Wrapped NXM (wNXM) is a 1-to-1 backed token that can only be generated by wrapping genuine NXM.

NXM can only be traded among Nexus Mutual members, while wNXM is fully tradable but can't be used at all within the Nexus Mutual protocol.

## What Is Nexus Wrapper?

The Nexus Wrapper was created by Nexus Mutual members who wanted the option to wrap NXM into a token that could be traded on decentralized exchanges and centralized exchanges.

The Nexus Wrapper application was created by the PepperSec team.

Both the Nexus Wrapper and the wNXM token are managed by Nexus Mutual DAO community members.

## Where Can You Buy Wrapped NXM (WNXM)?

If you would like to know where to buy Wrapped NXM at the current rate, the top cryptocurrency exchanges for trading Wrapped NXM stock are currently Binance, Uniswap V2, Uniswap V3, Huobi, and OKX. You can find others listed on our crypto exchanges page.

The Nexus Mutual protocol provides the infrastructure for members to buy cover, underwrite risk, assess claims, and build risk management businesses. Within the protocol, the native token NXM is used to share risk and participate within the mutual.

The token leverages a bonding curve to determine the price, which is driven by how much capital the mutual has and how much capital it needs to meet all claim obligations with a certain probability.