This didn’t take too long. Less than two weeks after its initial launch, we’re enabling the Nexo Multichain Bridge for transfers of ETH and ERC-20 LINK, AAVE and SUSHI tokens. As straightforward as it gets, our bridge service happens automatically when you top up and withdraw from Ethereum to Polygon and vice-versa.
The Bridge Advantage
Cross-chain transfers can be a bit tricky when handled on your own. Besides doing the necessary bridging for you, the Nexo Multichain Bridge provides great benefits when moving supported assets in and out of your Nexo account. Here are the advantages:
- Zero Bridge Fees: There are no bridge fees when using the Nexo Multichain Bridge. Third-party solutions can be costly and we’re happy to provide you with a zero-fee service.
- Save on Gas Fees: Gas fees for transfers through the Ethereum network add up with time. When topping up Polygon ETH, LINK, AAVE and SUSHI to your Polygon address on Nexo, you pay near-zero gas fees.
- Move Your Crypto Instantly: The Nexo Multichain Bridge happens in the background and is completely automated, meaning you don’t need to go through the hassle of using external bridge services.
- One Less Wallet to Worry About: Managing wallets for every different blockchain can get overwhelming. On Nexo you keep all your assets in a single location, protected by our top-tier security infrastructure.
Why Move Your Assets to Nexo?
Now that we’ve made it faster and more cost-efficient to move tokens to Nexo, let’s see what you can do on the platform.
- Earn up to 17% APR¹: The ETH and LINK you hold in your Nexo account earn you up to 8% APR, paid out daily. Alternatively, you can swap your tokens for higher-yield assets and earn up to 17% APR.
- Borrow from Just 0% APR²: Use your crypto as collateral to borrow cash or stablecoins from just 0% APR. You are approved within seconds and pay no prepayment, origination, or installment fees.
- Get up to 0.5% Cashback: Every time you perform a swap with one of the tokens, you receive instant cashback that is paid out in the received currency. Browse the available pairs on the Nexo Exchange.
- Boost & Get up to 3x More Crypto: The Nexo Booster offers a quick way to purchase with leverage. Buy up to 3 times more of the coins you want, using your newly-acquired assets as collateral for a crypto-backed credit.
¹The Nexo Earn Interest Product is not available for citizens or residents of certain jurisdictions, including where restrictions may apply, such as the USA, Bulgaria, and Estonia.
²Nexo's Instant Crypto Credit Lines are not available for citizens or residents of certain jurisdictions, such as the State of New York, Bulgaria, and Estonia.
Furthermore, all withdrawals on the Polygon network are free and will not count towards your free monthly withdrawals that come with our Loyalty Program. With this update, the list of tokens and stablecoins available for cross-chain transfers via the Nexo Multichain Bridge is as follows:
- Ethereum (ETH)
- Polygon (MATIC)
- Chainlink (LINK)
- Aave (AAVE)
- SushiSwap (SUSHI)
- USD Coin (USDC)
- Tether (USDT)
- Dai (DAI)
It is recommended that you whitelist your Polygon and Ethereum addresses. This prevents you from sending funds to the wrong addresses and fortifies you in case an unauthorized party gains access to your Nexo account.
As much as anyone, we want to see a future where interoperability between blockchains is the norm. This is just the beginning of our implementation of the Nexo Multichain Bridge, as we look to add support for more networks and tokens.