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The quest for financial freedom and privacy advised the formation of Bitcoin. Bitcoin proved that a solution did exist that rid the middleman.

But though the intermediary had been eliminated, the community found that Bitcoin simply wasn’t enough. 

There had to be a solution that blew open the set of limited possibilities. That is when Vitalik Buterin and five other co-founders conceived the idea of Ethereum. 

Through Ethereum there is smart contracting and tokenization. Real-world, tangible assets—or intangible services, could be packed and sold to investors allowing fractional ownership. There are also decentralized applications (dApps) which introduced resilience and censorship resistance. 

However, Ethereum is now dominant in a new form of finance. Open or decentralized finance simply known as DeFi is democratizing banking and enabling the owner of assets to lend or borrow assets.

The Growth of DeFi

In reality, DeFi is all-encompassing and describes financial applications that are domiciled in Ethereum. Still, that doesn’t mean exchanges or blockchain agnostic lending, exchanges, or borrowing platforms aren’t DeFi.

According to DeFi Pulse, there are over $1.5 billion worth of ETH locked by DeFi dApps. A closer look shows that DeFi is a broad term that describes a financial software of some sort, built on a blockchain platform that can be pieced together like money Legos.

Essentially, it is a system that is open to everyone, is trustless, and eliminates the middleman. Owners of coins can simply plug in and earn above-average interest rates or borrow funds with his/her assets as collateral. 

Cryptography introduces privacy while the underlying blockchain tags security and resilience. With smart contracts, the user has control over their finances and that’s exactly why, supporters argue, DeFi is simply getting started.

Several projects are already looking to provide irresistible services to end-user, a standout is Plutus DeFi.

What is Plutus DeFi?

Plutus DeFi is a DeFi aggregator that plugs in multiple products and financial dApps into one single platform. 

It is here where a user can at a single search discover the best lending rates for different assets. 

Plutus DeFi Homepage

For better absorption, their present focus is on improving user experience, design, privacy, and anonymity.

The team at Plutus DeFi wanted to create a system that brings together different protocols. By unifying these systems simply by standardizing communication between them enabling seamless creation and execution of complex financial transactions, Plutus DeFi aims to be at the center of it all for the benefit of the casual DeFi investor searching for the best deals.

They started as a DeFi Lending aggregator but have rapidly developed, rolling out a full-stack DeFi aggregator that includes ETH mixers—(PlutusDeFi “Bl3nd3r”) —for anonymity, while integrating several privacy protocols like ZKDAI and Aztec Protocols. 

They also support buying insurance via third parties such as Nexus Mutual for deposits on lending, mobile money credits to DeFi Lending in Africa, all while remaining decentralized and non-custodial. 

Special, in case of a black swan event, the user is covered as there is insurance payable via a syndicated pool. Deposits from MetaMask are allocated in a Decentralized Lending Pool (DLP) smart contract. Its code is public and has been satisfactorily audited. 

Plutus DeFi currently supports Compound and DydX. However, they will in the future integrate Fulcrum, PlutusDeFi, Synthetix, and Curve.

Specifically, Plutus DeFi wants to drive DeFi adoption for enterprises. Towards that end, they have developed a Fiat to Crypto Savings Bridge, DeFi Debit Cards, DeFi-as-a-Service (SDK) for Exchanges, and other attractive products for the benefit of the ecosystem.

The only time fees are charged is during withdrawal. This is when a static fee of 0.5 percent is levied. This is aside from the network fees charged for using the network.

The Plutus DeFi ecosystem comprises:

  • A Lending and Earning solution that lets a digital asset holder earn up-to 15 percent APR on supported digital assets.
  • A payment and payroll solution where businesses or individuals can distribute tokens to contracts or business from a click of a button.
  • Derivatives platform where a user can execute and utilize DeFi derivatives, and hedge or manage risks transparently.
  • A non-custodial DeFi-as-a-Service platform that integrates smart contracts, wallets, and exchanges. 

The Team

Core members are:

Arnie Hill is the Head of Strategy and Marketing. He also doubles up as the founder. He is the Partner of Obsidian Capital and has invested in 31 blockchain companies. 

Ali Hararwala is the co-founder and head of product and operations. He has worked in several companies including Citibank, Oracle, Nissan, Publicis, GoldMoney, Louis Dreyfus, and NHS.

Paresh Masani is the CTO and Head of Technology. He is an experienced senior engineer with a demonstrated history of leading and developing complex projects.

Advisors

Plutus DeFi Advisors

Toby Lewis is the Enterprise and Venture Strategy Advisor. He is the founder of Novum Insights and Global Corporate Venturing.

Dynal Patel is the advisor of the Product and is the Senior Product Manager in Cardano.

Wilson Davis is the Business Advisor and the financial consultant focused on wealth management, loan generations/analysis, and systems creating client-company symbiosis.

Mehmed Ćoralić is also the Business Advisor. He is a highly analytical Global Wealth and Investment Business Support Lead with experience spanning throughout some of the world’s largest international banks.

Partners

Plutus DeFi has partnered with Nexus Mutual and Aztec. They also have a deal with Formatic Solution—a “Web3 wallet authentication solution aiming to increase the onboarding and utilization of products of blockchain.” 

On July 14, they also partnered with Sentinel dVPN to secure off-chain privacy for users. 

Plutus DeFi Tokenomics and Distribution

The platform’s ERC-20 utility token, PLT, is at the center of Plutus DeFi. It is used for alignment of objectives, general coordination, as well as for incentivization. 

Specifically, the PLT token can be utilized as follows:

  • Burning where tokens collected as network fees are burnt. In the long term, this benefits token holders.
  • Governance since PLT holders will vote for developments as platform upgrades, burn rates, and so forth. Each PLT token is counted as a vote. Anyone with over one percent of the total supply delegated to their address can propose a governance plan. All proposals are subject to a two week voting period.
  • Staking: a percentage of network fees collected will be used to compensate stakers. No nodes are required to run.
Plutus DeFi Token Details

In total, there will be 120 million PLT tokens, and distributed as below:

Plutus DeFi Token Distribution

50 million PLT tokens will be sold during the project’s Seed round. Each token will be sold at $0.01, to raise $500k. There will be a 55 percent Bridge Fee.

10 million PLT tokens will be sold during the project’s private sale. Each token will be sold at $0.05, to raise $500k. There will be no Bridge Fee.

Overly, the team plans to raise $1 million. KYC is mandatory.

