What Is Nexo (NEXO)?
Nexo aims to be the world’s most advanced yet regulated digital assets institution fashioned to offer instant crypto loans, daily yield on assets, and exchange. Nexo seeks to stand as the world’s largest and most trusted lending institution in the current digital finance market. The platform’s mission is to solve inefficiencies in the existing lending markets by developing innovative, convenient, and sustainable solutions. To achieve this mission, Nexo is leveraging the potential of blockchain technology.
Next, the Nexo platform aims to provide digital asset holders access to currency and high-yield idle assets. At the same time, Nexo seeks to allow its network users to participate in sophisticated trading and OTC. OTC (over-the-counter) refers to private deals for trading crypto assets. In addition, the Nexo ecosystem works toward maximizing the value and utility of cryptocurrencies.
The focal goal that Nexo focuses on is to introduce efficiency, transparency, and inclusivity for the financial world. The platform aims to provide its users with a few features in order to achieve this goal:
100% Automated: The users can deposit assets, withdraw loans, and repay them independently.
No Fees: The yield rates for crypto assets are determined via the platform’s Loyalty Tier. The user decides when to pay the yield without worrying about any additional charges.
High Yield: The users can earn up to 12% yield per year on stablecoins and up to 36% on various other cryptocurrencies. Additionally, the platform doesn’t lock the assets and assets can be withdrawn anytime.
Military-Grade Security: Nexo has partnered up with world-famous custodian BitGo to aim to keep the crypto assets safe and secure. BitGo refers to a market-leading financial service that provides clients with utmost security and custody of their crypto assets.
Multi-Asset Support: The users can utilize numerous crypto assets as collateral, including BTC, ETH, XRP, SOL, BNB, and more. The value of assets decides the loan limit.
Global Platform: The network users can take an instant loan in the form of 40+ traditional currencies across 200+ countries.
NEXO denotes the token of Nexo, and the NEXO holders are eligible for higher-earning rates at low borrowing rates. Additionally, the amount of NEXO tokens users hold determines their position in the platform’s Loyalty Program.
History of Nexo (NEXO)
Antoni Trenchev cofounded Nexo in 2018 and holds the managing partner position in the company. The maximum total supply for the NEXO token is 1,000,000,000.
