What is Wrapped NXM (WNXM)?
NXM token itself is created solely for internal use within the Nexus Mutual protocol and all of its holders must go through KYC. As such, a wrapped version is created to allow more users to own the token without having to do KYC. In the meantime it also improves its liquidity outside the protocol’s bonding curve by being listed on exchanges such as Uniswap and Binance. To make use of the wNXM token, it first needs to be unwrapped into NXM by a registered member of Nexus Mutual. After it is unwrapped, wNXM becomes NXM and can be used as a normal token on the Nexus Mutual platform.
Where can you buy Wrapped NXM?
Wrapped NXM (WNXM) is traded on a wide range of centralized and decentralized exchanges. The most liquid markets for WNXM sit on tier-1 venues - the sort of exchanges where institutional desks and professional market makers rebalance continuously - which is what keeps the spread tight and the last price tied closely to fair value.
The price and 24-hour volume on this page combine the exchanges ReadPrices tracks for WNXM. Before you trade, compare the fee schedule and the order-book depth on the venue you plan to use: the same coin can cost noticeably more to buy on a thin market.