Nexo Added ApeCoin To Its Yield Platform: Report

Nexo added Apecoin to its yield platform and in the announcement, it said that it offered up to 12% ROI so let’s read more in today’s latest altcoin news.

The crypto company offering loans and daily digital asset earnings Nexo added Apecoin into the platform and the company promised an ROI of 7-12% per year depending on the customers’ loyalty tier. The press release read that Nexo wants to capitalize on Yuga Labs’ plans by introducing the recently launched crypto to the yield platform. Depending ont the loyalty  tier, the users will be able to get up to 12% ROI on the APE amounts that they deposited on Nexo with the rates being set as follows:

Base-maximum rate 8%, Standard rate 7%

Silver- Maximum rate 8.75%, Standard 7.5%

Gold- Maximum rate 10%, Standard rate 8%

Platinum- Maximum Rate 12%, Standard 9%.

Apecoin is available on Nexo and users can buy, earn or swap as well as borrow against it. Upon buying an asset, the company promised to give up to 0.5% cashback on each transaction and said it will not charge any fees when transferring APE to the NEXO platform. Nexo enabled sixth trading pair for APE like USDT, USDC, BTC, USDx, EURx, and GPBx.

The Bored ape Yacht Club became the most popular NFT collection with plenty of celebrities purchasing these collectibles and placing them as their Twitter profile pictures. Some of the celebrities that purchased a BAYC NFT include Eminem, Serena Williams, Neymar, Madonna, and Justin Bieber. All of the examples were sold for thousands of dollars worth of ETH with the floor price now being set at 106.5 ETH. Snoop Dogg went even further and launched Bored Ape-themed music as NFTs after collaborating with fellow rapper Wiz Khalifa.

Yuga Labs is the team behind the project and decided to launch native crypto recently which attracted even more people with a certain portion of the total supply being airdropped to the BACY holders. With a price tag of $15, Apecoin found a place in the past 100 coins by market cap and was listed on multiple exchanges like Binance but the latest Nexo integration shows the growth is only getting bigger.

As recently reported, The interest in web3 continues to increase with more companies racing to invest in the new best thing. Nexo is a well-known crypto participant and it is the latest to jump on the bandwagon. Nexo is also regulated among other digital service providers and it revealed that they will be launching a fund that will invest in Web3 projects. The initiative is called Nexo ventures and was launched with an initial goal of $150 million.