{"id":78357,"date":"2024-05-08T17:53:58","date_gmt":"2024-05-08T21:53:58","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=78357"},"modified":"2024-05-08T17:54:01","modified_gmt":"2024-05-08T21:54:01","slug":"lending-protocol-nexo-allocates-12m-for-ecosystem-incentives","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/lending-protocol-nexo-allocates-12m-for-ecosystem-incentives\/","title":{"rendered":"Lending Protocol Nexo Allocates $12M for Ecosystem Incentives"},"content":{"rendered":"\n

Nexo, a cryptocurrency lending protocol<\/a>, distributes 10 million NEXO tokens to its users, valued at $12.5 million, to encourage trade, earning, deposit, and borrowing on the platform.<\/p>\n\n\n\n

\"Lending
Lending Protocol Nexo Allocates $12M for Ecosystem Incentives<\/figcaption><\/figure>\n\n\n\n

Nexo developers wrote on May 8 regarding the sixth anniversary of the protocol, “Stack points, multiply your gains, and unlock more surprises.” “The Nexonomics-inspired hunt is designed to reward new and existing users for exploring the Nexo ecosystem.”<\/p>\n\n\n\n

Users of Nexo may earn the following rewards: 10 points per activation of a Nexo Card, 0.04 points per $1 in fiat borrowed via the Nexo protocol\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>, 0.03 points per $1 invested in Nexo Earn products, and 0.05 points per $1 of enhanced trading on Nexo Exchange, all until July 7. The ratio of points to NEXO tokens will be ascertained after the occasion.\u00a0\u00a0<\/p>\n\n\n\n

“Also, developers cautioned that certain actions may diminish your points balance: For example, for every $1 withdrawn from your Nexo account, you will forfeit 0.01 points in crypto assets.” Each $1 withdrawal will incur a deduction of 0.001 points. <\/p>\n\n\n\n

In addition to loyalty rewards of up to 100% of the points value, users may be eligible to receive multipliers ranging from 1.2x to 1.5x on points earned, contingent upon their activity. The Nexo personnel provided the following illustration:  <\/p>\n\n\n\n

\n

“Suppose you haven't funded your account yet and want to buy $2,000 worth of BTC during the first week of the hunt. In this case, you will receive 450 points (2,000 purchase value x 0.03 points for each $1 purchased x 1.5 Weekly Multiplier x 5 New User Multiplier).”<\/p>\n<\/blockquote>\n\n\n\n

Because of regulatory constraints, citizens and residents of the United States, the United Kingdom, and Canada are ineligible to participate in the campaign.  <\/p>\n\n\n\n

In total value locked (TVL), the well-known decentralized finance lending platform has amassed $537.56 million since its inception six years ago. The UAE regulator<\/a> authorized the platform's local entity, Nexo Services FZE, to lend and borrow virtual assets on March 6.\u00a0\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"

Nexo, a cryptocurrency lending protocol, distributes 10 million NEXO tokens to its users, valued at $12.5 million, to encourage trade, earning, deposit, and borrowing on the platform. Nexo developers wrote on May 8 regarding the sixth anniversary of the protocol, “Stack points, multiply your gains, and unlock more surprises.” “The Nexonomics-inspired hunt is designed to […]<\/p>\n","protected":false},"author":12,"featured_media":69699,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[14322,8827,19481],"class_list":["post-78357","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-lending-protocol","tag-nexo-2","tag-nexo-tokens"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2024\/01\/image-114.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/78357","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=78357"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/78357\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/69699"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=78357"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=78357"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=78357"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}