AMA held on Binance_DEX telegram, 2019–11–28, 3PM UTC

Segment 1 — Questions asked by Moderator (Richie)

Before we kick in with the show, we will all love if you guys can introduce yourself and tell us a bit about NEXO as well

I guess we already did that to some extent 🙂

So, my name is Mariusz and I am the Clients Service Director

My colleague who joined me in the amazing (hopefully ama) is Nick

He is responsible for our VIP clients

Nexo as you most probably know is the most advanced and number one Crypto Lending company

We also have amazing Earn product allowing our clients to earn 8% on their savings

And if you have Nexo tokens you get dividends — 30% of the profit is shared among our clients — NEXO Token holders!

Do not forget about the Nexo card which will be released soon and we will talk about it in a few

Any ETA known for when the card will be available?

Unfortunately, at the moment no. We are in a final stages of implementation and most probably the Nexo card will be released early next year

Segment 1, Question No1:

What is Nexo and what problem does it solve?

Nexo.io is the most advanced platform for instant crypto credit lines and earning interest on cash and Stablecoins. Soon, other crypto assets will be added :wink:

With our instant crypto credit lines, Nexo gives digital asset holders the best of both worlds — instant access to cash and retaining ownership of their assets (including BNB).

We are the only blockchain company to provide lending services in 45+ fiat currencies and in more than 200 jurisdictions. — nice a?

With our Earn Interest product, clients can generate up to 8% annual interest on stablecoins, EUR, USD, GBP and soon also for the tokenized Gold product, PAXG.

Nexo allows clients to add or withdraw funds to their interest-earning accounts at any time without losing the accumulated interest. — amaizing feature

And one of the very important things :wink:

On top of that, all transactions to and from the Nexo Account are #ZeroFees.

Segment 1, Question No2:

How does a Nexo’s Credit Line work?

You could just transfer your crypto assets to your Nexo account and get an instant crypto credit line

which you can immediately access by withdrawing in 45+ currencies to your personal/business bank account, or USDT to your Tether address.

We support multiple crypto assets as collateral options including BNB.

In order to obtain a loan, follow these steps:

1. Sign up for your Nexo account at https://platform.nexo.io/;

2. Deposit your crypto assets (BNB, BTC, and others).

3. Undergo the Basic/Advanced Verification in the My Profile section;

4. Go to “Withdraw Loan” where you will see the available loan amount;

5. Choose the preferred withdrawal method and enter your bank account/Tether address;

6. Enjoy spending your Nexo Loan.

🙂

You can also watch this ~4 minutes long video on how to use the Nexo platform:

https://www.youtube.com/watch?time_continue=2&v=ll3ZZj6IaF4

We have clients who used loans from us to buy houses and so on :wink: so go ahead!

Segment 1, Question No3:

What is the Nexo token and what are the benefits of owning Nexo tokens?

NEXO Tokens are the world’s first SEC-compliant dividend-paying asset-backed security tokens with utility features.

NEXO Tokens are backed by the loan assets portfolio of the Nexo company. — so no worrries

Let me know jump into The NEXO Token utility features

All od them are excellent as you can imagine 🙂

Repayments using NEXO Tokens give you a 50% discount on the interest that is charged. — simply perfect

Using NEXO as collateral for your loan brings you many benefits like a 50% discount on the interest that is charged. — similar to the above, but you get dividends :wink: so even better

Here have to come small disclaimer: as the same discount applies when repaying your loan with NEXO Token that is why discounts cannot be combined, but the discount for using NEXO Tokens for repayments will always apply on the portion of your loan that is not using NEXO Tokens as collateral.

You cannot get twice 50% discount — but you can use both option to get the full 50% :wink:

The deposited NEXO Tokens you use as collateral are also eligible for the Nexo dividend payouts as long as two conditions are met:

1. NEXO Tokens must be held/staked in your Nexo Wallet at the ex-dividend date, which is 10 days prior to the dividend distribution date;

And

2. NEXO Token holders must undergo a one-time verification just as they would do at any other compliant financial institution. Nexo’s Know-Your-Customer (KYC) process is very simple, fully automated and usually takes less than 2 minutes.

Please note that we are currently working on introducing the Nexo token Utilities 2.0 where we will add many more perks.

Before the NEXO Token price skyrockets :rocket:

So, go to Binance DEX and buy buy buy… and Buy…

Segment 1, Question No4:

Do you offer any kind of protection for the crypto assets deposited with you? What kind of security features does your platform offer?

The safety of clients funds is the first priority for Nexo. Cold storage Nexo Wallets are provided by the leader in multi-signature encryption technology BitGo.

