Nexus Mutual (NXM) offers a decentralized insurance alternative on Ethereum, allowing members to collectively share risks, purchase diverse coverages, and actively govern the protocol. More
| Fully Diluted Valuation | $194.58M |
|---|---|
| 24H Trading Volume | $0 |
| 24H Low / High | $78.45 / $ 83.29 |
| Circulating Supply | 2.34 M |
| Total Supply | 2.34 M |
| Max Supply | 2.34 M |
| Categories | Ethereum Ecosystem 2 more |
|---|---|
| Founder | Hugh Karp |
| Website | nexusmutual.io |
| Socials | 1 more |
| Chains | Ethereum Ecosystem |
| Explorer | Arkhamintelligence 2 more |
| Contracts |
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| Name | Pair | OG Score |
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Revolutionizing the Insurance Landscape: Nexus Mutual's Inception
Launched in May 2019, Nexus Mutual is a decentralized insurance alternative protocol founded by Hugh Karp, a former executive at Munich Re. The platform operates on Ethereum, allowing members to share various risks, buy cover for smart contracts, technical failures, custodial issues, ETH staking, and more. The key differentiator is its commitment to decentralization, giving ownership and governance to individual members.
NXM Token: Powering the Nexus Mutual Ecosystem
Central to Nexus Mutual is the NXM token, representing membership rights and enabling participation in buying cover, governance, staking, and claims assessment. The token's unique aspect lies in its use of a bonding curve, determining its price based on the mutual's capital and the amount required to meet claim obligations with a specific probability.
Diverse Coverages: Nexus Mutual's Comprehensive Solutions
Nexus Mutual provides members with the ability to purchase different types of cover, safeguarding against on-chain and off-chain risks. This includes Yield Token Cover, protecting against de-pegging of yield-bearing tokens, Protocol Cover for potential protocol hacks, and Custody Cover, ensuring protection against delayed or halted withdrawals on centralized exchanges.
Community-Managed Trading: The Role of wNXM
The community-managed project, Wrapped NXM (wNXM), allows for the trading of NXM on both decentralized and centralized exchanges. While only members can hold NXM tokens, wNXM, backed 1:1 to NXM, can be freely traded outside the Nexus Mutual platform, providing flexibility and liquidity.
Decentralized Governance: The Nexus Mutual DAO
Operating as a discretionary mutual, the Nexus Mutual DAO enables members to actively contribute to governance, assess risks associated with smart contracts, and vote on claims. Voting in line with consensus rewards members with NXM, while those voting against it face token lockup. This decentralized governance model ensures active participation and collective decision-making.
Historical Inspiration: Nexus Mutual's Return to Community-Driven Risk Pooling
Nexus Mutual draws inspiration from historical risk pooling methods where communities collectively diversified their risks. Members pool their assets together to protect against vulnerabilities in the crypto ecosystem, fostering a sense of collective responsibility.
Security and Support: The Foundation's Vital Role
Prioritizing security, Nexus Mutual undergoes regular code audits and maintains a bug bounty program. The Foundation, a community interest company supporting the protocol, plays a crucial role in furthering development, creating awareness, and increasing adoption.
Nexus Mutual's Innovative Future in Decentralized Insurance
In conclusion, Nexus Mutual stands at the forefront of innovation in the crypto insurance space, offering transparency, community-driven governance, and a diverse range of coverages. By empowering individuals to collectively manage risk, Nexus Mutual is reshaping the landscape of decentralized insurance.
Nexus Mutual stands out as a decentralized insurance alternative where members collectively share risks and govern the platform, disrupting the traditional insurance industry. Its innovative use of the NXM token, bonding curve, and diverse coverages make it a pioneering force in the crypto insurance space.
Nexus Mutual was founded by Hugh Karp, leveraging his senior roles at Munich Re, including CFO of the life insurance business in the UK and Ireland. His vision led to the creation of a community-driven insurance protocol on the Ethereum blockchain.
You can buy Nexus Mutual (NXM) on cryptocurrency exchanges.
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There may be different staking options available such as to participating in DAOs, decentralized governance and revenue sharing. Please watch out for scams. Only consider staking options promoted on the official website of the project and advised partners. Please click here to see the official links and make sure to follow the latest instructions.
This data is dynamic and varies depending on the number of tokens that are being vested/vesting, removed from circulation because of network transactions or burned permanently and staking reward distribution mechanism. According to self-declared data the circulating supply of Nexus Mutual (NXM) is ($2,336,305), max supply of Nexus Mutual NXM is ($2,336,305) and the market cap of Nexus Mutual NXM is ($194,579,706).
What is the Nexus Mutual (NXM) price prediction?
Predicting prices in the crypto market is highly speculative and can't be definitively stated. Various factors drive price movements such as macroeconomics, Bitcoin ($btc) and crypto market overall behavior, on-chain activity, whale positionings, growth potential of the project etc. We cannot give any price predictions nor financial advice, but you can look at our comprehensive data, expert user reviews and decide if the product suits your needs! Please do your own research DYOR!
The current market price of Nexus Mutual (NXM) is $83. As the OGAudit community we mainly focus on features such as use cases, product development, and sustainable growth. However, we also provide real-time market data and coin/token statistics, analytics, price history for popular altcoins. see here.
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Does the team have a realistic roadmap and can catch up with it?
Does Nexus Mutual (NXM) have reasonable and sustainable revenue income models?
Can the team market their products and services well?
How decentralized is the governance and how strong is the community?
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