LONDON--(BUSINESS WIRE)--Today, Nexo, the leading institution for digital assets, distributed its fourth dividend of $20,428,359.89 to eligible NEXO Token holders. The payout comprises 30% of the company’s net profit for the financial period of June 30, 2020 - May 30, 2021 and demonstrates 233% growth аs compared to the third dividend of $6,127,981.39 from August 15, 2020.
This dividend distribution is a result of Nexo’s first Governance Vote – the new functionality that empowers NEXO Token holders to participate in important decisions and changes to the Nexo platform. Through the Governance Vote on June 8, the Nexo community indicated its preference for daily payouts of up to 12% APY on NEXO Tokens over dividends. To ensure investors were not adversely affected, Nexo paid out its fourth and final dividend on June 16, 2021.
In just three years, the company has shared a total of close to $30 million in dividends with token holders over four distributions. Following the final dividend, Nexo will continue to share its financial success with token holders through the Daily Interest program. The new scheme, which launched on June 8, 2021, makes the yield in NEXO Tokens more regular, predictable and flexible.
“Our Dividend Program has been a Nexo staple from the very inception of the company, so naturally our team is sentimental about seeing it go. Nonetheless, Nexo is all about sustained innovation and making the first footprints on the surface of the new world of finance. Part of that means saying goodbye to more traditional models of wealth sharing and creating new more efficient ones like Daily Interest on NEXO Tokens,” said Co-founder and Managing Partner Antoni Trenchev about Nexo’s last dividend.
The final dividend and Daily Interest on NEXO Tokens come immediately following a round of new releases from the Nexonomics overhaul – a series of upgrades and features for the NEXO Token designed to drive its tokenomics, reinforce its utility, and cement its value in the digital economy.
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Nexo is the world's leading regulated digital assets institution. The company’s mission is to maximize the value and utility of cryptocurrencies by offering tax-efficient Instant Crypto Credit Lines™, a high-yield Earn on Crypto & Fiat suite, and sophisticated trading and OTC capabilities, while providing the top-tier custodial insurance and military-grade security of the Nexo Wallet. Nexo manages assets for 1.5+ million users across more than 200 jurisdictions.