Wrapped NXM (WNXM) is an ERC-20 token that represents Nexus Mutual (NXM) on the Ethereum blockchain on a 1:1 basis (1 NXM can be converted to 1 WNXM, and vice-versa). Nexus Mutual (NXM) is a decentralized insurance platform founded by Hugh Karp in 2017, built on the Ethereum blockchain. It empowers members to share risks and purchase various cover products. Governed by The Foundation and the Nexus Mutual DAO, the protocol allows for risk underwriting, claims management, and the creation of risk management enterprises. The NXM token, central to the ecosystem, facilitates on-chain and DAO governance, staking, and claims assessment. The token operates on a bonding curve model, ensuring a balance between having ample funds for claims and not hoarding excess capital.
