I am pro interest on token but will still Vote No, please read
This is a token that does not give you any control or ownership over the company but gives you the right to 30% of the profits generated by Nexo. Now I use “right” very loosely here since there is no, please correct me if I’m wrong, legal agreement supporting this. But to my knowledge, not a legal expert, this does not leave investors totally without recourse since Nexo have clearly stated “NEXO Token holders have the right to receive 30% dividends from Nexo’s profits.” And the EU gives its consumers and investors a level of protection against companies that do something contrary to what they have publicly stated they will do (no matter what they might of hidden away in some document), unless they have waived their rights by signing an agreement saying they are professional investors.
I would gladly switch the to the new model if it was based on the 30% cut of profits. But if you vote yes you kind of remove the only piece of security you have and that’s just stupid. Since they can then start lowering the yield and just say hey this is what the holders wanted.
I’m not saying they are doing this intentional to remove/weaken the tiny amount of protection token holders have. I’m saying why would you waive your rights away for so little.
At a bare minimum the proposed new model should still retain the connection to 30% cut of profits or it should be 7%, 9% and 12% and any change to that should require a new vote.