Nexus Mutual leverages the power of Ethereum to enable people to pool risks together without the need for traditional insurance companies. Operating on a risk-pooling model, it features a risk-sharing pool that is managed by community members holding NXM tokens (the native token of Nexus Mutual), who vote on the validity of specific claims.
wNXM is a 1:1 token representation of NXM (Nexus Mutual).

Project Introduction

The wNXM token is a freely transferable version of the NXM token, and only Nexus Mutual members who have passed Know Your Customer (KYC) identity verification can convert between wNXM and NXM tokens.
The NXM token is the membership token for the mutual fund on Ethereum, allowing fund members to purchase smart contract insurance.
Holding NXM tokens grants members platform governance rights and the ability to hold coverage.
90% of the NXM tokens used to purchase insurance are burned, while the remaining 10% serves as the insurance claim fund.
Nexus Mutual employs a Continuous Token Model where the unit price of the NXM token depends on the mutual funds performance.
The price of the NXM token is based on the Minimum Capital Requirement (MCR), which is the minimum capital required for claims, and the MCR%, a parameter determined by fund members.