Mobile app

Download our application  to be informed.

j j

Already registered?
Login
Follow us

Current rate

Check the current cryptocurrency exchange rate.

Rate Wrapped NXM 269,60 PLN

Change (24h): 0,00%

Current
Marketcap

62 609 087 USD 5.14%

In stock
Volume

1 014 776 USD 52.49%

Highest rate
ATH

133,03 USD -50.52%
12-05-2021

Started at: 01-01-2017, Concept: Not mineable
Tags: Ethereum (ETH) Token (ERC-20)

Calculator WNXM / PLN

How is 1 Wrapped NXM?

WNXM0 PLN
PLN0 WNXM
Do you know how buy Wrapped NXM?

Description

Wrapped NXM, commonly referred to as WNXM, serves as a crucial ERC-20 token that bridges Nexus Mutual, a pioneering decentralized insurance protocol, with the broader decentralized finance ecosystem. While Nexus Mutual provides essential risk coverage for various crypto-native risks, its native NXM token is designed to be non-transferable and can only be purchased or redeemed directly through the mutual’s smart contracts. WNXM was created specifically to address this limitation, offering a liquid and tradable representation of NXM on decentralized exchanges and other DeFi platforms.Nexus Mutual operates as a community-driven mutual, where members collectively pool capital to provide protection against smart contract exploits, exchange hacks, stablecoin de-pegging events, and other emerging crypto-related risks. The protocol offers a unique alternative to traditional insurance, leveraging blockchain technology to create a transparent, member-owned risk coverage solution. Members who wish to participate in the mutual’s governance, stake capital to provide cover, or assess claims must hold and interact with the original NXM token. NXM holders play a vital role in the protocol’s operations, ensuring proper risk assessment, voting on claims, and contributing to the mutual’s capital pool.The existence of WNXM is purely pragmatic. By wrapping NXM into an ERC-20 token, it gains compatibility with virtually all decentralized exchanges, lending protocols, and other DeFi applications that support the ERC-20 standard. This transformation enables NXM holders to access liquidity for their tokens without directly redeeming them from the mutual, facilitating easier entry and exit for those looking to gain exposure to Nexus Mutual’s growth or utilize NXM as collateral in other DeFi activities. It essentially tokenizes the value of NXM, making it more accessible to a wider audience of crypto participants who are accustomed to trading and interacting with standard fungible tokens.WNXM’s primary utility lies in its tradability and composability within the DeFi landscape. It allows for seamless price discovery for NXM, enables market participants to speculate on the future growth of Nexus Mutual, and integrates the mutual’s economic activity into the vast network of decentralized applications. While holding WNXM does not directly confer governance rights or staking opportunities within Nexus Mutual itself, it offers a liquid proxy for the underlying NXM token. To participate in governance or provide cover, WNXM must first be unwrapped back into NXM. This ingenious mechanism ensures that Nexus Mutual’s core functions remain protected by its unique tokenomics, while simultaneously offering the benefits of liquidity and interoperability that are vital for widespread adoption in the fast-paced world of decentralized finance.

Do you have account on KryptoBot?
Current cryptocurrency prices

On our site, all cryptocurrency rates refresh every 60 seconds, 24 hours a day.

Marketcap
  • 0 USD
  • Change: %
Volume
  • 0 USD
  • Change: %
Cryptocurrencies
  • All: 8 339
  • Active: 32 160
Exchanges
  • All: 1 268
  • Active: 360
Polecamy
Recommended