Hey Nash Warriors!
I’ve been keeping a close eye on Nash (formerly NEX) almost since its inception because I truly believe that by building a decentralized financial infrastructure, we can make a huge positive impact in the current broken financial system ruled by private banks and corrupted governments. Anyway, I just wanted to share my thoughts, make a few questions and give some suggestions now that we are live.
First of all, congrats on the Exchange launch last week, that was a big step but just the beginning of something great. As community member and investor, I wanna say thank you for all the great work and, in most of the cases, devotion for this project. What a time to be alive and see how Nash and other companies in the space are laying the foundations of the way people around the world will exchange value and money without intermediaries.
Let’s get into the product review.
The UX is quite good, far from perfect though. But for being a MVP is an excellent start. And it’s fast!! I like very much the Funds Manager and Staking. The part that I think it needs more attention is the Trade page. The order book and recent trades modules are too tight, they deserve more space so they are less congested. I would like to see the Graphs module in the center and the Accounts on the left hand side of the page instead of on the right. This might sound like just personal preference but I mention it here because it would look more natural to me as trading page. In my opinion, Switcheo has a very fine UX/UI. Also, like many others, looking forward to trade with the night mode on in the upcoming update.
On the Assets page, we are listing Ontology as NEP-5 when they have already their own mainnet, running for more than a year now. This might cause funds loss for some users who are not aware of this. This has been reported already but fixing this asap should be priority.
Other two important things. The total portfolio value should include the staked NEX tokens and having the possibility to convert small balances to a single digital asset of our election would be much appreciated.
I agree with many other members that we should list more projects if we want to start getting some traction from the trading side. BTC pairings are a must have, otherwise volume will remain stagnant even with the best marketing campaigns. How much work and time can it take to add other top protocols? For instance: ICON, EOS, Cardano, Tezos, VeChain, private coins, etc.
I know it’s not on the roadmap for now but Nash as FinTech company should offer debit cards in the future, not only for convenience and being able to spend crypto but for customer retention. Can be the fact that we are non-custodial a problem for launching such a service in the future?
Is the team working on partnerships or it’s too early for that? I have yet to see partnerships announcements. Obviously, there is no rush to do so and the focus should be on other areas now but I wonder if Nash will actively look for partnerships (not only on currency partners) as per integration and bringing liquidity to the exchange. SDKs needed here. I want to point out that Kyber Network has done a great job on the partners side.
Countries such as China, South Korea, Hong Kong, Indonesia, Venezuela or Vietnam are very active in crypto, however they are banned from using the platform. Can we expect that to change? Are you in talks with regulators in those jurisdictions? Why some of these countries could participate in the security token sale but are not able to participate?
When can we expect real fiat on ramps on the platform?
This will bring extra liquidity into the exchange and deeper order books.
When can we expect having license for listing securities?
I want to purchase a few more NEX in Nash and not having to go to other exchanges.
I don’t need a timely roadmap but I would love to see/hear in the next quarterly report in Lisbon what’s next in terms of business development.
Finally, I’d like to present some marketing suggestions.
It would be great to have Nash listed on CMC Exchanges for exchange discovery and have the NEX circulating supply updated since it’s currently showing a market cap that is not accurate.
In due time, I would partner with some influencers so they can help us to regain lost momentum. I had chance to talk to some of crypto youtubers and they love Nash project but have little to non incentive to promote it to their audiences. Sadly, the referral giveaway doesn’t look attractive to them. I’m sure we can find other approaches to build brand awareness.
Many people use tracking portfolio apps such as Blockfolio and they offer projects to post updates on their Signals tab. That is an excellent way to not only keep the community up to date (we have Twitter for that) but also traders and other users who are mainly tracking NEX price.
BEAM has a dedicated section in Coingecko (8M monthly users) which give them a lot of exposure about their project. Marketing actions like that would be fantastic to see from Nash. Media for equity (NEX for the case) is very common in startups. Plus, I’m sure it won’t be too difficult to find sites and media outlets aligned with Nash’s vision and mission.
I would prepare a marketing campaign ready to launch by the time centralized exchanges show major vulnerabilities or hacks. Let’s be honest here, many people are still not crypto educated enough to understand the risk of keeping their funds in centralized entities. Further hacks will come up. It’s not a question if it will happen but when it will happen. Nash is the best alternative to the centralized options and we have to be ready to increase market exposure whenever users look for safer ways to trade and invest.
Also, one of the best strategies we can take to increase volume and attract thousands of new users to the exchange is being the first ones to list long awaited projects as they have huge communities behind. I’m talking the likes of Hedera Hashgraph (yes, we are late in this one), Origin Protocol, Dfinity, Oasis Labs, Solana, etc. I’m sure you know more projects than me and there will be many to come, but you get the point.
That’s all for now. I will keep posting ideas on how to improve the platform and get more users on board as we are all in the same boat.
To conclude, I’d like to give a big shout-out to the Technical Support team for responding the tickets with detailed information and creating new articles for the support page. My brother submitted a support request and was delighted with the answer and communication. Great job also there!
Presentation for Q4 report in Singapore or Thailand, please!
I’d love to meet the team in person
Have a great day!