What is Nexus Mutual?
Nexus Mutual is open source Ethereum Backed Decentralized finance DeFi project that aim to replace traditional financial system. The most of finance company has central entity that not fully transparent and trusted. NXM brings community driven Finance ecosystem, where member will validate claim requested by users. The major decision done by community will be record and store by smart contract, where Smart contract can set rules for Finance.
NXM Mutual project believe blockchain based Finance can eliminate insurance company, where people can share risk together. it also offers smart contract cover that help find out security and potential bug in smart contract along with also taking care of DAO hacks. NXM offers membership that gives access to buy cover and HODL NXM Token. so, when users official join NXM platform they become legal member of company and rights of membership backed by agreement.
Nexus Mutual membership operation major completed via NXM Token, however to buy covers uses need to own NXM Token. with NXM user can easily participate in governance voting, underwriting and assessment. Basically, following basic steps like connecting wallet, specify smart contract address and cover amount user will get their cover status.
NXM Price Prediction
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Kardiachain Price Prediction | BORA Price Prediction
NXM Overview
| Project name | Nexus Mutual |
| Ticker Symbol | NXM |
| Total Supply | 5,737,803 |
| Official website | Nexusmutual.io |
| Based on | Insurance Finance |
| Launched year | 2019 |
| All-time high | $187 USD |
| Exchange Platform | Bibox, Uniswap v2, MXC, Hoo |
| Wallet | Metamask |
| Partner | Incentivai, Somish Blockchain, |
NXM Price Analysis
NXM peaked at $180 USD and then hold resistance at price $90 USD to $95 USD before 2022. however, during bear market token price dipped below $59 USD and now trading at $39 USD. Nexus mutual is really important for growth of crypto space, as many ongoing scam and hack reported in recent year.
NXM token uses for governance ecosystem and also incentivization of honest irks and claim assessment. However, member can earn reward for staking and following rule of cover membership. NXM since its debut on trading platform roaring with continuous upward trend, where price hiked from $8.89 USD to $27.49 USD i.e. almost 208.7%. NXM also gained huge market volume and now already enter into top 50 largest DeFi project list as per coinmarketcap. NXM heading to cross $50 USD mark and that expected in upcoming few months.
Can NXM Reach $100 USD?
could possible in 2023.
How much NXM Worth in 2030?
Probably crossing $3000 USD.
Is NXM a Good Investment?
Yes, staking rewards and buying cover can be done while holding NXM.
Conclusion
The project was introduced in may 2019 and after being under development it launched its first ever product i.e. smart contract cover. However, insurance controlled by community without any central entity will be having strong future. Nexus mutual recently brings security, fraud resistance and instant cover decision will be taken, however it also allows user to stake their NXM token as well for passive income. The project looks solid and has unique feature that is not covered by any other Decentralized finance project.
