Aside from being non-custodial what's Nash's edge against the competition?

Nash is in a strange place at the moment because it’s less convenient than Coinbase, doesn’t have the volume of established players like Bitfinex/Binance and doesn’t offer advanced (dangerous?) derivatives and leverage like FTX and Bitmex.

Being non-custodial doesn’t seem to be a draw for the regular crowd based on the complaints about KYC we’ve been consistently getting. That being the case the only advantage is that institutions can’t use Bitfinex, Binance etc… so in theory Nash is the only place for them to go but then there’s Fidelity, Bakkt, Coinbase Custody, BitGo and Grayscale so until we can offer competitive volume I don’t see institutions rushing over to Nash.

The early hypothesis for Nash was that stakers would drive volume as they’re incentivised to do so and this would bring non-stakers to further drive volume, so far that hasn’t proven to be the case…

We’re all banking on the introduction of BTC + MPC API keys to get all the market-makers, bots, algo traders and liquidity providers driving volume and bringing eyeballs to Nash. Marketing will be improving once that happens but what’s Nash’s Edge if the market doesn’t care about non-custodial exchange where KYC is required?

I understand the advantages of KYC and legal compliance, what I’m asking is without the advantage of being non-custodial what’s Nash’s edge?

Binance stole Bittrex’s edge in 2017 by having the newest tokens first, Coinbase has kept heir first mover advantage along with class leading UI, Bittrex and FTX has their leverage and derivatives you cant find elsewhere, Bitfinex still has tether I guess…

Nash pay won’t start bringing volume for at least 12 months even if it is industry leading and better than Cash app, PayPal and Visa combined so that doesn’t count (yet).

No wrong answers here just trying to figure out what Nash’s selling point is if you remove good UI (still in progress) and being non-custodial from the equation?

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Nash is in a strange place at the moment because it’s less convenient than Coinbase,

Nash aims to be more user-friendly than your typical cryptocurrency exchange.

The early hypothesis for Nash was that stakers would drive volume as they’re incentivised to do so and this would bring non-stakers to further drive volume, so far that hasn’t proven to be the case…

I’ve never heard of this theory. Stakers drive scarcity, as more people staking leads to more scarcity of the NEX token. That has nothing to do with volume.

I understand the advantages of KYC and legal compliance, what I’m asking is without the advantage of being non-custodial what’s Nash’s edge?

Nash’s huge vision, for a start. Over 1 billion users by 2030. Nash Pay which will finally make crypto payments (in any cryptocurrency) not only possible but easy. This kind of mobile-based payment system is already common in places like China, where physical cash is on its way out.

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Well I think there are many advantages aside the exchange product!

First you have a wallet that will be as secure as a 50+$ hardware wallet, but can have much more tokens than a Ledger for example. You can secure almost every ETH token, NEO and its tokens too, and BTC. I think that is a big deal!

Then you have the NEX token, first STO in EU. With a unique reward system, giving a big incentive to increase the volume on the exchange by advertising the exchange, and using it yourself.

You also have many other products like NashPay, the fiat ramps, the web extension…

Compliance is probably the biggest selling point compare to Binance or Bitfinex for example. The SEC and other regulatory bodies are coming after the crypto space.

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The keyword here being “aims” so class leading UI/UX isn’t currently one of Nash’s edges unless you’re comparing to Dex’s only, even then there’s still some decent competition from Kyber and Switcheo who have decent third-party wallet integrations.

10 million staked so far (20% of total supply) and not much liquidity or volume as a result of “users attracted by increased prices”.

The question is more about what edge Nash has over the competition than what their vision is, the vision is a good it’s just not a competitive edge.

Definitely an edge over using a CEX for funds management but maybe something that needs advertising (if no-one is aware about it then it’s not really an edge).

Nash Pay isn’t live yet so not an edge at this point, same goes for Fiat ramps, until Nash’s native fiat ramp gets rolled out we’re behind the competition. Not sure how the web extension that’s about to be deprecated is an advantage either.

Compliance is definitely an edge against those exchanges in jurisdictions where enforcement actions are taking place, Nash only needs to beat Coinbase and Krakken in the US for example. However there are many countries in which exchanges operate without hindrance so it’s kind of a blessing and a curse, hopefully more of a blessing going forward.

I don’t mind the counter-arguments to the original question but I’m more interested to see what the community thinks Nash’s advantage over the competition is if you take the non-custodial/compliance + class-leading UI/UX factors out of the equation.

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The keyword here being “aims” so class leading UI/UX isn’t currently one of Nash’s edges unless you’re comparing to Dex’s only, even then there’s still some decent competition from Kyber and Switcheo who have decent third-party wallet integrations.

I don’t think it’s relevant to compare Nash as it is now with other exchanges. It is in the MVP stage, which means it is not being heavily advertised or promoted.

10 million staked so far (20% of total supply) and not much liquidity or volume as a result of “users attracted by increased prices”.

Again, this is not a valid argument, as Nash is still in MVP stage. Volume isn’t a priority right now nor is Nash being heavily advertised or promoted.

