Wrapped NXM (NXM)

Wrapped NXM (NXM) is a cryptocurrency part of the Nexus Mutual ecosystem. Nexus Mutual is an insurance alternative for the crypto industry and beyond, offering comprehensive coverage and complete transparency. With over $4 billion in cover underwritten, $69 million in active cover, and $17 million+ in claims paid, Nexus Mutual provides deep capacity for risk protection.

Wrapped NXM offers superior protection for various risks, including protocol failures, penalties, missed rewards for ETH validators, depegging events for interest-bearing tokens, and losses on centralized exchanges. Members of Nexus Mutual can buy cover products, and the cover capacity is sourced from staking pools. Risk is assessed and managed within these pools, allowing members with expertise to create and manage staking pools, underwrite risk, and earn fees. Additionally, with the launch of Nexus Mutual V2, members can delegate their staked NXM, provide liquidity to risk experts, and earn rewards when other members purchase cover.

Nexus Mutual prioritizes the security of its protocol. Industry-leading auditors have reviewed its code, and the team works with Immunefi to manage a bug bounty program that incentivizes responsible vulnerability disclosures. By staying informed through weekly updates, members can be confident in the safety and reliability of the Nexus Mutual ecosystem. As an insurance alternative for crypto and more, Nexus Mutual provides a member-powered risk marketplace that promotes transparency, trust, and peace of mind.