Nexo proposed a final acquisition plan for Vauld, no longer requiring creditors to convert their account balances into Nexo tokens

ChainCatcher news, according to The Block, Nexo has proposed a final acquisition proposal for Vauld in an open letter, with changes related to performance indicators (KPI) concerning user withdrawals. The previous proposal required users to have at least 2 times their account balance in turnover or a minimum transaction amount of $10,000 to withdraw funds. The final proposal has changed to require at least 5 times the account balance in turnover, with no minimum transaction amount.

Additionally, Vauld creditors were previously required to convert at least 20% of their account balance into Nexo tokens and lock them in a fixed deposit of at least $1,000 for a minimum of 12 months. The final proposal has no minimum deposit size.

It is reported that Nexo managing partner Kalin Metodiev previously denied reports that negotiations for the potential acquisition of the competing crypto lending platform Vauld had been terminated. The open letter also accused Vauld's financial advisor Kroll of distorting and manipulating Nexo's previous proposals when submitting to creditors. (The Block)