The First Project Report: How does NEXO disrupt the traditional financial system?
What is NEXO?
The NEXO project is a core component of the Nexo cryptocurrency financial ecosystem, aiming to provide one-stop and comprehensive Financial Services solutions for global cryptocurrency users. Since its establishment in 2018, the Nexo platform has quickly become a leader in the cryptocurrency field with its innovative products and services, committed to becoming a bridge connecting traditional finance and the cryptocurrency world.
So far, digital asset owners have no alternative to enjoying their crypto wealth other than selling their crypto assets. Nexo's innovative model brings the best of both worlds to the crypto community - retaining 100% ownership of digital assets while receiving immediate cash. Instant crypto-backed loans are an automatic, flexible, and cost-effective way to obtain liquidity, guaranteed by the value of the customer's digital assets. The entire process can be completed with just a few clicks. There are no hidden fees, no capital gains taxes, and no credit checks. Transparency is ensured by using blockchain technology, smart contracts, and algorithmic processes executed by Nexo Oracle.NEXO project advantages
Nexo's business model is deeply rooted in cutting-edge technology and process automation, which is not only the cornerstone of its competitive advantage, but also a key force driving the expansion of the boundaries of cryptocurrency Financial Services. With Credissimo's over 10 years of deep experience in the online lending field, Nexo is in a unique position to develop and optimize top-level cryptocurrency loan solutions protected by cryptoassets.
Nexo Oracle: The Core of Automation and Intelligence
Nexo Oracle is a shining pearl in the Nexo ecosystem. It is a highly automated system responsible for maintaining and optimizing every key aspect of business processes. From seamless integration of Nexo cards and user wallet assets to real-time Credit Line confirmation and transaction approval during the purchase process, Nexo Oracle works silently behind the scenes to ensure that every transaction is fast, accurate, and secure.
Automated management of loan contracts
When setting up encrypted loans, Nexo Oracle demonstrates its unparalleled automation capabilities. It is not only responsible for automatic cash payments and asset maintenance, but also maintains close communication with users through an intelligent notification system. This comprehensive automation management not only reduces the burden of manual operations, but also greatly improves the speed and efficiency of loan processing.
Real-time Data Transmission Service with threat and risk assessment
To ensure the safety and sustainability of loans, Nexo Oracle uses real-time Data Transmission Service technology to obtain real-time data from at least six independent exchanges and conduct comprehensive analysis and evaluation. This diversified data source strategy not only reduces the risk of a single source of information, but also provides Nexo and users with more comprehensive and accurate market insights. At the same time, Nexo Oracle can monitor changes in asset values in real-time and automatically adjust loan limits accordingly to ensure that loans are always within a controllable range.
Payment analysis and automated notifications
In terms of loan management, Nexo Oracle also performs well. It automatically records and tracks customers' repayment status, including key information such as interest repayments, outstanding balances, and the latest loan limits. In addition, Nexo Oracle also has powerful automated notification functions, which can send detailed notifications and reminders to users in a timely manner at key nodes such as asset value changes, loan limit adjustments, and cash inflows/outflows. This instant and transparent communication method not only enhances the User Experience, but also enhances users' trust in the Nexo platform.
Modeling and algorithm development: the cornerstone of intelligent decision-making
In order to ensure the continuous and stable operation and efficient decision-making ability of the Nexo Oracle system, the Nexo team has integrated advanced technologies such as Big Data Analysis, self-regulating algorithms, and predictive modeling into the system. These technologies enable Nexo Oracle to extract valuable information from multiple external data sources and make timely and accurate business decisions based on this information. This intelligent decision-making process not only improves the efficiency and accuracy of loan approval, but also provides users with a more personalized and customized Financial Services experience.
- NEXO team and financing information
Nexo is supported by Credissimo, a leading fintech group that has served millions of people in Europe for over a decade. Credissimo has always operated under the highest regulatory requirements and strictest supervision of multiple European banking and Financial Services regulatory agencies. Nexo is also one of the 50 most important companies in the Crypto Valley blockchain cluster in Switzerland and Liechtenstein, and has collaborated with industry leaders such as BitGo, Coinbase, PrimeTrust, TrueUSD, Onfido, and Coinfirm.
The Nexo team currently has 15 members with backgrounds in blockchain development, Corporate Finance, legal compliance, marketing, and business development. The three managing partners of Nexo are Kosta Kantchev, Georgi Shulev, and Antoni Trenchev. Kantchev is one of the original co-founders of Credissimo and has helped Credissimo achieve great success over the past decade. Shulev has a deep background in the financial field and has worked with UniCredit Italy, Lehman Brothers, and the European Investment Bank before joining Credissimo in 2015. Trenchev has been advocating decentralization and cryptocurrency since 2011. He became the Chief Innovation Officer and Advisory Board member of Credissimo in 2014.
- NEXO Token Economics
The Nexo platform provides various incentives and benefits for borrowers and lenders through its native token NEXO, which aims to enhance the User Experience and promote the circulation and value of tokens.
- Interest Discount: Borrowers holding NEXO can enjoy a discount on loan interest, reducing loan costs and increasing investment return rate. This is an important strategy for Nexo to attract and retain users.
- Earn interest: Lenders can lend NEXO tokens to earn up to 17% annual interest, enjoy daily payment function to improve fund efficiency, and the funds are protected by large insurance to ensure safety and worry-free.
- Collecting Dividends: NEXO token holders can receive dividends from the profits of the Nexo platform, reflecting the benefit-sharing mechanism between the platform and token holders. As NEXO transitions from dividends to daily interest, token holders also enjoy more practical features such as higher interest rates, lower borrowing costs, and free withdrawals.
- Loyalty Program and Privileges: Nexo implements a tiered loyalty program, dividing users into different levels based on the proportion of NEXO tokens in their investment portfolio, enjoying different interest rate discounts and withdrawal privileges. Platinum-level users enjoy benefits such as high interest rates and free withdrawal of cryptocurrency.
- Liquidity improvement and price stability: Nexo repurchases NEXO tokens through the open market, aiming to improve token liquidity and reduce price fluctuations, maintain token market value, and enhance investor confidence.
The total amount of NEXO tokens is 1,000,000,000 NEXO, and the current market circulation is 560,000,011 NEXO. The token is divided as follows:
Investors: 520,000,000 NEXO (52.5%)
Capital reserve: 250,000,000 NEXO (25%)
Founder team: 112,000,000 NEXO (11.2%)
Airdrop and Community: 60,000,000 NEXO (6%)
Legal and public relations: 52,000,000 NEXO (5.2%)
- How to buy NEXO?
NEXO will soon be launched on The First trading platform, and you can buy NEXO tokens through The First :
Nexo's ecosystem is highly favored for its simple integrated solution. It has launched automatic wealth management products that can easily and intuitively obtain loans supported by cryptocurrency. By holding NEXO tokens, users can further utilize this platform. With the release of Nexo credit cards, more and more users will join the Nexo community. The First provides a broader display range for NEXO, where you can trade NEXO and join the constantly developing NEXO ecosystem.