What is Nexus Mutual ?
Nexus Mutual is a people-powered alternative to insurance providing cover against risks in DeFi. Nexus Mutual is an insurance alternative, where members of the mutual contribute funds and share risks together. It's first product is [”Smart Contract Cover“](https://nexustracker.io/), where members can purchase to protect themselves against bugs or hacks in solidity code running on Ethereum. NXM is the native platform token that is not currently listed on any exchange. NXM is only available through the [Nexus Mutual app](app.nexusmutual.io) and can only be transferred to other members' wallets. Nexus Mutual team pays huge focus for the security as it's the core of the product and plans to release a bug bounty program in the coming weeks. Latest public [audit report](https://www.scribd.com/document/411077416/Solidified-Audit-Report-Nexus-Mutual-20-05-2019#) is provided by "Solidified".