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This project develops a platform that allows users to retain 100% ownership -of
their digital assets, while having immediate access to cash through the use of
Instant Crypto Overdrafts, solving one of the crucial inefficiencies of the crypto-
world. This service will provide consumers with the opportunity to enjoy their
cryptography without the need to sell it and without the presence of hidden fees,
taxes on capital gains or credit verification.
Overview
Name: Nexo
Project Type: Finance Services
Project Description: Continuing on the technological frontier, Credissimo is
promoting the first overdrafts of instant encryption in the world.
Token Symbol: NEXO
Website: https://nexo.io/
White paper: https://nexo.io/assets/downloads/Nexo-Whitepaper.pdf
Presale or whitelist: https://nexo.io/whitelist
Presale Date: Feb-2018 (whitelisting for Public Presale starts on 21-Feb-2018)
Main Sale Date: April 2018
Company: Credissimo
Industry: Banking
ICO Details
Token
Distribution
NEXO
70% Investors
15% Founders/Team
8% Community Building and Airdrop
7%Advisors, Legal and PR
Strengths
• Credissimo, the company behind NEXO, is the market leader in the online
consumer loan segment of several European countries, and meets the highest
regulatory requirements and is strictly supervised by multiple European banking
and financial services regulators.
• Kosta Kantchev (co-founder) is so involved with clients that he answers each
and every one of the questions in the Telegram groups, providing important
details when answering.
• Easy to use (the whole process is completed by just a few simple clicks).
• No hidden fees, no capital gain taxes and no credit checks.
• Tokens are SEC-compliant.
• Strong Token utility features.
Opportunities
• The only alternative for holders of digital assets was to sell their crypto wealth.
On the other hand, crypto-users craved a service like the one they propose.
• Currently, the settlement process in the crypto world is extremely slow.
• Problems to transform crypto into cash and comply with all regulations.
Weakness
• The interest rates for NEXO Crypto Overdrafts are below the standard interest
rates on credit cards, but it is still high when it comes to loans.
Threats
• Smart contracts will be established in the long term, therefore, in the medium
term, the platform will not be as efficient and secure as it could be.
• If the prices of the Crypto that support the loans fall, the users will have to
increase the amount of these, increasing their possible losses.
Technology/Innovation
Nexo Oracle
Regarding the technological model, NEXO Oracle is the main part of the
platform, it is an automated system that helps to maintain and monitor the
company's business processes, as well as having the following functionalities:
WALLET MAINTENANCE
Placement
DATA ANALYTICS
Hedging positions
Big Data Analysis
Release
Self-regulating algorithms
Maintenance of overdraft safety levels
Prediction modeling
Increase of overdraft limits
Liquidation
6 1
4 3
Smart Contracts
The smart contract used by NEXO will record the current outstanding balances
of the customer's Overdraft wallet. Interest will be accumulated on the Overdraft
balances used. Once customers reimburse their overdrafts or use more than their
available limits, NEXO will credit or debit the balance and register the updated
one in the chain block.
Smart Contracts
1 2 3
The Client transfers crypto assets to The Nexo Oracle operates Once any of the code-prewritten
his Overdraft Wallet according to the autonomously and constantly checks conditions of the Overdraft Contract
Contract, which pre-written logic various data points. are satisfied, the code triggers an
based on computer code. automated action.
The predefined conditions written on
Overdraft Contracts are stored and the Overdraft Contract are constant- Upon appreciation of the value of
replicated on the Blockchain, which ly evaluated by the Nexo Oracle the Client’s crypto assets and after
makes them immutable and through external data sources. each Overdraft repayment, the Nexo
verifiable. Oracle self-executes and the
The value of the Client’s crypto Overdraft limits are automatically
The Client’s crypto assets are assets is determinated in real-time increased.
securely stored and can be unlocked on multiple exchanges in order to
by Nexo only if the Client fails to minimize risks for both parties.
repay the Overdraft.
1. Transfer Crypto to
Overdraft Wallet
2. Receive Instant
Overdraft
CLIENTS
3. Repay Overdraft
4. Withdraw Crypto
from Overdraft Wallet
Products and Services
Bank Transfer
Nexo will allow users to receive their instant encrypted overdraft the same day
or the following day by bank transfer through SWIFTs, SEPAs or ACHs to their
personal or commercial bank account.
Loss of Ownership
Currently, the sale of crypto currencies is the only option that investors have to
obtain benefits, losing the potential gain that the currency may have in the
future; With the proposed solution, NEXO authorizes clients to retain 100%
ownership of their digital assets, maintaining the potential capital gain.
No Credit Checks
Access to unsecured financing requires lengthy credit reviews and often results
in a lower personal credit score and higher interest rates on the client's loans;
NEXO's overdraft eliminates the need for rigorous credit controls that could lead
to credit score deterioration.
The short-term investments in NEXO seem very feasible, the project has gained
propaganda during the last days and the team will launch an Overdraft product
live in April, just after the mass sale ends, this will probably increase the price, and
the user who sells his token will probably get high performance.
For long-term investments it is a solid option, it is a project, as mentioned above,
that solves a great need in the industry, and that is providing a useful token,
therefore, the demand will always be high, so The preservation of the token for
the future will end up being very lucrative.
Useful Links
Whitepaper: https://nexo.io/assets/downloads/Nexo-Whitepaper.pdf
Telegram: https://t.me/nexofinance
Webpage: https://nexo.io
Twitter: https://twitter.com/NexoFinance
Facebook: https://www.facebook.com/nexofinance
Medium:https://medium.com/nexo/nexobank-get-instant-loans-se-
cured-by-digital-assets-2d04c75d25ac
Reddit: https://www.reddit.com/r/nexofinance/