Lygos charges 10% APR with $0 origination fees using non-custodial (dlc). Nexo charges 10.9%–17.9% APR with $0 origination fees using custodial. See the full breakdown of rates, thresholds, and custody risk below.
Rates verified 2026-06-09
Lygos offers a lower headline rate at 10% compared to Nexo's 10.9%–17.9%. However, Nexo's lowest rates require loyalty tier qualifications, and most borrowers pay significantly more than the headline rate. On a $1M loan held for 12 months, Lygos saves $39,000 in total first-year cost (interest plus origination fees). From a custody perspective, Lygos presents lower counterparty risk with its non-custodial (dlc) model.
Nexo's rates depend on loyalty tier (token holdings), not loan size. The table below shows the rate most borrowers actually pay at each tier. Total year-1 cost includes both annualized interest and any origination fees charged upfront.
| Loan Size | Lygos APR | Nexo APR | Lygos Total Year-1 Cost | Nexo Total Year-1 Cost | Savings |
|---|---|---|---|---|---|
| $100,000 | 10% | 13.9% | $10,000 | $13,900 | $3,900 with Lygos |
| $250,000 | 10% | 13.9% | $25,000 | $34,750 | $9,750 with Lygos |
| $500,000 | 10% | 13.9% | $50,000 | $69,500 | $19,500 with Lygos |
| $1M | 10% | 13.9% | $100,000 | $139,000 | $39,000 with Lygos |
| $5M | 10% | 13.9% | $500,000 | $695,000 | $195,000 with Lygos |
Total year-1 cost includes annualized interest plus origination fees. Lygos: $0 origination fee. Rates sourced from each lender's public rate pages as of 2026-06-09.
Lygos and Nexo take fundamentally different approaches to collateral custody. Lygos uses Non-custodial (DLC). Your Bitcoin is locked on the Bitcoin blockchain in a smart contract. Neither Lygos nor any third party can access or move your collateral. Nexo uses Custodial. Your Bitcoin is held by Nexo and could be at risk in the event of a hack, insolvency, or regulatory action. Nexo also rehypothecates deposited assets, meaning your collateral may be lent to third parties.
Lygos triggers margin calls at 70% LTV and liquidates at 85% LTV. Nexo triggers margin calls at 71.4% LTV and liquidates at 83.33% LTV.
| Threshold | Lygos | Nexo |
|---|---|---|
| Max Starting LTV | 70% | 50% |
| Margin Call | 70% LTV | 71.4% LTV |
| Margin Call Window | Threshold-based | Threshold-based |
| Liquidation | 85% LTV | 83.33% LTV |
Lygos: 15.0 percentage point buffer between starting LTV (70%) and liquidation (85%). Nexo: 33.3 percentage point buffer between starting LTV (50%) and liquidation (83.33%). Nexo provides a wider safety margin.
The choice between Lygos and Nexo comes down to three factors: total cost, custody architecture, and who the platform is designed for. Lygos serves borrowers from $50,000 to $50,000,000 with a single transparent rate and non-custodial DLC security. Nexo serves a broader range starting from $50, using custodial.
On a $250,000 loan, Lygos costs $25,000 in the first year versus $34,750 at Nexo, a difference of $9,750. Lygos charges no origination fee, so the only cost is interest.
The custody difference is material. Lygos uses non-custodial (dlc), which means your Bitcoin is locked on the Bitcoin blockchain in a smart contract where no party can access it. Nexo uses custodial and rehypothecates deposited assets, meaning your collateral may be lent to third parties while your loan is active. In a platform insolvency scenario, Lygos borrowers' collateral is protected by the Bitcoin protocol, while Nexo borrowers may face creditor claims.
Lygos is the better fit for borrowers who prioritize non-custodial security, want a single transparent rate, and are borrowing $50,000 or more. Nexo is the better fit for borrowers who need smaller loans or more flexible access.
Key details to be aware of: Nexo: Standard tiers: Base 17.9% / Silver 15.
Lygos is cheaper. On a $500,000 loan held for 12 months, Lygos costs $50,000 (10% APR) while Nexo costs $69,500 (13.9% APR). That is a $19,500 difference in the first year.
Lygos uses non-custodial (dlc). Nexo uses custodial and rehypothecates deposited assets. Lygos presents lower custody risk because your collateral is locked on the Bitcoin blockchain where no party can access it.
Lygos's minimum loan is $50,000. Nexo's minimum is $50. Nexo is more accessible for smaller borrowers.
Lygos issues a margin call at 70% LTV (threshold-based, no fixed window) and liquidates at 85% LTV. Nexo issues a margin call at 71.4% LTV (threshold-based, no fixed window) and liquidates at 83.33% LTV. Starting from a 50% LTV, Lygos provides a 35-point buffer before liquidation, while Nexo provides a 33-point buffer.
It depends on your priorities. Lygos (10% APR, non-custodial (dlc), min $50,000) is better for borrowers who prioritize non-custodial security and want a flat transparent rate. Nexo (10.9%–17.9% APR, custodial, min $50) is better for borrowers who value custodial and need smaller loan access. Use the rate table and cost comparison above to model your specific scenario.
See why borrowers choose Lygos over Nexo for Bitcoin-backed liquidity without custody risk.