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Ethereum Killer Solana (SOL) Joins Lending Platform Nexo

Ethereum Killer Solana News
  • Solana (SOL) joins with lending platform Nexo.
  • Users can now buy, swap, borrow against and earn up to 8% interest on their SOL.

Solana (SOL) joins with lending platform Nexo. Users can now buy, swap, borrow against and earn up to 8% interest on their SOL.

Solana is a high-speed, open-source blockchain platform for decentralized apps, supporting over 400 projects spanning DeFi, NFTs, Web3 and more. Solana uses a combined consensus mechanism based on Proof of Stake (PoS) and Proof of History (PoH).

Solana has recently drawn the attention of the crypto investors with a growth of nearly +8,800% in just a year. At the time of writing, the SOL price trades at $168.34 with a 24-hour trading volume of $3,100,962,252, according to CoinMarketCap.

On the other hand, Nexo is a blockchain-based lending platform that lets users receive Bitcoin (BTC), Ether (ETH), Litecoin (LTC), or Ripple (XRP) collateral to receive a loan in the form of fiat money or stablecoins.

Buy, Swap, Exchange, Borrow SOL on Nexo

Nexo lets users buy SOL instantly, safely, and effortlessly. Users don’t have to deal with complicated procedures or clunky user interfaces. To buy a Nexo product, users can simply add their bank information to the Nexo wallet.

SOL market pairs available on Nexo: SOL/BTC, SOL/ETH, SOL/USDT, SOL/USD, SOL/EUR, and SOL/GBP.

With Nexo, users can grow their savings rate safely with the highest yield on the market. In fact, users can get up to 8% interest, paid out daily on SOL with Nexo’s Earn Crypto Interest suite. Users’ passive income will start growing instantly as soon as they top up — they won’t need to do anything else.

With Instant Crypto Credit Lines™, users can borrow cash or stablecoins using their SOL as collateral from as little as 6.9% APR.

Users can borrow as little as $50 to $2 million whenever they want. All requests are always processed automatically within seconds, with no credit checks required. With no installation or minimum repayment requirements, users balance can be paid in full or in parts whenever they’d like

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Crypto trading has enticed Ananthi Reeta to write for CoinQuora. She consistently contributes news and feature articles. She has covered several different blockchain and crypto niches, especially altcoins.