Nexus Mutual Review 2026: Discretionary Crypto Cover, the Capital Pool on Chain, and Who Decides Claims
Nexus Mutual sells cover against crypto failures, but its cover is 'not a contract of insurance': payment is discretionary, and since November 2025 a three-person committee, two of them board members, has decided every claim. The capital pool is on chain and held 40,651 ETH-equivalent ($92.3 million) on November 1, 2026, 583% of its minimum capital requirement; 18.7 million USDC of that is a 'Cover Re investment' figure the board's Safe enters for assets held outside the pool contracts. Nexus has paid $24.7 million of claims since 2020, and no entity behind it publishes audited accounts.
No platform response on record for this review. Is this your platform? Respond or claim it.
What the data actually shows - TL;DR
Nexus Mutual is a discretionary mutual on Ethereum. Members pass KYC, pay a 0.002 ETH fee and can then buy cover, stake NXM to back cover, or hold NXM, the token that represents a share of the capital pool.
Read the full assessmentShow less
Three questions frame it. Will a claim be paid: Nexus says its cover 'is not a contract of insurance' and involves 'only a discretion, not a legal obligation, to pay'. Since November 2025 every claim has been decided by a Claims Committee of three, two of whom sit on the five-person Advisory Board that can also reverse claim votes for fraud.
The record so far: 104 claims paid on chain since 2020, $24.7 million in all, including Rari, FTX, Euler and, in October 2026, a $6.1 million Neutrl depeg claim paid alongside a $6.7 million purchase of the claimant's recovery value. What backs it: the capital pool held 40,651 ETH-equivalent ($92.3 million) at the pin, 583% of the minimum capital requirement the contracts compute. That figure includes 18.7 million USDC described as a 'Cover Re investment', a number the board's 3-of-5 Safe enters for the Re-related holdings and the Neutrl recovery, which sit outside the pool contracts; as a sensitivity, the pool without it is $73.4 million.
The pool has fallen 60% in ETH since the end of 2023, mostly through NXM redemptions, while active cover rose. Who controls it: the same five people are the board, the directors of the UK company and the council of the Panama foundation that received the mutual's assets in 2022. None of these entities publishes audited accounts, and the members' agreement bars suits against other members or the mutual's property without the consent of at least half of other members.
Capital pool on chain at November 1, 2026: 40,651.5 ETH-equivalent at $2,269.67, equal to the contract's own pool value to the wei; as a sensitivity, $73.4M without the board-entered Cover Re figure.
Holdings outside the pool contracts, counted through SafeTracker at a figure the Advisory Board Safe enters with no timelock: 12.0M carried from the 2024 Re investment (since redeemed into reUSDe and a Fern Re commitment) and 6.74M paid on October 15, 2026 for the recovery value of a Neutrl claimant's NUSD position; 20.3% of the counted pool.
Claims paid on chain since 2020 across 104 accepted claims; the docs' '$18.5M ... as of August 2026' matches the chain to that date, and the public claims ledger ends at claim #37, before the two October 2026 Neutrl claims.
Claims Committee members who also sit on the five-person Advisory Board; two of the three assessors decide each claim, and the board can reverse votes for fraud.
Fall in the capital pool measured in ETH from 101,320 (end 2023) to 40,652; NXM redemptions through the Ramm returned 68,041 ETH from January 2024 to the pin, while active cover rose from 23,278 to 33,446 ETH.
No public audited financial statements located for any Nexus entity; the UK company's accounts are unaudited in every year and two years were filed as dormant.
Chain figures are AltStreet's read-only reads at the pinned block and archive reads at quarter ends. Claims totals in USD use Chainlink ETH/USD at each payout block. Cover fees, investment returns and 2025 results are Nexus's own figures, unaudited. Companies House figures are from the scanned filings of Nexus Mutual Limited and Collective Risk Services CIC.
Quick Verdict
Is this platform right for you?
Nexus Mutual has a long record of paying large crypto claims from a capital pool anyone can read on chain. Its cover is discretionary, its claims are decided by three people tied to a five-person board that also runs the treasury, upgrades and most staking, one-fifth of its counted capital is a figure that board reports, and none of its entities publishes audited accounts.
Best for
- Crypto funds and protocols that want cover for specific on-chain risks, read the wording, and accept discretionary payment.
Avoid if
- You need a legally enforceable insurance contract.
- You need audited financial statements.
