Members can purchase cover products that protect against different kinds of risk. Currently, the mutual offers a variety of cover products for crypto-native risks. The protocol does support product development for new types of cover, such as cover for real world risk and other types of crypto-native risk.
Members can choose from five crypto-native cover products:
- Protocol Cover. For crypto assets deposited in a single protocol deployed on EVM-compatible networks.
- Protection against a range of loss events caused by exploits, oracle price manipulation, economic design failure, and governance attacks
- ETH Staking Cover. For validator operators who are staking ETH.
- Protection against penalties, slashing events, and missed rewards
- Custody Cover. For crypto assets deposited on a centralized crypto custodian.
- Protection against custodial hacks and custodial withdrawals that are halted for more than 90 days
- Yield Token Cover. For crypto assets deposited into a vault strategy that is exposed to multiple protocols.
- Protection for yield-bearing tokens against any loss event that causes the yield token's market value to depeg from its intended value (i.e., face value)
- Excess Cover. For crypto-native cover providers and other protection providers.
- Protection for underlying risk covered by a cover provider
In the following pages, you can learn more about each of Nexus Mutual's cover products and the development process for new cover products.