On October 28, against a backdrop of macroeconomic headwinds and volatility spurred by the ongoing COVID-19 pandemic, Nexo launched Nexonomics – a tokenomics overhaul comprising a series of upgrades and features for and around the NEXO Token.
Our decision to introduce the campaign came as a direct result of our conviction that the NEXO Token – the nucleus of our token economy – was undervalued in the current bull market, and that NEXO Token Holders deserved to get the best out of our native asset.
In less than three months, the upgrades we tirelessly worked on reinforced the NEXO Token’s utility and provided the coveted price stability for our current and future token holders. In addition to reaching an all-time high, the NEXO Token stеadily appreciated and has kept above $0.50 over the past month.
Join us in celebrating a whole list of record-breaking Nexo milestones as we plan for a brighter future with tokenomics:
- Nexo reached $4+ billion in assets under management (AUM) and has now processed $5+ billion.
- The Earn X3 in BTC campaign – a special bonus that lets you earn triple interest and have the bonus paid out in Bitcoin – brought 18,300 new clients to Nexo’s Earn on Crypto & Fiat suite.
- A record-breaking $762.6 million in new assets entered the platform in December alone. $295 million of these assets were added by first-time Nexo clients.
- The NEXO Token experienced 440% growth, marking a new all-time high of $0.76!
- With interest in the NEXO Token on the rise, 60% of clients are opting to Earn in NEXO, thus receiving a higher savings interest on their idle assets.
- Our yields are now up to 166% higher than those of the next best provider because Nexo’s rates are always in your BEST INTEREST.
- 30% of clients who did not previously qualify for preferential rates and bonuses are now benefiting from the new Loyalty program.
- We launched a $12 million Buyback program and repurchased 1,482,207.9472 NEXO Tokens at prices ranging between $0.43 and $0.60 apiece. The move was unveiled at a time when even blue-chips shelved their buybacks due to COVID-19-related market volatility.
“Far beyond driving an influx of funds and clients to Nexo in the short- to mid-term, Nexonomics is about the bigger picture – about upgrading the utility and sustaining the price of our token, over rushing towards attractive, but volatile all-time highs, about building a solid foundation for finance over quick-fix solutions. Our tokenomics embody the steady growth/big gains strategy that makes Nexo unshakeable regardless of market conditions,” commented Antoni Trenchev, Nexo’s Co-founder and Managing Partner.
Are we proud of these results? Yes. But we know we can deliver an even greater range of innovative financial services, and we will not be satisfied until the NEXO Token reaches the Moon and Nexo becomes the 360-degree bank of the future.
Thank you for helping us achieve all of this and stay tuned for more Nexonomics releases in 2021.