- You want yield from staking without exposure to claims, governance and pool size.
Top strengths
- $24.7 million of claims paid since 2020, including several multi-million events.
- Capital pool, MCR, covers and claims readable on chain and matching the contracts.
- Smart contracts audited by iosiro for each release; 24-hour timelock on proposals.
Key limitations
- Discretionary cover decided by three assessors, two of them board members, with no appeal stage.
- One-fifth of the counted pool is a board-entered figure for off-pool holdings; the pool has fallen 60% in ETH since end-2023.
- No audited accounts; a member agreement that limits suits; undisclosed counterparty role of a board member.
- Largest claim settled with the recovery value bought for cash and counted in the pool at that price, on terms that are not public.
Compare Before Deciding
Where Nexus Mutual fits against alternatives
Use these hooks to pressure-test whether this is the right platform, or whether a nearby alternative matches the job better.
How this compares to Re Review
Re Review
Reinsurance yield tokens; Nexus invested in Re's reinsurer.
How this compares to Figure Markets Review
Figure Markets Review
On-chain lending pools reconciled on chain.
How this compares to Paxos Review
Paxos Review
Tokens with attested reserves.
Quick Answers
What most investors want to know first
The highest-signal facts first: minimums, liquidity reality, K-1 timing, and whether distributions are actually part of the experience.
Liquidity
wNXM trades on markets; NXM itself transfers only between members.
K-1 Timing
Not applicable.
Distributions
Realized on Ramm redemption.
Overview
Platform Overview
A concise read on what the platform is, how the structure works, and where the practical friction shows up for real investors.
Nexus Mutual operates as a 'stateless DAO without ultimate legal personality' under a DAO Member Agreement governed by British Virgin Islands law. In February 2022 the UK company Nexus Mutual Limited resolved that 'All assets of the Company shall be transferred to the Terrapin International Foundation', a Panama private interest foundation, and its members moved to the DAO agreement; the Advisory Board is 'formally constituted as the Foundation Council of Terrapin International Foundation'. Collective Risk Services CIC, controlled by founder and CEO Hugh Karp, operates the website and app. Members buy cover as NFTs through the app or distributors such as OpenCover, stake NXM in pools that back specific covers, and govern the protocol through the Advisory Board and member votes.
It moved from a UK company to a BVI-law DAO wrapped by a Panama foundation in February 2022, opened the Ramm in November 2023, moved to the v3 contracts and a permissioned Claims Committee in October and November 2025, and added Kidnap & Ransom, Vault and non-EVM cover in 2026. At the pin there were 252 active covers worth about $75.5 million, 32 staking pools (9 with stake) and about 9,620 members.
Who can buy
Members only: KYC (Sumsub) plus a 0.002 ETH fee; 27 restricted countries, not including the United States or United Kingdom.
Products
Protocol, Crypto (custody, depeg, slashing), Fund Portfolio, Leveraged Liquidation, Vault, Kidnap & Ransom, The Retail Mutual, Baseline Yield and others; 209 active listings on November 1, 2026.
Pricing
Per listing, set by staking pool managers within board floors; live median 1.885% a year, lowest 0.17%.
Claims
Discretionary; Claims Committee of three since November 2025, 2 of 3 decide; 0.05 ETH deposit; 30-day redemption window.
Capital pool (Nov 1, 2026)
40,651.5 ETH-equivalent ($92.3 million); MCR 6,968 ETH (583%); 18.7 million USDC of it is a board-entered Cover Re figure.
NXM
1,555,392 supply; book value 0.026136 ETH; minted and redeemed through the Ramm, with prices starting 1% above or below book value and moving with trade size; wNXM trades freely.
Accounts
None audited; UK company accounts unaudited and partly dormant; contracts audited by iosiro for each release.
Visual Summary
The capital pool, read on chain
Archive reads at quarter ends; pool value includes the SafeTracker Cover Re figure from May 2024; USD at Chainlink ETH/USD on the date.