The remaining 60 million PLT tokens will be distributed as follows:

  • Advisors will receive 4 percent of the total supply
  • Employees will receive 7 percent of the total supply
  • The foundation will have control of 10 percent of the total supply
  • The ecosystem and the community will receive 20 percent of the total supply
  • Five percent will go to Plutus DeFi reserve
  • Four percent is allocated for Business Development

The PLT vesting schedule will be as follows:

Plutus DeFi Token Vesting Schedule

Their ICO is the first blockchain project to implement a hybrid Bridge-Bonding Curve model. 

In this model, during the last stages of the token sale, PLT’s price will increase. The team said this model increases maximum liquidation and penalties should be triggered and imposed on a seed round. 

This drastically slashes total supply within the first month, benefiting the long term supply of the total supply.

market and price

PLT is already listed at UniSwap, Poloniex, Biki, MXC and Kucoin, according to Coingecko. However, most trading takes place at Biki where the PLT/USDT pair is listed. 


PLT is only on the market for a week and is currently trading at $0,18. It’s often seen that the first week is a down week with new projects on the market. Private investors taking profit and new investors coming in for a new round.



Short-term Catalysts

  • The team is experienced with the CEO a serial investor in the blockchain space.
  • Plutus DeFi is user friendly with a non-custodial wallet available on both desktop and mobile every day of the week. 
  • Their adoption of the hybrid Bridge-Bonding Curve model, a deflationary mechanism, could see the total supply of PLT tokens drop in the first month after the Token Generation Event (TGE). The lower the supply, the higher the prices of PLT tokens.
  • The initial supply of PLT will be dynamic, varying anywhere between nine percent and 27.7 percent depending on investor liquidation. In the worst-case scenario, 27.7 percent of the total supply will be released. 
  • Plutus DeFi is placing their tokens at the center of events as it is used for governance and staking. With a burning strategy in place, token holders should expect price gains in the coming days.

Long Term Catalysts

  • With their advocacy for privacy, anonymity, and enhanced user experience, the project is drawing high-level partners from lending apps—Compound, and from third parties. Less than a week before the end of the ICO, Sentinel dVPN became the latest addition.
  • The team prioritizes anonymity. In that direction, they will integrate privacy mixers like Tornado Cash, and their blender– PlutusDeFi ETH bl3nd3r, masking and shielding ETH transactions.
  • There are 120 million PLT tokens, 50 percent of which are delicately distributed to the team and community. 50 percent are spread out to public investors.
  • Users in Eastern Europe planning to use Plutus DeFi Debit cards must hold a minimum set amount of PLT tokens. This is a net positive for the price especially if there is an unexpected demand.
  • DeFi lending provides an alternative enabling token holders to earn above rate interest rates from their assets. Plutus DeFi is already making selection easy by aggregating and proposing platforms with high lending rates for supported assets like DAI.

Enjoy #DeFi with the Best Prices across Exchanges

Peer to Peer, No KYC, Audited and Insured Smart Contracts

Data is the new currency. The play with data has seen companies reap billions simply by collecting every keystroke of freely generated information. 

This can be from creating a platform where users are product, or through other covert operations placing these agencies at the forefront. While blockchain platforms claim to be in purpose to cure the data disease, their efforts are have been weak and near ineffective. 

Simply put, the current systems and mode of interventions are feeble in the face of the data crunching giants keen on maintaining status quo. 

The only problem with this is that the more it stays like it is, and especially in the face of a global crisis like we find ourselves in—literally sleepwalking into, the global economy should, by all means, be prepared for the boom and busts due to the failure of companies and governments to roll-out (often to their disadvantage) assets that gives the end-user total control of the value of their data.

Data as Currency

Thing is, what if there is a way of collecting all of the world’s unstructured, personalized data, and assigning value? What if a next-generation web browser is rolled out in such a way that a casual web browser can perfectly sync with decentralized applications powered by distributed ledger technology? 

If this is possible, a perfect circular data economy would be created where data—whose quality is determined by the quality (drawn from the action of the user across the internet), can be valued. 

The newly created personal data value (PDV) is then used within an ecosystem to replace fallible fiat. As fungible money within a true digital economy, user data secured through decentralization–represented as DecID (or decentralized identity (DID)) is valued and used as a pass to access several on-chain features. 

Specifically, because PDV is tied to reputation which is a metric of quality, DecID finds immense use especially in open finance (DeFi). This, by all means, will found the next wave of financial revolution where data can technically replace fiat money, opening new windows of opportunity for all and sundry since the system is anchored on distributed ledger technology, immune from the circular nature and boom and bust common in the fiat world. 

Introducing Decentr (DEC)

This is exactly what Decentr does. 

At core, the project wants to usher in a radically different socio-economic paradigm model to (as described in their whitepaper) “modulates the excesses of the mainstream economy and the fractional reserve banking system that supports it by ensuring exchange rates between all currencies, fiat, digital and data, are controlled at the level of every user.” 

This way, Decentr fundamentally redefines the relationship between data and economics through an innovation that prioritizes local control of valuable keystrokes of data often generated unconsciously. 

To achieve this goal, the goal is to first decentralize data control away from corporations and governments for permanence and direct control at an individual level. 

After that, user data is packaged and made valuable before being turned to money that’s useful in a digital economy as an energy-efficient medium of exchange.  

Admittedly, a true digital economy won’t be viable without a decentralized internet of value where data is moved cheaply and at near-instant speeds. 

Hallmarks of a flawless digital economy are security, speed, control, and data used as fungible money controlled at an individual level.

For complete decentralization, the Decentr platform will serve as open-source software that can be used for storage and sharing solutions but most critically, acts as a user layer for blockchain. 

As a user layer, Decentr will be user-centric, scalable, secure, and safe meaning the platform will automatically create a 100 percent decentralized web 3.0/4.0 solution compliant with EU’s General Data Protection Regulations (GDPR) rules.

But what’s interesting about Decentr is their venture into finance through decentralized Fintech–(dFintech) that comprise dEx—a platform where listed assets and currencies can be traded and modulated by a user’s PDV, dPay, dLoan)–that its digital economy requires and underpinned by the system’s Deconomics. 

This reserve will prime dFintech and will always be under the control of Decentr but not available for trading in the open markets. Instead, it will be used for liquidity and underwriting decentralized insurance enabling free, fluid exchange of data into money and vice versa.

