HomeLatest NewsOptimism becomes the latest token to be listed on Nexo

Optimism becomes the latest token to be listed on Nexo

Hassan Maishera

nexo is set to list the Optimism (OP) token in a bid to allow its users to gain access to more cryptocurrencies.

Nexo, one of the leading cryptocurrency lending platforms in the world, has announced that the Optimism (OP) token is now available to its users. The platform said it is excited to make this token available to its users.

According to the press release shared with Coinjournal, Nexo said;

“A dose of optimism is the best remedy for bearish days. Knowing this, we’ve been eager to bring you the OP token. As of today, you can buy, exchange and borrow against OP on Nexo. So, whether you’re team “glass half full” or “glass half empty,” Optimism is here!”

Following this latest development, Nexo users can now purchase the OP token with a card in seconds and get up to 0.5% back. 

Users can swap OP on the Nexo Exchange, available in 6 pairs, use their OP as collateral and spend its value with the Nexo Card, and leverage their current portfolio and exchange up to 3x more OP.

Furthermore, on Nexo, users can borrow against their existing assets at just 0% APR to get cash or stablecoins. If they are into new tokens, they can use the newly acquired funds to buy Optimism tokens.

Optimism is a layer 2 scaling solution for Ethereum. The solution is powered by Optimistic rollups and functions by compressing large amounts of transactional data assumed to be valid until proven otherwise. 

The Optimism layer-2 solution supports mainnet dApps and is capable of executing smart contracts. The greater number of transactions the system can process helps scale the Ethereum network, with more users moving to the chain. 

Layer-2 solutions are becoming very important in the cryptocurrency space. With the upcoming Merge of the Ethereum network, Layer-2 solutions are looking to improve alongside it. 

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