Dec 31, 2023
Pool (ETH)
101,320
MCR (ETH)
4,835
MCR ratio
2,095%
NXM supply
4,607,770
Book value (ETH)
0.021989
Dec 31, 2024
Pool (ETH)
75,143
MCR (ETH)
14,501
MCR ratio
518%
NXM supply
3,270,409
Book value (ETH)
0.022977
Dec 31, 2025
Pool (ETH)
47,274
MCR (ETH)
10,621
MCR ratio
445%
NXM supply
1,904,130
Book value (ETH)
0.024827
Jun 30, 2026
Pool (ETH)
47,852
MCR (ETH)
15,250
MCR ratio
314%
NXM supply
1,717,196
Book value (ETH)
0.027866
Nov 1, 2026
Pool (ETH)
40,652
MCR (ETH)
6,968
MCR ratio
583%
NXM supply
1,555,392
Book value (ETH)
0.026136
Investor Operations
The practical questions investors actually care about: when tax documents arrive, how cash distributions work, and whether capital can be exited before the underlying asset is sold.
Tax Documents
K-1 Timing
What to expect
Not applicable.
Cash Flow
Distributions
Frequency
None; value accrues to NXM book value and staking rewards.
Timing
Realized on Ramm redemption.
Consistency
Book value per NXM rose from 0.0220 ETH (end 2023) to 0.0261 ETH (November 2026).
Liquidity
Exit Reality
Holding period
None for unstaked NXM beyond Ramm limits; staked NXM locked to tranche end.
Exit options
- Ramm redemption at a price starting 1% below book value, with price impact.
- Wrap to wNXM and sell on markets.
- Staking withdrawal after tranche expiry.
Secondary market
wNXM trades on markets; NXM itself transfers only between members.
Investment Structures
NXM
Membership and capital token; book value is the pool divided by supply; minted and redeemed only by members through the Ramm; can be burned when staked against covers that pay claims.
Staking pools
Stakers lock NXM in 91-day tranches up to 728 days to back covers; earn half of cover fees in NXM (main pools about 2.0% to 2.6% at the pin); manager fees 10% to 20%.
Real World Insurance Vault
USDC loan to an unnamed Vault Operator supporting regulated insurers, first partner Re; Baseline Yield protected by Nexus cover; KYC/KYB and sophisticated-investor checks; withdrawals about 90 days.
Risk
Risk Structure
This is where the marketplace pitch gives way to the actual operating reality: delayed exits, limited disclosure, fee drag, and path-dependent outcomes.
Claim
Discretionary cover; 'not a contract of insurance'; decided by a three-person committee, two of whom sit on the board.
Capital
On-chain pool of 40,651.5 ETH-equivalent including an 18.7 million USDC figure the board enters; MCR ratio 583% at the pin.
Exit
NXM redeemed through the Ramm at a price starting 1% below book value and moving with size, subject to its liquidity and a cumulative circuit breaker; staked NXM locked.
Control
Five people are board, UK directors and Panama council; three votes plus 24 hours for upgrades; two of six keys can pause.
Reporting
No audited accounts for any entity; quarterly reports and monthly newsletters; the chain is the primary record.
Discretionary claims
Payment is a discretion, decided by three assessors, two of them board members, with no appeal stage in the claims process.
Why it matters
A cover buyer's protection depends on that committee's judgment and the wording's exclusions.
Mitigation / verification
Read the full wording for the product, including deductibles, cool-down periods and exclusions, before buying.
Capital pool composition
One-fifth of the counted pool is a board-entered figure covering the Re investment and a Neutrl recovery claim; one-third is an Enzyme vault priced by a feed without an on-chain staleness check.
Why it matters
Book value, the MCR ratio and Ramm prices all depend on these figures, and the Neutrl part depends on what Neutrl pays.
Mitigation / verification
Ask Nexus how the SafeTracker figure is valued and reconciled; check the pool on chain.
Shrinking pool
The pool fell 60% in ETH since end-2023, mostly through NXM redemptions, while active cover rose; the Ramm's sell breaker has about 12,539 ETH left.
Why it matters
A run of redemptions could reduce capacity to pay claims or stop redemptions until governance acts.
Mitigation / verification
Watch the MCR ratio and the Ramm's ethReleased against its limit.
Concentrated control
The five board members pass upgrades, run the treasury and the Cover Re figure, two of them sit on the claims committee, and pools they run hold most delegated stake.
Why it matters
Members depend on their conduct, and the member agreement limits suits.
Mitigation / verification
Ask for a conflicts and recusal policy and the terms of the Neutrl recovery agreement.
ASRisk signals to watch
- Changes to the SafeTracker Cover Re figure.
- The Ramm's cumulative ETH released approaching 125,000 ETH.
- An assessor group for product types 25 to 28.
