The Retail Mutual
Nothing to do with crypto: The Retail Mutual is a traditional British mutual for small shops, and this stands behind its everyday claims for fire, theft and accidental damage.
We have not analysed this listing yet. The numbers below come straight from the provider; what the cover actually says is not verified here.
Who backs this cover
Capacity does not come from Nexus itself. Staking pools put it up, and their managers decide which products they underwrite and at what price. This is the state from our latest daily reading.
This cover rests on a single pool. If that manager reduces their stake, the available capacity moves with it. Not a flaw, bundling is normal in insurance. We show the number, the reading is yours.
| Pool | Free capacity | Share of free | Price | Status |
|---|---|---|---|---|
| Unity Cover#5 | $10.3M | 100% | 4.95% | ready |
1 pool is listed for this cover, 0 of them already carrying it. The share is share of FREE capacity: it answers who could write the next policy, not who carries what is already bought.
History since 2023-07-16 is reconstructed weekly from on-chain data (dollar values derived via the NXM daily rate); the recent part is recorded live daily. The oldest stretch covers active cover only: free capacity and price cannot be reconstructed that far back.
Capital behind this product
Two different things, side by side. Allocated cover is measured: what the backing pools actually earmarked for this product. Attributable capital is derived: each pool weighted by this product’s share of its underwriting book, times that pool’s staked NXM in the same week. The ratio between them is the leverage the mutual runs on this product.
Currently about 1.6 NXM of cover per NXM of capital behind it. Weekly, reconstructed from the chain. Tranches belong to pools, not to products: the same capital carries several products at once, so the attributable share is an allocation, not a ring-fenced pot.
What buyers paid
Nexus Mutual publishes active cover and capital, but not what buyers actually paid. This figure is read from the purchase receipts one by one: the transfer to the capital pool, or the NXM burned when the premium was settled in NXM.
It is a floor, not a total. For 0 of the 36 recorded policies the amount could not be read, mostly because the premium was paid in ETH, which leaves no readable event in the receipt. Those are counted as zero here rather than guessed.
The yearly price counts only policies running 28 days or longer. Shorter ones are almost always top-ups covering the remaining days of an existing policy; annualising a single day would produce rates that look alarming without a single figure being wrong.
This is what buyers actually paid, not the price Nexus Mutual lists. The listed price moves with how much capacity is already used, so the two can drift apart. Each point is the total premium of that quarter divided by the cover it bought, expressed per year.
Weighted by cover, so a $25m policy counts more than a $4,000 one. Only policies running 28 days or longer. Quarters with fewer than 3 priced policies are left out; hollow dots mark quarters where a fifth or more of the policies had no readable amount.
Source: Nexus Mutual · Snapshot 2026-09-05 09:04 UTC