Nexo, a cryptocurrency lender, has paid its token holders $2,409,574.87 in dividends, reports CoinTelegraph. According to the publication, Nexo has an annualized dividend yield of around 12.73%.
In an official post from the team, Nexo reveals that users only need to log into their Nexo Mobile application to take a look at their dividend, which they’ll see in their cryptocurrency wallet. From there, the post goes on to explain a little bit about the dividend strategy:
“Nexo’s innovative dividend-distribution methodology rewards long-term investor confidence and also decreases market volatility around ex-dividend dates. It consists of two parts – the Nexo Base Dividend and the Nexo Loyalty Dividend, each making up 50% of the total amount in the current distribution.”
Since the platform went live in April of 2018, it has grown its user base to over 250,000. From there, it has gathered up a ton of the market share as well. “This has given us the means to further give back to the community, by allowing investors from around the world to generate 8% with Nexo’s high-yielding ‘Earn Interest’ product,” it reads.
From there, the platform has its own Mastercard that launched recently as well. “In addition to regular and growing dividend payouts,” the team is building even more features for its users:
- Better interest rates on all Nexo products
- Premium features and functionalities
- Higher Nexo Card Cashback
- Exclusive Nexo Card designs
- Affiliate commissions
- Invite-only access to products and events