Is it correct that Nexo will not allow their own token to be used as collateral for crypto-backed loans?
Not true. However, LTV has retreated to about 15% and NEXO token can only be used to repay interest. At least here to date in the USA.
that means if nexo token still can't be used as collateral and i think it's not the same as collateral. It just like utility usage of token itself in the platform.
Just curious, do i need to give collateral before i can request the loan? how it works. im interesting on it.
Yes, if you stake BTC or ETH LTV is 50% or better, TUSD & USDT even better LTV is 90% and up.