🎯 The Hunt for $12,000,000+ in NEXO Tokens is On!
May 08•9 min read
Join the thrill of Nexo's 6th birthday bash and dive into our massive $12+ million in NEXO Token hunt! Stack points, multiply your gains, and unlock more surprises. Ready to claim your piece of our largest reward ever? Learn all about the epic Nexonomics hunt and get in on the action now!
Summary of The Hunt
The Nexonomics-inspired hunt is designed to reward new and existing users for exploring the Nexo ecosystem. A total of 10 million NEXO Tokens are allocated towards the campaign at an approximate value of over $12,000,000*.
Important: Although you start collecting points for eligible actions from May 8, 13:00 UTC, you will be able to turn them into NEXO Tokens, only if you have accepted our T&C within the campaign period. The terms are located in the in-app Rewards Center.
Collecting Points
Points can be collected until Jul 7, 2024, 23:59 UTC by using the eligible Nexo products in the image below. Using the points you will be able to claim NEXO Tokens from Jul 10, 2024, 13:00 UTC until Jul 24, 2024, 13:00 UTC. There’s no cap on points, so you’re welcome to collect as many as you can. More points mean more NEXO Tokens may be claimed at the end of the campaign.
(custom-button: Join the Hunt link: https://platform.nexo.com/)
Different actions bring you different points. Here’s a breakdown of all actions that are eligible for the campaign.
Update: To support all participants and promote an even more balanced and equitable experience, we are adjusting the points awarded for Fixed Term from 0.0025 to 0.001 – this rebalancing will increase the potential of other eligible actions on the Nexo platform, leading to a fairer point distribution. The existing point balance prior to this update (July 4, 15:00 UTC) will not be affected.
Note that staking Ethereum and our Referral Program doesn’t make you eligible for points. Additionally, only loans taken during the campaign period make you eligible for points.
Keep in mind that certain actions can reduce your points balance. For instance, withdrawing crypto assets from your Nexo account will result in a loss of 0.01 points for each $1** withdrawn. Withdrawing BTC will result in a loss of 0.001 points for each $1** withdrawn.
Stacking Multipliers
Multipliers allow you to collect more points for eligible actions. They are the most effective way to increase your points total and are easy to acquire. There are three different point multipliers that can get you ahead in the hunt. After exploring each, we’ll look at an example.
Weekly Multiplier
This one is all about how early you join the hunt. Early hunters that perform eligible actions in the first week of the hunt, get the biggest multiplier. Still, the weekly multipliers are valid for a few more weeks, so the more active you are during the period, the more points you will collect.
Here’s a breakdown of the multipliers, depending on when you buy, trade, borrow and more.
Loyalty Multiplier Is your Loyalty Tier Silver, Gold, or Platinum? Then you receive a multiplier for all eligible actions until the end of the hunt. Just make sure to maintain the highest tier to maximize your points.
Having at least 10% of NEXO Tokens compared to the other assets in your portfolio gets you our Platinum Loyalty Tier. It not only gets you a 2x multiplier but also locks in our highest earn rates on all assets and lowest borrow rates.
New User Multiplier
If you are yet to fund your Nexo account, then you are up for a special points multiplier. Purchase crypto, or top up funds via bank transfer/crypto transfer for the first time during the hunt and get a 5x multiplier that will last until the end of the campaign.
If you are yet to fund your Nexo account, then you are up for a special points multiplier. Purchase crypto, or top up funds via bank transfer/crypto transfer for the first time during the hunt and get a 5x multiplier that will last until the end of the campaign.
All three multipliers stack with each other, so get as many of them as you can. Let's explore this with examples:
Suppose you haven't funded your account yet and want to buy $2,000 worth of BTC during the first week of the hunt. In this case, you will receive 900 points. (2,000 purchase value x 0.06 points for each $1 purchased x 1.5 Weekly Multiplier x 5 New User Multiplier)
Now that you've completed your first top-up transaction you are eligible for the New User 5x Multiplier for other eligible actions during the hunt too. To access the highest Loyalty Multiplier of 2x, you will have to reach the Platinum Tier by adding NEXO Tokens to your account.
None of the multipliers apply for all top-ups, withdrawals, successful identity verification and first virtual Nexo Card activations.
Claiming NEXO Tokens
At the end of the hunt, you will be able to claim NEXO Tokens. Your exact amount depends on the points you’ve collected until Jul 7, 2024, 23:59 UTC.
The claiming period starts on Jul 10, 2024, 13:00 UTC, and ends on Jul 24, 2024, 13:00 UTC. After the period ends, participants will not be able to claim NEXO Tokens.
The 10,000,000 NEXO Token reward will be distributed based on the total amount of points collected by Nexo users. The "token per point" ratio will be calculated at the end of the campaign, depending on the total amount of points.
Examples of Collecting Points
Different types of hunters might go for different ways to maximize their points. Let’s explore a few examples that you could employ depending on your experience level in order to optimize your point collection.
📖 The Apprentice (Beginner Level)
Collect 305 points in your first week at Nexo by exploring the basics. Here are the steps to consider:
- Successful Onboarding (10 points): Download the Nexo app from Google Play or the App Store and create a Nexo account. Complete the identity verification process and get 10 points for starters.
- Buy Crypto (225 points): To fund your account, buy USDT with a credit or debit card. A $500 purchase will get you 225 points. (500 purchase value x 0.06 points for each $1 purchased x 1.5 Weekly multiplier x 5 New User multiplier).
