Who is the interested party for this collateral application?
Provide a brief high-level overview of the project, with a focus on the applying collateral token.
Nexo.io is a product that provides crypto-backed loans. Nexo.io was launched in 2017. It allows users to deposit crypto assets into custodial accounts to either gain access to yield on those crypto assets or access to credit lines. Nexo accepts a variety of different crypto assets for usage as loan collateral including ETH, BTC, DAI, USDC, as well as many others.
The nexo erc20 token can be used on the platform through staking to gain access to various features. Staking allows users to: receive discounted interest rates for their crypto loans, higher yield on deposited assets, and allows them to receive dividend distributions from the nexo platform.
Provide a brief history of the project.
Previously stated launched in 2017. Nexo provides users with access to collateralized USD loans by providing crypto assets as collateral.
Link the whitepaper, documentation portals, and source code for the system(s) that interact with the proposed collateral, and all relevant Ethereum addresses. If the system is complex, schematic(s) are especially appreciated.
Link any available audits of the project. Both procedural and smart contract focused audits.
Link to any active communities relating to your project.
How is the applying collateral type currently used?
Briefly explained in project overview but the nexo token to is primarily used to gain benefits on nexo.io through staking.
Does one organization bear legal responsibility for the collateral? What jurisdiction does that organization reside in?
Unclear to me. The token seems to be the work of a company called Credissimo which seems to have some presence in a few European countries.
Where does exchange for the asset occur?
Exchanged across a few different DEXs and CEXs including uniswap and Huobi