NaymPrice

(NAYM)

Nayms transitions the entire insurance lifecycle—including capitalization, underwriting, and claims—onto the blockchain. Unlike traditional insurance which relies on high-fee brokers and slow banking processes, Nayms enables capital providers to offer liquidity directly to insurance programs via smart contracts. This decentralized approach increases efficiency, reduces overhead costs, and creates a more transparent marketplace for reinsurance by removing traditional intermediaries.

Yes, Nayms is fully regulated by the Bermuda Monetary Authority (BMA). The project holds both a Digital Asset Business License and an Innovative General Business Insurance License. This dual regulatory standing allows the platform to legally process insurance premiums and payouts using cryptocurrency, bridging the gap between institutional finance and Web3 technology while ensuring compliance with international insurance standards.

$NAYM serves as the ecosystem's governance and utility token. It is primarily used to capitalize the Nayms Liquidity Facility (NLF), which acts as a strategic third-party capital provider for various insurance programs on the platform. By staking $NAYM, holders contribute to the liquidity of these pools and are entitled to a share of the profits generated by the underlying insurance activities, aligning the interests of token holders with the platform's performance.

Users can stake $NAYM through the official dApp to earn rewards based on the performance of insurance programs underwritten by the NLF. A key feature is the Staking Multiplier, which incentivizes long-term participation. By locking tokens for longer periods, users increase their "staking weight." This weight can boost their share of the reward distribution by up to a theoretical 2x, rewarding committed community members with a higher proportion of the generated yield.

$NAYM is a standard ERC-20 token built on the Ethereum network. To enhance efficiency and minimize gas costs for specific insurance contracts, the project also utilizes Layer 2 scaling solutions like Base. While the token itself is secured by Ethereum’s infrastructure, the rewards for stakers are tied to the performance of the insurance pools. If these programs face significant insurance claims, the distributions to the NLF—and consequently to the stakers—may decrease.

$NAYM is available for purchase on LBank and other prominent digital asset trading platforms. For users who prefer self-custody and decentralized options, the token can also be found on decentralized exchanges (DEXs) like Uniswap. By providing access through platforms like LBank, the project ensures that global users have a secure and liquid environment to trade the token and participate in the decentralized reinsurance market.