- Updates to the public claims ledger to include the Neutrl claims.
- Any audited accounts or Terrapin disclosures.
- Neutrl's redemption payments against the $6.74 million recovery value counted in the pool.
Regulatory & Legal Posture
Security Status
Discretionary mutual; no insurance authorization or securities registration located for any entity.
Nexus describes its cover as discretionary and 'not a contract of insurance'. AltStreet found no SEC filer, no ESMA MiCA entry for NXM, wNXM or any Nexus entity, and no hit in the FCA website search for Nexus entities or directors. The FCA register, CFTC, US state regulators and the Panama registry could not be checked. US residents are not excluded from membership.
- Enforcement: no action located in AltStreet's SEC and FINRA tables, ESMA, the FCA website search or UK disqualification records for any Nexus entity or named person.
- Courts: Mira Holdings v. Nexus Mutual Limited (D. Colo. 1:26-cv-04037, filed August 28, 2026) is a domain-name dispute; Terrapin appears in the FTX bankruptcy as a buyer of customer claims. CourtListener searches for several directors were not run.
- Legal structure: BVI-law DAO Member Agreement with ICC arbitration and a bar on suits without consent of half of other members.
Disclosure Quality
Extensive docs, wordings, a public API and fully on-chain contracts; no audited accounts, and several public figures lag or differ from the chain.
Custody Model
Capital pool held by the Pool contract and an Enzyme vault owned by the board Safe; part of the counted pool is off-pool holdings tracked by a board-entered figure.
Regulatory Backing
None named.
Tax Treatment
Reporting
Not stated.
Not stated.
Income Character
Questions to put to the firm and a tax adviser
How NXM staking rewards, changes in NXM book value and cover payouts are treated depends on the holder's country. These are questions for a tax adviser.
Limitation
AltStreet is not a tax adviser.
Special Considerations
- Character of NXM staking rewards.
- Treatment of NXM redemption at book value.
- Treatment of claim payouts on cover.
Account Suitability
Taxable
Questions for a tax adviser.
Roth IRA
Not applicable.
Traditional IRA
Not applicable.
HSA
Not applicable.
Before You Invest
Get Nexus Mutual investor insights before you invest
K-1 timing, distribution updates, yield insights, and risk signals for Nexus Mutual and similar platforms.
- Weekly platform research focused on tax timing and liquidity reality.
- Signals on distributions, risks, and structural tradeoffs before capital is locked up.
- Coverage of adjacent platforms so you can compare better options faster.
Get weekly platform signals
Track fee changes, liquidity updates, risk flags, and adjacent platforms before you invest.
Independent intelligence from AltStreet. No hype. No sponsor spin.
AltStreet Data Layer
What the data actually shows
Nexus's public figures against the chain and its UK filings.
Board-entered capital
18,736,260 USDC of the 40,651.5 ETH-equivalent pool is the SafeTracker Cover Re figure set by the board Safe for holdings outside the pool contracts.
What this means
As a sensitivity, $73.4M excluding the figure at the pin.
Shrinking pool
101,320 ETH (end 2023) to 40,652 ETH; 68,041 ETH redeemed through the Ramm since January 2024 while active cover rose to 33,446 ETH.
What this means
The MCR ratio fell from 2,095% to 583% and the sell circuit breaker headroom is falling.
Claims paid
$24.68M on chain to the pin; $18.53M through August 2026.
What this means
The public ledger has not yet added the October claims.
Neutrl settlement
On 2026-10-15 the pool paid a $6.14M claim (46.5% of a $13.2M NUSD position) and the board Safe paid the claimant $6.74M (51%, the Neutrl redemption rate) for the recovery value, booked in SafeTracker; proposal 11 for the $6.74M was created 2026-10-06 and the claims were filed 2026-10-13; Nexus invites pre-filing consultation with the committee.
What this means
The recovery is counted in the pool at the price paid, on terms that are not public.
Data as of 2026-11-01 . AltStreet review evidence layer . Public-source analysis
Full datasetDecision Fit
Investor Fit
Who this works for, who it does not, and what level of patience and complexity tolerance the platform really demands.
Crypto funds and protocols seeking cover for specific risks
A long claims record and wide product range, against discretionary payment and board-linked claims decisions.
Investors seeking yield from NXM staking
About 2% to 2.6% in NXM with stake at risk of burning, a shrinking pool and concentrated control.
