Wrapped NXM Price(WNXM)

The development of WNXM stems from the collaborative efforts of the Nexus Mutual community, specifically the members within its Decentralized Autonomous Organization (DAO). The creation of the wrapping application was carried out by the PepperSec team, which was instrumental in the initial technical implementation of the wrapping process. Today, the governance of WNXM is overseen by the members of the Nexus Mutual DAO, who manage important aspects such as smart contract updates and ecosystem enhancements.

Hugh Karp, the founder of Nexus Mutual, conceptualised the protocol as a decentralized alternative to traditional insurance in 2017. While he did not directly create WNXM, the design principles he championed—especially regarding compliance and regulatory alignment—have been fundamental to the development of the wrapped token. WNXM governance is further integrated within the Nexus Mutual DAO, where NXM holders participate in voting on proposals that significantly affect the ecosystem, including adjustments related to the wrapper's structure and functionality.