### What is NEXO?

NEXO is the native token of the Nexo platform, a comprehensive digital assets wealth platform founded in 2017. It offers services such as instant cryptocurrency-backed loans, high-yield savings, and advanced trading tools. NEXO serves multiple purposes within the ecosystem, including utility, staking, loyalty program benefits, governance, and participation in dividend payments .

### How does NEXO work?

NEXO operates on the Ethereum blockchain and adheres to the ERC-20 standard. The platform leverages Ethereum's smart contracts to automate and secure its core processes, such as lending, borrowing, and interest payments. Nexo's infrastructure supports a proof of stake consensus mechanism utilized by Ethereum, enabling secure and efficient transactions within its ecosystem .

### What are the potential use cases for NEXO?

NEXO tokens are integral to various functions and services on the Nexo platform. They can be used as collateral for loans, for governance voting on platform proposals, and to earn daily interest through the Nexo Loyalty Program. Additionally, NEXO tokens are utilised for discounted borrowing rates and higher yields on deposits. The Nexo Card allows token holders to make payments at millions of merchants globally, further extending its real-world applicability .

### What is the history of NEXO?

NEXO was founded by Antoni Trenchev, Georgi Shulev, and Kalin Metodiev in 2017. The platform initially distributed NEXO tokens through an airdrop and a subsequent ICO, raising significant capital. Over the years, Nexo has issued billions in credit lines and established itself as a prominent player in the crypto lending space despite facing regulatory challenges. The platform continues to evolve, offering a suite of financial services and maintaining partnerships, such as with MasterCard, to enhance its offerings .

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