Whitelist NEXO - 250K Co-Invest
This proposal is expected to appear on Snapshot for voting on Monday 28, June 2021 at 12:00 pm UTC.
TLDR;
- Whitelist NEXO.
- 250K BNT Co-Investment.
- Good Volume to Liquidity Ratios on DEXs.
- There are no major Security Concerns.
Website : Nexo.io
Contract Address : 0xb62132e35a6c13ee1ee0f84dc5d40bad8d815206
Token Security
The NEXO Token does not have a rebase mechanism nor is it an elastic supply token. There is a Max Supply of 1 Billion Tokens with 560 Million currently in circulation. It’s supply is pretty well spread out with a presence in multiple centralized and decentralized exchanges.
Project
The NEXO Token is a Utility Token that allows for Borrowing, Staking, Governance, and Boosting APRs on Stable and Crypto Pairs with more features to launch in the future. The Platforms Primary market is lending however, in which it’s a leader in the centralized space.
“Nexo delivers the World’s First Instant Crypto-backed Loans, thus resolving a crucial inefficiency for the crypto world. Up to this very moment, no alternatives existed for digital asset owners to enjoy their crypto wealth except selling them. The innovative model of Nexo brings to the crypto community the best of both worlds - retaining 100% ownership of their digital assets while having immediate access to cash. The Instant Cryptobacked Loans are an automatic, flexible and cost-efficient way of obtaining liquidity that is secured by the value of the client’s digital assets. The whole process is completed in just a few simple clicks. No hidden fees, no capital gains taxes, no credit checks. Transparency is guaranteed through the use of blockchain technology, smart contracts and algorithmic processes executed by the Nexo blockchain oracle.”
Co-Investment Reasoning
NEXO is a top 100 Token and garners consistent volume with relatively low levels of liquidity on DEXs. A 250K Co-Investment will allow Bancor to become the #1 Pool and earn high yields. In the 24HR rate in the picture below it would appear that the Liquidity to Volume Ratio is 2:1 but looking at past data it’s usually more of a 1:1 with some outliers that are remarkably higher than that even.
NEXO Price and Market Stats
| NEXO Price | $1.58 |
|---|---|
| NEXO ROI | 1467.2% |
| Market Cap | $878,202,041 |
| Market Cap Dominance | 0.06% |
| Trading Volume | $5,732,022 |
| Volume / Market Cap | 0.0065 |
| 24h Low / 24h High | $1.41 / $1.59 |
| 7d Low / 7d High | $1.32 / $1.87 |
| Market Cap Rank | #81 |
Community and Communication
Reddit - Twitter - Facebook - Telegram - Github
Available Audits
Indépendant Audit by Callisto : Nexo Token (NEXO) Security Audit Report | Callisto Network
The only particular risk seems to be the Owner Privilidges one but the NEXO Team is fully doxxed and heavily compliant with regulations and regular financial audits : Licenses & Registrations • Nexo