Everstake slashing cover,
coverage and gaps.

Who this is for: Whoever holds stake with Everstake and buys this: the annex ties the cover to the buyer AUM, so it protects the staked position rather than a third party

Structurally the most sensible of the slashing covers, and at the same time the one whose beneficiary is least clear. The proportional design is its strength: a deductible of 1% of the cover amount and a ceiling of 20% of AUM scale with the position instead of sitting at an arbitrary fixed number, so the cover does not become meaningless as the stake grows, the way a fixed ceiling does. The {phrase:minPricePct} annual price (live) sits at the low end of the family, and is plausible against an operator with a long clean slashing record and institutional certifications. The open question is who the covered member is. The annex says a covered member may buy up to 20% of their AUM, which reads like the party whose stake is at risk, and that could be the operator covering delegated stake or an institution covering its own. Nexus classifies the listing in the umbrella family that normally sits at operator level, but the annex alone does not settle it. Until that is answered, treat this as cover for the staked position of whoever bought it, and do not assume a delegator is protected without confirmation.