What is the issuance price and issuance volume of NEXO coins?

The multi-purpose NEXO token operates on the ERC-20 standard and offers benefits such as interest payments, voting rights, lower loan interest rates, and exclusive access to platform features.

Nov 21, 2024 at 08:00 pm

NEXO: Issuance Price, Issuance Volume, and Tokenomics

Issuance Price and Volume

• The issuance price of NEXO coins was $0.03 during the token sale in 2018.
• A total of 560,000,000 NEXO coins were issued during the token sale, accounting for 50% of the total token supply.
• The total funds raised during the token sale amounted to $16.8 million.

Tokenomics

The NEXO token is based on the ERC-20 standard and operates on the Ethereum blockchain. It has a maximum supply of 1,100,000,000 tokens, which is fixed and cannot be altered.

NEXO tokens serve multiple purposes within the Nexo ecosystem, including:

1. Interest payments: NEXO tokens are used to pay interest on cryptocurrencies and fiat currencies deposited on the Nexo platform.
2. Loan collateral: NEXO tokens can be used as collateral for loans taken out on the Nexo platform.
3. Voting rights: Holders of NEXO tokens have voting rights on governance proposals related to the development of the Nexo platform.
4. Access to exclusive features: Certain features and benefits on the Nexo platform are exclusively available to holders of NEXO tokens.

The distribution of NEXO tokens is as follows:

• Token sale: 50%
• Team and advisors: 20%
• Reserve for future issuance: 30%

The team and advisors' tokens are subject to a vesting period, ensuring a gradual release of tokens into the market and preventing uncontrolled selling pressure.

The reserve for future issuance allows Nexo to issue additional NEXO tokens in the future to fund growth initiatives, such as new product development or platform expansions. However, any future issuance would be subject to community approval through Nexo's governance mechanism.

Token Utility and Benefits

NEXO tokens provide various benefits to holders, including:

1. Increased interest rates: Holding NEXO tokens entitles users to higher interest rates on their crypto and fiat deposits.
2. Lower loan interest rates: NEXO token holders can secure lower interest rates on loans taken out on the Nexo platform.
3. Loyalty rewards: Nexo offers loyalty rewards and benefits to active NEXO token holders.
4. Exclusive access: NEXO token holders gain early access to new features and products on the Nexo platform.
5. Governance participation: NEXO token holders have the right to participate in the governance of the Nexo platform by voting on proposals that affect the ecosystem's development and direction.

Nexo employs a two-tiered dividend distribution system, where a portion of the platform's revenue is distributed to NEXO token holders in the form of dividends. These dividends are paid out in NEXO tokens, further incentivizing token ownership and long-term participation in the ecosystem.