What is Armor NXM (arNXM) ?
Armor NXM (arNXM) Review this documentation to learn about Armor. These docs are in active development. The information presented in this gitbook supersedes any other communication regarding rules of Armor protocol. is a smart cover aggregator for DeFi which provides Pay as You Go coverage for user funds across various protocols.
Protect your investments against smart contract risks across popular protocols such as Uniswap, Sushiswap, AAVE, Maker, Compound, Curve, Synthetix, Yearn, RenVM, Balancer and more.
Armor insurance is underwritten by Nexus Mutual, with added features:
- Permissionless (No sign-up required)
- Pay as you go coverage across various protocols
- Flexible amount/ duration coverage, only pay what you owe
Armor NXM (arNXM) Storage Key Points
|Coin Name||Armor NXM|
|Source Code||Click Here To View Source Code|
|Explorers||Click Here To View Explorers|
|Twitter Page||Click Here To Visit Twitter Group|
|Whitepaper||Click Here To View|
|Official Project Website||Click Here To Visit Project Website|
Armor NXM (arNXM) tracks exact amounts of user funds as they dynamically move across various protocols, and bills by the second using a streamed payment system. The result is minimized costs and maximized flexibility!
A True Smart Cover SolutionLimitations of Nexus Mutual coverage:
- KYC required
- Coverage cannot be refunded or resold
- Coverage has to be purchased separately for each protocol, for set pre-specified amounts
- Coverage once purchased cannot be modified
The Baby Step
Armor NXM (arNXM) NFTs tokenized coverage which removed KYC requirements and opened a secondary marketplace to resell coverage to possible buyers. However, it is still clunky UX and has the same remaining limitations as Nexus mutual.
The ARMOR Leap
Armor provides a true smart coverage solution for dynamic coverage of user funds across various DeFi protocols. Armor automatically tracks user funds as they move across protocols in real time, and allocates exact amounts of coverage so that your funds are always protected. What’s more, you only pay for the coverage amount you used, and for the time you used it for.
Coverage Solutions AggregatorThe Armor network coverage is underwritten by Nexus Mutual. the will add support for other coverage products in the future as the market matures.
Fully Collateralized Coverage
Armor NXM (arNXM) Nexus Mutual has a stringent risk policy with a proven track record and deep capital pool availability to ensure that user funds are always fully collateralized, and the full amount of claims can be paid.
Chain-Verified Claims Process
Armor NXM (arNXM) When a claim is submitted to Armor, it will trigger a review process where withdrawals are limited and governance will investigate and determine whether or not a claimable hack took place. If a hack has occurred and user funds are affected, then governance may proceed to submit the claim to Nexus Mutual’s claims process.
Armor token holders will also participate in Nexus Mutual’s process for claim approvals and payouts as a proxy mechanism for the NXM delegated to the ArNXM vault. When a payout is confirmed, they will be received to Armor’s payout treasury then distributed to an airdrop faucet for affected recipients to claim their payout from.
Armor NXM (arNXM) provides coverage on various DeFi protocols such as Uniswap, AAVE, Maker, Compound, Curve, Synthetix, Yearn, RenVM, Balancer and more. Coverage availability is dependent on the type of arNFTs staked. An exhaustive list can be found here. Billing is calculated separately for multiple wallets and pooled.
This pooled amount can be approved for payments with a single transaction from any wallet of a user’s choice. The user may adjust which assets and/or quantities to cover at any time. The user must maintain a minimum balance in the wallet sufficient to cover the costs of the coverage. Whenever a change is detected by the system, a request is automatically sent to the user to adjust their coverage if they wish. Upon confirmation, the user will stay fully protected from smart contract hacks.