NEXO

NEXO is the native token of Nexo, a centralized crypto finance platform that began operating in 2018. The platform offers users services such as borrowing against their digital assets as collateral, earning interest on their assets, swapping between cryptocurrencies and spending with a card. In this respect, Nexo is not a decentralized protocol but a company that holds custody of assets and runs the services itself.

NEXO was issued under the Ethereum token standard; bridged versions also exist on some other networks such as Polygon. The token forms the basis of the platform's loyalty program: a user's tier is set by the share of NEXO held in the account, and this tier affects loan interest rates, earning rates and some fee discounts. The token can also be posted as collateral for a loan.

As a centralized platform token, its utility depends on Nexo's terms of service, regulatory decisions and company policies. Lzzo.com shows the NEXO price by taking it from the Binance NEXO/USDT pair and converting it to US dollars using Coinbase Exchange's USDT/USD rate; the content is for information only.