Nexo Announces First 30% Profit-Share Dividend Date
As a profitable enterprise from the very beginning, Nexo is paying out the first ever Dividend on a token on December 15! In an industry first we will share 30% of current profits with the holders of our asset-backed NEXO token! Eligibility requirements: https://t.co/cxTPkM4Djl pic.twitter.com/KD4kPXseG7
— Nexo (@NexoFinance) October 5, 2018
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.
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.
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.