Read on Twitter
I have been posting about NXM in the past few days, but many of you might wonder, Why NXM? Why now?
First thing first, in a nutshell, what is NXM?
NXM is basically an insurance on DeFi tokens, NXM is designed to get you covered against smart contract failure.
NXM is basically an insurance on DeFi tokens, NXM is designed to get you covered against smart contract failure.
Here is a link to the white paper so you can learn about it more in details,
https://nexusmutual.io/assets/docs/nmx_white_paperv2_3.pdf
https://nexusmutual.io/assets/docs/nmx_white_paperv2_3.pdf
In case you don’t know yet what is DeFi about, here is a good link to explain it to you, https://defipulse.com/blog/what-is-defi/
So far more than $6 Billion are locked in DeFi, down from $10 Billion at the beginning of September.
Total DeFi users have been growing at a very rapid pace, having now nearly 400,000 users...
Source: Dune Analytics; Richard Chen
Source: Dune Analytics; Richard Chen
Why NXM?
NXM is unique in its offering but also in the way its price model works. Nexus Mutual also have the advantage of 1st mover in the insurance space in crypto.
Here is a good site to keep track of key metrics: https://nexustracker.io/
NXM is unique in its offering but also in the way its price model works. Nexus Mutual also have the advantage of 1st mover in the insurance space in crypto.
Here is a good site to keep track of key metrics: https://nexustracker.io/
Why now?
We are at a very early stage as there are only 2,624 unique addresses holding NXM...
We are at a very early stage as there are only 2,624 unique addresses holding NXM...
with only 14% of the tokens being wNXM...
NXM price collapsed in the last crypto correction, between Sept 2nd and Sept 6th, from $75 (intraday) to nearly $30. It is now back to $45 and slowly climbing up.
While many people, might have got scared by the volatility in price, the collapse was actually a great opportunity for people to purchase at a decent price.
As NXM is getting more awareness, we can expect it to outperform Ethereum short term. Especially if their model is confirmed.
Read about their model here: https://nexusmutual.io/token-model.html
Read about their model here: https://nexusmutual.io/token-model.html
Link to previous NXM posts:
How to purchase it:
https://exchange.realvision.com/post/for-the-past-few-weeks-i-have-been-taking-a-deep-dive-into-defi-and-polkado--5f5a02ae01736d2fdeff0bb3
How to convert your NXM to wNXM: https://exchange.realvision.com/post/tutorial-how-to-convert-your-nxm-to-wnxm-obviously-this-process-can-only-be--5f5a07ef2d1ced3b095e0b09
How to purchase it:
https://exchange.realvision.com/post/for-the-past-few-weeks-i-have-been-taking-a-deep-dive-into-defi-and-polkado--5f5a02ae01736d2fdeff0bb3
How to convert your NXM to wNXM: https://exchange.realvision.com/post/tutorial-how-to-convert-your-nxm-to-wnxm-obviously-this-process-can-only-be--5f5a07ef2d1ced3b095e0b09
People to follow to stay on top of it...
@Delphi_Digital @NexusMutual @HughKarp @Kevin_Kelly_II @YanLiberman
@Delphi_Digital @NexusMutual @HughKarp @Kevin_Kelly_II @YanLiberman
@threadreaderapp unroll
