Armor NXM ARNXM

Armor NXM, also known as arNXM, is a feature provided by Armor, a DeFi coverage aggregator. arNXM allows users to swap and deposit their (w)NXM tokens, which are a form of collateral used to secure DeFi assets. By using arNXM, users can earn yield on their deposited tokens.

Armor NXM is not a cryptocurrency itself, but rather a platform and protocol that focuses on providing decentralized insurance coverage for DeFi assets. It is built on top of the Nexus Mutual ecosystem, which is a decentralized insurance platform.

What makes Armor NXM unique is its ability to aggregate coverage from multiple insurance providers, offering users a wider range of options to protect their DeFi assets. This means that users can choose the best coverage terms and pricing available in the market.

Additionally, Armor NXM introduces innovative features such as arNFTs, which are insurance coverage tokens that can be bought, sold, or staked for rewards. This allows users to not only protect their assets but also potentially earn additional rewards through the trading or staking of these tokens.

Overall, Armor NXM provides a comprehensive and user-friendly solution for securing DeFi assets against hacks and other risks, making it unique in the cryptocurrency space.