Wrapped NXM (WNXM) banner
Wrapped NXM (WNXM)

Wrapped NXM

Nexus Mutual is a decentralized insurance protocol on Ethereum.

Nexus Mutual allows users to purchase coverage to safeguard against on-chain and off-chain risks. If a loss occurs, those with coverage can initiate a claim, which is then evaluated by fellow members. Claims are paid out if the claimant provides sufficient evidence of the loss.

The NXM token signifies membership rights within Nexus Mutual and allows users to engage in various ecosystem activities such as purchasing coverage, participating in governance, staking, and assessing claims. Its price is determined through a bonding curve, influenced by the mutual's capital and the amount required to meet claim obligations with a specific likelihood.

Users can stake NXM tokens to vote on the validity of claims and other governance matters. Members who vote in line with the consensus receive NXM rewards, while those voting against it have their tokens locked for an extended period. Attempted fraudulent voting results in NXM burning, and the fraudulent decision can be overturned.

Wrapped NXM is the freely tradable version of NXM tokens outside the Nexus Mutual platform.

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Token supply

0 WNXM (0%)
2.04M WNXM (100%)
1.01M WNXM (49.76%)