Nexo Announces 6.5% Interest for Holding Major Stablecoins
Earn 6.5% interest on your stablecoins!
Nexo is introducing the only protection for stablecoins on the market by guaranteeing a 1-to-1 conversion to U.S. Dollars on any stablecoin for all Nexo Liquidity Providers @Tether_to @GeminiTrust @TrustToken @MakerDAO @PaxosStandard pic.twitter.com/7VWQYLngPr
— Nexo (@NexoFinance) October 29, 2018
According to the brief announcement, TrueUSD (TUSD), Circle’s USDCoin (USDC), Gemini Dollar (GUSD), Paxos Standard Token (PAX) and Maker’s Dai (DAI) will qualify for 6.5% when stored on the Nexo platform.
Nexo also accepts BTC, ETH, NEXO and BNB as collateral for instant loans up to 25% of their holdings. The current APR is 16% for crypto-backed loans, but that rate is cut in half for users that put up NEXO as collateral.
The project, which currently holds a $101.5 million market cap, is also gearing up for its first dividend payment on December 15, where it will distribute 30% of the platform’s profits to NEXO holders.
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.