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NXM Token

Why do you need a token?

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.

How is the token price determined?

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.
For more detailed information, see the Token Model page.

Are there any educational resources to better understand NXM Tokenomics?

Yes, there is!
For an in-depth review of NXM Tokenomics, you can review the Tokenomics Expert Course on the Community Notion board.

Did a Token Generation Event take place at launch?

No. We have launched with a live, working product on the Ethereum mainnet and the platform was immediately available for use by the community.
Tokens can be purchased directly from the platform for use in buying cover, Risk Assessment, Claims Assessment and Governance.

When did you launch?

Nexus Mutual was launched on 30 May 2019. You can read our ‘We’ve Launched’ Medium post for details about the initial launch. You can check out the Nexus Mutual app here.

Are you listed on exchanges?

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.
Tokens will be redeemable directly from the platform for ETH, subject to some restrictions.

Can I transfer the tokens?

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.

What is the wNXM token?

The wNXM is a community-managed project. Members can use the Nexus Wrapper application to sell their tokens outside of the Nexus application.
For more detailed information, you can read wNXM and Nexus Wrapper: Community Run Program.