Cryptocurrency platform Nexo has just announced that it is listing MATIC, the Polygon project native token.
Per the press release we have seen, the users of the platform will now be able to buy, swap, borrow against and earn high interest on their MATIC. Users can now buy MATIC on Nexo and receive it in their wallets in the blink of an eye (a matter of seconds). As far as borrow is concerned, users can now borrow cash or stablecoins using their MATIC as collateral at rates starting from just 6.9% APR.
According to the company, the available pairs for purchasing MATIC are: MATIC/ETH, MATIC/BTC, MATIC/BNB, MATIC/USDT, MATIC/USDC, MATIC/EUR, MATIC/GBP and MATIC/USD.
In addition, they will get up to 20% interest on MATIC, which according to the platform, will be paid out on a daily basis with their current promo and can keep earning high yields in the long run. This promo runs until January 3. It is worth mentioning that users can also exchange MATIC on the Nexo Exchange instantly and borrow against MATIC at rates as low as 6.9% APR. On top of that, there’s also a cashback promo available that allows users to get even more money.
However, Nexo has reported that its clients will only be able to add MATIC to their Nexo Wallets if they purchase the assets through the Nexo Exchange. MATIC top-ups and withdrawals will be made available to the platform users in the near future as the project’s team is already working on this feature.
Why Did Nexo Decide to List MATIC?
There are many reasons why a platform would be interested in listing MATIC, Polygon’s native token. Among those, we find the fact that Polygon is one of the prime chains for minting NFTs and considering Nexo’s mission to expand its offering into the metaverse, use NFTs full potential and create financial services for this new asset class, Polygon is a great addition.