Solana, You're Covered
Cover has come to Solana. Nexus Mutual now supports non-EVM blockchains, and the first Solana listings are live for Kamino, Raydium, Orca, and Jupiter.
Since 2019, Nexus Mutual has been the leader in covering EVM protocol risk. Supporting proof of loss on non-EVM networks like Solana was a new challenge. Tracking crosschain exposure takes technical work and manual effort, so cover for Solana was only available as a bespoke offering, individually structured for institutional funds.
We're building on our hands-on experience of underwriting risk on Solana to make that same industry-leading cover publicly available.
DeFi on Solana
Birdeye put the chain at 54% of all spot DEX volume for H1 2026, and about 2.2 million addresses are active on an average day.
Institutional money has followed. Solana ETFs pulled in more than $1 billion since launching in October 2025, and tokenized real-world assets on the chain are nearing $2 billion.
Lending is where some of the largest positions sit. $2.2 billion is deposited across Solana lending protocols. Two of our four listings account for most of it, with Kamino Lend holding $1.04 billion and Jupiter Lend $925 million.
Cover is now available on close to 90% of Solana lending.
Why Crosschain Cover Matters
Protection shouldn't depend on which blockchain your favorite protocol runs on.
Solana investors know this already. In October 2022, an attacker manipulated the price oracle behind Mango Markets and walked away with $116 million: $47 million of that was never returned. This is the exact sort of risk that Nexus Mutual is ready to tackle.
"We've been underwriting Solana risk privately for institutional funds and knew we had to bring this protection to the wider market. Solana is too big and too active for its investors to be without the option of a financial safety net," said Hugh Karp, Founder of Nexus Mutual.
“As Kamino expands through new integrations and vault services, robust risk management remains fundamental to how we build. Nexus Mutual bringing independent cover to Solana adds another layer of protection for Kamino users and strengthens the risk infrastructure supporting institutional capital onchain," said Cheryl Chan, Head of Strategy & Growth at Kamino.
Live Listings for Solana
Kamino is Solana’s largest credit market, with more than $1 billion in deposits. Alongside its core lending markets, Kamino offers automated liquidity vaults, leveraged yield strategies through Multiply, and a growing range of curated and institutional vault products.
Raydium is one of Solana's original exchanges, live since 2021, with around $800 million in its pools. It runs a DEX and a perpetuals venue, and the listing is a Multi Protocol Cover spanning four components: AMM v4, CLMM and CPMM pools are covered alongside Raydium Perps.
Orca is an exchange where liquidity providers choose the price range for their funds to trade in, with $230 million deposited across its pools. Its Whirlpools design brought concentrated liquidity to Solana back in 2021.
Jupiter is a brand with several protocols underneath it, and the listing is a Multi Protocol Cover across four of them: Jupiter Swap v6 routes over 90% of aggregated volume on the chain, Jupiter Lend is the second largest lending market on Solana, and Jupiter Perpetuals and Jupiter Offerbook are covered alongside them.
How to Request a Listing
If you build or invest on Solana and want to see another protocol listed, reach out to us at nexusmutual.io/contact. Our risk assessment looks at the project’s codebase, audits, track record, team history and more, with every protocol we underwrite going through the same rigorous process.
The Safety Net Grows
With more than $7 billion covered across seven years of DeFi and 100% of valid claims paid, Nexus Mutual has always been there when it counts, now for Solana too.
You're Covered with Nexus Mutual