Anyone needing a legal right to be paid
Cover is discretionary and the member agreement limits legal action.
Tradeoffs
Key Tradeoffs
The attraction of pre-IPO access is real, but every benefit comes bundled with a corresponding liquidity, transparency, or pricing cost.
Transparency
Board-entered pool figure; the claims ledger lags the chain; no public audited accounts located.
Claims
Discretionary, decided by three assessors, two of them board members, with no appeal stage.
Control
Five people hold board, directorships, foundation council and most stake.
Avoid
Who This Is Not For
This section should be read as a filter, not an afterthought. If you need income, simplicity, or near-term access to capital, the structure is working against you.
Buyers who need a legally enforceable insurance contract
Nexus says its cover is not insurance and payment is discretionary.
Investors who need audited financial statements
No Nexus entity publishes them.
Editorial View
AltStreet Perspective
The compressed version of the review: what matters, what marketing tends to obscure, and how we would frame the platform for a serious allocator.
Verdict
Nexus Mutual's strongest evidence is on chain: the pool, the claims it has paid and the contracts that run it. The questions are about the people around that pool. The five board members pass upgrades, run the treasury, enter one-fifth of the counted capital and run the pools that hold most delegated stake; two of them sit on the three-person committee that decides claims. That sits under a member agreement that limits legal recourse and without audited accounts. The Neutrl settlement shows how it works in practice: the payment for the recovery value was proposed by the board before the claim was filed, the claim was approved by the committee, and the recovery now sits in the pool at a figure the board enters. Published terms for that agreement, a reconciliation of the SafeTracker figure and a conflicts policy would change how much of the on-chain record a member can rely on.
Positioning
Against Re, whose tokens reconcile on chain but whose reinsurer is affiliated, Nexus shows more of its capital on chain, though its counted capital includes a board-entered figure for holdings linked to that same reinsurer. Against regulated insurers, it offers cover they do not write, without a legal obligation to pay.
The Bottom Line
A long-running discretionary crypto cover mutual with an on-chain capital pool and claims record, run by a small board, two of whose members sit on the claims committee, that enters part of the capital and publishes no audited accounts.
Action
Next Steps
If you still want to engage after reading the review, these are the practical next moves that reduce avoidable mistakes.
Read the full wording for any cover you consider, including deductibles, cool-down and exclusions, and check whether your product type has an assessor group on chain.
Check the capital pool and the SafeTracker Cover Re figure on chain before relying on the homepage figure.
Ask Nexus for the terms of the Neutrl recovery agreement and a reconciliation of the SafeTracker figure to the Re redemption, the reUSDe holding, the Fern Re commitment and the Neutrl recovery.
Ask for a conflicts and recusal policy covering claims assessors, stakers and counterparties.
If you stake, note that stake can be burned on claims and is locked to tranche end.
AltStreet Research Desk
About to invest in Nexus Mutual, or in an offering we haven't covered?
Commission an independent diligence report: the same filing-based analysis behind this review, applied to the specific investment in front of you before you wire the money.
- Built from primary sources: SEC filings, court records, capital structure, and marketing-versus-filings comparison.
- From $750; full reports from $1,495. Fixed price confirmed up front, delivery in 3-5 business days.
- Independent by design: we work for investors and accept no compensation from the companies we cover.
Want this on every new deal, not one? Deal Intelligence sends the alert the day a new offering appears on a covered platform and follows with an analyst-approved investment committee memo.
Deal Intelligence →Appendix
Sources, Disclosures, and Supporting Context
The lower section is structured like a report appendix: relationship context first, adjacent reading second, and evidence last.
Report Appendix
Disclosure
Relationship and compensation context
+
Report Appendix
Disclosure
Relationship and compensation context
Report Appendix
Related Resources
Adjacent platform comparisons, frameworks, and category links
+
Report Appendix
Related Resources
Adjacent platform comparisons, frameworks, and category links
Further Reading
Related Resources
Adjacent frameworks and reviews that help place the platform in a broader allocation or due-diligence context.
Similar Platform Reviews
- Re Review
Reinsurance yield tokens; Nexus invested in Re's reinsurer.
- Figure Markets Review
On-chain lending pools reconciled on chain.
- Paxos Review
Tokens with attested reserves.
