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NXM (NXM)NXM
$57.06
-6.48%
NXM (NXM)
NXM Price
$57.06
-6.48%
Rank
#160
Market Cap (24H)
$394.03M
-6.50%
Volume (24H)
$1.39M
-10.12%
Circulating Supply
6,905,099
Transp. Vol.
0%
Grade
D gradeD grade
1H1D1W1M1Y
0.00%-6.48%+1.71%-12.99%+41.69%
ETH0xd7c49...9d4cf3b
ETH
Verify address & DYOR
Contract
ETH0xd7c49...9d4cf3b
ETH
Verify address w/ multiple resources & DYOR
Websitehttps://nexusmutual.io/
CommunityTwitterDiscordMedium
Nexus Mutual is an alternative crypto insurance provider running on the Ethereum blockchain. It was launched on May 30,...Read more
NXM logo
NXM
United States Dollar logo
USD

NXM Price (NXM)

NXM Daily Performance

Today's NXM price is $57.06, which is down 6% over the last 24 hours. NXM's market cap is $394.03M. 24 hour NXM volume is $1.39M. It has a market cap rank of 160 with a circulating supply of 6,905,099 and max supply of 6,905,099. NXM is traded on exchanges. NXM had an all-time high of $98.26 4 months ago. Over the last day, NXM has had 0% transparent volume and has been trading on 6 active markets with its highest volume trading pairs being .

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NXM Statistics

Summary
NXM Price (24hr)$57.06 (-6.48%)
Market Cap$394.03M (-6.50%)
Trading Volume (24hr)$1.39M (-10.12%)
Transparent Vol. (24hr)
0%
Transparency GradeD gradeD grade(Poor)
Circulating Supply6,905,099 (100.00%)
7D Price Prediction
N/A
API Coverage
1st 1D CandleJul '20
1st TradeJul '20
1st OrderbookJul '20
Exchanges4
Trading Pairs6
Updated2 hours

Price

$57.06
Price Change
-$3.9562 (-6.48%)

All-Time High

$98.26
Date of ATH5/9/2021
Days Since ATH134
% of ATH58.07%
Price vs ATH

Market Cap

$394.03M
Mkt Cap Change
-$27.41M-$27,413,011 (-6.50%)
Mkt Cap Rank160
Mkt Dominance<1%
Mkt Dominance

Circulating Supply

6,905,099
Max Supply6,905,099
% in Circulation100.00%
% in Circulation

Volume

$1.39M$1,388,652
Vol. Change
-$156,293-$156,293 (-10.12%)
Exchange VolumeUnknown

Transparent Volume

0%
Transparent Volume (Δ)
Unknown
Transparent Volume
C - 100%

About NXM

Nexus Mutual is an alternative crypto insurance provider running on the Ethereum blockchain. It was launched on May 30, 2019, with the main goal to offer protection from various risks for DeFi protocols. It is a legal foundation based in London, England. It enables members to share a critical risk directly with each other while all members’ funds are held in smart contracts run entirely on the public chain. Nexus Mutual is fully governed by its members, whose decisions are recorded and enforced by smart contracts on the Ethereum public blockchain.

On June 7, 2020, Nexus Mutual merged with Beyond Bank, as it did not have enough assets to keep up with the demand for smart-contract cover. Members with Nexus Mutual accounts were transferred over to the Beyond Bank Core Banking System.

Anyone can become a member of the Nexus platform by verifying the identity through the Know-Your-Customer (KYC) procedure, connecting the Ethereum wallet, and paying a nominal 0.002ETH fee. Being a member gives you the ability to buy, hold and swap NXM token (the native Nexus coin), buy and manage covers, participate in the network, and earn rewards. The Nexus Mutual platform is mobile compatible.

Nexus Mutual Smart Contract Cover

Soon after the Nexus’ launch, its first product, Smart Contract cover, was presented. It was developed to address security problems and protect funds from hacks. This product is designed to pay out claims when unintended code usage happens. It enables users to protect themselves against smart contracts bugs, thus preventing funds’ loss, while also allowing developers to deploy contracts with greater confidence.

The product is fully customizable, which means buyers can choose any smart contract verified by Etherscan, the cover amount in ETH that will be paid out, and coverage duration. The cover is priced in NXM, but the platform allows payment in ETH or DAI, which it exchanges for NXM. 90% of the cover price is burnt, and 10% is left for deposits to ensure an ongoing stake in the mutual. The surplus margin from Smart Contract Cover is about 30%.

