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Nexo Community Accepts Governance Proposal to Give Users Daily Interest on NEXO Tokens

Jun 8·2 min read
Press Releases
Nexo Community Accepts Governance Proposal to Give Users Daily Interest on NEXO Tokens
  • Nexo launched a Governance Vоte functionality, allowing users to participate in strategic business decisions.
  • Nexo’s first Governance proposal – Daily Interest on NEXO Tokens – was accepted and implemented on June 8, 2021.
  • The Daily Interest program gives token holders up to 12% APY, paid out daily.

LONDON – June 8, 2021 – Nexo, the leading regulated institution for digital assets, has passed a governance proposal for users to earn daily interest on NEXO Tokens.
With the new scheme, token holders will receive up to 12% interest per annum, paid out daily. All investors will receive equal base interest rates, regardless of the size of their NEXO Token holdings with bonus rates available for users who choose to benefit from Nexo’s Fixed Term accounts.

“The people have spoken and we are thrilled to give them the daily interest model they’ve been asking for. We strive to empower our users to manage their finances autonomously and cost-efficiently and we’re best able to do that by listening to their needs and suggestions. We’re thrilled to be entering a new chapter of Nexo’s story and will continue using our new Governance Vote feature to include our community in all our key decisions,” said Antoni Trenchev, Co-Founder and Managing Partner of Nexo.

A final Dividend distribution of $20,428,359.89 will be made on June 16 to ensure those who have been holding NEXO for dividends are not adversely affected by the change.
Thе upgrade to the NEXO Token is the result of the company’s first Governance Vote – a hybrid approach to the governance model used in decentralized protocols that can be applied to Nexo’s centralized platform. The new governance capability combines investors’ needs with the Nexo team’s expertise by putting proposals that users want and that Nexo can implement to a vote - ultimately leading to more targeted, functional and desirable products.

From its inception, Nexo has given back 30% of profits via its flagship Dividends program through which it has distributed $9.5M to NEXO Token holders worldwide. Now, the NEXO Governance Vote has been devised as a way to empower the community to participate in company decisions, prompting the transition from Dividends to the new Daily Interest on NEXO Tokens. The Governance Vote and Daily Interest on NEXO Tokens are both part of the Nexonomics initiative – a series of upgrades and features for the NEXO Token designed to drive its tokenomics, reinforce its utility and boost its value in the digital economy.

The new Daily Interest program is the next step in Nexo’s tokenomics overhaul designed to eradicate volatility around dividend dates which was a longstanding concern for the Nexo community. Additionally, yields on the company’s native token will now be more predictable and flexible for investors.

About Nexo

Nexo is the world's leading regulated digital assets institution. The company’s mission is to maximize the value and utility of cryptocurrencies by offering tax-efficient Instant Crypto Credit Lines™, a high-yield Earn on Crypto & Fiat suite, and sophisticated trading and OTC capabilities, while providing the top-tier custodial insurance and military-grade security of the Nexo Wallet. Nexo manages assets for 1.5+ million users across more than 200 jurisdictions.

Media contact for Nexo:

Amina Daniels
amina@yapglobal.com

Nexo PR Team
pr@nexo.io

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