As part of the whole, Decentr dLoan will be conceptually different from mainstream DeFi solutions as it inherently enables all cadre of participants (enterprises and regular users) to accrue interest (flexible and personalized to a user’s PDV) from the crypto loan market regardless of the amount of DEC held in their dWallet.Enabling this will be a supportive and interconnected functions underpinned by the DEC reserve, PDV, and dPay-—which offers unmatched liquidity.

Decentr Project in Summary

  • Decentr is pushing the adoption of blockchain and Distributed Ledger Technology (DLT) by building a blockchain agnostic platform where DeFi dApps can operate and communicate with each other seamlessly. They already have a partnership with Ethereum and are deeply connected with Holochain and Tomochain. The team seeks to create a bridge where the latter’s DeFi dApps can connect to those active in Ethereum (the dominant chain). For efficiency, they will implement ZKsync for cheap and near-instantaneous of ETH or related transactions. 
  • Moreover, Decentr aims to create value out of data through Deconomics where its token, DEC, will be centrally positioned to act as fungible money exhibiting all positive traits of fiat. As money, DEC can be used as payment of goods and services at Point of Sale (PoS) terminals. DEC can also be loaned through their platform’s native DeFi features as dLoan, or traded for fiat or other assets through Decentr’s dEx. A user’s PDV (the exchange rate) will determine their annual APR of every amount lent through the Decentr investing pool. A favorable PDV means a user can get uncollateralized loans from the dLoan platform as well as from external DeFi dApps like Aave and Compound. 
  • The platform will also roll-out an extension that vastly improves on the Brave browser as a gateway to a decentralized ecosystem where data is packaged and valued securely and under the control of individuals with exchange possible via the dEx. The team says their web browser will be faster than Tor (even browsing onion addresses). Towards this goal, Decentr weaves in their advanced decentralized communication and Fintech features into their web 3.0 interface. 
Decentr Web 3.0 Architecture
  • Besides, Decentr has an interest in IoT, and are currently researching on a hardware application called the Smart Chip Node (SCN) using Decentr software. SCN will comply with LTE standards but also has built-in support for 5G.

Team

Decentr Team

They have to offices, one in London, and the other in Minsk. 

  • Nikita Anikeev is the CTO and co-founder
  • Paul Sluszko is the COO and co-founder
  • Rich James is the CCO and co-founder

The key development team in Belarus comprise:

  1. Maksim Ramanousk the lead developer
  2. Ivan Kantaef the senior developer
  3. Alexei Mayorov the senior developer

Development partners in Spain are:

  1. Prof. Juan Manuel Corchado, a software engineer
  2. Dr. Javier Prieto, a software engineer
  3. Diego Valdeolmillos Villaverde, a software engineer
  4. Agustín San Román Guzmán, Research assistant

Marketing and dissemination partners are: 

  1. Lee Hirschmann, the lead marketing strategist
  2. Rodolfo Grimani, communication Consultant
  3. Gianluca Rossi and Lorenzo Impronta are R&I consultants

Partners

Decentr Partners
  • Black Edge Capital, a blockchain fund, consultancy, and service agency.
  • The Bioinformatics, Intelligent Systems, and Educational Technology (BISITE) Research Group, formed by a group of researchers interested in emerging technology including AI, IoT, and Smart cities.
  • Rotechnology are experts in communication design.
  • Holochain (Nikita and Rich held an AMA with Holochain representatives on July 21, 2020.

DEC Tokenomics and Distributions

The native currency of the Decentr protocol is DEC and is ERC-20 compliant. Its utility is from the ecosystem’s Deconomics. DEC primes Decentr, and is used as an exchange between all data and fiat as it primarily draws its value from structured data and the activity of its integrated DeFi features including dPay, decentralized insurance, dLoan, and dEx.

To summarize, DEC will be:

  • Used as a mode of payment
  • A tradable unit of value 
  • A unit of conversion
  • Used to capture the value of user data and network’s activity
  • Underwriting the platform’s decentralized economy

The initial circulating supply is set at 61.5 million DEC tokens, and the total supply is set at 1 billion tokens.

The DEC’s contract address is 0x30f271C9E86D2B7d00a6376Cd96A1cFBD5F0b9b3 (check Etherscan). At the time of writing, there are 2173 holders.

DEC Token Distribution

7.5 million DEC tokens are sold through an IDO in different stages to raise $1.25 million.

DEC seed raise was completed in 2019. $250,000 was raised. 2.5 percent of the total supply was sold each for $0.01. Notably, a majority (75 percent of the initial 50 percent) of the unlocked tokens sold during the seed will be used for dEx liquidity.

Decentr DEC Seed and Private Token Sales

The private sale of DEC ended on July 13 at Dolomite. It ended only after 10 minutes. Only approved users participated. ETH and wETH were accepted currencies. Each token was sold for between $0.0141 and $0.02.

Decentr DEC Distribution
  • The team will control 100 million DEC tokens, but tokens locked for one year. (Can be locked up further as a proof of commitment from the team)
  • Partners and advisors will control 100 million DEC tokens but tokens locked for the next six months.
  • Foundation will control 326 million DEC tokens. Tokens will be locked for six months.
  • The Decentr Reserve will account for 400 million DEC tokens. All these tokens will be locked in the mainnet and never sold in the open markets. 

7.5 percent of the raised funds will be used to build liquidity at Uniswap, Balancer, and other DEXes listing DEC.

However, holders of DEC (that is private and public sale participants) can take part and earn fees when building liquidity on Balancer or Uniswap.

DEC Markets and ROI

Decentr Markets

DEC is already listed at UniSwap, Balancer, Idex, Hotbit, and Hoo, according to Coingecko. However, most trading takes place at UniSwap where the DEC/ETH is listed. 

Only Hoo supports the DEC/USDT pair though the spreads are huge (4.7 percent) and the market is still thin with a $111k 24 hour trading volumes. 

UniSwap’s liquidity is decent and spreads low, 0.6 percent. A $5,000 block trade will go through without much slippage.

Decentr DEC Market Price

DEC is currently trading at $0.133 and is up 68 percent in the last trading week. From this, private token sale participant has posted an 8.5X return on their investment in USD terms.

