Nexo — a blockchain-based lending platform that offers users instant, cryptocurrency-backed loans.
Contents:
About Nexo project
To use the project’s services, users deposit an accepted token — such as Bitcoin (BTC), Ether (ETH), Litecoin (LTC) or XRP (XRP) — as collateral for a fiat currency or stablecoin loan. The cryptocurrency project has its own NEXO token, participants, blocking it on the blockchain platform, receive benefits such as discounts on interest, accumulated on loans, and the ability to receive interest payments on deposited funds.
Token holders also receive dividends from Nexo's profits. Nexo currently serves over a million users in over 200 jurisdictions, managing over $4 billion in assets. The company currently has 150 employees and management, based in London.
Nexo features
The Nexo platform aims to build a user base of customers who continue to use the platform and continue to invest in NEXO.
Key features:
| The supplier | The world's first provider of instant crypto-backed loans, who intends to eliminate inefficiencies in the lending market. |
| Investors | The project is intended for individual and institutional investors, cryptocurrency companies, exchanges, miners and others who need liquidity from their assets. |
The company also announced a loyalty program that rewards those who hold NEXO in their accounts by providing them with preferential interest rates on loans and a higher return on savings. Nexo also distributes 30% of its profits to NEXO token holders in the form of dividends.
Tokenomics and security
Nexo has a fixed supply of 1 billion tokens. Of this amount, deliveries were distributed as follows:
- 25% for the company's overdraft financing reserves subject to a 12-month vesting period with a six-month break;
- 11.25% for founders and team subject to a 48-month quarterly vesting period;
- 6% for community building campaigns and airdrops with an 18-month quarterly vesting period;
- 5.25% on consultants, legal fees and marketing subject to a 12-month vesting period;;
- 52.5% for sale to investors;
The project's native token - an ERC-20 token, issued on the Ethereum blockchain, which means that any NEXO transactions on the network are verified and protected by the Ethereum mainnet, using the Ethash Proof-of-Work consensus algorithm. Miners compete with each other to add new blocks to the blockchain, and the majority of all nodes in the network must confirm the entry in order for it to be published.
Where can I buy it?
NEXO coin can be purchased on the following cryptocurrency exchanges:
- UPEX;
- Huobi Global;
- Hoo;
- Bitrue;
It can be traded against fiat currencies such as the South Korean won and Indian rupee, cryptocurrencies such as Bitcoin (BTC) and Ether (ETH), and the stablecoin Tether (USDT).