NXM (NXM)

NXM is currently trading at $44.82, after a price change of 2.82% in the last 24 hours.

Ranked as cryptocurrency #212 by capitalization today, NXM market cap is valued at $295,563,575. NXM trading volume reached $74,806 in the last 24 hours. We track cryptocurrency data live in real-time. Make your own forecast on NXM coin price prediction page.

What is Nexus Mutual?

Nexus mutual is a decentralized insurance platform that aims to provide an alternative to traditional forms of insurance. The protocol provides multiple products created to shield users against the drawbacks of smart contracts. Nexus allows users to pool funds together to guard against the vulnerabilities in the cryptocurrency space. The token is permitted to be held by the members of the Nexus Mutual. Users seeking to be part of the platform are expected to pay a nominal fee of 0.002 ether and complete KYC and AML processes. The platform also empowers members to vote on whether a claim should be paid or not.

NXM is the primary token powering Nexus mutual. The project team initially created 3 million NXM tokens. 33% of the tokens were allocated to Nexus Mutual Foundation, 43% went to the Nexus Mutual team, while the project’s seed investors hold the remainder. The developers urge the token holders to contribute actively to the community. Members are also tasked with network governance responsibility and the risk assessment of the smart contracts. Users on the platform are rewarded with newly minted NXM tokens based on their actions.

Nexus Mutual is the creation of Hugh Karp. The project mainnet was launched in 2019.