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← Nexus Mutual
Product analysis

Curve cover,
coverage and gaps.

Cover for Curve deposits: pays on a contract hack (exactly what happened in 2023, and Nexus opened claims), but stablecoin depegs and crvUSD are excluded.

Raccoon Score 66/100 Limited

Who this is for: Curve LPs, including staked positions

Verdict

Unlike most listings, Curve has proven both sides in practice: a code-level exploit really happened (July 2023, via a Vyper compiler bug that drained the CRV/ETH and other pools), and Nexus opened a formal claims process for cover holders. That makes the covered peril concrete. Two caveats stand out. First, the 2023 losses were largely recovered by whitehats and reimbursed by the teams, so it never became a large clean payout test, and it ran under the older Protocol Cover wording v1.0, not today terms. Second, crvUSD, Curve own stablecoin, is excluded from this cover under clause 10.6 and sold separately as a depeg cover, and a depeg of the stablecoins sitting in Curve pools is excluded as a market movement, which is a real gap for a stableswap venue.

Confidence: medium 6 red flags As of 2026-07-22

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© 2026 Cover Raccoon. Analyses are dated snapshots with sources, not insurance advice and not a recommendation. Terms can change; the provider wording always governs.