Nexo is set to list the Optimism (OP) token to allow its users to gain access to more cryptocurrencies.
Nexo, one of the world’s leading cryptocurrency lending platforms, has announced that the Optimism (OP) token is now available to its users. The platform said that it is excited to make this token available to its users.
According to a press release shared with CoinJournal, Nexo said;
“A dose of optimism is the best remedy for a bearish day. Knowing this, we look forward to bringing you OP Token. As of today, you can buy, exchange and borrow against OP on Nexo. So, regardless Whether you are the “glass half full” or “glass half empty” team, optimism is here!
Following this latest development, Nexo users can now buy OP tokens with a single card in seconds and get up to 0.5% back.
Users can swap OPs on the Nexo exchange, available in 6 pairs, use their OPs as collateral and spend the value of it with the Nexo Card, and leverage their current portfolio up to 3x Can exchange more OP.
Furthermore, on Nexo, users can borrow against their existing assets at just 0% APR to receive cash or stablecoins. If they are in the new token, they can use the newly earned money to buy the Optimism token.
Optimism is a layer 2 scaling solution for Ethereum. The solution is powered by optimistic rollups and works by compressing large amounts of transactional data, until proven otherwise.
The Optimism layer-2 solution supports mainnet dApps and is capable of executing smart contracts. The greater number of transactions that the system can process helps the Ethereum network to scale, and more users go up the chain.
Layer-2 solutions are becoming increasingly important in the cryptocurrency space. With the upcoming merger of the Ethereum network, layer-2 solutions are looking to improve with it.