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## What is Nexus Mutual?
Nexus Mutual is a platform built on the Ethereum blockchain that offers insurance products managed and financed by the community. The main offering from Nexus Mutual is Smart Contract Cover, which provides protection against vulnerabilities in smart contracts used on different decentralized finance ([DeFi](https://coinrotator.app/category/DeFi?marketCapMin=&marketCapMax=)) platforms. The company operates as a [decentralized autonomous organization](https://coinrotator.app/category/DAO) (DAO) and is fully owned by its members. Membership in Nexus Mutual is maintained through the NXM token, which also provides rewards and voting rights for governance decisions within the network.

## What Makes Nexus Mutual Special?
Nexus Mutual offers individuals the opportunity to purchase coverage and safeguard themselves against both on-chain and off-chain risks. If a policyholder experiences a loss, they can submit a claim, which will be reviewed by fellow members. Upon providing evidence of the loss, eligible claims will be paid out.

The NXM token represents membership rights within Nexus Mutual and enables participation in various activities within the ecosystem, such as purchasing coverage, participating in governance, staking, and claims assessment. The token's price is determined by a bonding curve, which takes into account the mutual's capital and the amount needed to fulfill claim obligations with a certain probability.

Users have the option to stake NXM tokens in order to vote on claim assessments and determine the validity of specific claims. Members who vote in alignment with the consensus are rewarded with NXM tokens, while those who vote against it will have their tokens locked for a longer period. If fraudulent votes are detected, the NXM tokens associated with those votes can be burned, and the fraudulent decision may be reversed.

## Nexus Mutual Team Background
Hugh Karp, the founder of NXM, has a background in senior positions at Munich Re, where he held various roles, including Chief Financial Officer (CFO) of the life insurance business in the United Kingdom and Ireland. After his tenure at Munich Re, Karp went on to establish NXM.

The Foundation and Nexus Mutual DAO also play integral roles in contributing to the development, raising awareness, and driving adoption of the protocol. In addition, third parties have the opportunity to request grant funding to support independent contributions or aid in the advancement of the protocol.

## Nexus Mutual Project Development
The priorities in Nexus Mutual's roadmap for 2023 include:
- Growth: The top priority for Nexus Mutual is to foster the growth of the mutual itself, cover products, staking pools, and ultimately provide enhanced protection for its members. To achieve this, the company will explore various strategies, test them, and scale up the successful ones to drive sales.
- Tokenomics: Updating the tokenomics is crucial for expanding the Capital Pool, which is vital for scaling the mutual as a whole and enabling members to enter and exit the pool to drive capital growth. Hugh Karp, along with the Head of Research and Development, is closely collaborating with the Engineering Team to implement this upgrade in a safe and timely manner, while maintaining a long-term focus on building the platform.
- Progressive Decentralization: Nexus Mutual has always aimed to decentralize as the mutual evolves. As time progresses, there are plans to further decentralize the protocol and involve more teams in contributing to its development. The goal is to gradually shift towards greater decentralization along the spectrum.

## {{name}} Price Analysis

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This is {{percentagefromath}} from its all time high of {{ath}}. 
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Of course, don’t trust price predictions alone, always check the Coinrotator token screener to follow the trending market.

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