Nexo
$0.17119 3.13%
NEXO · 3w

Borrowing at 5.9% clarification

Looking into taking out a loan next month and want the 5.9% rate. Most of the documentation I find when searching from reddit post on 5.9%, are dated back to February. Is this still applicable today: “In order to receive the full 50% Credit Line Interest Discount, clients must stake enough NEXO Tokens in their Nexo Wallet to cover the interest for the entire period from the moment of withdrawing funds from the credit line up to their desired moment of repayment.” If yes, and you are still reading, please help a slow-witted person. If I have 1 bitcoin worth ~10k usd and want a loan of a 1000 usdt. I would need to have $119 worth of nexo in my account for a 5.9% rate. Correct?
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