Regulated digital assets institution Nexo has listed the Ape Coin [APE] in its platform for exchange and utility.
APE is available on Nexo for exchange, buying, top-up, and borrowing.
Recently the APE has been listed among the Nexo Earn Interest Products which will allow APE holders to gain up to 12% interest on their holdings.
With this integration, Nexo has become the first Yield-Earning Platform for the APE holders.
About Nexo and Assets Protection
As stated on the website, Nexo offers instant crypto loans, daily earnings on assets, and exchange opportunities to its registered and verified members.
It is the only Blockchain company to provide its services in 40+ fiat currencies and more than 200 jurisdictions.
The digital asset holders get instant access to cash and high-yielding interest on their idle assets. It is qualified and audited by Armanino and Goldman Sachs-backed Bitgo.
The digital assets are stored and protected in individually assigned multi-signature custodial wallets in cold storage ledger vaults as in military-grade Class III.
Nexo has $375,000,000 insurance on the custodial assets.
The Nexo Schemes for APE
The initial promotional offer of 12% interest on APE started from 16:00 UTC, March 29, 2022, and will end at 23:59 UTC, April 2022.
Following this period, APE holders will get interest at conventional rates determined by their loyalty tiers, plans chosen, and whether they want their interest paid in Nexo Tokens or other currency.
Receiving interests in Nexo Tokens will yield higher profits. There are two existing plans, The Fixed-term and the Flex term.
The fixed-term allows holders to lock their holdings for a period of 1 or 3 months, extendable up to 10 times after the contract end.
The Flex term allows the holders to liquidate or withdraw their holdings anytime they wish. The Fixed-Term provides higher interest rates than the Flex scheme.
The yield earnings for the different loyalty tiers are as follows:
Platinum: Maximum rate – 12%. Standard rate – 9%.
Gold: Maximum rate – 10%. Standard rate – 8%.
Silver: Maximum rate – 9%. Standard rate – 7.5%.
Base: Maximum rate – 8%. Standard rate – 7%.
Apart from the above-mentioned, there are some extra beneficial features provided by Nexo to the APE holders in their platform.
For buying APE, there’s 0.5% cashback on each transaction [the Platinum members receive the max]
6 pairs of swap are available: APE/BTC, APE/USDT, APE/USDC, APE/USDx, APE/EURx, APE/GBPx
Borrowing against APE at rates as low as 0% APR
Boost leverage and buy 3x more APE.
Borrowing against the Bored Ape Yacht Club NFTs
The creators of the APE are also the creators of the famous Bored Ape Yacht Club NFTs.
The big name behind this successful Ape community is the Yuga Labs LLC which created the Bored Ape Yacht Club, Mutant Ape Yacht Club, and the Bored Ape Kennel Club NFTs.
It brought in more than 145,000% returns to the initial acquirers; the CryptoPunks and MeeBits NFTs are also acquired by the Yuga Labs.
Nexo allows up to 20% loan against these Bored Ape or CryptoPunk NFTs if the price of the NFT exceeds the value of $500,000.
Pop Star Madonna recently bought a Bored Ape NFT at a price of over $571,000 which proves the Yuga Lab’s NFTs are really some of the best in the NFT markets.
As the Yuga Labs is growing enormously with the NFTs and the Ape Coin, it is about to begin an interoperable GameFi Metaverse called the MetaRGP where the native currency will be the Ape Coin.
Nexo also got involved with these famous names as the crypto exchanges like Coinbase, Binance, Gemini, Huobi, and Kraken.
A major factor for this is the demand and popularity of the Ape NFTs and the Ape Coin among the Venture Capitalists, celebrities, and crypto enthusiasts.