Plamen Todorov

Nexo is a leading centralized lending platform launched in 2018 that utilizes cryptocurrency assets as collateral for loans.

Nexo is a blockchain-based crypto lending platform that accepts a wide range of crypto assets as collateral for fiat or stablecoin loans. The platform utilizes NEXO token, providing users with discounts on trades and potential returns through staking. It offers various solutions such as earning interest on crypto, crypto swap pairs, access to the Nexo card, and crypto-backed loans.

Nexo utilizes smart contracts and oracles on the Ethereum network to facilitate its operations. Nexo is one of the pioneering platforms that provide instant crypto loans. After a user deposits funds into their Nexo wallet, oracle establishes the loan details, and the funds are disbursed to the user. When the user deposits funds to repay the loan, oracle transfers the crypto deposit to the user and records the repayment transaction on the blockchain.

Plamen Todorov

Nexo. Senior Engineering Manager

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Nexo (Senior Engineering Manager)