A token is needed in order to bind together the internal economics of the mutual, so that the platform can:
- Dynamically react to the prevailing conditions and capitalisation levels; and
- Reward active members for participating in the day-to-day operations of the mutual.
Nexus Mutual uses a token bonding curve (also known as a continuous token model), with the price in ETH driven by two main factors:
- How much capital the mutual has; and
- How much capital the mutual needs to meet all claims with a certain probability.
Yes, there is!
No. We have launched with a live, working product on the Ethereum mainnet and the platform was immediately available for use by the community.
The NXM token is not listed on exchanges and the mutual does not expect to list NXM on exchanges in the future. Due to the nature of the token model and the requirement for tokens to belong to members only, any exchange listing would have to be bespoke.
Yes, as long as the address being transferred to is also a Nexus Mutual member—the transaction will fail if this is not the case.
The wNXM is a community-managed project. Members can use the Nexus Wrapper application to sell their tokens outside of the Nexus application.