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features
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Description

Nexus Mutual harnesses the capabilities of Ethereum to enable individuals to collectively share risk, eliminating the need for traditional insurance companies. It provides coverage against potential vulnerabilities in smart contract code and events such as the DAO hack or issues with Parity multi-signature wallets. Governed entirely by its members, Nexus Mutual allows them to determine the validity of claims, with all decisions transparently recorded and enforced through smart contracts on the Ethereum public blockchain. It is important to note that Smart Contract Cover does not constitute an insurance contract; instead, it relies on fellow members to adjudicate claims. Payment for claims is driven by economic incentives linked to the token rather than trust in an insurance provider. The tokenization process allows for a scalable method of raising risk capital, with a model that promotes funding inflow only when necessary. Furthermore, the token's value is connected to both the mutual's adoption and its actual performance, distancing it from mere speculation and fostering a more stable ecosystem for participants. This innovative approach not only empowers members but also aligns their interests for mutual benefit.

Description

A peer-to-peer insurance marketplace operating within the Polkadot ecosystem is being established, fully managed by DeFi participants. Users who become part of this marketplace will receive the PIS governance token, which serves as a key element of the platform's functionality. In this innovative model, any individual can request insurance while anyone else is free to offer coverage options. The plan is to transition Polkainsure to a dedicated Polkadot parachain upon the completion of product development. Currently, the PIS token is issued on Ethereum to accommodate significant trading interest. Users will be able to obtain coverage through PolkaInsure without undergoing KYC procedures, enhancing accessibility. All smart contracts associated with PolkaInsure will undergo thorough audits and will be deployed and verified on the Polkadot blockchain to ensure reliability. The claims process is governed by smart contract code, allowing for instantaneous payouts and guaranteeing that all insurance contracts are fully collateralized. The system will feature seamless integrations for assets such as DOT and ERC-20 tokens, alongside vital infrastructure services like Chainlink and TheGraph. Recently, we launched our products on the Moonbeam testnet, which serves as the smart contract parachain within the Polkadot Network, marking a significant milestone as we embark on Shield Mining in the Polkadot ecosystem. This initiative is poised to transform how insurance operates in the decentralized finance space.

API Access

Has API No 

API Access

Has API No 

Screenshots View All

Screenshots View All

Integrations

Ethereum Yes 
MetaMask Yes 
WalletConnect Yes 
Authereum Yes 
Base App Yes 
Chainlink No 
Index Coop Yes 
Lattice1 Yes 
Ledger Yes 
Opera Yes 
Polkadot No 
Telegram No 
Token Terminal Yes 
Torus Yes 
Trezor Yes 
iTrust.Finance Yes 

Integrations

Ethereum Yes 
MetaMask Yes 
WalletConnect Yes 
Authereum No 
Base App No 
Chainlink Yes 
Index Coop No 
Lattice1 No 
Ledger No 
Opera No 
Polkadot Yes 
Telegram Yes 
Token Terminal No 
Torus No 
Trezor No 
iTrust.Finance No 

Pricing Details

No price information available.
Free Trial No 
Free Version No 

Pricing Details

No price information available.
Free Trial No 
Free Version No 

Deployment

Web-Based Yes 
On-Premises No 
iPhone App No 
iPad App No 
Android App No 
Windows No 
Mac No 
Linux No 
Chromebook No 

Deployment

Web-Based Yes 
On-Premises No 
iPhone App Yes 
iPad App Yes 
Android App Yes 
Windows No 
Mac No 
Linux No 
Chromebook No 

Customer Support

Business Hours No 
Live Rep (24/7) No 
Online Support Yes 

Customer Support

Business Hours No 
Live Rep (24/7) No 
Online Support Yes 

Types of Training

Training Docs Yes 
Webinars No 
Live Training (Online) No 
In Person No 

Types of Training

Training Docs Yes 
Webinars No 
Live Training (Online) No 
In Person No 

Vendor Details

Company Name

Nexus Mutual

Founded

2017

Country

United Kingdom

Website

nexusmutual.io

Vendor Details

Company Name

PolkaInsure

Founded

2020

Website

polkainsure.finance/

Alternatives

Alternatives