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DeFi Insurer Nexus Mutual Requests $153K for 6-Month Budget

Crypto insurance protocol Nexus Mutual's builders have requested $153,500 in NXM tokens to fund the next six months of operations. Most of the funds are earmarked for salaries, with the rest going toward travel, infrastructure for the project's Discord server and R&D, according to a blog post. Nexus Mutual is an Ethereum-based insurance alternative that offers coverage for loss of crypto funds using assets supplied by its members, who earn interest for carrying the risk. The funding request is a 41% decrease from the project's previous team budget. The budget proposal will be voted on by Nexus Mutual's DAO – the project's governing body of NXM token owners – between Jan. 30 and Feb 5.

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