Nexus Mutual is an open platform on Ethereum that lets members pool and share risk through a discretionary mutual (a community-owned insurance alternative). Only members can participate in the network, buy cover, and hold NXM (the platform's native token). But anyone can become a member by paying a nominal fee in ETH. The mutual is fully member-owned, and members are entitled to a share of any capital held in excess of what's necessary to pay potential claims.