Nexus Mutual, the crypto
Nexus Mutual is a decentralized insurance platform that operates as a type of mutual where members pool their funds to provide coverage against smart contract failures and other risks in the crypto space. It is built on the Ethereum blockchain and uses a native ERC-20 token called NXM.
The main point of Nexus Mutual is to provide insurance coverage for crypto assets, mainly smart contracts, in a decentralized and trustless manner.
Nexus Mutual tries to solve the problem of the lack of trustworthy and reliable insurance for smart contracts and other crypto assets. Traditional insurance companies are not familiar with crypto assets or smart contracts and do not provide suitable coverage for them. Therefore, Nexus Mutual aims to provide decentralized and transparent insurance coverage that can be trusted by the crypto community.
We used an AI to answer three questions about NXM, so take this info with a grain of salt.