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🏅 Loyalty Comes in Silver, Gold and Platinum with Nexonomics

Nov 10, 2020·2 min read
Product
🏅 Loyalty Comes in Silver, Gold and Platinum with Nexonomics

With the third installment of the Nexonomics series, we present to you the new Nexo Loyalty program. Designed to give you the ultimate ease-of-use and flexibility to manage your assets, it goes live on our platform on December 9.

We believe that simple, yet proven business models work best and are reflecting this in our tokenomics, rewarding you for your loyalty to Nexo and our native token. With this core belief in mind, the new Loyalty program is a simpler, more efficient system that unifies our credit line discounts, earn bonuses, dividends, and free crypto withdrawals, making it easier to leverage your benefits, while giving the NEXO Token even greater utility.

The Loyalty Program Explained:

The new Nexo Loyalty program is a four-tier system, comprising Base, Silver, Gold, and Platinum levels, which extends benefits depending on the amount of NEXO Tokens you hold across your Nexo Savings and Credit wallets, as combined in the Portfolio Balance*.

The requirements for each tier are as follows:

  • Base: No NEXO Tokens are needed
  • Silver: At least 1% of the Portfolio Balance in your account must comprise NEXO Tokens
  • Gold: At least 5% of the Portfolio Balance in your account must comprise NEXO Tokens
  • Platinum: At least 10% of the Portfolio Balance in your account must comprise NEXO Tokens

* The Portfolio Balance is the combined value in USD of all the assets (crypto, stablecoins and fiat) in both your Credit Line AND Savings wallets. It will be visible in your newly redesigned account Dashboard (read on for details on the redesign).

The new Loyalty program bases rewards tiers on the ratio of NEXO Tokens vs. the value of all the assets in your Portfolio Balance, which must be at least 1%, 5% or 10% respectively for each tier.

The new loyalty scheme will replace the 50% credit line interest discount and the NEXO Staking Bonus for Earn accounts, which will cease to exist independently.

The New Loyalty Rates:

The new Loyalty program’s Base, Silver, Gold and Platinum tiers progressively give you greater rewards the more NEXO Tokens you hold, simultaneously reducing your borrowing rates for the Instant Crypto Credit Lines™ and increasing your yields with the Earn on Crypto & Fiat suite.

Dashboard Redesign

Our new Loyalty program comes with a redesign of your Nexo account Dashboard for a simpler, smoother and more intuitive user experience.

With the new look, your Portfolio Balance is immediately visible, so that you can see the combined USD value of the assets in your Credit Line and Savings wallets at a glance.

We have also integrated a feature that indicates which Loyalty tier you are currently in, with a function displaying how much more NEXO you need to hold to access the next Loyalty tier on hover, which makes it even easier to keep a tab on your rewards.

Check it out:

Loyalty Program > Old Nexo Bonus Model

The Loyalty program is designed to help you grow and manage your wealth now and in the long term. Below are the ways this new system takes our services to the next level:

  • Flexibility: You can choose the amount of NEXO that gets you the bonuses that best suit your needs, goals, and investment strategy.
  • Dynamics: Like our credit line, our loyalty scheme is dynamic, meaning you will still get bonus rates if the price of your crypto fluctuates, and you miss, say, the 5% or 10% thresholds for the Gold and Platinum tiers.
  • Accessibility: With the new lower thresholds for Nexo bonuses, our services are even more inclusive and easily accessible.
  • Usability: We are introducing a clearer, cleaner user experience, making it easier to calculate and keep track of the NEXO needed for bonuses.
  • Build-up: The tiered model allows us to implement further perks for clients in the near future, to be immediately unlocked as you reach a tier or a new reward is added.

Big gains for our clients and business come with big changes on our part. With the Loyalty program Nexo has taken a firm step in the direction of long-term progress and we are excited to move forward with the improvements this new system will allow us to implement for you.

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