understand why you recently increased Fiat interest rates..
My understanding was that you mainly make money by providing loans to your customers, but how can you charge max 13.9% and pay 16%??
This makes me worried to be honest unless you will start being more transparent on how you make money by disclosing P&L, balance sheet and cashflows..
Thanks
M
I do understand your concern but please do keep in mind that Nexo has several platforms such as the OTC desk, NexoPro and Nexo wallet which are all profitable on their own. The decision to increase our earn rates on some assets is completely planned and thought of ahead of time and as always Nexo continues to exercise its number one priority : maintaining a long-lasting and profitable business, while innovating and keeping our customers happy. I'm sure you will receive a thorough reply to your email as well but thanks for sharing your thoughts here as well, we do really appreciate them and I will let the relevant teams know about these concerns!
More transparency would be the way forward..
Completely agree and we are truly trying to be as transparent as possible without actually harming our business, which you can hopefully understand that can be tricky. Being the first crypto platform to do daily attestations and sharing our business model was not an easy task but we are always indulgent to push to boundaries when it comes to transparency. I can confirm that we are actively working on more and more ways to increase that transparency and will do so.
I think alot of people actually uses nexo as payout method. Nexo is something which as a company they got for free. So they might be burning that.
Btw the great @gimmesums just replied.. now im not sure anymore if @gimmesums is Matthew Hanna..
Can you please confirm that MH is @gimmesums ??
I'm not completely sure what you mean by "Nexo's something which as a company they got for free" but if I'm understanding correctly, you are wrong - Nexo was definitely not free - what Nexo is today is a culmination of more than 20 years of experience in the field and even more years in worktime of 500+ people.
I didn't understand it either..
I cannot confirm that MH is @gimmesums but I will confirm once again that only the people with "admin" tag after their names should be trusted in this groupchat. Admins will never DM you as well. If @gimmesums is suggesting that he/she is an admin via a DM, that would be a lie.
You mean exposing their confidential stuff, the know-how? How do they distribute funds?
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