Short-Term Catalysts

  • The team is building liquidity and have currently being listed outside of DEXes. As a quality project, it’s only a matter of time before DEC is listed by mainstream exchanges. Already, DEC is available at the MXC exchange. UniSwap’s liquidity has also improved following DEC’s successful IDO. (7.5 percent of collected funds will be used to build liquidity at different DEXes supporting DEC). Poloniex also supports DEC.
  • DEC market cap is still low and liquidity patchy. Therefore, with what the project promises, it is likely that returns will be high if key milestones are struck through 2021.
  • The team is also experienced. However, over and above everything, the DEC community is very supportive and vibrant. Decentr’s minimum viable product (MVP) will likely launch by the end of the year as revealed by Rich James. 
  • There is vesting and lock-up periods for purchased token. The team’s DEC will be locked up for one year with vesting though there is a possibility of lock-up. As it is, no new token will hit the open market until early 2021. DEC’s initial supply has been set at 61.5 million from the 1 billion total supply.
  • Ahead of the MVP, the team plans to announce partners, release more news, and carry out more AMAs. 
  • Holochain has deep ties with the project and remains one of the earliest staunch supporters. This only shows the quality of the project and what Decentr aims to do with data. With data being money, and DEC deeply tied to all activities within its ecosystem, at spot rates, the token seems undervalued.

Long-Term Catalysts

  • As a metric of quality, DEC tokens were snapped up in 10 short minutes in their private sale IDO. Few projects sell out as fast.
  • Further boosting DEC are plans of integrating the platform with several verticals including the Banking and PSP industry, Brick and Mortar supermarkets and groceries, and the lucrative online advertising industry. These industries will create demand—as Decentr charges a two percent fee for any data exchanged within its ecosystem–for DEC, pushing prices higher. 
  • Part of Decentr is to change how DeFi works as they build a circular economy. With interoperability (it is blockchain agnostic), their success will only see DEC edge higher as it gains prominence since their key innovation is the leveraging of data as currency useful in DeFi dApps.
  • Already, the Bank of England (one of the oldest in the world) has reached out to the Decentr team to discuss the potential of rolling out a CBDC. The goal, as per their report, was to “determine the merits and compatibility of our technology and Deconomics model where this pertains to the BoE’s plans to introduce a UK CBDC.”
  • So disruptive will be Decentr’s DeFi features–like dPay, dLoan, and dEx, that if successful, it shall replace Swift, clearinghouses, and other payment services. DEC will evolve to be true decentralized money oiling a digital economy while keeping data secure.

Enjoy #DeFi with the Best Prices across Exchanges

Peer to Peer, No KYC, Audited and Insured Smart Contracts

Decentralized finance (DeFi), or open finance is more like a movement, a concept than a specific (tangible) thing. It’s an acknowledgement from the community and an expression of confidence that the traditional finance system is irreversible broken.

Technically, DeFi is term that describes a collection of blockchain-based, intermediary-free solutions reshaping banking—including lending, and the financial industry. Implementation has seen the delivery of financial services being 10X than those delivered by traditional firms.

Diverging from the intermediation and resolution of conflicts dictated by legal proceedings and high fees, DeFi settlement layer is code.

Since code is law, transactions are pre-determined and results are specifically dependent on the terms laid out by a guiding smart contract.

By porting financial services to a transparent blockchain—most of which are based in Ethereum, DeFi has democratized access to financial services enabling coin owners to borrow against their holdings or earn above rate interest rates by lending coins/stablecoins to those in need.

What is the DeFi Money Market (DMM)?

With over $1.6 billion worth of ETH locked by DeFi dApps, one promising platform that has been gaining traction over the last few months is the DeFi Money Market (DMM).

Through the platform, a registered user and owner of ETH or stable coins like USDC or DAI can earn annual yields of 6.25 percent.

Interestingly, the DMM market is backed by tokenized real-world assets which generate income greater than interest owed meaning there is baked-in over-collaterization independent on the performance and volatility of the deposited coin.

The one-year collateralization is 183 percent, and the value of all active assets stand at $8,792,879 at the time of writing.

DMM Market Explorer

DMM differentiates itself by using deposited assets (ETH, DAI, and USDC) to purchase interest generating real-world assets which are subsequently tokenized and posted on the transparent Ethereum ledger tracked by Chainlink’s oracles.

Chainlink role in the DMM DAO market

This way, users can track the asset’s performance and carry out different analysis should any form of audit be needed. Interest earned is then recycled back to the DMM DAO ecosystem where DMG can be swapped for ETH/DAI/USDC inclusive of accrued interest.

DMG Assets Characteristics

Notably, the introduction of a delegated payments on the Ethereum network means fees are payable in DMM mTokens, not ETH. Over time, and as recently observed, it has been increasingly expensive (exceeding Bitcoin) to post transactions or execute smart contracts via the Ethereum platform.

This arrangement is, therefore, a welcomed relief for traders and investors seeking value by lowering fees while still being secured by a trusted and one of the most decentralized Proof-of-Work-powered blockchain platform.

Why DMM?

Some key drawers of DMM include:

  • Stability: While the crypto world is known for its wild volatility, DMM yields are stable. This is because DMM assets are backed by tokenized income generating real-world assets effectively creating a bridge linking traditional finance with the crypto world. For savvy investors, the prospect of stability should be the main drawer since it allows him/her to make decisions and based on this prediction—based on stability, earned yield can be used to supplement income.
  • There is an element of trust since there is stability due to the linking of yields to the performance of DMM assets which generate income. Most importantly, these assets are tokenized meaning they are transparently viewable from a distributed layer.
  • There is over-collaterization since income generated by backing real-world assets are usually more than the projected, stable annual yields. Besides, the value of these assets (ETH, USDC, and DAI) are usually higher than the amount of issued ERC-20 compliant DMM mTokens.
  • The DMM Foundation’s partnership with Chainlink—a decentralized blockchain-agnostic oracles platform. The deal adds another layer of security to the ecosystem by writing essential on-chain that details the overall health status of DMM. As per their whitepaper, the goal of Chainlink is to “reliably and securely take information on the assets that back the DMM Ecosystem, and publicize them on-chain.” This way “Chainlink will accurately and transparently portray the health and collateralization of the DMM ecosystem as well as inject the necessary information for ecosystem participants to know how their crypto is being allocated to generate interest.
  • There is flexibility as interest earned by a DMM holder is accumulated per block. As such a holder can enter and exit the DMMA with no time restrictions.

Team

DMG Team

Behind the DMM Foundation is a seasoned team of experts drawn from academia, Legal and regulatory, compliance, Fintech, and DeFi.

Gregory Keough is a seasoned global executive and entrepreneur with 25+ years’ global experience and impressive track record of digital innovation in both large enterprises (MasterCard, Telefonica, and others) as well as startups. He is the CEO and Founder.

