Hi, when you do a fixed term of a coin

for 1 month. The nexo you get is released at the end of the term right? only flex terms give you rewards daily right?

Our company is built with sustainability in mind. Since our establishment in 2018, we have withstood the harshest crypto environments and have not had to resort to measures, such as limiting withdrawals, seeking a revolving line of credit, or funding from investors, like other exchanges, to meet client obligations. Nexo’s business model requires an over-collateralization of 111%-666% for all Instant Crypto Credit Lines. While we may tend to pay lower yields than our competitors, we make sure not to expose our clients to any risk.

Dear Nexo, I have been a happy Nexo customer for several years. One of the main reasons I chose to place the majority of my earn assets at Nexo over now vanishing Celsius, Blockfi, Genesis, etc. was because of Nexo's stated commitment to over collateralization. However, now given the malpractice and/or fraud & malfeasance of so many centralized entities, I wonder if I can responsibly trust public statements anymore. Nexo's realtime attestation is appreciated, pioneering and commendable, but it is not sufficient. To continue in the Earn program, i think I will need some kind of visibility into your loan book (similar to what public companies are required to report in some jurisdictions); or better, some kind of proof of collateral, or at a minimum proof of *no* non or under collateralized loans. Public statements, even from reputable companies, are just not believable anymore. What plans does Nexo have for expanding transparency beyond its realtime attestation ?

Team is aware of clients concerns and rightly so due to recent events. They are committed to increase transparency, but no exact details are shared how they will achieve it.

OK. Please pass my comments to your team. Thanks and keep setting the standards and the bar high.

I am not team member ☺️ Just sharing what team shared. I’m sure admins will read your message and pass feedback 👍

Hi, the proof you are looking for is actually expressed in Armanino's attestation for Nexo. Apart from everything, it illustrates whether all loans are fully collateralized. On a personal note, please bear in mind that Nexo has never and will never provide a loan without the necessary collateral.

With this said, rest assured that I will pass your feedback over to the respective experts, and we will consider it when discussing future transparency means, providing access to our books, etc. Note that, however, one of the reasons our company is not rushing with providing all internal information based on the fact that once we do, there is no turning back, and its self evident how many individuals and/or companies will want to take advantage of this information in a bad manner. A.k.a misuse of information. Not rushing in the current environment also protects our clients as. For example, if Nexo has 70% of its inventory in ETH because our clients mainly collateralize with ETH (which is not true, and is only an example), and someone with bad intentions and a lot of buying power knows this, pushing the ETH price to extreme lows will force automatic partial loan repayments, and this will be caused only due to FUD + our desire to be transparent. This is one of the many reasons why we are not emotionally rushing to address all concerns, but we are constantly providing bits of information to the public.

Thanks for the response and the example. This makes sense and agree that transparency needs to be done in a thoughtful way that meets the goal of building Nexo/client trust, while keeping secure. That said, i think we will definitely need more than the current attestation, which again I applaud as a good, even ambitious, version 1 release of automated transparency. So looking forward to version 2. One thing about the current attestation that puzzles me (and actually even makes me a bit uneasy) is that the key Collateral Ratio is only 100% +. Given what i remember of Nexo's collateral ratios, I would have expected the minimum attestation Collateral Ratio to be somewhere in the range of 125% - 150%. Why is the attestation Collateral Ratio bar set so low at 100%+?

Why is the attestation Collateral Ratio bar set so low at 100%+? - this is based on the fact that, technically, anything above 100.00% should not be possible, as the 100th percentile already represents the entirety of something. In any case, I do fully understand your point, as the extra threshold of collateral we have in reality is not reflected there. I will also include this in your feedback note. Thank you so much!

Just to add, Armanino were one of the parties responsible for Ftxs "audit". A real time attestation doesn't exactly inspier confidence

Is it tue ?