Wrapped NXM (WNXM) is a cryptocurrency token representing a wrapped version of the NXM token, which is native to the Nexus Mutual protocol. It is used to provide a decentralized insurance service that covers smart contract failures on the Ethereum blockchain. WNXM enables users to own and trade NXM tokens without undergoing the Know Your Customer (KYC) process required for native NXM tokens.
WNXM operates on the Ethereum blockchain as an ERC-20 token. It is created by wrapping genuine NXM tokens on a 1-to-1 basis. This is done via a smart contract that allows NXM tokens to be traded on various exchanges, thereby increasing liquidity outside the Nexus Mutual protocol. To use these tokens within the Nexus Mutual ecosystem, they must be unwrapped into NXM by a registered member.
Wrapped NXM can be used for several purposes, including:
Wrapped NXM was created to enable easier trading and transferability of Nexus Mutual's NXM tokens. The Nexus Mutual protocol was founded in May 2019 by Hugh Karp and is aimed at decentralized insurance. WNXM bridges the accessibility gap by eliminating the KYC requirements associated with NXM. It has been strategically integrated into the DeFi ecosystem to broaden its use cases and has experienced significant market interest and integration with various DeFi platforms.
The Wrapped NXM price is $113.97 AUD, representing a -5.24% from the day prior.
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The trading volume of Wrapped NXM (WNXM) is $849.7K AUD in the last 24hrs, representing a -5.24% from the day prior.
Wrapped NXM (WNXM) can be purchased on Coinstash with AUD or by trading other cryptocurrencies for it. Coinstash offers various AUD deposit methods including bank transfers, POLi and PayID.
The current market cap of Wrapped NXM (WNXM) is $129.7M AUD.
Yes - With Coinstash you can convert your Wrapped NXM (WNXM) to AUD instantly. You can also withdraw AUD to your Australian bank account instantly and for free with no withdrawal fees.
The current circulating supply of Wrapped NXM (WNXM) is 1.2M.
Yes - Coinstash is one of Australia's safest and most trusted platforms for buying and selling Wrapped NXM (WNXM) and other cryptocurrencies. Coinstash's industry-leading security practices provide the highest level of protection for your investments. Coinstash is licensed, compliant and AUSTRAC registered in Australia. You can learn more about our security practices.