The synthesis,properties and applications of 3-nitatomethyl-3-methyl oxetane (NIMMO) and its polymer (PNIMMO) are reviewed. With high energy,satisfied thermal stability and low mechanical sensitivity,PNIMMO can be used as a mature energetic binder in polymer bonded explosive(PBX),low vulnerability (LOVA) propellants and solid propellants. The low molecular weight linear polymers of PNIMMO can improve the mechanics characteristics of the binder system of PNIMMO in the condition of low temperature as plasticizer.