Markets News Report Technology
May 08, 2024

Nexo Initiates ‘The Hunt’ To Reward Users With $12M In NEXO Tokens For Engaging With Its Ecosystem

In Brief

Nexo unveiled The Hunt–a $12 million initiative to reward users for engaging with Nexo ahead of its upcoming 6th anniversary celebration.

Nexo Initiates ‘The Hunt’ To Reward Users With $12M In NEXO Tokens For Engaging With Its Ecosystem

Cryptocurrency lending platform Nexo (NEXO) unveiled NEXO Token Hunt, a new $12 million initiative aimed at rewarding new and existing users for engaging with the Nexo ecosystem ahead of its upcoming 6th anniversary celebration.

The initiative encourages participants to gather points by engaging in various activities on the Nexo platform. Points can be accumulated until 23:59 UTC on July 7th by utilizing eligible Nexo products. They can be subsequently redeemed at 13:00 UTC for NEXO Tokens on July 10th. There is no limit to the number of points that a user can earn. However, the more points are earned, the more NEXO tokens can be claimed at the conclusion of the campaign.

Various activities bring different amounts of points for participants, including actions such as account funding, using Nexo cards, engaging in borrowing and earning activities, and participating in exchange and futures trading. Notably, specific actions, such as withdrawing cryptocurrency assets from the Nexo account, may decrease the points balance.

Meanwhile, multipliers enable participants to accumulate additional points for eligible actions, offering an efficient means to boost the total amount of points. They come in three variations: weekly multipliers, loyalty multipliers, and new user multipliers. Participants are encouraged to acquire as many multipliers as possible.

At the conclusion of the event, participants will have the opportunity to claim NEXO Tokens. The specific amount they receive is contingent upon the points accumulated throughout the campaign period. The distribution of the 10 million NEXO Tokens as rewards will be determined by the total points accumulated by users of Nexo. The ratio of “tokens per point” will be computed at the conclusion of the campaign, taking into account the overall points tally.

Keep track of cryptocurrency distributions in our Airdrops Calendar.

Nexo Prepares For Community Expansion With The Hunt, Unveils Upcoming Loyalty Program Launch

Nexo provides swift fiat on-ramps for over 40 cryptocurrencies, provides instant cryptocurrency credit lines, offers competitive earn rates on assets, and crypto-backed credit cards. The company assists more than 7 million users across over 200 jurisdictions in expanding their cryptocurrency assets through its extensive range of products and services.

“Building on the success of Nexonomics 3.0, which expanded our community to 3.5 million users in 2022, Nexo’s client base has now doubled to 7 million,” said Nexo in a written statement. “With the strong demand from our community and the engaging setup of the airdrop, we expect many existing Nexo clients to participate eagerly in The Hunt, particularly given that most platform activities reward users with points. That’s an estimate of 7 million participants from the get-go.”

In addition to the airdrop announcement, Nexo emphasized its ongoing efforts to develop a new loyalty program aimed at substantially improving user benefits.

Disclaimer

In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.

About The Author

Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.

More articles
Alisa Davidson
Alisa Davidson

Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.

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