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What is Nexo (NEXO)?

Nexo (NEXO) is a blockchain-based lending platform, and claims to be the first of its kind to offer instant cryptocurrency backed loans. NEXO is the native utility token of the network.
 

• Nexo wishes to provide individuals with an innovative, convenient and sustainable lending market that avoids the inefficiencies of traditional lending services.
• The Nexo lending and borrowing service utilises an oracle on the Ethereum blockchain. This oracle helps to establish the loan and once finalised, funds are instantly allocated. When an individual repays the loan, the oracle returns the cryptocurrency and records the transaction on the blockchain.
• The NEXO token is a fundamental part of their loyalty program. The more NEXO an individual holds in a Nexo portfolio, the more benefits they will receive. Such as higher yields, borrowing discounts and more.

Nexo wishes to make borrowing and lending as straightforward and convenient as possible. As one of the first cryptocurrency lending platforms, Nexo is attempting to resolve the inefficiencies found in traditional lending markets.

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