Report Appendix
Related Coverage
AltStreet newsroom articles on Nexus Mutual filings and disclosures
+
Report Appendix
Related Coverage
AltStreet newsroom articles on Nexus Mutual filings and disclosures
- Nexus Mutual Pays $6.1 Million in Neutrl Claims and Acquires a $6.7 Million Recovery PositionNov 1, 2026
On October 15, 2026 the crypto cover mutual paid two depeg claims on a $13.2 million Neutrl USD position and, in a separate transfer, paid the same member $6.74 million for the position's recovery value, which it now counts in its capital pool at the price paid. The agreement behind the purchase has not been published.
Report Appendix
Evidence & Methodology
20 cited passages on file; sources, scope, and how the review was assembled
+
Report Appendix
Evidence & Methodology
20 cited passages on file; sources, scope, and how the review was assembled
Evidence on file
20 supporting passages on file for Nexus Mutual and its offerings from 15 source documents, 7 discrepancies flagged. Each passage records the metric it supports, the value read from the document, the page, and the verbatim text where the document has it. Terminal subscribers read the passages; open them in the terminal.
- Cited passages
- 20
- Source documents
- 15
- Analyst verified
- 0
- Discrepancies flagged
- 7
ASReview Evidence
Methodology
All site and docs pages, forum threads, the Member Agreement, wordings, reports and the public API; Companies House filings; ESMA, EDGAR, FCA site search, UK caselaw and CourtListener (partial); read-only chain reads of every Nexus contract.
Scope
Nexus Mutual cover, NXM, staking and the RWI Vault. FCA register, CFTC, US state regulators, the Panama registry and court searches for several directors not completed.
Key Findings
- *Docs: 'Nexus Mutual cover is not a contract of insurance.'
- *Docs: 'Expert assessors have decided every claim since November 2025.'
- *Member Agreement: no member may 'commence or continue any Legal Proceeding' involving other members or DAO property without consent of at least half of other members.
- *Crypto Cover wording: custody cover 'is not available for purchases where the Custody Cover per Designated Custodian is less than $1,000,000 USD'.
- *Assessors' vote reasons on the Neutrl claims (on chain): Nexus 'has entered into an agreement with the claimant to ensure recovery value is preserved in place of the claimant being able to transfer the tokens'.
Primary Source Pages
Comparable Platforms
- Re
Reinsurance yield tokens with an affiliated reinsurer.
FAQ
Frequently Asked Questions
High-intent search questions answered directly, without making users hunt through the full review.
Is Nexus Mutual legit?
Nexus Mutual has operated since 2019 and has paid $24.7 million of claims on chain, including large payouts after Rari, FTX and Euler, and AltStreet located no enforcement action against it. Its cover is discretionary and 'not a contract of insurance', claims are decided by a three-person committee tied to its board, part of its counted capital is a figure the board enters, and AltStreet located no public audited accounts for any of its entities.
Is Nexus Mutual cover insurance?
No, by its own description. Nexus says its cover 'is not a contract of insurance' and involves 'only a discretion, not a legal obligation, to pay out'. Claims are decided by the Claims Committee; a denied claimant can file a new claim, and the Member Agreement sends disputes to arbitration.
Can US residents use Nexus Mutual?
The United States is not on Nexus's list of 27 restricted countries, and AltStreet found no US-person exclusion in the membership terms, Member Agreement or protocol wordings. Whether discretionary cover is permitted where you live is a question for your own adviser.
How much has Nexus Mutual paid in claims?
On chain, $24.68 million across 104 accepted claims from 2020 to November 1, 2026, including 6.14 million USDC for a Neutrl depeg claim in October 2026, settled together with a $6.74 million purchase of the claimant's recovery value. Nexus's docs give $18.5 million as of August 2026, which matches the chain to that date, and its public claims ledger does not yet list the two Neutrl claims.
What is NXM and can I sell it?
NXM is the membership and capital token. Members can redeem it through the Ramm at a price that starts 1% below book value and falls with the size of the sale (a quoted 0.0259 ETH at the pin, a snapshot), subject to the mechanism's liquidity and a cumulative sell limit with about 12,539 ETH left. wNXM, a third-party wrapper, trades freely.
Who controls Nexus Mutual?
A five-person Advisory Board (Hugh Karp, Roxana Danila, Reinis Melbardis, Graeme Thurgood, Lee McClelland), who are also the directors of Nexus Mutual Limited and the council of Terrapin International Foundation. Upgrades need three board votes and a 24-hour wait; members can replace board members by vote.