Consistent with Nexo’s ongoing effort to better our services, from the 10th of February, we are implementing a new and improved policy for the 50% Interest Discount on our Instant Crypto Credit Lines. NEXO holders are set to profit from this upgrade and the NEXO Token will experience a notable boost in its utility features.
What Is Changing?
- In order to receive the full 50% Credit Line Interest Discount, clients must stake enough NEXO Tokens in their Nexo Wallet to cover the interest for the entire period from the moment of withdrawing funds from the credit line up to their desired moment of repayment.
- Clients who have staked NEXO Tokens in their Nexo Wallet for only part of the duration of their loan will receive a Credit Line Interest Discount proportional to the number of days out of the entire period, for which they had a sufficient amount of NEXO Tokens staked in their wallet to cover the interest.
- With these improvements to our policy clients looking to take advantage of the Credit Line Interest Discount will now be able to make repayments using all assets available on the Nexo Platform including USD, EUR, GBP, AUD, as well as Bitcoin, Ether, NEXO, Litecoin, XRP, Stellar, Bitcoin Cash, EOS, all major stablecoins, and more assets coming soon.
These changes will be live and effective as of the 10th of February, giving our clients ample time to make arrangements and adjustments, so as to meet their personal needs and financial goals.
All interest accumulated on our platform is calculated by the state-of-the-art and fully-automated Nexo Oracle. The Oracle determines the interest and respective discount for every client’s wallet daily with no effort required of our clients.
What Does This Mean for NEXO Token Holders?
The new modification to our discount policy is designed entirely for the benefit of the NEXO Token Holders and clients, as it:
- Allows NEXO Token investors to receive the full 50% Credit Line Interest Discount by staking their NEXO in a more cost-efficient manner
- Rewards long-term investor confidence by incentivizing users to stake their NEXO Tokens over longer periods, thus reducing supply on the market
- Enables NEXO holders to receive higher dividends based on Nexo’s loyalty dividend distribution system
- Ensures fairness of discount distribution by providing greater discounts to loyal clients who consistently safe-keep their tokens in the Nexo Wallet
- Balances market volatility and results in a higher, more stable demand for NEXO Tokens
What Further Improvements Are Still to Come?
Тhe Nexo team is presently hard at work on the NEXO Token Utilities 2.0 Overhaul which will soon bring, in addition to the dividends and credit line discounts, a plethora of new utility features, including, but not limited to:
- Better interest rates on both our ‘Instant Crypto Credit Lines’ and ’Earn Interest’ products
- Premium features and functionalities
- Higher Nexo Card rewards
- Exclusive Nexo Card designs
- Higher Affiliate commissions
- Invite-only access to products announcements and events
Nexo has distributed more in dividends through the NEXO Tokens than any other company in the blockchain ecosystem and our dividend yield reached an impressive 12.73% — a figure, surpassing each of the highest dividend-paying stocks in the S&P 500.
Nexo’s profound goal is to make our clients an active part of our prospering financial wealth via the promising NEXO Token and we are confident these novel changes will be rewarding for everybody.