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logoWrapped NXM (WNXM)

Wrapped NXM Tokens that are Freely Transferable.
  • WNXM represents wrapped NXM tokens that are freely transferable and only KYC-ed members of the Nexus Mutual are able to wrap and unwrap NXM.
  • Regular NXM tokens are membership tokens of the Nexus Mutual, a blockchain based mutual where Smart Contract Cover can be purchased from.
  • NXM tokens accord members of the Nexus Mutual governance, risk and claims assessment rights.
  • NXM can also used be used to purchase cover from the mutual, of which 90% of NXM used to purchase cover is burned, with 10% retained by the member and can be used as deposit when submitting claims.
  • Nexus Mutual uses a Continuous Token Model and the price of NXM depends on how the mutual is performing financially.
  • The NXM price is formula driven and its variables are based on the Minimum Capital Requirement (MCR) and MCR%, which is determined by the members of the Nexus Mutual.

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