Nexo ICO Review
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Nexo is funded and run by the team behind Credissimo, a leading FinTech Group serving millions of people across Europe for over 10 years. Credissimo has always operated under the highest regulatory requirements and strictest supervision by multiple European Banking and Financial Services Regulators. Credissimo has demonstrated a steady growth over the last 5 years, they are audited by Deloitte, and their CFO recently won the Ernst & Young’s CFO Award 2016 for Liquidity and Risk.
- Website: https://nexo.io/
- Token symbol: NEXO
- Token type: ERC20 (Ethereum platform)
- Whitepaper: https://nexo.io/assets/downloads/Nexo-Whitepaper.pdf
- Hard cap: $ 50,000,000
- Total possible tokens: 750,000,000
- Token distribution:
- Pre-sale and public sale: 70 %
- Founders and team: 15 % (48 months vesting)
- Community building and airdrops: 8 % (18 months vesting)
- Advisors, Legal and PR: 7 % (up to 12 months vesting)
Tokens for the founders and team will be vested for up to 48 months with quarterly payments.
Tokens for the community will be vested for up to 18 months with quarterly payments.
Tokens for advisors will be vested for up to 12 months.
Tokens sold in the private sale will not be subject to vesting.
Vesting is handled by a smart contract.
Token distribution timeline
Tokens will be distributed to presale contributors shortly after the token generation event (TGE) in March or April.
● Q1 2018
○ February : 1st Airdrop campaign
○ March : Finalize Token Pre-Sale
● Q2 2018
○ April : Launch Instant Crypto Overdrafts in USD Secured by BTC and ETH
○ April : Finalize Main Token Sale
○ May : Start M&A Process of Acquiring a FDIC-insured Banking Institution
○ June : EUR Currency support July: Launch Nexo Credit Card
● Q3 2018
○ Additional Altcoins / Tokenized assets Support
○ JPY Support
○ KYC/AML Automation
○ Launch Nexo Mobile Wallet
○ Launch Affiliate Program & Tell a Friend Program
● Q4 2018
○ Increase Maximum Overdraft Limits
○ Second Nexo Airdrop campaign
● Q1 2019
○ Finalize Acquisition of the FDIC-insured Banking Institution
○ Launch Deposit Accounts
● Q2 2019
○ Enterprise API
○ Installment Loans
○ Increase Maximum Overdraft Limits
Nexo already has a working software platform and is planning to launch it in Apri after the ICO funds for lending has been collected. The team has demonstrated the working system for CoinRunners staff.
The NEXO token is the World’s First US SEC-compliant dividend-paying asset-backed
security token with utility features. NEXO tokens are backed by the Overdraft assets
In return for their initial backing and support, NEXO Token holders have the right to receive
30 % dividends from Nexo’s profits. Dividends are paid monthly in ETH and distributed
proportionately to all NEXO token holders, immediately when payment is sent to the dividend
The NEXO tokens also have utility features:
— you can use NEXO tokens to make Overdraft repayments at discount on the interest;
— you can use NEXO tokens in your Overdraft Wallet to increase your Overdraft Limit, again
at discount on the interest.
The core team consists of the founders and owners of the financial institution Credissimo,
which is a leading consumer credit provider in several EU member states.
Most team members come from high-level careers in the banking sector. Almost all are
Bulgarian nationals, but the management has their higher education from learning
institutions in the UK. One of the team is a member of the Bulgarian Parliament. The CFO
won the Ernst & Young’s CFO Award 2016 for Liquidity and Risk .
The CTO has founded several technology companies out of which one was acquired. The
technical part of the team should be well equipped to handle Nexo’s platform development.
Among Nexo’s advisors are Techcrunch founder Michael Arrington and Polymath founder
● Nexo is a unique ICO in the sense that it’s launched on the shoulders of existing
consumer credit company Credissimo with over 10 years experience in the market.
Credissimo is a market leader in the Online Consumer Lending segment in several
European countries and has won several awards for their innovations in product
types and technology. Credissimo has 130 employees, received 1,000,000 loan
applications in 2017, out of which 79,000 loans were granted.
Credissimo operates under the strict EU banking supervision and regulatory
requirements, and is audited by Deloitte. Their annual report is available on their
Credissimo reached 9th place in the Alternative Finance category of the European
Fintech Awards 2017 as well as 2 Forbes Business Awards for 2017.
● By offering instant loans not just in crypto, but in fiat currencies like USD and EUR,
Nexo is way ahead of existing lending platforms such as ETHLend and SALT ( See a
comparison on page 30 of the whitepaper ).
Nexo builds off the experience from a market leading credit company, and offers a
smooth, intuitive and easy solution for crypto holders to take loans in their
cryptocurrency. They have a very good chance of becoming market leader for crypto
● The NEXO token is the World’s First US SEC-compliant dividend-paying
asset-backed security token with utility features. We believe that tokens as securities
will be the future. Being first mover in this category will attract a lot of attention.
● Token holders will receive 30 % dividends from Nexo’s earnings. Together with the
status as an SEC compliant security token, it has more resemblance with an actual
company stock than most coins in existence right now.
● Almost all the collected funds of $50m will be used to fund clients’ Overdraft
requests. The IT has been funded by own company funds and is almost ready at this
point with a live launch of the Overdraft product in April.
● While the founders and majority shareholders of Credissimo and Nexo are the same
group of people, Nexo is not formally involved with Credissimo, and neither is a
daughter company of the other. While the Credissimo team has self-funded the
development of Nexo into a very impressive prototype platform and will bring the
experience and knowhow from Credissimo, there is no formal connection between
the two companies.
● The hard cap of $50m is 4-5 times higher than what Credissimo was lending out in
2016. This means that Nexo has funds to run much larger scale operation from the
start than Credissimo ever has.
In conclusion, this is a unique and highly interesting ICO. Nexo is tapping into the asset tokenization and lending market which is expected to be one of the most profitable in the near future. Their appealing concept, intuitive interface, and experienced team gives them an extraordinary advantage over the competitors such as SALT and ETHLend. While their close relationship with Credissimo will help them, Nexo is an independent company and will have to conquer a much bigger and entirely new market on their own.
For flipping, we’re very positive. Interest is building around this ICO very fast, and we expect it to be unlikely that there will be anything but a very small cap crowdsale. The crypto markets are likely to have recovered at the time of the TGE in March/April. That all the 30% of tokens that are not sold to investors have a long vesting period further improves the flipping potential.
The team is proactive in getting listed on exchanges and is already in talks with several of the major exchanges.
Long term potential
the potential is very good. The team behind Nexo is already way ahead of their competition and will most likely be offering a superior product to SALT and ETHLend already at the time of TGE. With a hardcap of $50m in a trillion dollar market, it is easy to see that there could be a very substantial long term upside to the investment.
The team has demonstrated the ability to build a market leading credit company in the competitive European markets, and have been awarded for their innovation and financial
The 30 % dividends paid to the token holders will add further value to the long term holder of this coin.