New Utility for NEXO Token! IT’S A BIG DEAL!
NEXO Token Holders Receive Generous Dividends
The company will pay dividends in excess of $ 6.1 million
Profit figures show the firm’s resilience in tough market conditions
Nexo paid over $ 2.4 million in dividends last year
On August 15, cryptocurrency lender Nexo will pay out 30% of its annual profits to users staking its tokens.
Nexo, a regulated digital asset lending company, will pay over $ 6.1 million in dividends to NEXO token holders.
The repayment is scheduled for August 15, the lender says in a press release..
The amount of dividends is 154.32% higher than it was paid in 2019, the company noted and stressed that the current period is characterized by increased volatility in the markets and the uncertainty associated with the COVID-19 pandemic..
Nexo is a centralized company that pays interest to those wishing to lend their cryptocurrency assets as opposed to decentralized finance applications (DeFi) Decentralized finance (DeFi) is financial services built on blockchain technology that offer users access to an open, efficient and…
More) that do without a third party, but with higher risks. Staking participants and token holders receive 30% of its net profit from Nexo.
Our profit figures this year clearly show the company’s development and resilience in some of the toughest market conditions since the 2007 economic crisis..
On August 15 last year, the company paid out dividends in excess of $ 2.4 million, which were proportionally distributed among the holders of NEXO tokens.
Then, for the first two quarters, the lender’s net profit was $ 8 million.
The company believes that digital finance products will close the gap between digital and mainstream finance for the foreseeable future. However, if attacks in the DeFi segment do not stop, this future may not be so near..
One of the most recent examples – literally today it became known about the hacking of the Ethereum DeFi protocol Opyn and the theft of at least $ 371,000 user money as a result of a double-spending attack.
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