Crypto
lending firm Nexo has paid its token holders a total of $2,409,574.87
in dividends. Nexo reportedly has reached an annualized dividend yield
of 12.73%.
Nexo announced the completion of its dividend payments in a press release
on Aug. 16. According to the press release, Nexo has a user base of
over 250,000. Moreover, Nexo’s dividend yield is purportedly higher than
every dividend-paying stock listed on the S&P 500 market index.
Nexo
apparently pays out its total dividend in two parts — 50% comes from
the Nexo Base Dividend and the other 50% from the Nexo Loyalty Dividend.
Nexo claims that its model is designed to reward long-term investor
confidence and decrease market volatility following dividend payouts.
The Nexo MasterCard
As noted in the press release, Nexo unveiled
a MasterCard-branded credit card for crypto on Aug. 2. In its
announcement, Nexo claimed its Nexo Card was the first in the world to
let users pay in cryptocurrency without actually spending it. Nexo
elaborated:
“When using the Nexo Card to purchase
goods and services, you actually pay using your Nexo flexible open-ended
revolving credit line that is backed with your crypto holdings and thus
not selling any of them, which is giving you the freedom to spend today
and sell your holdings whenever you want in the future to pay back the
loan.”
Dividend payments through tZERO
Earlier this week, tZERO, the blockchain-based subsidiary of the retailer Overstock, announced the opening
of the company’s preferred equity security tokens to non-accredited
investors. This allows non-accredited token holders to earn money
through company dividends. Per the announcement, tZERO said it might
distribute a quarterly dividend of 10% of the company’s adjusted gross
revenue. Moreover, the company said it was considering paying out
dividends in more than just the United States dollar, with Bitcoin (BTC), Ether (ETH) and other security tokens being possible modes of payment.
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