- Swap Crypto (60 points): Swap a portion of your USDT to NEXO Tokens to fill in the missing piece - the Loyalty multiplier. A 200 USDT swap will get you 60 points. (200 swap value x 0.04 points for $1 exchanged x 5 New User multiplier x 1.5 Weekly multiplier).
- Activate Virtual Nexo Card (10 points): Now that you have funds in your account, you can activate your virtual Nexo Card at no cost. That’s a one-time 10 point bonus and the possibility to start spending right away.
Every following eligible action will get you a 5x New User multiplier and a 2x Loyalty multiplier, should you maintain your Platinum Tier acquired after the swap. Time to move on to the next level, apprentice!
🛡️The Tactician (Intermediate Level)
Collect 592.5 points by diving deeper into the Nexo ecosystem. Here are the steps you can explore in the first week of the hunt:
- Fixed Term (7.5 points): The Fixed Term is a great way to earn more interest on your digital assets. Create a 12-month Fixed Term with your $200 worth of NEXO Tokens and collect 7.5 points. (200 value in Fixed Term x 0.0025 points for each $1 in Fixed Term x 5 New User multiplier x 1.5 Weekly multiplier x 2 Loyalty multiplier).
- Debit Mode Purchases (135 points): Spending 300 USDT with your Nexo Card’s Debit Mode can get you a new item from your shopping list and 135 points for your hunt. ($300 spent in Debit Mode x 0.03 points for $1 spent x 5 New User multiplier x 1.5 Weekly multiplier x 2 Loyalty multiplier).
- Buy Crypto (450 points): When you need to restore your balance, you can buy USDT with а credit or debit card. A $500 purchase will get you double the points it did last time due to your Platinum Loyalty multiplier – 450 points (500 purchase value x 0.06 points for $1 purchased x 5 New User multiplier x 1.5 Weekly multiplier x 2 Loyalty multiplier).
Now that you’ve put your funds to use, it’s time to explore some more advanced strategies.
🏹 The Marksman (Advanced Level)
Collect 1350 or 315 points by taking your first crypto-backed loan. Here are the steps you can take:
- Option 1: Nexo Booster (1350 points): Your digital assets can serve as collateral to purchase assets. The easy way to do it is the Nexo Booster, allowing you to take a loan and swap assets in one go. If you want to boost $300 worth of digital assets to acquire 2x more BTC that would net you 1350 points. (600 value boosted x 0.15 points for $1 boosted x 5 New User multiplier x 1.5 Weekly multiplier x 2 Loyalty multiplier).
- Option 2: Instant Loan (292.5 points): The same action can be performed with a regular digital assets loan. The maximum you can borrow against $300 worth of BTC is ~150 USDT. The USDT can then be swapped for BTC. The two actions can get you 292.5 points. (150 value loaned x 0.09 points per $1 of stablecoins borrowed x 5 New User multiplier x 1.5 Weekly multiplier x 2 Loyalty multiplier) + (150 swap value x 0.04 points for $1 exchanged x 5 New User multiplier x 1.5 Weekly multiplier x 2 Loyalty multiplier).
- Credit Mode Purchases (22.5 points): Once you have a Nexo Card, you can easily switch to Credit Mode and continue spending while getting cashback. $50 worth of purchases can get you 22.5 points. ($50 spent in Credit Mode x 0.03 points for $1 spent x 5 New User multiplier x 1.5 Weekly multiplier x 2 Loyalty multiplier).
Keep in mind, that these leveraged strategies expose you to liquidation risk. Remember to always manage your risk.
You’re doing well on your hunt. Time for the last level.
⚔️The Master Hunter (Expert Level)
Collect 2737.5 points by performing one last challenge – Futures trading or Dual Investment on the Nexo app:
- Buy Crypto (450 points): Trading Futures on Nexo requires USDT that you can buy with credit or debit card. A $500 purchase will get you 450 points. (500 purchase value x 0.06 points for $1 purchased x 5 New User multiplier x 1.5 Weekly multiplier x 2 Loyalty multiplier).
- Trade Futures (37.5 points): The points you collect from trading depend on the leverage you select, as it increases your position size. 500 USDT with 5x leverage allows you to open a $2,500 position. Opening such a position gets you 37.5 points. (2,500 Futures position value x 0.001 points for $1 traded x 5 New User multiplier x 1.5 Weekly multiplier x 2 Loyalty multiplier).
- Dual Investment (2250 points): If you’d rather subscribe to a ‘Buy Low’ Dual Investment strategy and use $2,500 worth of USDT to buy ETH at a $2,500 Target Price, you can get 2250 points in just one action. (2,500 value in Dual Investment x 0.06 points for $1 added to a strategy x 5 New User multiplier x 1.5 Weekly multiplier x 2 Loyalty multiplier).
Excited for hunting season? Get started today to benefit from the Weekly multipliers, and collect more points. There might be points for more activities so keep up with our social media channels!
*The equivalent USD value of the campaign pool of 10,000,000 NEXO Tokens is indicative, based on the market price as of June 28, 2024. Please be aware that the market price of NEXO Token may differ on the claim date.
**As per the applicable platform conversion rate at the date and time of the transaction.
Product limitations may apply in certain jurisdictions.
Citizens or residents of the USA, UK, and Canada are not eligible to participate in the campaign.