Uwerx (WERX) Maintains Success As SEC Proceeds Against Nexo (NEXO) And LBRY Credits (LBC)

June 16, 2023
4 min read

Get into the Uwerx (WERX) presale for maximum benefits. Learn why investors and analysts are optimistic about its performance.

In the wake of intensified regulatory scrutiny of cryptocurrencies, both investors and players are abandoning Nexo (NEXO) and LBRY Credits (LBC) in large numbers as they seek alternative protocols that offer more lucrative opportunities for financial gains.

Meanwhile, Uwerx continues to garner more attention due to its highly successful presale, positioning it as one of the most promising projects in the market. Learn how this upcoming project is maintaining success, as well as the current positions of Nexo (NEXO) and LBRY Credits (LBC) amid legal woes.

  How Uwerx (WERX) Maintains Its Presale Success 

According to the blog, Exploding Topics, 2.9 million Americans joined freelancing in 2023, raising the number to about 73.3 million freelancers. This growth signifies a  growing interest in the gig economy. Investors can monetize this growing trend by joining the Uwerx presale.

Uwerx is an upcoming blockchain-based project that will build a more productive environment for freelancing while offering innovative features. Its presale is currently in its 5th stage and selling fast. It already boasts 5,546 signups, 1,647 Twitter followers, and 1,736 followers on Telegram. Meanwhile, its WERX token is now selling for $0.041.

Due to the rising demand for its presale, the Uwerx team increased the presale token allocation to 57% (427,500,000 tokens) of the total token supply of 750 million. It also reduced the team's token allocation from 8% to 7% to maximize user benefits.

Uwerx has also taken measures to solidify its credibility and guarantee a secure atmosphere for investors and users. It was audited by InterFi Network and SolidProof long before its presale began. Its team of developers will forfeit all smart contract ownership after listing WERX on centralized exchanges. Another security guarantee is that Uwerx has implemented a 9-month seal of developers' tokens, which occurred on Wednesday, June 7. This action was supported by 82.8% of the community and will limit any fraudulent behavior in the protocol.

Furthermore, Uwerx developers have released the Alpha version of the protocol. It already features a Landing page, Signup page, Login/Sign In page, Forgot Password, and a Freelancer or Client Initiation Page. Other features include the Initial Step of Job Creation and Initial Step of Finding Talent, My Activity, Hiring Dashboard, and Job Creation Process pages.

Meanwhile, the Beta version will soon be available for users to interact with. The Uwerx team expects and welcomes all feedback and recommendations through the dedicated feedback email, feedback@uwerx.network.

In addition, the integrated Vault system in the protocol will provide a secure storage solution for investors to hold their tokens, granting them incentives determined by the platform for variables. This feature will encourage more user engagement on the protocol. Also, a 98.2% community vote supported Uwerx's decision to conduct a test airdrop. The test airdrop will ensure all token holders have their correct receiving wallet addresses.

  Nexo's (NEXO) Legal Throes. When Will It End?

Crypto lender, Nexo (NEXO), allows users to deposit their digital assets and receive loans in fiat currency or stablecoins, using their cryptocurrencies as collateral. It also offers an interest-earning program where users can earn interest on their crypto holdings.

Neo (NEXO) has been in legal trouble since 2021. On May 11, 2023, Bloomberg reported that the crypto lender shut down two of its subsidiaries in the UK. This decision followed its legal challenges in Bulgaria, where it is accused of participating in illicit activities.

Nexo (NEXO) also faced charges from the US SEC for neglecting to register the sale and offer of its crypto lending product, the NEXO token. Nexo (NEXO) paid a total penalty of $45 million to resolve the charges.

Although Nexo (NEXO) phased out its operations in the US in December 2022, it was still accused of being a security in the SEC's lawsuit against Coinbase filed on June 6, 2023.

Due to these legal challenges, Nexo (NEXO) currently trades at $0.63, down by 4.66% within the past week. It has also decreased by 13.119% within the past month. This bearish trend indicates investors are uncertain about Nexo's (NEXO) future and are looking towards other investments.

  LBRY Credits (LBC) Relisted As A Security In Coinbase Lawsuit 

LBRY Credits (LBRY) is the native token of LBRY INC., a digital company that seeks to decentralize and simplify the distribution of digital content by producers and its accessibility to consumers.

On November 7, 2022, LBRY INC., the company behind LBRY Credits (LBC), lost its case with the SEC. The regulator initially charged LBRY INC. for selling unregistered securities in March 2021.

Although SEC later admitted the sale of the LBC tokens in the secondary market didn't constitute a security and revised the $22 million penalty levied on LBRY, the regulator relisted it as a security in its recent case against Coinbase.

LBRY's token in question, LBC, now sells for $0.010. The token is down 2.82% in the past day and 13.15% within the past week.

Given their ongoing legal battles against regulators, Nexo (NEXO) and LBRY Credits (LBC) will not likely deliver massive returns to investors anytime soon. In contrast, the Uwerx presale gained popularity due to the agile methodology approach adopted by the developers. This strategy has helped them release the project in stages while making significant improvements over time.

Experts have also predicted Uwerx could hit a significant price of $2.7 by Q4 2023, thereby increasing confidence in the project's performance once launched. Hurry now to participate in the presale by following the links below to enjoy a 15% purchase bonus.

Website: https://www.uwerx.network 

Presale: invest.uwerx.network  

Telegram: https://t.me/uwerx_network  

Twitter: https://twitter.com/uwerx_network 

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