WNXM, also known as Wrapped NXM, is a cryptocurrency that is designed to provide liquidity to the Nexus Mutual platform. Nexus Mutual is a decentralized insurance platform that allows users to purchase coverage against smart contract failures and hacks. WNXM is an ERC-20 token that is backed by NXM, the native token of the Nexus Mutual platform. By wrapping NXM, users can trade it on decentralized exchanges and other platforms, providing greater liquidity to the Nexus Mutual ecosystem.

One of the key benefits of WNXM is that it allows users to trade NXM without having to lock it up in the Nexus Mutual platform. This means that users can still benefit from the price appreciation of NXM while also having the flexibility to trade it on other platforms. Additionally, WNXM can be used as collateral on lending platforms, providing users with additional opportunities to earn yield on their holdings. Overall, WNXM is an important component of the Nexus Mutual ecosystem, providing greater liquidity and flexibility to users of the platform.