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Deep Dive into Nexus Mutual (NXM). Insurance for DeFi on Ethereum blockchain.

On NN September, Emirex listed Wrapped NXM (Nexus Mutual) for trading on the Emirex exchange. Below is detailed information about the project’s current condition and perspective.

 

Current available trading pair on the Emirex exchange: WNXM/USDT and WNXM/BTC

Nexus Mutual uses a risk-sharing pool to allow anyone to purchase an insurance cover or contribute capital to the pool for future rewards. The mutual’s first insurance product is smart contract covers for purchasing protection for value storing contracts. WNXM represents wrapped NXM tokens that are freely transferable and only KYC-ed members of the Nexus Mutual can wrap and unwrap NXM. The platform's native token, NXM, can only be purchased on Nexus Mutual and token holders are also technically members. 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. CryptoCurrency Profile Token Standard - ERC-20 NXM Price - $42.91 USD NXM ROI - 373.57% Market Rank - #62 Market Cap - $235,837,637 USD 24 Hour Volume - $39,523,672 USD Circulating Supply - 5,495,831 NXM Total Supply - 7,419,859 NXM All Time High - $82.35 USD (Aug 30, 2020) All Time Low - $6.84 USD (Jul 23, 2020) About Project

Nexus Mutual offers DeFi investors “cover” or “protection” for specific activities within the crypto ecosystem. The platform is built on the public Ethereum network. It aims to disrupt the insurance industry by transitioning the power from large insurance companies back to the individual. Thus, anyone is allowed to participate, as the mutual property is wholly owned by its members. Members can add Ether (ETH) to the pool in exchange for NXM, the protocols' native token.

Joining Nexus Mutual entails paying 0.002 ETH and filling out standard KYC/AML processes. Though it is a DeFi-centric protocol, Nexus Mutual is a legally registered company based in the United Kingdom. ...

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