Exchange rate Nexo:
2.93zł
Market capitalization
Volume (24h)
Supply in circulation
All-Time High
All-Time Low
Popularity by CMC
| 1h | 24h | 7d | 14d | 30d | 1y |
|---|---|---|---|---|---|
| -1.62% | -2.44% | 0.43% | -39.22% | -43.41% | -47.96% |
Oceń kryptowalute
Table of content
- What Is Nexo (NEXO)
- Who are the Founders?
- Potential Features of Nexo
- Nexo Wallet
What Is Nexo (NEXO)?
Nexo is a blockchain-based lending platform that provides customers with instant cryptocurrency loans. Customers deposit a token - such as Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) or XRP (XRP) - as collateral, and they receive a loan in fiat currency or a 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. The project was first announced in December 2017, and it launched in April 2018.
Who are the Founders?
The collective behind Nexo has a combined experience of over 30 years in financial services, including non-crypto lending, investment banking, mergers and acquisitions, and hedge funds, with Co-founder and Managing Partner Antoni Trenchev additionally contributing with experience in Finance Law and in KYC and AML solutions. Renchev, who has served as the public face of Nexo's leadership, is a longtime advocate for blockchain adoption, including serving as a Bulgarian national assembly member from 2015 to 2017.
Nexo currently services over a million users in more than 200 jurisdictions and manages over $4 billion in assets. It has 150 employees, with its headquarters in London.
Potential Features of Nexo
- In its whitepaper, Nexo describes itself as the first company to offer instant cryptocurrency-backed loans and as the first to remove inefficiencies from the lending market through a smart contract and an oracle embedded in the Ethereum blockchain. The oracle establishes the loan after the cryptocurrency is transferred to a Nexo wallet, and the funds are allocated to the user immediately. After the user repays 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.
- It is Nexo's goal to build a client base that continues to use NEXO and remains invested in the platform, which is why it has created a loyalty program that rewards customers who retain NEXO in their accounts with preferred interest rates on loans and higher yields on savings
