Nexus Mutual

NXM Price

What is Nexus Mutual?

Nexus Mutual is a decentralized insurance alternative that allows members to join and share risk. Members can purchase cover products that protect against different kinds of risk, such as smart contract risk for major DeFi protocols (Protocol Cover), ETH slashing risk, and more. Protocol Cover provides protection against a loss of funds due to hacks, exploit, oracle manipulation, liquidation failures, or governance attacks.

The Nexus Mutual protocol is built on Ethereum and provides the infrastructure for members to buy cover, underwrite risk, assess claims, and build risk management businesses.

What is the NXM token?

The NXM token is the governance and utility token backed by crypto assets held in the Nexus Mutual capital pool contract. It is used to buy cover, vote on governance decisions, and participate in Risk and Claims Assessments. It is also used to encourage capital provision and represents ownership to the mutual’s capital pool. As the mutual’s capital pool increases, the value of NXM will increase as well. 

The token’s price is determined using a Ratcheting AMM (RAMM), which is affected by both the amount of capital the mutual has and the amount of capital it needs to meet all claims with a certain probability.

The NXM token is not traded on any exchange and is only used as an internal token for Nexus Mutual. To obtain the NXM token, one must register as a member of Nexus Mutual and go through the platform’s KYC and AML processes.

There is a "wrapped" version of the NXM token called Wrapped NXM (wNXM) that is freely transferable and can be bought on the open market through cryptocurrency exchanges.

How to check the financial health status of the Nexus Mutual protocol?

Relevant on-chain financial metrics can be found in the Nexus Mutual Dune dashboards.

How are covers priced?

The price of cover is based on several criteria such as:

1. Cover Amount

2. Cover Period

3. The price of cover set by the staking pool manager(s)

How is risk assessment done on Nexus Mutual?

NXM holders can participate in risk assessment as NXM stakers, who stake and delegate their NXM to an existing staking pool, or as Staking Pool Managers, who launch their own staking pool and use the NXM in their pool (their own NXM and NXM delegated by other members) to stake against cover products, determine the available capacity, and set the price of the cover offered by their pool.

How to make a claim on Nexus Mutual?

When a loss event occurs, Nexus Mutual users who held active cover can submit a claim. They can do so by submitting a claim directly in the Nexus Mutual user interface.

Where can you buy Nexus Mutual?

NXM tokens have stopped trading - ago on all exchanges listed on CoinGecko. Information will be updated if market activity resumes.

What is the daily trading volume of Nexus Mutual (NXM)?

The 24 hour trading volume of Nexus Mutual (NXM) is $0 which signals a drop in market activity. If you own NXM tokens, liquidity of the token is likely to be low. Proceed with caution.

What is the all-time high for Nexus Mutual (NXM)?

The highest price paid for Nexus Mutual (NXM) is BTC0.006769, which was recorded on Nov 10, 2021 (about 3 years). Comparatively, the current price is -60.50% lower than the all-time high price.

What is the all-time low for Nexus Mutual (NXM)?

The lowest price paid for Nexus Mutual (NXM) is BTC0.0003986, which was recorded on Jul 22, 2020 (over 4 years). Comparatively, the current price is 955.60% higher than the all-time low price.

What is the market cap of Nexus Mutual (NXM)?

Market capitalization of Nexus Mutual (NXM) is BTC2,499.5864 and is ranked #313 on CoinGecko today. Market cap is measured by multiplying token price with the circulating supply of NXM tokens (3.2 Million tokens are tradable on the market today).

What is the fully diluted valuation of Nexus Mutual (NXM)?

The fully diluted valuation (FDV) of Nexus Mutual (NXM) is BTC2,499.5864. This is a statistical representation of the maximum market cap, assuming the maximum number of 3.2 Million NXM tokens are in circulation today. Depending on how the emission schedule of NXM tokens are designed, it might take multiple years before FDV is realized.

How does the price performance of Nexus Mutual compare against its peers?

With a price decline of -10.40% in the last 7 days, Nexus Mutual (NXM) is underperforming the global cryptocurrency market which is down -9.10%, while underperforming when compared to similar Ethereum Ecosystem cryptocurrencies which are up 12.70%.

How to add Nexus Mutual (NXM) to MetaMask?

Adding Nexus Mutual (NXM) to MetaMask allows you to view your token holdings, trade on decentralized exchanges, and more. To add them, you’ll need to import NXM as a token. You can copy NXM’s contract address (0xd7c49cee7e9188cca6ad8ff264c1da2e69d4cf3b) and import it manually, or if you've installed MetaMask's chrome extension, add NXM to MetaMask with one click on CoinGecko.

Add NXM to MetaMask.