Derek Acree has over 20 years of experience in corporate and business law. He also has extensive experience in mergers and acquisitions and joint ventures in a broad range of industry sectors, in both cross-border and domestic transactions.

Corey Caplan is an experienced entrepreneur with a demonstrated history of working in the software-as-a-service, consulting, and cryptocurrency industries.

Others include: Adam Knuckey, Zachary Rynes, and advisor Matthew Finestone.

DMG Investors

Early investors of DMM include legendary investor, one of the early adopters of Bitcoin, and seasoned VC, Tim Draper. Others are Stephen McKeon, Alon Goren, and Josef Holm.

Partners

DMM Partners

DMM has partnered with Huobi, Chainlink, Draper Venture Network, Coinbase, Binance-backed Trust Wallet, Loopring, just to name a few.

DMG Tokenomics and Distribution

DMG is an Ethereum-based ERC-20 compliant utility token and a fork of Compound’s COMP governance token. There are 250 million DMG tokens in total supply of which slightly over 25 million are in circulation.

DMG will be a tool, a sort of glue, of managing and growing the DMM DAO ecosystem. Holders of DMG can vote for changes, effectively governing many aspects of the DMM DAO.

Specifically, they will decide which types of assets will be introduced and state their allocation. Meanwhile, the decentralized community governing the DMM DAO can vote to effect changes on DMG tokenomics and utility including claiming the excess revenue generated from within the DMM ecosystem.

DMG Tokenomics and Token distribution

DMG tokens are distributed as follows:

  • 30 percent of tokens were sold to public investors through an initial decentralized exchange (DEX) offering (IDO). Each token was sold at $0.36 first at the dmg.defimoneymarket.com powered by Loopring protocol’s Dolomite, and second at mesa.eth.link, powered by the Gnosis protocol.
  • 30 percent reserved to incentivize partners, developers, and for integration with other protocols
  • 40 percent allocated to the DMM Foundation for continued development, support, and for other general purpose. This amount of locked till Nov 15, 2020, thereafter a vesting schedule will be initiated till Nov 21, 2021. Contract time-locks and vesting are designed to reduce DMG supply over time while limiting the voting power of the DMM Foundation.
DMG Token distribution

The team opted for an IDO (which is technically an IEO) so that everyone with an Ethereum address and an internet connect can participate.

Token sale started on June 22, 2020, ending two days later as the team raised $6.5 million, easily surpassing its hard cap of $2 million. Initially, the IDO was scheduled to run for a month through to July 22, 2020.

150 million of DMG tokens are vested

The private sale raised 9.3 million DMG tokens were sold. A cap of two million DMG was placed per investor. Each token was sold at $0.16

Funds Distribution

10 percent of raised funds used to bootstrap liquidity (to prevent huge slippage at DEXes). On June 22, the DMM Foundation injected more liquidity at Uniswap.

Primarily, funds will be used for protocol development, marketing, issuing grants, business development, funding loans for asset introduction, legal, reserves, and to meet miscellaneous expenses.

DMG Market Performance

DMG market performance

According to Coingecko, DMG is currently trading at $0.831623 with a market cap of $22,901,690, drawing a 24-hour trading volume of $3,512,317. There are 27,768,243 DMG tokens in circulation from a fixed total supply of 250 million.

DMG Markets

UniSwap is a dominant exchange supporting the DMG/ETH pair. The same pair is also traded at Idex and there is an USDT pair available on MXC.

At DMG spot price, its ROI is 2.3X in USD terms, less than a week after launching.

Short-Term Catalysts

  • Big announcements are expected in coming weeks and because of the popularity of DMG we expect top exchanges to list DMG. Having DMG partnered with Huobi and Coinbase team is a give away on what might come.
  • Huobi plays a big role in the DMM ecosystem for fiat-crypto gateways and liquidity.
  • There is total transparency. The circulating supply was made public on Coingecko by tracking the DMMF’s token holdings including time-locked smart contracts.
  • DMG’s demand remains high and was one of the top traded token in UniSwap. On June 25, 2020, DMG token accounted for 25 percent of UniSwap’s protocol and the team had not even deposited extra liquidity.
  • As a client-facing DeFi dApp, the team has allocated 10 percent of raised funds to boost liquidity. On June 25, 2020, the team deposited $350k of liquidity to the DMG-ETH pool on Uniswap. Dolomite’s DMG liquidity was equally boosted.
  • DMG liquidity is also being built as more exchanges continue to list the token. Idex is the latest while it has been integrated by 1inch Exchange. Through 1inch Exchange, users can swap in and out of the DMM DAO ecosystem with minimum slippage thanks to the exchange’s ability to pool liquidity from different Ethereum-based DEXes.
  • Buying token is easy. With sales executed via DEXes, all one has to do is connect via a Coinbase wallet, Trust Wallet, Portis, MetaMask, and any other supported wallet and get started without hitches.
  • Time-lock contracts and vesting will reduce supply of DMG which is a net positive for price. Meanwhile, there is checks and balances to ensure decentralization, preventing the DMM Foundation from having majority control.
  • Regardless of its sharp uptick in price and trading volumes, DMG is still a low cap token with immense value proposition that has attracted interesting investors including Draper. The token, and what its represents, is highly likely under-valued.

Long-Term Catalysts

  • DMM brings real-world assets to the Ethereum blockchain further extending DeFi use cases while remaining unique from other DeFi platforms. Interest payments are secured by a first lien of these vetted and approved income generating assets. And the more the assets (mTokens), the more the revenue.
  • Their yield is stable (6.5 percent) and backed by real-world assets that can be transparently audited. According to a Blockfyre report, the interest received by holders of DMG tokens are currently drawn from $8.5 million worth of real-worth asset majorly from pools of vehicles in the United States. Over 1,000 lien documents has so far been published. In a world of declining yields, the above rate yields is a real drawer for investors seeking for diversification. More categories of assets will be voted and added in the future.
  • The team is experienced and draw their experiences from the logistics industry, finance, banking, academia, investment world.
  • DMG has attracted top-tier partners including Chainlink—a leader in decentralized oracles, Huobi, Draper Venture Network, and even Binance-based Trust wallet. A listing at Binance will drastically re-value the token, pumping it to new highs.
  • Tim Draper has invested in the DeFi platform which goes a long way in indicating its quality.
  • Since there is a baked-in overcollaterization (physical assets generating higher yields than interest expected by clients), extra DMG tokens can be burnt/destroyed, used to grow the ecosystem, or as decided by the community depending on extra income revenue earned. This is a strong fundamental that will support DMG prices over the long haul.

