Updates on the $100M Buyback Program

On November 15, 2021, Nexo launched its second Buyback – a $100M token repurchase program also known as the Buyback 2.0. Along with our new repurchase scheme came our promise to provide superior transparency of the $100M Buyback's progress through regular updates. All monthly reports for the program can be found below:

April Update

We’re at the final stretch of our $100M Buyback program. Below is your monthly update:

• Repurchased Tokens from Mar 3 to April 7: 8,582,669.11 NEXO
• Amount Spent from the $100M Buyback from Mar 3 to April 7: $19,125,012.13
• Total Repurchased Tokens: 34,387,178.5 NEXO
• Total Amount Spent from the $100M Buyback: $77,789,732.06
• Weighted Average Price to Date: $2.2908

March Update

Over the last month, the Buyback 2.0 hit a big milestone: we made it more than halfway through the $100M program. Here’s our progress:

• Repurchased Tokens from Feb 4 to Mar 2: 7,265,463.96 NEXO
• Amount Spent from the $100M Buyback from Feb 4 to Mar 2: $15,300,109.05
• Total Repurchased Tokens: 25,804,509.39 NEXO
• Total Amount Spent from the $100M Buyback: $58,664,719.93
• Weighted Average Price to Date: $2.3067

February Update

We’re back with the latest news on repurchases made as part of the $100M Buyback program throughout January 2022:

• Repurchased Tokens from Jan 7 to Feb 3: 7,348,029.59 NEXO
• Amount Spent from the $100M Buyback from Jan 7 to Feb 3: $15,310,891.45
• Total Repurchased Tokens: 18,539,045.430 NEXO
• Total Amount Spent from the $100M Buyback: $43,364,610.88
• Weighted Average Price to Date: $2.3770

January Update

Here’s how far into the Buyback 2.0 we’ve come from December 9, 2021 to January 7, 2022:

• Repurchased Tokens from Dec 9 to Jan 7: 6,398,394.50 NEXO
• Amount Spent from the $100M Buyback from Dec 9 to Jan 7: $14,986,324.85
• Total Repurchased Tokens: 11,191,015.840 NEXO
• Total Amount Spent from the $100M Buyback: $28,053,719.43
• Weighted Average Price to Date: $2.5295

December Update

The details below mark the headway we’ve made with our $100M program in the period between November 15 and December 8, 2021:

• Repurchased Tokens: 4,792,621.338 NEXO
• Amount Spent from the $100M Buyback: $13,067,394.58
• Weighted Average Price to Date: $2.7395

How Frequently Does Nexo Repurchase Tokens?

Our team buys back tokens at various times and frequencies depending on the market and in compliance with our program's framework. As buybacks are executed in smaller installments and on different days, our team will periodically add all repurchased tokens to the Investor Protection Reserve (IPR) at the following ERC-20 address: 0x1C433CBF4777e1f0dCe0374d79aaa8ecDC76B497.

What Happens to the Repurchased Tokens?

Repurchased tokens will be placed into vesting accounts for 12 months. After the 12-month vesting period, tokens bought via the Buyback scheme will be put towards investments in strategic targets via token mergers with applicable vesting schemes to ensure token holder interests, and daily interest payouts in NEXO Tokens.

As per our previous commitment, all tokens used for interest payouts in NEXO Tokens are sourced from the open market and, therefore, will NOT impact the circulating supply.