Community questions for Boston AMA

Hi, everyone!

As with our London event, we want to give Community members who can’t make it to Boston the chance to ask questions.

Post your questions in this thread and like/upvote your favorites. We’ll do our best to answer the most popular questions on Saturday!

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When is nash planning to launch DAG which is in development? In particular , what would be the purpose of DAG in the whole exchange or payments process. I mean, why they want to migrate from neo to their own infrastructure which would consume further resources of the organisation?

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What is the state of mobile app? I’m really looking forward to see, hear at least something about mobile app development.

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If the team were to start over again (from publishing the whitepaper onward) what would you have done differently, and why?

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Recently Nash put out a call for FIAT on/off ramp partners in countries outside of EU, USA and Brazil. Has there been any progress or applications regarding these?

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How does the fee structure work for fiat onramps ?

Say for example the spotprice for one Bitcoin is 1000 USD on the Nash exchange. And 1EUR = 1USD.

– How much will it cost me if I like to buy 1 BTC on ramp in EUR.

– Who decides the fees ? And if its up to the partner, does Nash have rules/guidelines to avoid uncompetitive rates ?

Who holds the Bitcoin being sold on ramp ? (the parner, Nash, some other fund,…)
Are partners demanding custodial services from Nash ?


Is the onramp just an integration with USDC ? And Bitcoin being delivered from USDC/BTC pair. Liquidity provided by market makers…

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How will (how does) Nash exploit the Open Banking rules in EUROPE ? (It seems huge opportunity for all fintech, so I assume Nash is aware… How aware ?)
is there something similar for US and other continents ?

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Regarding the pairs that will be available on the exchange at launch, has the list been reviewed or is still the same list that was released couple of months ago?

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I think there is a huge potential in Africa continent and Nash should have special focus for Africa countries. Buying crypto is not such an easy process. More of a P2P exchange and there’s a lot of potential there for new entry into crypto. Would like to know if there are plans for entry into Africa and Asia in particular.

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  1. Nash has held itself to a higher standard in all facets of the company. You’ve partnered with some of the best legal firms, security experts for review, development teams, and hire top tier candidates for your open positions.

In addition to building “the best user experience” for exchanges, what other “best” strategies will you employ to target user acquisition?

  1. What do payment processors like about NashPay? What percentage of NashPay transactions will go through the matching engine (estimate, of course)?
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Will the Nash fund manager only show transactions executed from the Nash UI or will it show all transactions for the users wallet address ? Bit like etherscan. :wink:

  1. What is the team’s actual burn rate (operational costs) in terms of USD per month?
  2. How many of the 25M USD raised in the ICO are still left? What happens when the 25M USD are all spent by you and you still need to cover operational costs - do you begin selling NEX tokens which are in your possession in order to get USD to cover costs? Or will you use the profits from trading fees on the DEX to cover costs?
  3. Would you please get in touch with CoinMarketCap and ask them to update the circulating and total supply of NEX, as the ones shown there are not correct?
  4. The main advantage of using a DEX for trading instead of a CEX is always advertised as “you are in control of your own funds”. I was wondering what happens and how exactly I am in control of my funds, if suddenly while I am trading on the DEX the website/UI goes offline for some reason (hack, maintenance etc.) - let’s say I deposited NEX tokens to a smart contract in order to execute a trade and then the exchange’s interface is not available anymore. How do I withdraw the deposited tokens back to my wallet? If I can withdraw them only by using the user interface then I don’t understand how I am in control of my funds at anytime.
  5. Same question for staking NEX tokens - if I decide to stake my NEX tokens for a 2 year period and on the expiration day after 2 years if the user interface of the exchange/website is for some reason not available anymore, will the unstaked NEX tokens be returned automatically to my wallet on expiration date? Do I have to perform a manual withdrawal by using the Nash website/UI? Are the to-be-unstaked tokens automatically renewed (for same time period as before?) if a manual withdrawal process is not initiated by the users?
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#whenready

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How many token have applied and how many of them will be listed at launch? Which ones?

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Is it possible to enable BTC trading in non custodial way without building/onboarding some new consensus mechanism/chain ?

Since there is no smart-contract (VM) you would need to have some way to validate transactions by leveraging trust from outside the BTC chain isn’t ? Can you elaborate on the requirements Nash drawn out in designing a soulution for BTC trading ?

The 75% revenue sharing is centrally decided by the Nash team. Nex being a security provides some protection for investors but how can we be sure that the Nash team won’t lower the revenue sharing percentage in the future? This does not comply with the decentralized finance philosophy of the Nash project because this important aspect is completely centralized. Could the revenue sharing percentage of 75% be programmed into a smart contract to offer additional investor protection?

I have to get rid of a bit of criticism. Many of the questions have been answered very often in this forum and I think that it does not do us any good to keep repeating them.

To @Garda the 75% are programmed in the Smart Contract and nothing can be changed.

And no, unfortunately I have no question, because I find that only many new questions arise when we live.
:sunglasses:

they did already when nex was first listed there cmc just doesnt care …

  • I’ve seen many crypto newcomers comparing NEX with “profit sharing” dividend tokens from other projects. Could you take a moment to discuss the differences between “revenue-share” and “profit-share” dividend models? (e.g. two rival companies launch in a competitive environment, one offering 75%-revenue-share tokens, while the other has 100%-profit-share tokens; how might one of these models benefit investors over the other).

  • You announced several pairings that would be listed on the exchange at launch; have any new ones been added to the list so far, and how goes the applications from crypto projects and banking partners?

  • How will the fiat on/off ramp work? Will users be required to hold a bank account with participating banking partners?

    • Based on current banking partners, will nash users from Canada, Australia and New Zealand be able to purchase crypto upon launch of the MVP?
  • Sending & receiving BTC is slow; will this cause problems for day traders or bots on the exchange, or the checkout time when using NashPay?

  • I recall hearing that the tokens of the nash founders would be frozen, with 1-2% unlocking every ~6 months, or something along those lines. Did this cause problems during the early stages when seeking regulatory approval for the token sale, or was it changed for other reasons?

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  1. Can you share what “other stuff” Thomas was referring to here: https://youtu.be/jWHrQr9iAaU?t=1788

  2. On May 9th, 2019, Nashsocial’s instagram posted a picture of Fabio at Kaiser Partner Privatbank AG. What was the purpose of this meeting?

  3. What are the team’s biggest takeaways from this past quarter’s attendance at: Consensus, Romania Blockchain Summit, and Barcelona Trading Conference?

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