Nexo is quietly one of the best performing crypto assets of 2020

Nexo, one of the leading regulated platforms in decentralized finance (defi) with $2 billion in assets under management, is one of the best performing crypto assets of 2020 with gains of over 730% this year.

Nexo is quietly one of the best performing crypto assets of 2020

Nexo, one of the leading regulated platforms in decentralized finance (defi) with $2 billion in assets under management, is one of the best performing crypto assets of 2020 with gains of over 730% this year. Nexo investors seemed to have reacted positively to the recently launched overhaul of their token with Nexonomics, a move seeking to boost the value of the NEXO token by offering token holders higher yields (up to 12%) on all their assets using open-market principles. Since launch of Nexonomics, the token price jumped from $0.16 per share in November to $0.75 per share in December, a 368% increase. In November, Nexo celebrated 1 million users by increasing yields to 8% APY for cryptocurrencies and 12% for stablecoins, if you accept Nexo tokens. Nexo leverages BitGo as its custodian to provide 100% cold storage technology in bank-grade Class III vaults and the BitGo platform is SOC 2 Type 2 certified. The new Loyalty program has Base, Silver, Gold and Platinum tiers to progressively give you greater rewards the more NEXO tokens you hold in your account, simultaneously reducing your borrowing rates for the Instant Crypto Credit Lines and increasing your yields. Nexo CEO Antoni Trenchev earned a Masters in Law from Humboldt University of Berlin. He served as the Chief Innovation Officer for a law firm before founding Nexo in 2017. Trenchev sat down with Charlie Shrem in November for a podcast episode of Untold Stories to talk about Bitcoin, corporations, banks, government, decentralization, covid-19, crypto backed mortgages, and more. Nexo has a market cap of $383 million.