TerraUSD (UST) Joins Nexo Exchange, Offers Double Yield Rewards

Republished By Plato

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TerraUSD (UST) launched on the Nexo exchange.
UST holders on the Nexo platform can enjoy double yield rewards.
UST can be exchanged for UST/USDT, UST/BTC, and more.

The flagship decentralized stablecoin of the Terra blockchain, TerraUSD (UST), launched on the Nexo exchange. This enables Nexo users to buy, convert and earn up to 20% APR with TerraUSD (UST). Furthermore, to celebrate the listing of UST on the Nexo platform, users can enjoy the double yield rewards until March 31, 2022.

In detail, the users holding UST can experience 8% and 13% interest rates which previously ranged between 4% to 8%. All interested investors can buy the token using a bank card and receive their tokens seamlessly in their wallets. However, for users that already have crypto assets in the exchange, UST can be exchanged for UST/USDT, UST/BTC, and six more.

After the promo event, holders of the UST token can still enjoy higher rates. However, it will now depend on the Nexo Loyalty tier. For example, Platinum: Маximum rate – 20%. Standard rate – 18%, Gold: Маximum rate – 17%. Standard rate – 16%, Silver: Маximum rate – 15.25% Standard rate – 15%, and Base: Маximum rate – 14%. Standard rate – 14%.

In terms of tax rates, getting UST in the Nexo platform will not trigger any taxable events imposed by different countries around the world. This means users from countries such as India, Spain, and the US to name a few, can enjoy tax free transactions. Truly, the UST-backed credit line from Nexo brings good benefits to all its users in the space.

On the other hand, TerraUSD (UST) is the Terra blockchain’s flagship decentralized and algorithmic stablecoin with $11B currently in circulation. Its value is pegged 1:1 to the US dollar, making it an ideal medium of exchange for DeFi and traditional finance. Unlike most other stablecoins, UST is not backed by dollars, but instead, $1.00 of its reserve currency LUNA must be burned in order to mint 1 UST.

Time Stamp: February 7, 2022