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Introduction

Perhaps what is interesting about the modern world is its rate of tech evolution and innovation. From light bulbs, cars, washing machines, telephones, and roughly 30 years ago, the groundwork was laid for the Internet.

The world has never been the same again. It was dubbed web 2, the publishing age, since anyone, anywhere could create content and “push” it to the other side of the world. The world became a village.

Fast forward and the 2010s brought us the blockchain. Seven years later, the concept of dapps took root. Dapps were ordinary applications whose back end ran on a distributed, smart-contract ledger. Ethereum is still the favorite.

With Ethereum, there is just more than what meets the eye. Yes, there is smart contracting and its middleman, eliminating automation which also fostered innovation. This innovation seeped into the restive financial industry and now we have decentralized finance, or DeFi.

DeFi: It is just the beginning.

DeFi is open finance where owners of ETH—or native currency of a smart contract’s platform say Cosmos (ATOM), for instance, can borrow or lend their holdings for a stable coin. DeFi has revolutionized traditional finance. And Ethereum is the base for this welcomed innovation.

But DeFi is not specific, it is all-encompassing, and they involve exchanges and lending apps. At the time of writing this, there were over $900 million worth of ETH locked up in DeFi applications.

Ethereum (ETH) Locked in DeFi dapps

The most popular is MakerDAO, where borrowers received DAI, a stable coin with ETH as collateral. Lenders in the meantime can earn above rate interest rates.

But DeFi can’t function without oracles, or portals that convey useful, reliable—and always vetted real-world, off-chain information, that can trigger smart contracts which also run DeFi apps.

Thing is, Ethereum and similar platforms require trusted oracle for valuations, settlements, and dispute resolution. And DeFi and developers need to resolve the “oracle problem” before there are other advances.

This is vital because should secure oracles that provide stable data feeds are compromised then DeFi as we know will collapse.

Otherwise, the closed-looped, self-contained nature of ordinary smart contracts won’t allow the full utilization of certain DeFi apps that may require external data for activation.

What is Tellor?

Providing a solution to this is Tellor. It is an Ethereum-based decentralized and secure oracle for DeFi dapps. Tellor is an easy, implementable solution through which DeFi dapps can receive high value data for smart contracts.

Their data feeds are stable and reliable because they make use of staked miners who compete through Proof-of-Work to submit official value for requested DeFi data.

TRBs are mined with each successful data point but a portion of it, 10%, is taken by the company for ecosystem development. This developer share goes to the treasury of the founding team to finance the team’s effort.

Tellor says this is necessary to “maintain a decent token price for profitable mining and a secure network” consequently aligning incentives between miners and Tellor’s founding team.

Tellor: Decentralized Oracle and a Hybrid Consensus Algorithm

Tellor is a project that was built from a need. Its creators had earlier created a startup, Daxia, a derivatives protocol on Ethereum, which required an oracle.

How Tellor (TRB) Decentralized oracle for DeFi dapps work

Daxia would create tokens that represented long, or short sides of a trading pair. To function, an oracle was required for smart contracts to be executed.

For their needs to be met, the team built Tellor, a decentralized oracle that fully met their needs.

Aware that DeFi has the potential of being a multi-billion industry, Tellor has built a network of staked miners where through Proof-of-Work, they can reliably channel secure and stable pricing data for the burgeoning industry.

The Tellor Oracle is an on-chain data bank where miners compete to add data points in return for rewards called “Tributes” or TRB. For miners, they earn a base amount of 5 TRB for every submission and tips as incentivisation.

Interested parties then pay Tributes to submit a request for data to their decentralized Oracle. The oracle then settles on a best funded query and creates a Proof-of-Work challenge for the miner to solve. Each query collects pricing data and makes it on-chain.

As another cushion of security, miners are required to stake their Tributes. To take part, a miner must stake 1,000 TRB. This is to dis-incentivize those who may want to game the system.

The combination of Proof-of-work, a gold standard in consensus, and staking gives the decentralized oracle an edge over competitors. Besides, there is quality since queries are made every 10 minutes.

Tributes is key to Tellor, and their work is to:

  1. Provide security by incentivizing miners and required for dispute resolution—charged as fees. They are also needed for staking.
  2. For the building of a striving and robust Tellor ecosystem and community. This is only achieved by ensuring continuous distribution of the token.
  3. Ensure a sustainable system.

Team

Tellor TRB team

Brenda Boya is the CEO and co-founder. She is an Ethereum developer and a former economist in the US Government. Before that, she was the lead developer and VP of Daxia.

Nicholas Fett is the CTO. He’s actively designing and developing a system for off-chain data access and validation on Ethereum. Before that he was the founder and CEO of Daxia.

Michael Zemrose is the co-founder. He describes himself as an expert in developing, communicating, executing, and sustaining strategic initiatives. Before that he was the Chief Strategy Officer at Daxia.

Partnership

Binance Labs, ConsenSys, and MakerDAO are investors and major partners.

Last year, they also partnered with Radar Relay, a P2P trading platform.

Tokenomics and Distribution

TRB, as aforementioned, is an Ethereum-based utility token that powers the Tellor system. Notably, they didn’t carry out an ICO. Instead, they opted for a developer share. 10% of miner rewards is diverted to the founders’ treasury.

“A dev-share allows us to get the necessary financing we need to create a sustained and secure oracle network, but only if we really deliver a cutting-edge product that’s needed. If we don’t, then the token value will plummet and there won’t be any interest in Tellor, be it miners or actual projects using the oracle.”

“So instead of the project dying while already having raised millions in dollars, we would be left without anything in hand and a failed project. This commitment and proper incentive are what we are after.”

At the time of press, the token is trading at $6.61 with a 24-hour trading volume of $226,265 according to streams from CoinGecko, a coin tracker.

At this level, the token is up 17% in 24 hours and 130% month-to-date. It is down 22% from its all-time high of $8.73 and 35X from its all-time lows of $0.18 registered on Nov 10, 2019.

Tellor TRB Price Action

There will be 1.05 million TRB tokens in total and 960k are already in circulation. The token’s market cap stands at $6,437,774 and is therefore ranked at 270.

TRB is actively traded on IDEX, where the TRB/ETH is the most popular trading pair drawing daily trading volumes of $74,994. Other supporting exchanges include Vitex, Citex, and Bilaxy.

Tellor TRB supporting cryptocurrency exchanges

Furthermore, TRB is available at Bidesk.

