Managing Your NEXO Token Holdings Over the BEP2 Network

Being an active member of the blockchain ecosystem, Nexo is always attuned to and proactive in addressing the developments in the space.

The industry is renowned for its rapid evolution and the continuous introduction of innovations that aim to enhance scalability, security, and user experience. These advancements are pivotal for platforms and services that seek to remain at the forefront of technological progress and customer satisfaction. As such, understanding and adapting to these changes is not just about keeping pace with competitors but also about leading the way in adopting more efficient, secure, and user-friendly protocols.

In light of the BNB Beacon Chain's recent announcement, the BEP2 transfer network will be phased out in June 2024. This significant update marks a transition in how transactions and transfers will be managed within the ecosystem.

Ensuring a smooth transition for all clients holding NEXO Tokens over the BEP2 transfer network, NEXO Token holders are highly encouraged to promptly and seamlessly convert NEXO BEP-2 to ERC-20 by depositing their BEP-2 to the Nexo Platform. Transferring $NEXO BEP2 to the Nexo Platform will automatically bridge the tokens at no cost and ensure they can be later accessed via the Ethereum network.

Top-ups over BEP2 will remain open until the BEP2 network is operational.

The control and maintenance of the BEP2 network are managed by the BNB Beacon Chain and the specific dates are subject to their discretion.

Please, be aware that NEXO Tokens remaining on the BEP2 network after its official discontinuation in June 2024, as announced by BNB Beacon Chain, will remain on the BEP2 network and will no longer be accessible. We encourage NEXO Token holders to expedite the conversion of NEXO BEP-2 to ERC-20 to ensure seamless access and management of assets.

Following the official phase out of the BEP2 Network in June 2024, Nexo will discontinue the official platform bridge. Tokens stored in BEP-2 addresses will be frozen.

Simultaneously, an equivalent amount of NEXO will be released from the Ethereum wallet linked to the initial migration. This transition ensures that NEXO Tokens which have been successfully bridged will be accessible in the now unlocked Ethereum wallet, keeping the circulating supply stable.

As always, Nexo consistently provides fair, sustainable, and adaptable updates for our clients to efficiently manage their assets and adapt to the ever-evolving cryptocurrency landscape.