Nexo announced that it is adding Polkadot to its ecosystem, and will allow DOT to be used for borrowing, staking, and the Nexo Exchange.
As a leading, fully regulated platform for digital assets, Nexo is creating a new market for DOT, and adding liquidity to the Polkadot ecosystem.
Now, Nexo clients will be able to buy DOT directly, and then earn up to 8% per year on their DOT holdings. Additionally, DOT can be used for Nexo’s borrow program, which allows users to leverage their tokens to obtain loans.
The actual interest rate that Nexo users will receive changes based on market conditions. Nexo pays interest on a daily basis, and doesn’t require its users it lock up their holdings for long amounts of time to gain a fair rate of return.
Polkadot is on Nexo
With the addition of DOT, Nexo now includes 19 of the top tokens in its Earn suite. This gives Nexo users a wide variety of asset that can be held as interest-bearing assets.
While creating fair returns in the fiat currency system has been a challenge for many years, there are loads of ways to create passive returns with Nexo and cryptocurrencies.
Co-founder and Managing Partner of Nexo, Antoni Trenchev, commented on the addition of DOT,
“We are delighted to expand our high-yield earn services and offer cost-efficient funding against Polkadot’s native asset, thus further realizing the potential of cryptocurrencies as an asset class. Kudos to the product team for making the first step towards DOT’s full integration and giving our 1.5 million clients access to the DeFi ecosystem in a secure manner with the Nexo wallet.”
Nexo is clearly creating financial tools that allow investors in the crypto space to have a huge amount of flexibility with their assets. Instead of being locked into a HODL strategy, tokens can be used to both create passive returns, and secure loans.
DOT is Hot!
Polkadot is gaining traction with institutional investors, including hedge funds.
While there are numerous small projects that seek to improve on the innovations that Ethereum brought to cryptos, only a few platforms have been able to attract a major following from outside of the crypto community.
Osprey, a leading investment company that specializes in digital assets, recently added a Polkadot fund to its roster. It has already seen substantial interest from investors, many of which are interested in the technology behind Polkadot.
Osprey’s CEO Greg King commented on Polkadot,
“We wanted to launch something first to market and as compelling as we could find and Polkadot fulfilled both of those criteria…It’s very similar to Ethereum as it is an eco-system, but a broader one, in that it is trying to create a multi-chain universe where blockchains can talk to each other.”
With the ability to buy and trade DOT on Nexo, there is a good chance that even more investor capital will find its way to the Polkadot ecosystem. Despite the recent downturn in token prices, projects like Polkadot are likely to continue growing.
Nexo Unlocks Crypto’s Potential
Nexo’s platform is a perfect fit for crypto investors who want to have access to the liquidity that tokens represent.
With Nexo, cryptos can be used for a number of valuable operations, and the company is fully regulated. Crypto holders have loads of options with Nexo.
In addition to giving crypto owners a high degree of functionality, the Nexo Wallet also delivers extreme safety by using military-grade cryptography to keep assets safe.
To learn more about Nexo, and all the features it offers to its users, just click right here. Nexo also offers a cost-efficient way to buy tokens!
The post Nexo Integrates Polkadot into Platform: DOT Eligible for Borrow, Earn & More appeared first on Blockonomi.
June 24, 2021 at 05:37AM https://blockonomi.com from Blockonomi https://ift.tt/2SSdGCR
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