About Wrapped NXM
NXM token itself is created solely for internal use within the Nexus Mutual protocol and all of its holders must go through KYC. As such, a wrapped version is created to allow more users to own the token without having to do KYC. In the meantime it also improves its liquidity outside the protocol’s bonding curve by being listed on exchanges such as Uniswap and Binance. To make use of the wNXM token, it first needs to be unwrapped into NXM by a registered member of Nexus Mutual. After it is unwrapped, wNXM becomes NXM and can be used as a normal token on the Nexus Mutual platform.
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Market Stats
Market Cap
$33.71M
1.68%
FDV
$33.71M
Circ. Supply
484K WNXM
Max Supply
Not enough data
Total Supply
484K WNXM
Diluted Valuation
$33.93M
Performance
Popularity
Not enough data
Dominance
0%
Volume (24H)
$73.62K
0.66%
Volume (7D)
$474.52K
Volume (30D)
$2.61M
All time high
$134.14
Price Change (1Y)
Not enough data
7.55%
Additional details
Market details
WNXM vs markets
↗ 0.89%
WNXM vs BTC
↗ 0.39%
WNXM vs ETH
↗ 7.11%
Tags
defi
insurance
wrapped-tokens
rehypothecated-crypto
Network & Addresses
Network | Address | |
|---|---|---|
Ethereum | 0x0d438F3b5175Bebc262bF23753C1E53d03432bDE |
Price history
Time | Price | Change |
|---|---|---|
Today | $69.94 | |
1 Day | $71.34 | |
1 Week | $73.26 | |
1 Month | $69.09 | |
1 Year | $75.58 |
FAQ
WrappedNXM (wNXM) is a 1-to-1 backed token generated by wrapping genuine NXM. In brief, wrapped tokens are the cryptocurrencies that are pegged or attached to the value of another crypto or assets. Thus, it bypasses the limitation of transferring native coins, i.e., tokens that reside on native blockchains. Here, NXM is an ERC20-compatible token of the Nexus Mutual protocol, a decentralized alternative to insurance. Nexus Mutual is a digital cooperative that complies with the relevant laws and regulations of the country from where it accepts members. The project aims to provide the community members with simple, transparent, accessible, and affordable financial protection against their risks. Although fully tradable, wNXM cannot be used within the Nexus Mutual platform. Since NXM is traded only among members, only Nexus Mutual members can wrap/unwrap NXM.
According to the website, the key features of the NXM project seek to be the following:
In addition, the NXM token aims to bind together the internal economics of the mutual by seeking to reward the active members for participating in the day-to-day operations of the mutual. Besides this, token-driven economic incentives aim to enforce claims payments. Token also works as a capital provider to the mutual. As the mutual’s capital pool increases, the value of NXM seeks to also increase.
Nexus Mutual was founded by Hugh Karp. He is an insurance professional with experience in a broad range of insurance and reinsurance roles. Also, he has been a blockchain enthusiast since 2011.
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Social stats
Popularity in posts
#2948
Contributors
1
Posts
1
% About Wrapped NXM
0.003%
Articles
0
X (Twitter)
76.71% bullish
Sentiment
5.0 ★
Highlights
1 unique individuals are talking about Wrapped NXM and it is ranked #2,948 in most mentions and activity from collected posts. In the last 24 hours, across all social media platforms, Wrapped NXM has an average sentiment score of 5.0 out of 5. Finally, Wrapped NXM is becoming less newsworthy, with 0 news articles published about Wrapped NXM.
On Twitter, people are mostly bullish about Wrapped NXM. There were 76.71% of tweets with bullish sentiment compared to 0% of tweets with a bearish sentiment about Wrapped NXM. 23.29% of tweets were neutral about Wrapped NXM. These sentiments are based on 73 tweets.
On Reddit, Wrapped NXM was mentioned in 0 Reddit posts and there were 0 comments about Wrapped NXM. On average, there were less upvotes compared to downvotes on Reddit posts and more upvotes compared to downvotes on Reddit comments.
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Information is provided for informational purposes only and is not investment advice. This is not a recommendation to buy or sell a particular digital asset or to employ a particular investment strategy. Coinbase makes no representation on the accuracy, suitability, or validity of any information provided or for a particular asset.
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