These custodial assets are covered for up to $100,000,000.00 by the London-based insurance company Lloyd’s

with its syndicate of underwriters which act under its umbrella

And this premium service comes in at no additional cost. :muscle:

Clients remain owners of the crypto assets placed into Nexo account. Nexo partners with the largest and world-renowned custodian BitGo to secure all crypto assets

This is the Enterprise Solution of world-renowned crypto custodian BitGo, backed by Goldman Sachs and incorporates Cryptocurrency Security Standard Level 3 which is SOC 2 compliant

The CCSS Level 3 requires multiple actors for the all-critical actions.

Advanced authentication mechanisms are employed to ensure the authenticity of data, and assets are distributed geographically and organisationally.

We have adopted the best industry practices which make up the security protocols of other market leaders using BitGo such as Pantera Capital, CME Group, Kraken, Genesis, SBI, Ripple and many more

With other words — the security is at millitary level

Get cash to spend without selling any of your crypto — it is very easy with NEXO

Segment 1, Question No5:

You are promoting a new feature to be added next to the rest of your services — Nexo card. What is the Nexo Card?

Indeed, true to our innovative approach to FinTech, at Nexo, we are pioneering the world’s first card that allows holders to spend the value of their assets without selling them.

first card that allows holders to spend the value of their assets without selling them. — that is extremely important :wink:

This would let you hold 100% of your BNB, BTC, and other assets as they grow in value and at the same time you use that spending power to buy anything you need worldwide.

The Nexo Card will be available to our clients for simplicity and ease of use of the borrowed funds. — no need to withdraw first to a bank account

You can buy anything you like with the funds in your card, just as you can with any other international card but at better terms. — just like your bank card

Just to emphasise — The card will be linked directly to your credit limit and allow you to spend your funds on purchases without the need to withdraw funds to a bank account.

The Nexo Card can be ordered and managed from the comfort of your Nexo Mobile App, giving you instant worldwide access to Nexo’s services. — so if you have not downloaded our app yet — do it now

And the less positive fact — The Nexo card will be distributed soon and first to our clients living in the European Union and the European Economic Area.

More information about our Nexo card will be published soon. So, please join our TG group or Twitter, etc.

All announcement are being posted there as well as on our Medium channel

Segment 2 — Quiz Questions asked by NEXO team to Binancians

Segment 2, Question No1:

What is the lowest Nexo Prime Rate on its crypto credit lines?

5.9%

Segment 2, Question No2:

What is the rate of Nexo’s Earn Interest product?

8%

Segment 2, Question No3:

How much total dividends in USD were paid to NEXO token holders in the two dividend distributions so far?

3,321,645.87 USD

Segment 2, Question No4:

When was the NEXO Token listed on the Binance DEX?

OCT 18 2019

Segment 2, Question No5:

What kind of rewards were given to the winners from the “NEXO/BNB Trading Competition on Binance DEX”?

$NEXО, $BNB, T-shirts, Hoodies

Segment 3 — Questions asked by Community to NEXO Team

What are the benefits of holding NEXO Tokens for short and long term?

1. Nexo pays dividends on all Nexo token holders — 30% from the net profit 2. By utilizing NEXO for interst loan repayments or as collateral you benefit from reduced interest rates

What business opportunities does NEXO offer investors who are tired of traditional banks?

he service Nexo provides is targeted at people who own crypto assets or want to use our “Earn” product to yield high interest on their fiat savings or stablecoins.

Most crypto cards offer a variety of payments. what are the advantages of nexo cards compared to other crypto cards?

When released the Nexo card will be unprecedented. Unlike the cards issued by our competitors, our card will allow you to spend the value of your crypto assets without selling them. What the other companies do is basically sell your crypto assets and then send the fiat value to a card which is, in reality, a debit card. Our main concept, by contrast, is to allow our customers to keep their assets while benefiting from their value.

All this inevitably makes our project far more complex as there are many intricate processes that need to be designed and implemented to ensure that our credit card will work flawlessly in each country where it is available. Although, this is a massive and time-consuming enterprise we are confident that the Nexo card will be available fairly soon.

Can I pay monthly dividends?

We will assess which distribution intervals are achievable form an accounting and operational standpoint. Corporations around the world customarily handle dividend distributions on an annual basis. In the best interest of our investors, Nexo is committed to introducing more frequent dividend payments where operating results and industry standards permit.

What are Nexo’s impeccable and innovative marketing strategies? What is the Nexo Base Dividend and the Nexo Loyalty Dividend?