The question is more about what edge Nash has over the competition than what their vision is, the vision is a good it’s just not a competitive edge.

Since we are in MVP stage, Nash’s vision is key.

GA is right around the corner, everything stated here https://nash.io/company/mission/ is great but nothing here points to Nash having an edge in a saturated Crypto/DeFi/Fintech marketplace (non-custody and compliance aside). The purpose of the question was to try and discover if there’s anything Nash is offering aside from Non-custody, compliance and class leading UX that gives them an edge against competitors. It’s all well and good to argue the question but I’m more interested in finding an answer.

Isn’t that a good start? :thinking:

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The purpose of the question was to try and discover if there’s anything Nash is offering aside from Non-custody, compliance and class leading UX that gives them an edge against competitors.

I think that already identifies why Nash is way ahead of any competitors, along with the other elements, such as Nash Pay and other elements which will be added over time (see some of these below). Nash already lays out where it is going and what it will offer.

I’d refer you to the Nash vision blog post (part 1) for further points, which show where Nash is going and how it will continue to compete and surpass existing exchanges:

The foundation of our services is crypto-to-crypto (C2C) trading. This offers a mixed market where both businesses and individuals can operate.

Next come prime brokerage tools. These are business tools for institutional investors. Nash is conducting market studies and discussing internal products in this sector to eliminate pain points in OTC and block trading.

Crypto securities trading is aimed at both businesses and individuals. The technical tools for these products are already in place and they will be added once regulatory steps are finalized. This will vastly expand the investment opportunities we offer both our prime and retail customers.

Completing the package, we have inter-exchange liquidity networks. We intend to collaborate with other major exchanges to establish order book–sharing protocols. These will interconnect different markets and provide higher liquidity. Development is expected to begin in 2020.

In part 2, they highlight a number of important advantages of using Nash:

  • Ease of use
  • Secure, high-performance trading
  • Legal compliance
  • An integrated platform (e.g. Nash Pay / currency partners)
  • Non-custodial, cross-chain trading
  • Fiat ramps
  • Nash Exchange token (NEX) staking

C2C trading - only an edge when you factor in non-custody
Prime Brokerage tools - still in development (non-custody helps here for sure)
Crypto securities trading - an edge once a licence is obtained (non-custody helps here)
Order book sharing - maybe in the future
Ease of use - other platforms are easy to use
Secure - not currently perceived as an edge (maybe needs more marketing?)
Legal compliance - there are competitors that are also compliant
Fiat Ramps - there are many available so not an edge per se
NEX token - needs volume to be an edge

All of the above put together; an easy to use, legally compliant, non-custodial cross-chain crypto/securities exchange with fiat ramps, Prime Brokerage tools, order book sharing and a revenue sharing registered security token would be an edge over the current competition but as it stands not all of those things have come together yet. So at this point in time the only edge I can think of is Nash’s non-custodial nature.

As it stands today the things Nash currently can leverage to enhance their edge are;
The matching engine
The community
The team
Legal compliance

Anything else?

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…would be an edge over the current competition but as it stands not all of those things have come together yet. So at this point in time the only edge I can think of is Nash’s non-custodial nature.

Again, Nash is in the MVP stage. It has low volume because volume is not a priority and we are not in GA. BTC pairs are still pending, etc. You’re comparing Nash as it is (in this early developmental stage) with other exchanges, which are fully developed and have been operational for years. What matters is where Nash is going, not where it is.

The question is about Nash’s current edge over the competition, and currently that edge is quite limited as demonstrated by the low volume and other reasons stated above. It’s in all of our interest that Nash achieves it’s vision and I hope Nash’s future is bright for everyone’s benefit. The community forum is here for us to gain insight into where Nash is as well as where it’s going which is why I posed the question. Thanks for contributing to the conversation, I hope the community can add anything you or I may have missed.

Sure, anyone can reply on this issue.

… and currently that edge is quite limited as demonstrated by the low volume and other reasons stated above

I’m not personally worried about any of this as it’s in MVP. That’s my message here. I cannot compare Nash as it is today with other exchanges. I can only compare Nash as it will be 6 months or a year down the line, at the very least.

Good post @CypherInvestor

bang a few more up on *potential edges

Less onerous compliance for custody + increased automation of cap table structure/divs … we should have a lower break even price on fees.

can provide a copy paste company structure … funneling new companies in to STO’ing off nash…run their company finances and use Nash’s connections / platform to issue. (pending)

Best price program… Should remove the need for large trades to go off book to OTC… God knows how they are doing that :wink: this should have an immediate impact and nothing in the way of doing it

we will have to go back to this thread and tick them off.

lets see if we can tick some off after next week ?

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as were in water cooler lol…

has anyone considered… if Nash has volume, provably fair , transparent, realtime information that can be publicly monitored

Isnt Nash the perfect tool for onhain oracle services like… triggering conditional smart contracts?

im thinking this is an edge i just dont know why… any help?

other than providing clean sig on an audit sheet

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called it ^^

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Nice, forgot about this.