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Fund Portfolio Cover

This product is designed to cover a fund’s entire yield-generating portfolio. Institutional funds and family offices can purchase Fund Portfolio Cover to earn yield for their LPs while protecting for funds against a worst case scenarios arising from smart contract risk and economic risks.

Covered Risks​

Fund Portfolio Cover provides holistic protection across all of the protocols you have exposure to in your portfolio across numerous networks. The protections include:

  • Smart contract exploits/hacks
  • Severe oracle failure/manipulation
  • Severe liquidation failure
  • Governance attacks

If there are additional risks your fund is concerned about, you can reach out to our team to ask if it can be included in your coverage. Every Fund Portfolio Cover listing has an annex document attached, and additional protections can be added to your cover if requested.

Fund Portfolio Cover Wording​

For more information, read the full terms and conditions of Nexus Mutual's Fund Portfolio Cover.

Proof of Loss​

If your team holds Fund Portfolio Cover and your fund suffers a loss of funds, your team can file a claim and claim assessors will review your claim submission to determine whether your claim is valid.

For Fund Portfolio Cover claims, onchain proof of loss is required. You will file a claim and either sign a transaction using your affected address or send a 0 value transaction with your affected address to prove you own and control that address.

Once you prove that you own and control the affected address, claim assessors can review the onchain history associated with the address to determine:

  • If funds were deposited when the loss event occurred
  • If the cover was active when the loss event occurred
  • If your fund suffered a loss and, if so, the value of the assets that were lost

Claim Filing Process​

After a loss event occurs, your team will need to wait 14 days for the cool-down period to pass. The cool-down period applies for Fund Portfolio Cover claims, per the cover wording.

  1. If your team holds Fund Portfolio Cover at the time the loss event occurs, you can submit a claim with supporting evidence, otherwise referred to as proof of loss.
    • You will be able to include written details, links to supporting documentation, and/or upload screenshots or other files in the Incident Details portion of the claim submission process
    • You will choose to either sign a message from the affected address or send a 0 value transaction from the affected address to prove you own and control the affected address
  2. Claim assessors will review, discuss and vote to approve claims where proof of loss shows that you have indeed suffered a loss of funds.
    • If your claim is approved, you will be able to redeem your claim payout after the 24-hour cool-down period passes in the Your Covers menu. You can also check your Dashboard to see the status of any active claims.
    • If your claim is denied, you will be able to file another claim with more supporting evidence

For a review of the claim assessment process, see the Claim Assessment section.