Nexo (NEXO)

Nexo (NEXO)

Rank #81

$0.653096

1.16%

0.000038 BTC

NEXO
USD

MARKET CAP

$365.733M

ALL TIME HIGH

$4.63

VOLUME 24H

$5.804M

CIRC. SUPPLY

560M

VOL/MCAP

2.00%

TOTAL SUPPLY

1B

DILUTED MCAP

$653.621M

MAX SUPPLY

1B

1H USD

0.41%

24H USD

1.16%

7D USD

7.47%

30D USD

0%

60D USD

0%

90D USD

0%

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All About

What is NEXO?

 

Nexo is a blockchain-based lending platform that offers users instant cryptocurrency-backed loans. Users deposit an accepted token — such as Bitcoin (BTC), Ether (ETH), Litecoin (LTC) or XRP (XRP) — as collateral to receive a loan in the form of a fiat currency or stablecoin.

Nexo has a native token, NEXO, that when locked in the platform grants users benefits such as discounts on interest accumulated on loans and the opportunity to receive interest payments on funds deposited. Token holders also receive dividends from Nexo's profits.

Outstanding Futures

What Makes Nexo Unique?

According to its whitepaper, Nexo is the first-ever provider of instant cryptocurrency-backed loans and it intends to solve inefficiencies in the lending market. Its automated lending process uses smart contracts and an oracle on the Ethereum blockchain to manage loans. After a user transfers cryptocurrency to a Nexo-controlled wallet, the oracle establishes the loan and the user is instantly allocated the funds. When the user makes a deposit in order to repay the loan, the oracle returns the cryptocurrency and records the transaction on the blockchain. Smart contracts are used to power NEXO and to record user balances.

Nexo is marketed to individual and institutional investors, cryptocurrency companies, exchanges, miners and others who want liquidity from their assets. The company makes a profit from the interest accumulated on loans, and it also offers institutional lending and consulting services.

Nexo seeks to build a user base of clients that continue to use the platform and remain invested in NEXO. As such, the company announced a loyalty program that rewards those who keep NEXO in their accounts, giving them preferential interest rates on loans and higher yields on savings. Nexo also distributes 30% of its profits to NEXO token holders in the form of dividends.

Read Full Article: CLICK HERE

 

 

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