Neptune Mutual
Other · Underwriting · NPM
Neptune Mutual runs parametric cover pools where payouts trigger when predefined on-chain conditions are met (e.g. protocol TVL drops beyond a threshold). NPM governs pool parameters and risk frameworks.
Parametric cover pools for on-chain loss events.
Protocol TVL
$0
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Research
Components, facts, FAQ, timeline, and tokenomics in one place
Main components (4)
Parametric Cover Marketplace
The core product: a marketplace of parametric cover policies covering DeFi protocols, CEXes and custodians. Payouts trigger on the resolution of a predefined incident rather than on individual member claims, so policyholders of an affected protocol are all paid out without submitting evidence.
Cover Pools (Dedicated & Diversified)
Liquidity providers deposit stablecoins into either dedicated pools (single project) or diversified pools (a basket of projects), choosing leveraged or unleveraged exposure to earn premiums and NPM incentives.
Incident Reporting & Resolution System
A community-based, NPM-staking mechanism to report and dispute incidents that trigger payouts. Pre-TGE this operated under an interim Proof of Authority model with the Neptune Mutual Association able to pause the protocol and perform emergency resolutions.
NPM Token
Governance and staking token whose primary utility is governing the incident reporting and resolution system via staking and voting; also used for staking to create covers and provide reporting incentives.
Differentiator
Parametric, on-chain-trigger payouts — no member claims vote — enabling faster settlement when cover conditions are objectively met.
Organizational structure
Units & roles
- Governing body / protocol steward
Neptune Mutual Association
Held governance powers under the interim Proof of Authority model, including the ability to pause the protocol during attacks and perform emergency resolutions to reverse incident-reporting decisions during malicious activity.
Investment rounds
| Date | Round | Amount | Investors | Link |
|---|---|---|---|---|
| 2021-11-26 | Seed | $1.75M | Fenbushi CapitalCoinbase VenturesHuobi VenturesOK Blockdream VenturesGravityXHex TrustBaboon VCNVC PartnersAlphabit Digital Currency Fund | Source |
| 2022-05-13 | Private | $5.3M | XT.comGate.ioBitmartLD CapitalMapleblock CapitalPulsar GlobalThe DuckDaoDweb3Redline DAOLUX CapitalPoolz FinanceBSC ArmyWhitelist VenturesCryptoLark | Source |
Similarity to traditional finance products
How Neptune Mutual maps onto established TradFi structures, and where it diverges.
| TradFi product | Similarity to Neptune Mutual | Key differences |
|---|---|---|
| Parametric insurance (e.g. weather / flight-delay index insurance) | Both pay out automatically when a predefined, objectively measurable trigger condition is met, rather than requiring the insured to file and prove a loss claim. | Neptune Mutual covers crypto-native perils (protocol hacks, exchange/custodian failures), is funded by permissionless stablecoin liquidity pools, and resolves incidents through on-chain community reporting and NPM staking rather than a licensed insurer and actuarial loss adjuster. |