Membership
The Nexus Mutual DAO operates as a discretionary mutual where people are required to join as members before they can interact with the protocol or contribute within the DAO.
Benefits of membership
Members own the Capital Pool, contribute to the Mutual, and control the protocol through on-chain governance.
Members can:
- Buy discretionary cover products
- Share risk with other members
- Contribute funds to the Mutual and hold NXM tokens
- Stake NXM, underwrite risk, and earn rewards
- Stake NXM, assess claims, and earn rewards
- Create and run risk management businesses
- Put forward and vote on governance proposals
- Contribute to the Nexus Mutual DAO
Becoming a member
Before you complete the membership process, be sure to read the membership agreement and Know-Your-Customer (KYC) requirements.
While the wallet address you use for your whitelisted membership address can be changed later on, it's strongly recommended that you use a hardware wallet to generate an address that will be used as your membership address.
Membership agreement
By becoming a member you agree to the conditions specified in the DAO Member Agreement.
- KYC / AML. To become a member, you will need to verify your identity through the Know-Your-Customer / Anti-Money-Laundering process. If this fails, you won’t be able to join the Mutual.
- You pay an initial membership fee. Membership costs 0.0020 ETH and is required for anyone who joins the Mutual.
- You own part of the mutual. You can buy cover and earn more NXM by helping run the Mutual, including voting on claims, staking NXM, and voting on proposals.
KYC requirements
To become a member, you will need to verify your identity through the KYC process.
- First, select the (Membership) button on the Welcome page.
- Proceed to KYC submission: you will be prompted to submit a photo of your government-issued identification, which will be used in the verification process.
- Pay the 0.0020 ETH fee and finalize your membership.
Unfortunately, the Nexus Mutual DAO cannot accept members from the following jurisdictions. We are working hard to try and reduce this list in the future.
| China | Mexico | Syria |
|---|---|---|
| Ethiopia | North Korea | Trinidad and Tobago |
| India | Russia | Tunisia |
| Iran | Serbia | Vanuatu |
| Iraq | South Korea | Yemen |
| Japan | Sri Lanka |
Participating within the protocol, contributing to the Mutual
Once you have joined as a member, you can participate within the protocol in a variety of ways or contribute to the Nexus Mutual DAO.
- Read the Protocol section to learn more about how you can participate.
- Read the Governance section to learn more about how you can contribute to the Nexus Mutual DAO.