Nexo - The Cool Crypto Lending Platform
Use your crypto as collateral for a fiat loan.
Concise Crypto
June 10, 2022
Nexo (NEXO)
What is Nexo?
Nexo is an exchange and lending platform that allows users to borrow loans in fiat or stablecoin; and to lend their crypto for rewards. These rewards are paid daily and vary depending on the coin that lent out.
Why does Nexo have value?
Nexo can provide a simple and fast way to borrow against your cryptocurrency portfolio and/or also earn interest on crypto holdings. Having easy access to loans in fiat or a stablecoin is very important for many users across the globe.
What are the Pros of Nexo?
● Users can borrow fiat against their crypto assets.
● The NEXO token offers cashback and other benefits in the Nexo platform.
● Nexo will release a card that can be funded with cryptocurrency and used for purchases on any Point of Sale.
What are the Cons of Nexo?
● Future regulation could hamper the platform.
What are NEXO’s tokenomics?
The total supply of NEXO is 1 billion. 25% was allocated to a company’s reserve; 11.25% was distributed among the founders and developers; 7% was reserved for airdrops and other community events; 5.25% went to advisors and the legal and marketing departments; and 52.5% was distributed in token sales.
Who founded Nexo?
Antoni Trenchev.
Who are Nexo’s investors?
Nexo has conducted two funding rounds and raised $52.5 million. Its main investor is Arrington XRP Capital.
Concise Crypto Grade:
B+ :Nexo is an amazing product for those that need a short term loan in ‘traditional fiat’ currency. Nexo also offers a variety of benefits for it’s token holders including discounts and increasing loan limits. We love this. In a world, where owning a protocols token doesn’t always mean much holding NEXO has some tangible benefits. As long as U.S. and global regulators don’t crack down on Nexo’s operations we think they’ll be a force to be reckoned with both in Web3 and in new finance.
Where can I buy NEXO?
Bitfinex, Huobi Global, Uniswap, Binance DEX, ProBit Global.
What ecosystem does Nexo run on?
Ethereum and Binance Smart Chain