Nexo Announces First 30% Profit-Share Dividend Date

nexo.io
Voyager
Voyager

Nexo¬†(NEXO), a cryptocurrency-backed loan platform, has announced that its long-awaited dividend program will go live on December 15, distributing 30% of the platform’s profits to NEXO holders.

While the revenue data is not publicly available, Nexo claims that it has processed more than $1 billion in loan transactions to date. Thirty percent of the profits from these transactions will be split equally across the fraction of the 560 million NEXO token supply that is staking on Nexo’s platform.

Nexo currently accepts BTC, ETH, NEXO and BNB as collateral for instant loans up to 25% of their holdings. The current APR is 16% for the crypto-backed loans, but that rate is cut in half for users that put up NEXO.

This news comes the same week that Nexo unveiled a new collaboration with leading crypto index website¬†CoinMarketCap¬†to integrate a “Get Loan” button directly on the site.

CoinCodex

The price of NEXO is up over 100% in the last month, leaving the crypto-backed loan platform with a $59.3 million market cap.

More: An Outlook on Nexo Dividends and Beyond

Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.

 
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