Nexo logo

Nexo

ICO details

Token nameNexo
TickerNEXO
Token total supply750,000,002
BlockchainEthereum
Accepted currenciesETH, BTC
StatusTo Be Announced
Funding Goal$ 52,500,000
Funding Cap$ 52,500,000
Token nameNexo
KYC/AMLRequired
Restricted CountriesChina, United States
Telegram Members Count60,200

About

Nexo delivers the World’s First Instant Crypto Overdrafts, thus resolving a crucial inefficiency for the crypto world. Up to this very moment, no alter... Read more

Visit Website Read the whitepaper

Our Review of Nexo

Rating
81

Nexo is a top-tier project and is almost certain to succeed. The fintech company has been created by a highly professional team with strong regulatory experience, and their mission of extending instant crypto loans and credit cards has already received unprecedented demand in only a few weeks. The project’s market presence and customer service is also extremely high. Nexo shows the future of crypto in a very nice light, and the instant liquidity they offer sets them apart from other financial products in the crypto space. Nexo have a SEC compliant token that pays legitimate dividends.

  • Concept

    Concept Rating
    25 /30

    The Nexo platform provides overdraft protection and fiat/crypto loans against existing crypto balances. As loans are back by a client’s crypto (weighted against coin volatility for margin calculations), no verification or credit checks are needed, and significantly, there are no fees for loans - a huge improvement over bank loans. Moreover, investors are not subject to capital gains tax as they do not have to sell assets to gain access to fiat, meaning, the value of their crypto held as collateral can accrue in value until the loan is repaid. Not having to sell crypto to access funds is a huge bonus for investors, as is access to instantly liquidity, which the planned credit card will provide - bank transfer of loans will take roughly a day to process. These services together allows a significant, high-security option to cross the fiat-crypto bridge. This has been one of the biggest bottlenecks to adoption - real world usage; investors will be able to spend cash without time-consuming conversions of crypto to fiat, and they will also enjoy crypto price exposure, though at the fairly high rates of credit cards - 15%.
    The roadmap, which extended to Q2 of 2019, is clear with milestones every 6-8 weeks - each with meaning to the user market - including automated KYC/AML, FDIC banks joining, increased loaning limits, credit card rollout, etc. A solid integration into the banking system with full regulatory compliance will make Nexo a standout in fintech, and the project is backed by a long-standing fintech heavyweight, Credissimo, so expect a high degree of professionalism.
    Nexo is the first SEC certified asset-backed security. This is a high bar. Having passed it provides a strong measure of validity: any such project must provide full disclosures, financials and a host of other transparency data. Any company issued investment disclosures must be accurate, so investors are guaranteed due diligence and full information statistics within the literature - this is an enormous plus the market has been waiting for. It will virtually guarantee exchange market success for the coin (unless there is a very serious overall market crash). Even then, look for the coin to be among the first and strongest to recover.
    The company claims to already have over $1 billion USD in loan applications, and with a fluid, intuitive platform, an instantly sold-out sale, very high profile, a dynamite value proposition, a huge market demand and an all-star team - expect a top-performing coin with legs.

  • Team

    Team Rating
    21 /25

    The Nexo team consists of 15 core members and five advisors. The three founders, who are from financial lender Credissimo and have many years of experience between them, are superbly situated to give this project a strong start, sustained presence and market traction. They boast a member of Bulgarian Parliament pushing blockchain friendly regulations, and two fintech experts with deep knowledge and experience of regulatory issues and implementation. The project’s focus is strongly in Europe, so it remains to be seen how well it translates elsewhere. However, they do have a US market expert and SEC approval, so it’s won’t be overly challenging.
    The tech team is solid, though not exceptional and are surprisingly understaffed. However, the results are evident on the platform - an intuitive interface, strong design, smooth functionality - and the team get high marks for execution already.
    Nexo’s advisors are among the best in the crypto-sphere and in the cross-border fintech and banking space. Michael Arrington, founder of Techcrunch, and Trevor Koverky, founder of Polymath are strongly backing the project. Continuous Audit is provided by Deloitte - a strong plus.

