Purpose: Return the power of insurance to the people. Initially, provide cover for smart contract hack or bugs through purchases of Smart Contract Cover.
Current Stage: Approaching main-net launch. Entering security audits.
Claims are voted on by members of the DAO (mutual)
Risk of specific smart contracts is determined by staking.
Upgrades to code, parameters or new products is voted on via a governance layer.
Capital position of the mutual, or funding, is incentivized through a bonding curve.
Funding primarily, but also we've done some really interesting work on the legal side that we think others might be interested in. Linking a DAO to a legal entity in the UK - what we are calling a digital cooperative. Maybe there is some way to partner up, that makes sense for both of us?
Medium (Smart Contract Cover): https://medium.com/nexus-mutual/smart-contract-cover-55782407722c