Polygon Arrives on Nexo With Up to 20% APR for MATIC Holders

Polygon Arrives on Nexo With Up to 20% APR for MATIC Holders

Polygon is thrilled to announce that our native MATIC token has been added to Nexo, the world's most advanced, regulated digital assets institution offering instant crypto loans. Nexo customers will now be able to buy, swap, borrow against MATIC held on the platform and earn up to 20% annual interest, paid out daily. This means there are more options than ever to engage and build value via MATIC. 

With MATIC on Nexo, users can:

  • ​​Buy: Buy MATIC on Nexo and get it in your wallet within seconds.
  • Еarn: Receive up to 20% APR.
  • Exchange: Swap it on the Nexo Exchange instantly.
  • Borrow: Borrow against it at rates as low as 6.9% APR. Plus, there’s a cashback promotion for new customers! 

What MATIC Can Do for You on Nexo

Customers can head to the Nexo Exchange to make their first purchase, and MATIC will be transferred to your wallet within seconds. 

Nexo will be running a promotion through Jan. 3, 2022, providing additional rewards to all customers with MATIC in their wallets. 

The interest will vary depending on your Nexo Loyalty tier, as well as whether you’re earning with Fixed Terms and opting to earn in the native NEXO token. The promo rates for each tier are:

Platinum: Маximum rate – 20%. Standard rate – 16%.

Gold: Маximum rate – 17%. Standard rate – 13%.

Silver: Маximum rate – 16.25%. Standard rate – 12.25%.

Base: Маximum rate – 13%. Standard rate – 10%.

MATIC will also be launching in market pairs with Bitcoin, Ethereum, Binance Coin, Tether, USDC, as well as Euros, GBP, and USD. This means you have plenty of options for buying and selling your MATIC to maximize your trading profits. 

Moreover, by using your MATIC as collateral, you can then borrow other assets at rates as low as 6.9%. Best of all, if this is your first time opening up a credit line with Nexo, you can even get 0.5% cashback on your total borrowed amount. 

MATIC and the Polygon Ecosystem

Polygon is a leading Ethereum scaling platform that works in parallel with the Ethereum network to improve functionality and promote infrastructure development. Polygon achieves this via its array of scaling solutions, including Polygon PoS, Polygon SDK, Polygon Avail, Polygon Nightfall, and Polygon Hermez.

As one of the fastest-growing blockchains, offering high speed and low gas infrastructure, Polygon hosts notable DeFi bluechip decentralized apps (Dapps), including Sushiswap, Curve, Aave, Balancer, and Kyber.

MATIC is designed to encourage network development and is used to reward those who support its operation. Users who validate Polygon network transactions can earn MATIC in what is known as staking and also get the option to vote on network upgrades. 

Head over to Nexo to open an account and start earning. Keep up with the latest news on our blog.

Be a part of our social ecosystem!

Website | Twitter | Ecosystem Twitter| Developer Twitter | Enterprise Twitter | Studios Twitter | Telegram | Reddit | Discord| Instagram | Facebook | LinkedIn

About Nexo

Nexo is one of the world's leading regulated digital assets institutions. The company’s mission is to maximize the value and utility of cryptocurrencies by offering tax-efficient Instant Crypto Credit Lines™, a high-yield Earn Crypto Interest suite, an instant Exchange service, and sophisticated trading and OTC capabilities, while providing the top-tier custodial insurance and military-grade security of the Nexo Wallet. Nexo has processed $50+ billion for 2,500,000+ users across more than 200 jurisdictions.

Official website: nexo.io

More from the Polygon Blog
Introducing Plonky2

Polygon Zero’s mission is simple: to use zero-knowledge proofs to scale Ethereum to a billion users, without compromising decentralization or security. Achieving this requires fast and efficient proof systems. Today, we’re excited to share Plonky2, a major milestone for zero-knowledge cryptography. Plonky2 is a recursive SNARK that is 100x faster than existing alternatives and natively […]

Read More
Polygon Takes A Major Lead In ZK Rollups; Welcomes Mir, A Groundbreaking ZK Startup In A $400M Deal

TL;DR: We are excited to announce that Mir, a startup building groundbreaking ZK tech, is joining the Polygon family in a $400M* deal. Mir gathered a team of talented cryptographers and engineers, and after almost two years of work developed the world’s fastest ZK scaling technology. The Mir team is now joining Polygon in order […]

Read More
Polygon Announces Polygon Miden - A STARK-Based, Ethereum-Compatible Rollup

TL;DR: We are excited to announce the newest member of the Polygon solution suite - Polygon Miden, an upcoming STARK-based, EVM-compatible rollup. The project is led by Bobbin Threadbare, former Facebook’s core ZK researcher who led the development of Winterfell. Today we are releasing Polygon Miden’s core component - Miden VM, the first open-source STARK-based […]

Read More
Why Web3 Developers Are Choosing Polygon Over Other Solutions 

When it comes to deploying on Ethereum, there is only one place that lets developers easily migrate their projects, offers a broad range of scaling options and has some of the industry’s lowest transaction rates. These are just some of the reasons why the number of teams using Polygon jumped 100-fold in the past year. […]

Read More
Polygon’s Breakthrough Year: 2021 in Review

Welcome to 2022! This is shaping up to be another amazing year for the Polygon ecosystem. But after an absolutely breakthrough 2021, it's got big shoes to fill. Over the past year, Polygon made big strides toward accomplishing its mission of bringing the next billion users to Ethereum. The network’s low-fee infrastructure attracted some of […]

Read More
All You Need to Know About the Recent Network Upgrade

Earlier this month, Polygon’s core development team with help from bug bounty  platform Immunefi successfully fixed a critical network vulnerability. Considering the nature of this upgrade, it had to be executed without attracting too much attention. We are now ready to give the full account of what happened. A group of whitehat hackers notified Immunefi, […]

Read More