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WNXM Coin is a token used to dynamically respond to current conditions and capitalization levels. It is also used to reward active members who participate in daily operations of the partners, according to the statements made.
In this article, we will discuss topics such as “WNXM token, WNXM Binance, buying WNXM, where to buy WNXM Coin”.
What is Wrapped NXM Coin?
Wrapped NXM Coin is a cryptocurrency used to interconnect the internal economy of a partnership. Nexus Mutual uses a token bonding curve where the price on ETH is driven by two main factors. Accordingly, the price is determined based on how much capital people have and how much capital is needed to meet all mutual claims with a certain probability.
According to the platform’s statements, the concept of insurance comes from communities that pooled their resources to protect each other from risks they faced in the past. The system works better as the numbers become more reliable and as there are more people in the pool. However, this method is not scalable because it is a trust-based system. Thus, traditional insurance companies emerged.
Moving from this point, Nexus Mutual states that when Ethereum and smart contracts emerged, they realized they could apply their knowledge of the insurance industry with a passion for decentralized technology. They determine that a mutual relationship can be established on a platform where not everyone, but only individuals need to trust each other.
Nexus Mutual aims to bring a decentralized alternative to the insurance ecosystem. With the goal of returning the power of insurance to the people, it uses Blockchain technology created mutually. The platform, built openly on the Ethereum Blockchain, allows everyone to become a member and a shareholder.
On the other hand, since the platform is completely owned by the members, it replaces the concept of a traditional insurance company. The model encourages participation as members will receive economic incentives for risk assessment, claim assessment, and governance involvement.
What is WNXM?
WNXM is the native cryptocurrency of the Nexus Mutual platform. Additionally, for those interested in topics like “buying WNXM, where to buy WNXM Coin”, it is useful to mention the figures for the WNXM token.
According to CoinGecko data, at the time the article was prepared for publication, the WNMX token, trading at $45.72, currently has a supply of 2.5 million and is stated to have a maximum supply of 2.55 million tokens.
Additionally, the WNXM token currently has a market cap of $116,457,423. With this market cap, the WNXM token is ranked 93rd in terms of market value. It is also worth mentioning that the lowest value of WNXM in 23 hours was $45.66 and the highest was $64.30.
Wrapped NXM Coin Review
Wrapped NXM is considered particularly important because the platform behind it focuses on a significant area like insurance. However, being a very new token, it can be said that investors are somewhat hesitant.
In addition, it is commented that the Binance listing, like almost every token, has a positive effect on the WNMX token.
How to Buy Wrapped NXM Coin?
WNXM can be purchased from Binance. Binance, being the world’s largest cryptocurrency trading platform in terms of trading volume, allows you to safely carry out your transactions.