1. Base Dividend — paid out to all eligible token holders proportionally to their NEXO Token holdings.

2. Loyalty Dividend — paid out individually for each NEXO Token based on how long it has been in the Nexo Wallet from one ex-dividend date to the next. The share of the Loyalty Dividend will be no less than 1/3 of the total dividend amount to be distributed in any given period.

Recently Kava, one project of Binance Launchpad is known as a blockchain platform running the same business as NEXO, so what are…

We do not comment on the competition, but instead keep focusing on our product

Is there any insurance done by NEXO TEAM ? If yes then what is the criteria and recovery amount given by insurance company?

The safety of clients’ funds is one of Nexo’s highest priorities. Cold storage Nexo Wallets are provided by the leader in multi-signature encryption technology: BitGo. These custodial assets are covered for up to $100,000,000.00 by the London-based insurance company Lloyd’s with its syndicate of underwriters. And this premium service comes at no additional cost.

What is the limit on using NEXO cards?

More detailed info will be available soon. Stay tuned!

How do you calculate the value of crypto assets under your custody ? What value i will pay during loan settlement ?

Your available loan limit depends on the type and the amount of deposited collateral, as well as on the LTV.

A Loan-to-Value (LTV) ratio is an indicator representing the size of a loan compared to the value of the assets securing the loan. The Loan-to-Value percentages of each asset are dynamically determined by the Nexo Oracle algorithms, depending on the current and historical volatility and market liquidity of the asset. You can assume it is ~50% for BTC and ETH, ~40% for XRP, ~90% for all stablecoins, ~15% for NEXO, ~30% for LTC, BNB and BCH and ~17% for XLM (Stellar).

Therefore, for example, if you deposit 1000 USD worth of BTC, you will be able to take a loan of 500 USD.

Some people are concerned that cryoto assets may fluctuate in price so quickly that NEXO could not liquidate the loaned assets o

There were a lot of crypto market distruptions in the past few years and our Nexo Oracle accted as intended and in accordance with the market confditions

Your metamorphosis is a laudable one, how have you been able to survive this longest bear market and continue building and developing…

In this competitive market, it is our biggest mission to provide our customers with the best service as well as the best support. We have managed to ensure the quality of each and we strive every day to maintain it to its highest degree to ensure the loyalty of our much appreciated customers.

Do you think users are important elements of your platform? Does NEXO have any plans to attract more users in the future?

We are always working on attracting more users/ clients. Another thing is that we are always listening to our clients’ feedback and delivering what they want

Are there any plans to offer earning interest on BNB now that Nexo is working more and more with Binance?

We are already working on offereing interest on crypto deposits other than stablecoins. Stay tuned!

Nexo Token is used in Nexo’s ecosystem to pay down debt and reduce interest rates. So if customers want to borrow Nexo token

The interest discount is applied to all loans that are partially or fully backed with NEXO, as well as when the accumulated interest is repaid with the Nexo tokens. When using it as collateral, our Nexo Oracle automatically calculates the part of your loan backed with NEXO and adjusts the discount accordingly.

What killer features NEXO has that are ahead of the competition and how does intend to open up the technology to the community

Fully automated platform, seamless user experience, 10+ years of experience in lending, 24/7 proffesional support and many more

“STAKING” is prevalent in crypto. Do you have a plan about that?🤔 ~Thanks for Answering:blush:

We are considering such a feature, maybe in the future… 🙂

1) May I know the revenue model of NEXO. How Nexo generate revenue ?

We are profiting from the loan interest that we receive. Our business model cannot be impacted by the market volatility. In other words — people withdraw loans when BTC is up 40% and when BTC is down 40%

How can Nexo achieve the lowest Borrowing Interest Rates in blockchain space?

We achieved this new long-term funding through our ongoing effort to bring down costs by utilizing our extensive network of financial partners and by obtaining access to institutional liquidity.

What are the main features that stand out Nexo’s Instant Crypto-backed Loans compare with Traditional Loan-Lending services?

Instant approval, no credit checks, seamless user experience, Customer Support that is actually helping you 🙂

What are the major milestones you have achieved so far?

Adding almost all top 10 crypto assets as collateral, two dividend payments, Earn interest feature, lowering the minimum loan amount to 500 USD just to name a few

How do you see the project develop in 3–5 years from now, both business wise & company wise?

Our plan is to become the ultimate crypto/fiat bank. We are already working on this marvelous goal

Is your platform only helpful for Crypto friendly users or non-Crypto friendly users can also use?

