Nexus Mutual DAO Teams

Those who want to put their talents and skills to work for the DAO can contribute to an existing team or establish a new team that can serve the DAO for the long-term and provide a necessary function that is not being fulfilled within the DAO. Below you can find information about the currently funded DAO teams.

Mission

Our mission is to build an ecosystem in which anyone can protect anyone else through an open risk marketplace.

Values

DAO team contributors work to ensure the long-term sustainability of the Mutual. To achieve this shared mission, our every action must reflect these core values.

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Trustworthiness

We pay claims. Our members have already voted to approve over $18 million to those who lost funds. Our capital is owned by members and we manage risks to ensure there is always enough money for claims, so members can be confident in our cover.

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Egalitarianism

We’re a mutual which means we’re owned and governed by our members—and anyone can become a member. We believe that everyone should be able to find the cover they need and anyone else should be able to provide that cover.

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Integrity

Nexus Mutual was founded to help protect underserved communities. That has been our guiding vision since day one. Honest participation in the mutual’s governance is rewarded. Members will always own the capital, review the validity of claim requests, and vote on claim outcomes.

Active DAO Teams

Currently, there are four (4) active DAO teams. These teams work on behalf of Nexus Mutual DAO members, who vote to approve the team’s funding through the NMDP process. For more information about the active DAO teams, see past DAO team budget requests on the forum.

Purpose

Provide support to and educational content for members, staking pool managers, DAOs and our wider community in order to expand coverage. Design communication channels to drive community engagement, member retention.

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Ongoing Responsibilities

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Current Priorities

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Past Performance

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Team Members

Purpose

Overcome hard problems faced by the protocol and ecosystem. Decentralise the problem-solving function, increase transparency, and attract skilled members who want to solve difficult problems.

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Ongoing Responsibilities

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Current Priorities

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Past Performance

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Team members

Purpose

Ideate on existing cover products and develop new cover products to drive cover sales, reach new markets, and provide members with superior protection against the greatest risks onchain and offchain. Support new and existing syndicates/distributors building on top of the Mutual. Research new risks, develop risk frameworks and pricing models.

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Ongoing Responsibilities

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Current Priorities

Product Delivery Improvements

Permissioned Claim Assessment. The Product & Risk team collaborated with other teams across the Foundation and DAO to conduct user testing on the current claims process. A key piece of feedback emerged consistently: “How do I know who is assessing my claim?” Member participation in claim assessments has historically been low, and both existing and prospective members identified the anonymity of assessors as a major concern. In response, the Product & Risk team is now working with the Foundation Engineering team to develop a permissioned claims assessment model—an evolution of the previously approved delegated claims approach.

The permissioned claim assessment model will enable the Advisory Board to vet and approve qualified individuals or teams to serve as permissioned assessors. These assessors will be organized into assessment groups, each responsible for reviewing, evaluating, and validating claims submitted under specific cover product types (e.g., Protocol Cover, Bundled Protocol Cover, Fund Portfolio Cover, etc.). Unlike the current anonymous model, permissioned claim assessors will be publicly known and required to provide clear rationale for their decisions to approve or deny claims. This increased transparency and accountability is expected to enhance trust and confidence in the claims process by ensuring that assessments are carried out by reputable, identifiable participants.

Revamped Claim Submission Flow. The Product & Risk team has identified opportunities to improve the claim submission process and reduce friction for claimants. One key enhancement involves introducing a “discussion” claim stage, which would require claimants to discuss the initial details of their claim with permissioned assessors before submitting their claim onchain.

This stage would enable assessors to assist with calculating the claimant’s loss, reviewing the provided proof of loss, and offering feedback on incident details. By doing so, claimants can address any gaps or errors early—avoiding scenarios where they pay a claim deposit, submit incomplete or inaccurate information, and ultimately face claim denial.

Offering Alternative Proof of Loss Mechanism. With the Mutual’s current proof of loss mechanism, members must either sign a message or send a zero-value transaction from their affected wallet to prove ownership. This step is required at the time of claim submission and serves as the basis for validating the claim. However, this approach is limited to EVM-compatible wallets, effectively preventing the Mutual from offering cover for non-EVM ecosystems such as Solana, Bitcoin, and others.

To address this limitation and make protection more accessible, the Product & Risk team is working with the Foundation Engineering team to develop an alternative approach, currently referred to as “upfront proof of loss.” With this model, users would specify the wallet addresses they want covered at the time of purchasing their cover. These addresses would be stored securely in an offchain database to preserve user privacy. Members would be able to update their covered addresses over time—adding or removing wallets as needed—with each change being timestamped to prevent retroactive edits after a loss event.

This new mechanism would eliminate the need for transaction signatures from non-EVM wallets, enabling Nexus Mutual to extend coverage to non-EVM protocols on networks like Solana, BTCFi, Cosmos, and others. This new feature will help the Mutual tap into underserved markets, drive growth in cover purchases, and give permissioned claim assessors a clearer view of user exposure at the time of loss—ultimately helping claimants more accurately calculate their losses.