Short term Catalysts

  1. Tellor is a project created out of necessity. The team understands what they are trying to solve and their solution resonates well for DeFi dapp creators. As a reflection of their goals, the token soared 33X from its all-time lows of $0.18.
  2. The team tight-knit and experienced. Tellor executives were part of Daxia, a derivatives protocol based on Ethereum.
  3. Tellor has received investments from DeFi industry leader MakerDAO and Binance Labs.
  4. There are rumors that Binance DEX could list the token. Binance DEX is massive and is powered by Binance’s technology. Should they list, the token’s liquidity will increase and that is a net positive.
  5. The idea of giving up and opting for a developer share instead of an ICO reveals their true intention and urge to see the project blossom.

Long-term Catalysts

  • The amount of ETH locked up in DeFi platforms continue to rise. It recently surged past $1 billion mark. Supportive fundamentals from DappRadar further reveals that more people who interacted with blockchain experimented with Ethereum and specifically DeFi. This is huge and for a platform that serves DeFi dapps, it’s only a matter of time before they receive more investments from Fortune 500 companies and the likes.
Tellor Oracle Adoption cycle
  • Their emphasis of security and decentralization is attractive for purists, and over the long term and if DeFi blossoms, this will be a major talk point more so if there is exploitation of other oracle solutions. The security of the network is directly proportional to TRB market rates. The higher, the more secure the platform. Additionally, Tellor’s smart contract has been audited by CertiK.
  • TRB total supply is relatively low and fixed. There is no pre-mine. Tellor’s popularity will only mean more demand for TRB, and market forces will mean a repricing beyond the token’s all-time high.
  • Tellor can work on any chain with smart contracting capability. This means gathering cross-chain information is possible.
  • Development team is working on “creating a secure, scalable, and on-demand Oracle to help smart contracts achieve their true potential.” Research on Zero-knowledge submissions to reduce gas costs and to prevent mirroring, and automatic reporting and monitoring is already been done.

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The Background of Lending

Lending, the act of transferring excess wealth to those who can put it to work is as old as the invention of money itself. Records show that lending pre-dates the Roman and Greek cultures and was actively practiced by Mesopotamians. Like today, there were stringent rules guiding how borrowers and lenders co-existed.

Obviously, there has been an evolution thanks to the technological breakthroughs from the 80s through to the early 2000s. Needless to say, the needs of borrowers and lenders are pretty much the same: use these loans to fill a gap.

Like the way it has been since time immemorial, the modus operandi is pretty much the same. The lender extends excess capital in his/her position to the borrower with the trust that the latter would pay back on time and with interest or whatever rules there is to the binding contract. Often, and this is because of opportunity cost, interest will cushion the lender from inflation and other principal wiping movements. Meanwhile, the loan forwarded to the user, regardless of the mechanics guiding their arrangement, will help foster growth in one way or another.

With the same premise of lending that, there has been change. However, the fundamentals of, and attitudes towards the same is constant. From the Code of Hammurabi to the CDOs (Collateral Debt Obligations), largely blamed for the bubble of the Great Financial Crisis (GFC), and the advent of cryptocurrencies, lenders and borrowers will be always be part of the process for the benefit of all.

In the age of blockchain and cryptocurrencies, holding of valuable digital assets is yet another reason for loaning out the excess in the quest for profitability and liquidity. Of the many cryptocurrency lending platforms, Nexo is a standout. For simple reasons.

Introducing Nexo

Nexo, powered by Credissimo, is a blockchain-based overdraft system where users can instantly borrow short term cryptocurrency loans based in Zug, Switzerland. The platform is automated and users-including hedge funds, miners and general investors, simply deposit supported coins in the Nexo wallet and receive instant cash loan in fiat.

Nexo Business Model

Besides, interested parties can deposit coins-only on EUR, USD, GBP and stable coins as of writing, and earn daily interest from their idle assets. The terms of the loans are spelled by the Nexo Oracle and stored in an audited Ethereum smart contract. While at it, the deposited collateral is secured by BitGo and insured. Some of the platform’s unique features include the lack of credit check, no hidden fees and users need not to pay capital tax gains.

Reasons for choosing Nexo

The Nexo Oracle

Nexo Oracle

The Nexo Oracle is the heartbeat of the platform, governing how loans are distributed, monitoring processes and for data analytics. To determine the credit worthiness of a borrower, it uses a Loan-to-Value ratio (LVT) to the platform’s legacy lenders taking into consideration several variable including market liquidity and depth.

If the Oracle calculates your LVT ratio and finds that it is 50 percent of your deposit, then if you agree to the terms and conditions, you’ll be loaned half of your deposit in fiat.

Interest rates, in APR (Annualized Percentage Rates) are automatically determined by the Oracle, and annualized. However, if the price of the underlying asset drop by half, additional crypto deposit will be required through a margin call.

Nexo supports over 20 cryptocurrencies and tokens. Introducing flexibility, borrowers have an option of repaying in ETH, BTC, Euro, USD and NEXO, the platform’s native ERC-20 “restricted securities” token marketed as SEC-compliant under Regulation D Rule 506 (c). Different from other platforms, token holders receive proceeds from Nexo’s profitability, divided proportional to the owner’s token balance.

Team

Nexo Team

Running Nexo is a dedicated team led by Antoni Trenchev LL.M, the co-founder. Prior to joining Nexo he was the Chief Innovation Officer and the Member of the Advisory Board at Credissimo. There, he was the head of Fintech strategy and concurrently advised on AML and KYC rules. Similarly, Kosta Kantchev, a co-founder. Like Antoni, he was the member of the Advisory Board at Credissimo.

Georgi Shulev is yet another co-founder. He’s an expert in banking, drawing useful experiences from Unicredit Bank Austria, Lehman Brothers, and the European Investment Bank.

Nexo Team

Evidently, Nexo has continued to flourish over time and at the moment, there are over 120 employees as Vasil Petrov, the CTO, George Manolov the business development head, Teodora Atanasova in charge of Business Development & Investor Relations, Ivan Kostov in the marketing department and Vasil Stoilov who’s in charge of risk management.

Advisors are Michael Arrington, the founder of TechCrunch and Arrington XRP Capital. The Arrington XRP Capital is perhaps the world’s first digital asset management fund that is denominated in XRP and incorporating xRapid in their processes. Michael has been voted on more than one occasion as one of the most powerful individual in the internet.

