About Wrapped NXM

Wrapped NXM is a decentralised insurance substitute developed by Nexus Mutual Protocol and reserved for wrapping and unwrapping by KYC-ed members. Its value is driven by formulas that take into account variables like Minimum Capital Requirement (MCR) and MCR percentage which are controlled by members already on Nexus Mutual. Double layered security is made possible when transacting WNXM by storing assets in the in-house developed wallet software and storing them on the owner’s computer or phone. Alternatively, holders can choose to store WNXM on dedicated hardware wallets such as Ledger Nano X or low cost mobile wallets such as Atomic Wallet and Coinomi. With a hashing algorithm that borrows from the ETH Token algorithm, Wrapped NXM is set to become one of the most transacted coins in the future.