Nexonomics is here with not one, but TWO big upgrades!
We are bumping interest rates for the Earn suite to a whopping 8% APY for cryptocurrencies and an equally exciting 12% APY for fiat and stablecoins, as well as giving you even more bang for your NEXO Tokens.
Meet Earn UP and Earn in NEXO, the new launches that mark the start of a new chapter in our tokenomics.
Earn UP: Nexo’s New Savings Yield
With the new yield, all clients holding BTC, ETH, LTC, BCH, XRP, XLM, EOS, TRX, LINK, and PAXG in their Nexo Wallets receive:
- The new base rate of 5% APY
- The new 6% APY when 10% of their holdings comprise NEXO Tokens
Previously, our interest rates ranged between 4% and 5% on crypto. We are delighted to offer this 1% bump in our savings interest rates, but that’s not all – our second Nexonomics reveal can hike up your yield even more. Check it out:
Earn in NEXO: А Better Way to Earn
The new Earn in NEXO bonus provides an extra 2% interest on all your assets when you opt to receive your payout in NEXO Tokens. With Earn in NEXO’s premium rates you can now earn:
- Up to 8% on cryptocurrencies
- Up to 12% on stablecoins and fiat
Earn in NEXO works in confluence with the standard NEXO staking bonus, enabling you to amass the tokens you need for our standard bonus while receiving an extra 2% on top of it, thus bringing the maximum interest rates for the Earn suite to 8% and 12% respectively for cryptocurrencies, and fiat and stablecoins. In addition to offering one of the most competitive yields in the crypto space, this new option incentivizes holding onto your NEXO and helps scale our native token’s economy.
How to Earn in NEXO: To start earning that extra 2% simply select “Interest Payout in NEXO Tokens” from the Settings menu on the Nexo Wallet App or the Nexo platform.
Note: Please be aware that due to regulatory restrictions Earn in NEXO is currently not available to US clients.
Nexonomics: The Broader Context
Expanding our tokenomics has been a top priority for the Nexo community over the last months. True to our client-centric policy, our priorities reflect yours. With Nexonomics we are pioneering the advanced token utilities needed to unlock the NEXO’s full tokenomics potential and value, while simultaneously improving the Earn on Crypto & Fiat suite.
Nexo Co-founder and Managing Partner Antoni Trenchev shared his take on Nexonomics and its place in today’s context: “With volatility rife around the second COVID wave and exacerbated by the US elections, we want to give our clients the financial stability and opportunities to guarantee their peace of mind – now and for the future. Few financial service providers can offer this. That Nexo can raise interest rates and scale up the NEXO’s tokenomics in times like these confirms how vital it is to maintain a sustainable business model and the importance of a market-neutral strategy.”
The full scope of Nexonomics, including a variety of upcoming upgrades and functionalities, will be revealed progressively through December 2020.
We trust these first two upgrades in our Nexonomics have you excited. You can follow and share the #Nexonomics and #tokenUp hashtags on Twitter, Facebook, LinkedIn and Reddit to stay up to date on our upcoming releases, or simply visit our Nexonomics page.