Crypto lending protocol Nexo is distributing 10 million NEXO tokens to its users. The value of these tokens is $12.5 million at the time of publication. "Stack points, multiply your earnings, and unlock more surprises," Nexo developers said on May 8, marking the protocol's sixth anniversary.

Until July 7, Nexo users can earn 0.01 points per asset top-up, 10 points per Nexo Card activation, 0.04 points per fiat borrowing through the Nexo protocol, 0.03 points per investment in Nexo Earn products, and 0.05 points per leveraged trade on Nexo Exchange. . The points-NEXO token conversion rate will be determined at the end of the event.

The developers also said, "Note that certain actions may reduce your point balance," adding, "For example, withdrawing your crypto assets from your Nexo account will result in a loss of 0.01 points for every $1 withdrawn. Withdrawing BTC will result in a loss of 0.001 points for every $1 withdrawn."

Depending on users' activity, they can receive multipliers between 1.2x and 1.5x on earned points and loyalty rewards of up to 100% of the point value. The Nexo team presented the following example:

"For example, you haven't funded your account yet and you want to buy $2,000 of BTC in the first week of the hunt. In this case, you will receive 450 points (2,000 purchase value x 0.03 points per $1 purchase x 1.5 Weekly Multiplier x 5 New User Multiplier)."

Due to regulatory restrictions, citizens and residents of the US, UK and Canada cannot participate in the campaign.

Since its launch six years ago, the popular decentralized finance lending platform has attracted a total of $537.56 million in value (TVL). On March 6, the platform received UAE regulatory approval for its local entity Nexo Services FZE for virtual asset lending and borrowing.

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