Latest news this morning from Nexo is that Dividends for NEXO token holders might be discontinues in favor of Daily Interest for holding NEXO in your Nexo Savings and Credit wallets.

What's going on?

Nexo announced this morning that it is considering DROPPING it's famously misterious Dividends in favor of the well known and loved daily interest, which you already get for every other crypto you store in Nexo.

Furthermore, it is making this a Governance Vote, which allows NEXO token holders to vote FOR or AGAINST this change.

What does this mean for you?

If you own NEXO tokens and store them in the Nexo wallet, you will receive extra Nexo tokens as Dividends, which are part of Nexo's profit as a company. Thirty percent of Nexo's profits are allocated towards paying dividends to token holders.

This change would remove that allocation from the game. Instead, all Nexo's profits would go to Nexo. But, in contrast, Nexo's profits would reduce because they will be paying out daily interest to NEXO token holders. 

Effectively, this change might benefit us Nexo users, as it removes the 30% cap on how much we can earn from holding NEXO. 

On the other hand, it allows Nexo to decide what interest rate they want to give users for holding NEXO. This implies that NEXO holders could come out worse in the end, earning less than 30% of Nexo's profits as a whole. 

How can you vote?

If you have an opinion on this change and you are a NEXO token holder, you can use your governance vote to help decide if this change should happen or not. 

You can cast your vote by using the Nexo platform, either via the smartphone app, or the web browser interface. 

Where can you learn more?

Check out the official announcement, which contains a lot more details, here:

https://nexo.io/blog/governance-proposal-daily-interest-on-nexo-and-a-final-dividend