[Ethereum] Nexus Mutual - Security Rating 3

Security Rating Level: 3
Evaluation Date: Mar 31st, 2021

1. History & Team (Weight 20%; Score 67)

1.1 Project age (8%; 80)
Launched on mainnet from 2019 May, alive for 23 months.
1.2 Past exploits (8%; 50)
Was attacked once
1.3 Team anonymity (2%; 100)
Team are public
1.4 Team experience in programming (2%; 50)
CTO, Roxana D., started software engineering from 2014

2. Exposure (Weight 25%; Score 66.5)

2.1 Historical TVL (17.5%; 60)
Average market share in the past 4Q: 0.7%, 0.7%, 0.7%, 0.6%
Data collected from Nexus Mutual | Stats, Charts and Guide | DeFi Pulse
2.2 Industry segment (5%; 90)
Nexus Mutual is an insurance protocol
2.3 Infrastructure (2.5%; 65)
Oracle is needed for price feed (Chainlink), a decentralised single oracle

3. Audit (Weight 35%; Score 66)

Audit report available on: GitHub - NexusMutual/smart-contracts
3.1 Transparency and scope (14%; 100)
Full scope audit done, and report is public
3.2 Audit firm trust score (10.5%; 30)
Audited by Solidified and G0 Group, Tier 3 audit firm
3.3 Audit findings (10.5%; 40)
Critical issues were found in audit
3.4 Other credits (up to additive 5.25%; 5)
Audit done before deployment

4. Code quality (Weight 15%; Score 65)

Repository on github: GitHub - NexusMutual/smart-contracts
4.1 Documentation
Document illustrating code design exists. Code has some comments but not enough
4.2 Test
Test done, no code coverage visible

5. Developer community (Weight 5%; Score 71)

5.1 Bug bounty program (3.5%; 80)
Exists. Reward up to $50,000
5.2 Issues raised on Github (1.5%; 50)
2 issues raised on github repository

The N-SCOSS for Compound is 66.425, level 3