Is Nexus Mutual (NXM) halal or haram?
Not screened yet
We have not run our Shariah screening on Nexus Mutual yet, so we are not giving a ruling on this page. What is below is what we have gathered and checked ourselves, without any AI: where the coin lives, its supply, what its own blockchain says about who can freeze or create coins, and the project's own documents.
What it is
Nexus Mutual is a decentralized insurance protocol built on Ethereum that currently offers cover for smart contracts on the Ethereum blockchain, currently covering all the main defi protocols.
The basics
- Where it lives
- token on ethereum
- Circulating supply
- 1,671,364 NXM
- Total supply
- 1,671,364 NXM
- Category
- Decentralized Finance (DeFi), Insurance, Ethereum Ecosystem
What it runs, and where its revenue goes
Per DefiLlama on 2026-09-19, Nexus Mutual runs one product line: Nexus Mutual (Insurance, $127K in fees over 30 days).
Per DefiLlama on 2026-09-19, $64K reached Nexus Mutual token holders in the last 30 days (Nexus Mutual $64K). How, in DefiLlama's words: 50% of premiums retained in the capital pool, benefiting all NXM Holders
Figures from DefiLlama. Whether any of this income is permissible is part of our screening.
Who controls the coins
Read from the token's verified contract on Ethereum (0xd7c49cee7e9188cca6ad8ff264c1da2e69d4cf3b) on 2026-09-19: it has mint (held by the contract TokenController (0x5407…60b8)); what these allow is checked at screening.
Whether anyone can freeze a holder's balance, or create new coins, is part of our screening. This much is read straight from the blockchain, so it is already established before any screening runs.
The project's own sources
Checked on 19 September 2026. Every address above was fetched once to confirm it loads.