  • Competition

    Competition Rating
    15 /20

    With a significant edge in regulatory compliance and security, Nexo stands to do very well in an anti-blockchain regulatory environment. They will adapt to changing regulations quickly and swiftly thanks to a focused product line and expertise. Competitors will struggle (already happening) under scrutiny. None of the company’s competitors provides the same level of regulatory strength, and since Visa shut down the wide majority of crypto credit cards, causing major headaches to users, this more secure option will be very appealing.
    Many other competitors exist, but Nexo presents as far more professional, with faster response and market demanded features. In addition, no competitors appear to combine both credit card and lending capabilities.
    The project’s largest competitor for the lending environment is SALT, which is a more complicated platform to engage with and has some serious limitations. Ethlend is a peer-to-peer lending network but like SALT, has slow loan execution times. Bankera provides a debit card but lacks some of the Nexo benefits as it only works through on-demand conversion of crypto to fiat; TenX also features a credit card and is trying to create blockchain interoperability.
    Monaco has a creative approach - card holders must hold MCO tokens for 6 months and get a favourable card rate with good features, and then there is Ripple (XRP), which is listed here because of Ripple’s strong access to mainstream capital providers, especially the banking industry. While Ripple is not a loan-issuing entity, it seems the only other crypto-business focusing on strong compliance.

  • Economics

    Economics Rating
    12 /15

    The Nexo Token (ticker: NEXO) is an ERC-20 compliant security token that will pay dividends of 30% of profits each month pro rata to token holders in the form of ETH - this a very large amount for dividend payout, so this could be an excellent hodl. Total supply is 1 billion with 500 million currently circulating, and is being traded on DEX. The token is not needed to access loans but discounts are offered if the token is used as collateral or is used to repay loans. Price action is driven by exchange market demand plus utility value on platform.
    The token sale is complete and reached the project’s hard cap of $52.5 million in presale - largely via institutional investors. The public sale was cancelled due to the presale being massively oversubscribed. The sale issued 70% of total supply - right in the correct range - and the issue price was lower than the advertised $0.10 because the presale sold out (with a reasonable discount of 15%).
    Over $1 billion in loan requests are already on the system - well above expectations. Nexo seems to have carefully constructed their token sale to balance investor protection, market demand and long-term holding of the token. The company attempted to steer it away from short-term flips, but the market likes a hot coin and that will happen in any event. In a very investor focused move, the team is allowing returns of initial investment if anyone is dissatisfied with the recent creation of a large issue of locked tokens for loan servicing due to high demand.

  • Presence

    Presence Rating
    8 /10

    Nexo has a well-crafted website that is extremely clear, easy to navigate, and highly informative, as well as a clearly written whitepaper. There isn’t much mainstream press on this project as one might imagine but Forbes have given the team two awards for creativity and service. The project is also very easy to find via Google.
    The project has a very large community following and Telegram is well-attended with company answers coming swiftly and meaningfully. Bots are also used providing instant and detailed answers to a variety of questions. 52,000 members are still onboard, even after the token sale, mostly looking to buy when the token hits exchanges. Some of these followers could also be attributed to the project’s heavy marketing and airdrop campaign.

Team

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    Kosta Kantchev
    Managing Partner
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    Georgi Shulev
    Managing Partner
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    Antoni Trenchev
    Managing Partner
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    Vasil Petrov
    CTO
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    Kalin Metodiev
    Corporate Finance
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    Kamen Trendafilov
    Finance Director
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    Savina Cherneva
    Compliance
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    Bilyana Christova
    Marketing
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    Plamen Todorov
    Blockchain Developer
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    Teodora Atanasova
    Business Development
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    Joro Yordanov
    Product Designer
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    Boris Delev
    Technical Lead
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    Ivan Kostov
    Marketing
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    Yasen Damyanov
    Business Development
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    Mario Krastev
    Senior Quality Assurance Specialist

Video - "Nexo - The World’s First Instant Crypto-backed Loans"

Real Time Updates for Nexo

Roadmap

  1. Q1 2018
    February: First Nexo Airdrop Campaign. March: Finalize Token Sale
  2. Q2 2018
    April: Launch Instant Crypto Overdrafts in USD Secured by BTC and ETH. April: Listing NEXO Token On Exchanges. May: Start M&A Process of Acquiring a FDIC-insured Banking Institution. June: EUR Currency Support. July: Launch Nexo Credit Card
  3. Q3 2018
    Additional Altcoins / Tokenized Assets Support, JPY Support, KYC/AML Automation, Launch Nexo Mobile Wallet, Launch Affiliate Program & Tell a Friend Program
  4. Q4 2018
    Increase Maximum Overdraft Limits, Second Nexo Airdrop Campaign
  5. Q1 2019
    Finalize Acquisition of the FDIC-insured Banking Institution , Introduce Deposit Accounts
  6. Q2 2019
    Enterprise API, Installment Loans, Further Increase the Maximum Overdraft Limits

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Funding Goal $ 52,500,000 - - -
Funding Cap $ 52,500,000 - - -
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