# Nexus Mutual > Nexus Mutual is a discretionary mutual on Ethereum that covers crypto risk. Members buy cover against smart contract exploits, stablecoin depegs, custodian failures, slashing and other defined onchain and offchain events, and the mutual pays valid claims from a shared capital pool. It has operated since 2019 and has paid claims for FTX, Euler, Hodlnaut and other events. Cover is discretionary, not regulated insurance: claims are assessed and paid at the discretion of the mutual under the cover wording for each product. The public API at https://api.nexusmutual.io/v2 exposes products, capacity, pricing quotes and claims. The technical documentation at https://docs.nexusmutual.io has its own llms.txt at https://docs.nexusmutual.io/llms.txt. The app for buying cover is https://app.nexusmutual.io. ## Cover products - [Single Protocol Cover](https://nexusmutual.io/product-index/single-protocol-cover): Single Protocol Cover protects your crypto on one DeFi protocol against smart contract hacks, oracle manipulation and liquidation failure. - [Fund Portfolio Cover](https://nexusmutual.io/product-index/fund-portfolio-cover): Fund Portfolio Cover protects a DeFi fund's whole portfolio against smart contract hacks, liquidation failure and other major DeFi risks in one transaction. - [Multi Protocol Cover](https://nexusmutual.io/product-index/multi-protocol-cover): Multi Protocol Cover protects assets deployed across every protocol in a yield strategy, giving full-stack protection under one listing. - [Vault Cover](https://nexusmutual.io/product-index/vault-cover): Vault Cover protects capital in DeFi vaults for builders, curators and investors, including OpenCover's Covered Vaults backed by Nexus Mutual. - [Native Protocol Cover](https://nexusmutual.io/product-index/native-protocol-cover): Native Protocol Cover lets a DeFi protocol buy cover at the protocol layer and give its whole community a baseline level of protection. - [Crypto Kidnap & Ransom Cover](https://nexusmutual.io/product-index/crypto-k-r-cover): Crypto Kidnap & Ransom Cover protects crypto holders and their families against kidnap and extortion, with ransom reimbursement and a crisis response team. - [Custody Cover](https://nexusmutual.io/product-index/custody-cover): Custody Cover protects crypto held on a centralized exchange if withdrawals are halted for 100 days or more, or a loss above 10% is passed on to users. - [Depeg Cover](https://nexusmutual.io/product-index/depeg-cover): Depeg Cover pays out when a covered stablecoin or yield-bearing token loses its peg beyond the defined threshold for a sustained period. - [Leveraged Liquidation Cover](https://nexusmutual.io/product-index/leveraged-liquidation-cover): Leveraged Liquidation Cover protects the capital behind leveraged DeFi positions when a depeg, oracle failure or liquidation failure causes losses. - [Slashing Cover](https://nexusmutual.io/product-index/slashing-cover): Slashing Cover protects node operators and validators against losses from slashing penalties, including double-signing and infrastructure failure. - [Bug Bounty Cover](https://nexusmutual.io/product-index/bug-bounty-cover): Bug Bounty Cover lets a DeFi protocol offset up to 80% of a critical bug bounty payout, so it can run a credible program without carrying the full cost. - [Cover Tailored to Your Needs](https://nexusmutual.io/product-index/bespoke-cover): Bespoke Cover from Nexus Mutual is structured around an institution's exact exposure, underwritten by the mutual's capital pool and assessed transparently. ## Onchain risks covered - [Smart Contract Exploits](https://nexusmutual.io/risk-index/smart-contract-exploits): Smart contract exploits are the most common way to lose money onchain. Learn how they happen and which Nexus Mutual cover products protect against them. - [Oracle Failure & Manipulation](https://nexusmutual.io/risk-index/oracle-failure-manipulation): Oracle failure and manipulation feed protocols wrong prices. Learn how it happens and which Nexus Mutual cover protects your position. - [Liquidation Failure](https://nexusmutual.io/risk-index/liquidation-failure): Liquidation failure leaves lending protocols with bad debt that lands on depositors. Learn how it happens and how Nexus Mutual covers it. - [Governance Takeover](https://nexusmutual.io/risk-index/governance-takeover): A governance takeover lets an attacker push malicious changes through a protocol's vote. Learn how it happens and how Nexus Mutual covers it. - [Leveraged Liquidation & Unrealized Loss](https://nexusmutual.io/risk-index/leveraged-liquidation-unrealized-loss): Looping multiplies yield and downside. Learn how leveraged positions get liquidated and how Leveraged Liquidation Cover from Nexus Mutual protects them. - [Stablecoin Depeg](https://nexusmutual.io/risk-index/stablecoin-depeg): Stablecoins can lose their peg and fail to recover. Learn how depegs happen and how Depeg Cover from Nexus Mutual protects USDS, USDT, crvUSD and more. - [ETH Liquid Staking & Restaking Token Depeg](https://nexusmutual.io/risk-index/eth-liquid-staking-restaking-token-depeg): Liquid staking and restaking tokens like wstETH and weETH can trade below ETH. Learn why they depeg and how Depeg Cover from Nexus Mutual protects you. - [Centralized Exchange Failure: Halted Withdrawals & Haircuts](https://nexusmutual.io/risk-index/centralized-exchange-failure-halted-withdrawals-haircuts): Centralized exchanges can halt withdrawals or pass losses to users. Learn how it happens and how Custody Cover from Nexus Mutual protects your balance. - [Validator Slashing](https://nexusmutual.io/risk-index/validator-slashing): Slashing penalises validators for double-signing, surround voting and setup failures. Learn how it works and how Slashing Cover from Nexus Mutual helps. - [Kidnap, Ransom & Wrench Attacks](https://nexusmutual.io/risk-index/kidnap-ransom-wrench-attacks): Wrench attacks bypass every technical control. Learn how crypto holders are targeted and how Crypto Kidnap & Ransom Cover from Nexus Mutual responds. - [Critical Bug Bounty Payouts](https://nexusmutual.io/risk-index/critical-bug-bounty-payouts): A critical bug bounty payout can hit a protocol's treasury hard. Learn why bounties matter and how Bug Bounty Cover from Nexus Mutual offsets up to 80%. ## Key pages - [Claims paid](https://nexusmutual.io/claims): every claim the mutual has assessed, with the amount paid, the event and the verdict. - [DeFi insurance explained](https://nexusmutual.io/defi-insurance): how DeFi cover works, what it protects against and how it differs from regulated insurance. - [Crypto insurance explained](https://nexusmutual.io/crypto-insurance): the risk categories in crypto and which providers cover each. - [FAQ](https://nexusmutual.io/faq): pricing, claims process, membership and eligibility. - [Contact](https://nexusmutual.io/contact): bespoke cover for funds, protocols and institutions. ## Optional - [Blog](https://nexusmutual.io/blog): incident reports, product updates and monthly reviews, newest first. - [All articles](https://nexusmutual.io/blog/archive): every post with its date, in one list. - [Technical documentation](https://docs.nexusmutual.io): protocol mechanics, cover wordings, claim assessment, staking and governance. - [API reference](https://api.nexusmutual.io/v2/api/docs): public endpoints for products, capacity, quotes and claims.