Custody cover protects users who put funds into centralized exchanges and custodians. When a Smart Contract cover is purchased, the members' contributions flow into the Capital Pool, which improves the funding position of the mutual. The surplus generated from purchases is also added and then shared between all NXM holders. Nexus Mutual reward system

The platform suggests different ways of getting rewards: by assessing claims, staking on projects, and voting in governance. Shield mining campaigns allow users to earn extra rewards every week by staking on projects sponsored by the community. They are available on the Rewards page. Participants can stake their deposits up to ten times in any projects they think are secure. Pending stakes are not appropriate for rewards.

Members can also receive bounties by becoming Nexus Mutual Claims Assessors. They need to stake NXM for at least 14 days to acquire verdict power and rewards, which are proportional to the stake. The participation in voting on governance proposals allows deciding the future of the protocol and earning additional NXM coins. Nexus Mutual Token

NXM is the Nexus Mutual platform’s native utility token. NXM token is used to represent the membership rights and grant users the proportional power in the mutual.

NXM can only be purchased with ETH on the Nexus platform but its price varies. It rises when the Capital Pool, the amount of money the mutual holds, has sufficient funds and the insurance obligations are well-covered. When the mutual lacks funds, the price drops to encourage new investors to join. All funds raised from token purchases belong to members.

Only Nexus Mutual participants can buy, hold, and use NXM inside the Nexus Mutual platform. By purchasing NXM tokens users add liquidity (in ETH) to a shared pool of funds. Tokens can be used to purchase cover, vote for protocol modifications, and assess fair claims and risks. For risk assessment, members can stake NXM on a specific smart contract to show confidence in its security. If the cover is bought for that contract, the participants get rewards, but if the contract is deemed unsafe, the rate can be reduced. For claims assessment, members get rewards by staking NXM in support of a legal claim. 90% of NXM used to purchase cover is burned, and the remaining 10% is retained by the participants and can be used as a deposit when submitting claims. To lower the cover price NXM can be staked against any smart contract. When the cover is purchased the staker earns NXM. The consensus voting also earns NXM, while the non-consensus one blocks the stake for longer periods.

New tokens are minted as rewards for claims assessment making up about 3% of the cover price. Risk Assessment gives 20% of cover price minted in new NXM as a reward. Also, NXM token Custody cover service allows members to protect their funds in centralized custodians and exchanges. Wrapped NXM

NXM token can be wrapped to become freely transferable and tradable on decentralized exchanges or stored on Ethereum wallets. Wrapped NXM (WNXM) can be swapped against NXM with a 1:1 ratio. Only Nexus Mutual members who have completed their KYC procedures have the right to wrap or unwrap NXM tokens.

Nexus Mutual team and partners

Nexus Mutual has only a few team members who are professionals with many years of experience in the insurance and blockchain industries. They include Hugh Karp, the founder and CEO of the platform, James Suddaby, the Chief Operational Officer, and Ish Goel, the Chief Technical Officer. Kayleigh Petrie is the Director of Engagement at Nexus Mutual.

Among the strategic partners supporting Nexus Mutual are Yinsure platform, Balancer (a protocol that is offering bonuses for people providing liquidity), and DeFi platforms such as Aave and Compound. Nexus has also teamed up with Argent, a non-custodial Ethereum wallet provider, to bring deposit protection for cryptocurrency wallets by Nexus’ Smart Contract Cover. Nexus is a venture-backed company, which is funded by 1confirmation, Blockchain Capital, Version One Ventures, KR1, and Kenetic.

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NXM Markets

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NXM Historical Data

(Past 7 Days)
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Frequently Asked Questions

  • What’s the current NXM price? How much is 1 NXM worth?

    The price of 1 NXM is $57.06. Over the last 24 hours, a NXM is worth -6.48% less. Visit our currency converter page to convert NXM prices to currencies other than USD.
  • When did NXM start?

    The earliest trading data for NXM is on July of 2020 (based on current exchange data).
  • How high can the NXM price go?

    NXM’s price has gone as high as $98.26 (which is NXM’s all-time high). It achieved this price 4 months ago. Speculations abound for how high NXM’s price will get in the future.
  • What's the smart contract address for NXM?

    NXM's smart contract address is 0xd7c49cee7e9188cca6ad8ff264c1da2e69d4cf3b.

Today's NXM / NXM News for September 20, 2021

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