Brazil’s Digital Bank Nubank Introduces Metrics Panel for Nucoin Ecosystem

Nubank (NYSE:NU), which claims to be one of the largest digital financial services platforms in the world, announces the launch of a metrics panel, also known as a block explorer, for Nucoin.

The focus is to provide transparency “to the information related to the digital currency, based on its own blockchain protocol and developed to serve as a utility token within an innovative loyalty program in Latin America.”

With this first version of the Nucoin Explorer, Nucoin users will “have access to a panel with real-time public and secure information about key indicators.”

Among them, general data is presented, which “includes information about the use of Nucoin, such as the number of wallets and transactions; trading data, such as price and liquidity; and economic and tokenization data, such as the quantity of Nucoins already committed in each one the reserves detailed in the litepaper.”

The volume of information “available on the platform should gradually evolve as new versions are released.”

Fernando Czapski, General Manager of Nucoin, said:

“The Nucoin Explorer is another stage of the evolution of the program, ensuring more transparency to the loyalty program users, who are the true owners of Nucoin and can monitor the program’s operation in a way never done in the loyalty market.” 

In constant evolution, the platform should “receive new functionalities over time.”

Announced at the end of 2022, the Nucoin ecosystem was “developed through a decentralized creative process, gathering contributions from key members of the NuCommunity and experts in digital currencies. As of March 2023, it has been gradually offered to Nubank customers in Brazil. The company is the first sponsor of the protocol and, due to that, offers Nucoins and benefits to token owners through the proprietary app.”

Remaining faithful to Nubank’s philosophy of customer-centric decision-making, the Nucoin ecosystem puts users “at the center, giving them the power to make decisions about managing the received tokens.”

Customers have the option to freeze their Nucoins “to level up in the program and unlock more benefits (such as receiving more Nucoins back and/or tickets to enter prize draws), or exchange their Nucoins for cash with the Nucoin Liquidity Pool. Over time, customers who freeze their Nucoins will have more benefits available, both within the Nubank platform and with external partners who join the loyalty network.”

Earning rewards

For Nubank customers in Brazil, earning rewards “using Nucoin is a straightforward process within the app.” Through it, customers can:

  • Receive an initial airdrop: every customer who joins the program earns free Nucoins as recognition of their historic with Nubank;
  • Buy and sell Nucoins through Nubank’s app;
  • Nucoin cashback: customers at Level 2 or above in the program receive a fixed amount of
  • Nucoins for every real spent with Nubank debit and/or credit cards, as well as the purchase of any available cryptocurrency in the Nubank Crypto experience in the app.

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