- Nexo, a regulated digital assets institution, offers MATIC holders 20% APR as a promotional campaign welcoming the Polygon network.
- In addition to lending initiatives, Polygon is one of the prime chains for minting NFTs and expanding Nexo’s offerings in the metaverse.
- Polygon network is among the top protocols that successfully onboarded the highest number of new users over the past eight weeks.
Nexo finance announces Polygon’s arrival on its platform. Investors can now earn 20% APR on MATIC as part of Nexo’s promotional campaign.
MATIC arrives on Nexo finance offering higher returns to investors
Polygon network is now on Nexo finance, offering holders and investors higher returns on the DeFi platform. The regulated crypto assets provider offers 150 market pairs to users. Users can now buy, swap and borrow against MATIC.
The ongoing promotional offer gives users 20% interest and distributes daily. With the rising importance of multi-chain networks, activity on the Polygon network is on the rise. Nexo’s team is engaging with the Polygon network for various initiatives.
Polygon network will help Nexo expand their offerings through NFTs, helping the DeFi protocol get into the metaverse. NFTs have high potential as a new asset class; Polygon’s blockchain network offers Nexo an opportunity to offer metaverse products.
Users that purchase MATIC on Nexo’s exchange can earn 20% interest and grow their passive income till the promotional offer lasts (Jan 3, 2022).
Polygon network has reached out to enterprise projects looking for sovereignty, their own blockchain and don’t want to derive security from Ethereum’s scaling solutions. Mihailo Bjelic, co-founder of Polygon network, tweeted:
We're in touch with a lot of projects (many of them from the enterprise world, but not all) who want sovereignty, i.e. their own chain/L1, and simply do not want/need to derive security from Eth L1.
— Mihailo Bjelic (@MihailoBjelic) November 24, 2021
This is a realistic and big use case that we're addressing with Polygon SDK.
Analysts have evaluated MATIC price trends and predicted a trend reversal. @Koolaid_crypto, a cryptocurrency analyst, believes that MATIC price is testing old resistance and is likely to breach resistance in the coming days.
$MATIC testing old resistance. The 0.618 fib is above the downward sloping trend line so we may see a breach of resistance in the coming days. #MATIC #MATICusdt pic.twitter.com/Hq0kVZryoM
— Crypto Koolaid (@Koolaid_crypto) November 24, 2021
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
Trump-inspired memecoin MAGA shows bullish on-chain metrics ahead of US elections
MAGA trades slightly down to around $3.4 on Tuesday after rallying more than 20% since Sunday. The former President Donald Trump-based memecoin is poised for further gains as daily active addresses and network growth metrics rise, signaling increased network usage and adoption.
Bitcoin ETFs beat Gold ETFs with 65% gain since launch
Bitcoin ETFs have reshaped the digital asset investment landscape since their approval in January. Their total assets under management climbed over $70 billion during the weekend, placing them ahead of other investment products, including gold.
XRP eyes 10% rally amid relisting across crypto exchanges and growing institutional demand
Ripple's XRP is trading at $0.5050 up slightly by 0.2% in the past 24 hours as it struggles to sustain a move above a key symmetry triangle resistance. Meanwhile, in its recently released Q3 report, Ripple noted the rising listing and relisting of XRP across crypto exchanges and global platforms.
Ethereum Price Forecast: ETH struggles below $2,500 amid State of Michigan pension fund investment in ETH ETF
Ethereum is trading near $2,420, down about 1% on Monday, but could bounce off a key descending trendline close to the $2,258 historically high demand zone. Meanwhile, the State of Michigan pension fund revealed an investment of $11 million in ETH exchange-traded funds.
Bitcoin: New all-time high at $78,900 looks feasible
Bitcoin price declines over 2% this week, but the bounce from a key technical level on the weekly chart signals chances of hitting a new all-time high in the short term. US spot Bitcoin ETFs posted $596 million in inflows until Thursday despite the increased profit-taking activity.
Best Forex Brokers with Low Spreads
VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.