Volume (24h)
$22.75
-0.08 %
Total supply
118,793 ARNXM
Max. supply
358,026 ARNXM
Armor NXM (ARNXM)
$ 53.20
-0.08 %
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Key data
updated $0Market cap$0
Volume 24h$22.75
Armor NXM (ARNXM) is a token designed to provide decentralized insurance coverage within the crypto ecosystem. It leverages the Armor platform, which allows users to insure their digital assets against risks like hacks or smart contract vulnerabilities. ARNXM simplifies access to DeFi insurance in a user-friendly way.
Frequently asked questions
What is Armor NXM (ARNXM) and how is it different from NXM?
Armor NXM (ARNXM) is a tokenized version of NXM, the native token of Nexus Mutual, but it’s designed for easier use outside the Nexus platform. Unlike NXM, ARNXM can be traded freely and doesn’t require KYC, making it more accessible for DeFi users.
How does Armor NXM’s technology work?
ARNXM operates on the Ethereum blockchain and uses smart contracts to facilitate decentralized insurance. It integrates with Armor’s platform, which aggregates coverage from Nexus Mutual, allowing users to insure their assets seamlessly.
How is ARNXM issued and distributed?
ARNXM is minted when users deposit NXM into the Armor platform. It’s backed 1:1 by NXM held in reserve, ensuring its value is directly tied to the underlying asset. Users can redeem ARNXM for NXM at any time.
How do I store and use ARNXM?
ARNXM is an ERC-20 token, so it can be stored in any Ethereum-compatible wallet like MetaMask or Ledger. It’s used to access insurance coverage on the Armor platform or traded on supported decentralized exchanges.