Rewriting the Nexus Mutual Documentation. The current documentation was originally created for the launch of Nexus Mutual V2 in March 2023. Although it has been updated periodically, it now requires a comprehensive refresh. The Product & Risk team will lead this initiative to ensure the documentation is both accurate and accessible. This includes rewriting key sections for clarity and incorporating diagrams and explanations that clearly illustrate how the Mutual operates.

Support for Other Team Initiatives

Updating the Buy Cover Experience. Since 2024, the Product & Risk team has launched a variety of new cover products. In the past, the search experience in the Nexus Mutual dApp was straightforward since Protocol Cover was the primary product available. However, with the addition of new product offerings, it has become more difficult for users to browse listings and find the right cover to protect their assets.

To address this, the Product & Risk team will work closely with the Foundation Engineering team to enhance the user experience for cover buyers. Planned improvements include:

Enhanced search functionality;
Filtering options based on the specific risks users want to cover; and
A redesigned cover purchase flow tailored to different product types.

These updates aim to make it easier for users to discover and purchase the protection that best fits their needs.

Updating the Mutual’s Governance Mechanism. Nexus Mutual’s original governance contract has been in use since the protocol launched. After evaluating the governance contract, which is rather complex, the engineering team has decided to update our governance contracts and introduce a Snapshot component to full-member votes.

The Product & Risk team will support this initiative as the Foundation Engineering team develops a new implementation of the governance contract. While the underlying governance functionality will remain the same, the changes will involve development of a new governance contract with less complexity and a shift in the platforms (i.e., adding a Snapshot component) used for member participation. By moving voting to Snapshot, members will no longer need to pay gas fees to cast their votes—removing a key friction point that should allow for greater participation in governance decisions.

New Cover Product Development

Leveraged Depeg Liquidation Product. After launching Depeg Cover, we received feedback from users—both retail and institutional—that while they liked the product, it didn’t support leveraged-looping strategies commonly used on lending protocols. In the event of a depeg and subsequent liquidation, users would lose access to the covered token, making them ineligible for a claim payout.

In response, the Product & Risk team began developing a new cover product specifically designed to protect leveraged positions on lending platforms in the event of a depeg. Interest in this new product has been strong, and development is well underway. We expect to launch it in Q3 2025.

Updates to Protocol Cover and Other Protocol-Related Products. In Q2 2025, our team conducted user testing on several cover wording documents, including those for Protocol Cover and Bundled Protocol Cover. Based on the feedback received, the Product & Risk team will revise the language to ensure it clearly communicates what is—and isn’t—covered under each product.

New Cover Product Development. Our team is currently developing several new cover products that we’re not able to announce at this time. The Product & Risk team expects to launch these new cover products over the next several quarters. These cover products will open up new lines of business—specifically, ones that are not dependent on yield.

Expanding Ability to Cover Protocols, Slashing on Non-EVM Networks. The Product & Risk team is also working on a version of Protocol Cover tailored for non-EVM chains—complementing our alternative proof of loss initiative. Members have expressed interest in listings for protocols in ecosystems like Solana, Bitcoin, and Cosmos, including specific requests for slashing coverage.

To meet this demand, our team will adapt a version of our existing Protocol Cover wording to support these ecosystems. This will ensure our members can stay covered regardless of whether the protocol they use is EVM-compatible or not.

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Past Performance

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Team Members

Purpose

Expand Nexus Mutual’s brand awareness, engagement with target audiences and drive growth in new membership. Create and execute marketing campaigns; develop and distribute content; and manage Nexus Mutual’s marketing channels.

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Ongoing Responsibilities

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Current Priorities

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Past Performance

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Team Members

Values

DAO team contributors work to ensure the long-term sustainability of the Mutual. To achieve this shared mission, our every action must reflect these core values.

⚫

Trustworthiness

⚫

Egalitarianism

⚫

Integrity

Active DAO Teams

Purpose

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Ongoing Responsibilities

‣

Current Priorities

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Past Performance

‣

Team Members

Purpose

Overcome hard problems faced by the protocol and ecosystem. Decentralise the problem-solving function, increase transparency, and attract skilled members who want to solve difficult problems.

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Ongoing Responsibilities

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Current Priorities

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Past Performance

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Team members

Purpose

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Ongoing Responsibilities

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Current Priorities

Product Delivery Improvements

Support for Other Team Initiatives

To address this, the Product & Risk team will work closely with the Foundation Engineering team to enhance the user experience for cover buyers. Planned improvements include:

Enhanced search functionality;
Filtering options based on the specific risks users want to cover; and
A redesigned cover purchase flow tailored to different product types.

These updates aim to make it easier for users to discover and purchase the protection that best fits their needs.

New Cover Product Development

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Past Performance

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Team Members

Purpose

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Ongoing Responsibilities

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Current Priorities

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Past Performance

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Team Members