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The first Nexo community vote (governance vote) is just over...

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@unbiasedwriter
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A few days ago, I wrote about the upcoming Nexo governance vote in which the community members could vote about whether they wanted to change the model for paying dividends to the Nexo token holders on the Nexo platform. The vote lasted for 24 hours, and it required a people with a total of more than 300,000,000 Nexo tokens on the platform to vote in order for the vote to be accepted.

In the end, more than 330,000,000 votes were placed (1 Nexo token = 1 vote), and it was a big majority who supported the suggestion that Nexo should pay dividends based on the Nexo token on a daily basis, and not continue their dividends payout on an annual basis (like it has been until now).

Since the suggestion was accepted, the stored up dividends that people should have received for the last year will be paid out on June 16th, based on a snapshot that was made 1 second after the vote was finished yesterday. In other words, if you had Nexo tokens in your Nexo wallet yesterday at 12:01 UTC time, then you should receive some Nexo tokens on June 16th paid as dividends.

To be honest, I consider this to be a way better solution. With the annual dividend solution, people could sell a lot after the dividend payout, and then just buy up before a new snapshot would be made. It was a kind of pump and dump scheme. But with the new solution, you will receive daily payouts of Nexo tokens based on your current Nexo stake. In fact, I just visited the platform, and I noticed that I have received a very little portion of Nexo tokens already on the first day in the new system.

How many Nexo tokens will I get at the dividends payout?

And of course, I am curious to see what the dividend payout will be like. But, based on my math, there should be somewhere around 500,000,000 Nexo tokens in total on the platform, and the dividend payout should be around 20,000,0000, which means 10,000,000 Nexo tokens. If you do the match, it means that you will receive 1 Nexo token per 50 tokens that you have... something like that. So, if you have 1000 Nexo tokens, you might receive somewhere around 20 tokens (I believe). To be honest, it will most likely be lower, because there are more tokens out there, but I am not completely sure about the details!

All in all, I am very satisfied with the governance vote, and also to see that the users where active and actually did vote.


Did you take part in the vote? Are you satisfied? I would love to hear your thoughts as well!