Nexo pays token holders more than USD 2.4 million in dividends

The crypto loan firm, Nexo, has paid its token holders a total of USD 2,409,574.87 in dividends, reaching an annualized dividend yield of 12.73%.

Nexo announced the completion of its dividend payments in a press release on August 16. According to the press release, Nexo has a user base of more than 250,000. In addition, Nexo's dividend yield is supposedly higher than that of all shares that pay dividends that are listed on the S&P 500 market index.

Nexus apparently pays its total dividend in two parts: 50% comes from the Nexus Base Dividend and the other 50% from the Nexus Loyalty Dividend. Nexo says its model is designed to reward long-term investor confidence and reduce market volatility after dividend payments.

The MasterCard Nexus
As noted in the press release, Nexo released a MasterCard credit card for crypto on August 2. In its announcement, Nexo said its Nexo card was the first in the world to allow users to pay in cryptocurrencies without spending it. Nexus elaborated:

"By using the Nexo card to purchase goods and services, you really pay using your Nexo flexible and open revolving credit line that is backed by your crypto holdings and therefore does not sell any of them, which gives you the freedom to spend today and sell their holdings at any time in the future to pay off the loan. "

Payment of dividends through tZERO
Earlier this week, tZERO, the subsidiary of Overstock retailer based on a blockchain, announced the opening of the company's preferred capital security tokens to uncredited investors. This allows non-accredited token holders to earn money through the company's dividends. According to the announcement, tZERO said it could distribute a quarterly dividend of 10% of the company's adjusted gross income. In addition, the company said it was considering paying dividends in more than just US dollars, with Bitcoin (BTC), Ether (ETH) and other securities tokens possible forms of payment.