Trevor Koverko, the founder of Polymath. Through Polymath, Trevor plans on porting the multi-trillion securities market on the blockchain by the latter being a platform where startups can issue compliant securities token. Lastly, there is Paolo Tasca, the Executive Director of University College of London Blockchain Center.

Roadmap

Behind Nexo’s drive is the team’s ambition of solving inefficiencies in the lending market. Coming up with innovative and convenient financial solutions while leveraging the blockchain, Nexo’s is gradually becoming a solution to projects’ or individuals’ financing needs in a new digital economy.

The first Airdrop campaign was completed in Feb 2018. By March they had finalized their token pre-sale. In April, they completed their main token sale, launched their operations, lending out USD with ETH and BTC as security and the token was listed in several exchanges. In May, the initialized the process of acquiring a FDIC insured US bank, offered Euro support in June and in July launched the Nexo Credit Card.

By Q3 2018, they had automated their KYC, offered support of several cryptocurrencies, launched a Nexo mobile wallet and introduced an affiliate program. By end year, they had increased their overdraft limits and issued their second air drop.

In Q1 2019, they finalized their acquisition of the FDIC insured US bank, launching depositing accounts in the process.

Partners

Nexo Partners and Membership

As a regulated financial institution, Nexo has several strategic partnerships. Through their deal with BitGo, deposits are secure. For KYC, AML and any form of compliance, Confiado ease the process. Meanwhile, their collaboration with Securitize “and the integration of the DS protocol allows for tokenized securities issued by Securitize to be staked as collateral for Nexo’s instant credit lines, proves an incredibly powerful utility to trillions of dollars’ worth of traditional assets. Besides, Nexo works closely with UCL CBT and TrueUSD, which is “money built for the new global financial system.”

Nexo is a member of several associations including the Enterprise Ethereum Alliance (EEA), the Bitcoin Foundation, Crypto Valley, Swiss Finance + Technology Association and Bitcoin Association Switzerland.

Token and Fund Distribution

Aforementioned, Nexo is based on the Ethereum platform and therefore its native token complies with the ERC-20 standard. According to Nexo, their native token, NEXO, would be used to retain loyal customers through multiple airdrop campaigns and to incentivize customers and supporters. Each NEXO token bears dividend-paying features. As a utility, there will be a discount for borrowers who repay loans in NEXO.

Nexo dividend Token

Even so, the token is traded as a restricted security following the application of Nexo to the SEC for exemption. For successful launching, the team needed $52.5 million, the hard cap, which they crowd funded in an initial coin offering that took place from Mar 6 to April 1 where KYC was mandatory and investors from China barred.

Nexo ICO Summarized

During the main token sale, each token retailed at $0.1. In total there were 525 million NEXO tokens available for investors. The 525 million translated to 52.5 percent of the total token generated fixed at 1 billion. Of this, 25 percent was set aside for Overdraft Funding Reserves, 11.25 for founders and vested quarterly, 6 percent for the community and Airdrop campaigns and 5.25 percent to meet the need of Advisors, Legal and general PR. BTC and ETH were the only accepted coins during the public sale.

Nexo Token distribution

Fund Distribution

Nexo Fund Distribution

From the collected funds, 80 percent will go towards crypto overdraft funding, 8 percent towards IT development, 7 percent to cater for operational expenses and 5 percent towards marketing and growth.

ROI and NEXO Performance

Nexo ROI and Price Performance

Available in several exchanges as HitBTC, Hotbit, Mercatox and Yobit, NEXO’s 12-month volatility is 125.82 percent. Its maximum draw down is 91.61 percent and it is 12 month ROI-from launch and trading is 26.29 percent.

However, the ICO ROI is -27.05 percent at spot prices. The token’s market cap is $40,849,737, trading $5,055,616 in 24 hours, adding 3.75 percent. There are 19,048 NEXO holders and there have been 152,611 transfers even though the coin is down 23.59 percent against ETH but up 93.88 percent against ETH in the last year.

Short term Price Catalysts

The success of any lending platform depends on its ability to deter hackers and keep customers’ deposit secure. Nexo has that covered. Through their partners as renowned SEC-approved custodian, BitGo and Confido, the platform can assure customers of their assets’ safety while keeping track of borrowers.

The second gauge has to the speed of approval and disbursement of loans. Because of automation made possible by smart contracts and the Nexo Oracle for LVT calculation, Nexo has been successful distributing over $700 million from their wide customer base exceeding 200k.

Nexo User Review

There is diversity. Nexo’s customers are global, spread over 200 jurisdictions from where over 45 currencies are supported. Cumulatively, there are over $1 billion instant loan requests placed on the platform.

Drawing from this, it is no surprise that they are planning to launch a mobile app for iOS and Android, and later a Credit Card for their European clientele to even better the customer experience. Last month, they added TRX as one of the supported digital asset customers can borrow instant loans from. Recently, they paid out $2.409 million as dividends for token holders from where each NEXO token drew $0.0033 as dividend. There was no withholding tax imposed.

Nexo Dividends Explained

On top of this, Nexo is working on Utilities 2.0 for the NEXO token. Upon finalization, the token will bring a plethora of new amazing utility features, drawing demand for the token with “better interest rates on all Nexo products Premium features and functionalities Nexo Card cashback.”

Long term Price Catalysts

The confidence for investors is from the quality of the Nexo team. Before diverging and settling on the blockchain, they played key roles in Credissimo. Likewise, the involvement of Michael Arrington, an influencer in the crypto world and the head of a hedge fund denominated in crypto is good news. That is perhaps the steam that keeps the team going.

At the time of writing this changing hands at $0.072250, but given the trend of the crypto lending market, projected to attract more users and even balloon to their trillions in coming years, Nexo investors will not only benefit from superior return on investment but from the low APR as they would be  categorized as loyal and incentivized better.

Nexo Trillion Market

Presently, their APR is 5.9 percent per year while lenders can earn the same interest rate on stable coins as TrueUSD, one of their partner, but plans to expand that to BTC, ETH and even XRP.

Further, their strategic partnership with Terra to expand the cryptocurrency market in South Korea, from where Nexo has a huge following will further cement Nexo as a leading crypto lending platform in the world. In their deal, the Zug-based crypto lending platform will accept Terra token deposit from the soon-to-be launched lending platform focusing on the SE Asia market.

Already, Nexo has a partnership with TrueUSD but the deal with Terra, a stable coin that incorporate algorithm to maintain the price of its token at a desired rate via another token, Luna, impressed Nexo’s executives.

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