As part of Nexonomics, Nexo's master plan to power up the value of their in-house token, Binance's BNB, has become the next cryptocurrency to join the "Earn on Crypto" party over at Nexo's. Supporting for BNB on Earn has been teased for a long time, with just a shy "Coming Soon" been there to show, but things have changed as of today.
Nexo's Twitter account (@NexoFinance) was the one to break the news a few days ago.
The BINANCE Coin addition reaches in conjunction with the raised base annual interest that nows seats at 5% (up from the previous 4%), and the renewed staking bonus that seats the rate you acquire at 6% now.
In a straightforward push to the NEXO token, BNB is also the first new coin to join the Earn In Crypto product, after the introduction of the Earn in NEXO option, that awards the user an extra 2% of annual interest.
As Nexo said in the blog post that accompanied the announcement: "by supporting each other’s tokens and products Binance and Nexo expand their reach, giving each other more weight in the crypto industry,"
Adding support for BNB now is just another phase of the partnership between the two companies that dates back to the Binance Smart Chain carrying on the NEXO token; perhaps this is Nexo's turn to return the favor.