We have created videos on Youtube, explaining how to take a loan or how to swap NEXO from ERC-20 to BEP2 for example. Also we have a very details Help Center and of course excellent 24/7 Customer Support

What is the $NEXO marketing strategy on a loan basis? How many assets can you use to Collateralize a loan?

You can use BTC, ETH, XRP, BNB, NEXO, LTC, XLM as a collateral for obtaing a loan from us

What is your biggest plan in the future?

Our biggest goal for the future is the creation of the Nexo bank.

What did you select BitGo and what feedback have you received from your clients?

BitGo is the most trusted crypto custodian in the world. The choice was pretty easy. Our clients feel safe that their assets are stored with them

Does Nexo have a plan to add more crypto option as collateral for instant crypto-backed loans in the future?

Of course, all the time. You can vote for your favorite one to be added next here: https://nexo.io/vote

How will you ensure to make NEXO become mass adoption and be more attractive for clients?

By offereing the best product ever

I see nexo features nexo cards … what’s the function of nexo cards? can i buy coffee with nexo card?

yes, you can. Basically you can use the Nexo card as any other credit card. just you will have a moving limit = depending of the market value of your crypto

Why did Nexo decide to build a lending platform with Crypto when the value of Crypto is always changing?

“We decided to go to the moon not beacuse it is easy, but beacuse it is hard”

Can you tell me when looking back at your time working for NEXO,What are you most proud of?

We certainly have achieved a lot since the start of our project, but the thing we pride ourselves most on has to be our quality customer support.

Currently the Volume is pretty low, what is your plan to enhance the overall volume so users have better volume and better bonus

NEXO/BNB pair is almost always top 1 by volume on Binance DEX

Most of investor just focus on the price of token in short term instead of real value of project. Can you tell us the motivation

only one word — Dividends

Nexo is Powered by Credissimo. What happens if Credissimo backs out and you are left alone?

Please note that outhough Nexo and Credissimo share same founders, those are two separate entities.

Zero fees e-payment platform” so what is benefit from it? And how to earn money if your fees is zero?

We have achieved a level of profitability where we can afford to cover all transaction fees for our customers, and we believe this to be a small but nice gesture to show grattitude to all of our customers.

What NEXO plans are in place for global expansion, are you focusing on only one market at this time? Or focus on building and development

Nexo is the most advanced platform for instant crypto loans, and the only blockchain company which lets people borrow against their crypto assets in 25+ fiat currencies across 200 jurisdictions worldwide, thus allowing Nexo clients to spend the value of their assets without selling them.

Does Nexo have a plan for supply and demand for Nexo ? Do you plan to burn Nexo ?

Nexo tokens will not be burned. We are constantly expanding our customer base, which will drive the deamnd of our token — it has utillity features as well

Who can use NEXO ? Is it for only private companies or will it be available for public and government organizations as well?

Everyone can use Nexo

How about tax of Nexo in every regional with international tax ?

We do not offer a tax advise nor we report anything to the authorities. You need to consult with your tax person regarding such an inquiries

If I move some of my nexo tokens will I lose all accrued loyalty dividends or do I keep the loyalty divs for the coins I keep?

The dividends will be received based on the amount of Nexo tokens stored in your Nexo wallet/account by the ex-dividend date. Once it has passed, withdrawing your tokens will not affect the receipt of the dividend amount.

What is nexo 2.0?

NEXO Token Utilities 2.0 will bring a plethora of new amazing utility features, including, but not limited to:

Even better interest rates on all Nexo products

Premium features and functionalities

Higher Nexo Card Cashback

Exclusive Nexo Card designs

Affiliate commissions

Invite-only access to products and events

Exchange negotiations are happening right now? Will we see a listing soon?

Unfortunately, we cannot comment on exchange listings due to NDAs. We can only say that we are working on it

Do you have plans to expand your ecosystem similar to the way Binance is expanding non-stop?

We are always striving to better and expand ourselves and our project. We have some incredible plans for the future of Nexo and we are excited to share them with you further down the line.

What are the advantages of using Nexo Card?

Our main concept with the Nexo card is to allow our customers to keep their crypto assets while benefiting from their value.

Maker DAO has the biggest amount of locked crypto value: $310,6 M, which is worth more than half of the entire decentralized finance…

We have processed more than 1 billion USD in loans so far and have a user base of 350 000+

NEXO project important links

Medium — https://medium.com/nexo

Telegram — https://t.me/nexofinance

Twitter — https://twitter.com/nexofinance

Facebook — https://www.facebook.com/NexoFinance/

You can also sign up for newsletter at https://nexo.io/#footer-scroll

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