severe liquidation failures, governance takeovers, and more.
  • ETH Slashing Cover. For node and validator operators looking to protect against slashing events.
    • Protection against slashing penalties.
  • Quota Share Cover. For onchain cover providers and other protection providers.
    • Protection for underlying risk underwritten by a cover provider.
  • Real World Risk. An overview of the Mutual's products that use onchain capital to underwrite risk in traditional markets.

In the following pages, you can learn more about each of Nexus Mutual's cover products and the development process for new cover products.