Updates on the $100M Buyback Program • Nexo

Nexo

On November 15, 2021, Nexo launched its second Buyback – a $100M token repurchase program also known as the Buyback 2.0. Along with our new repurchase scheme came our promise to provide superior transparency of the program’s progress through regular updates and breakdowns.

Today, we’re proud to bring you our very first Buyback update. The details below mark the headway we’ve made with our $100M program in the period between November 15 and December 8, 2021:

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  • Repurchased Tokens: 4,792,621.338 NEXO
  • Weighted Average Price: $2.7395
  • Amount Spent from the $100M Buyback: $13,067,394.58

How Frequently Does Nexo Repurchase Tokens?

Our team buys back tokens at various times and frequencies depending on the market and in compliance with our program’s framework. As buybacks are executed in smaller installments and on different days, our team will periodically add all repurchased tokens to the Investor Protection Reserve (IPR) at the following ERC-20 address: 0x1C433CBF4777e1f0dCe0374d79aaa8ecDC76B497.

What Happens to the Repurchased Tokens?

Repurchased tokens will be placed into vesting accounts for 12 months. After the 12-month vesting period, tokens bought via the Buyback scheme will be put towards investments in strategic targets via token mergers with applicable vesting schemes to ensure token holder interests, and daily interest payouts in NEXO Tokens.

As per our previous commitment, all tokens used for interest payouts in NEXO Tokens are sourced from the open market and, therefore, will NOT impact the circulating supply.

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