- Nubank introduced the Nucoin token
- It is intended for bank customers and will not enter the secondary market.
- But the company will offer several ways to make money on Nucoin
Brazilian neo-bank Nubank released Nucoin utility token on the Polygon blockchain. The term “official” means that these coins will not be used for trading or purchases. Coins will not be able to be withdrawn outside the Nubank app and sold on the secondary market. However, the company will offer several options for earning.
As part of the issue, Nubank will issue 100 billion Nucoins. Of these, 80 billion are intended for end users – that is, for Nubank customers, and in the future – other companies that will become partners in the project. So far, the program only works in Brazil.
The Nubank app offers several options for what to do with tokens:
- Freeze coins and get staking rewards.
- Exchange tokens for lottery tickets. Now there is a drawing of prizes up to 1 million Brazilian reais.
- Exchange Nucoin with another bank customer for cash (this option will open later).
- Earn new coins through cashback programs.
Early Nubank customers will receive a free token drop. The rest will earn them through cashback, as part of a loyalty program, or in other ways.
Recall that one of Nubank’s investors is Warren Buffett, a legendary investor and ardent critic of cryptocurrencies. He invested $1.5 billion in shares of this bank.