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Nexo announces $12 million token airdrop for platform users

Nexo services will grant points that can be exchanged in a pool with 10 million NEXO.

Nexo announces $12 million token airdrop for platform users

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Crypto services provider Nexo has announced the airdrop of 10 million NEXO tokens as part of its ‘Nexonomics’ campaign, equivalent to $12.6 million at the time of writing. Both new and existing customers can accumulate points until July 7 by utilizing various Nexo products, such as Earn, Borrow, and even funding the account.

Additionally, taking out loans during the campaign period is a prerequisite for earning points. These points can then be exchanged for NEXO tokens starting July 10, with the claim period ending in July 24.

Nexo announces $12 million token airdrop for platform users
Points breakdown for Nexo’s campaign. Image: Nexo

Users who start their points hunt this week will earn a 1.5x multiplier on their points, and this multiplier shrinks with each passing week. Moreover, there will be no week multiplier for users starting on June 5, although new users can still be eligible for the 5x multiplier reserved for new accounts.

To illustrate, a new user purchasing $2,000 worth of Bitcoin in the first week of the campaign could earn 450 points, factoring in the purchase value, Weekly Multiplier, and New User Multiplier. After the initial transaction, the New User Multiplier remains active for other eligible actions throughout the campaign.

A Loyalty Multiplier can also be earned by users who stack NEXO tokens, multiplying points by up to two times.

Furthermore, users should be aware that some actions may decrease their point balance. For example, withdrawing crypto assets from a Nexo account will result in a deduction of points.

Nexo advertises with Crypto Briefing. The editorial team independently selected this article for publication.

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