wNXM is a token by the Decentralised Autonomous Organisation (DAO) known as Nexus Mutual. The main goal of the NXM token is to tokenise membership. Tokens can buy claims assessments, risk management, and governance within the NXM protocol. However, the wNXM token goes beyond what Nexus Mutual or NXM can do. wNXM can be owned by any Ethereum address but NXM must only be owned by members of the NXM network. That means the wNXM token allows users to have a version of the NXM token that is freely tradable among users. In addition, it can be acquired by an automated market maker such as Uniswap. Technically, Know-Your-Customer Users (e.g., NXM members) are the only people who can wrap and unwrap the NXM token. That is because the core token supply of NXM has to remain compliant with regulatory standards.
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