-
How many project applications did you receive to date? And how many of those are being worked on and how many were refused?
-
When will we see more projects being added at an accelerated pace?
Thanks.
6 Likes
Hi, here are my questions:
- When can we expect the first EU SEPA (Debet) bank transfers? Since that is 0 or close to 0 cost, this will be a true competitor for the likes of Coinbase or Bitstamp and for a lot of people this would be the reason never to use these platforms again and move over to Nash (if there is enough liquidity)
- Nash pay update. Where are we at and what can we expect when ?
- Canesin mentioned in a BlockChain Brad interview early this year that he expected approx 35 million daily (so about 1billion USD monthly) volume around 6 months after launch. Does the team still think this is possible ?
- When can we expect a USDC-EUR pair ?
- When can we expect a EUR stable coin ?
- and of course an update on the BTC progress
Thx team and keep up the good steady progress!
Cheers
10 Likes
I forgot to add a 7th question:
7) Given the success of the likes of Celsius.com, would Nash be thinking of decentralized lending/interest earning platform ? I know Celsius is custodial (they work with BITGO), so it would be a game-changer to have this possibility with our Nash - decentralized/non-custodial setup. Is that even possible ? Has the team thought about it ? If not, would it be possible to perhaps think of a partnership with firms like celsius as I think this is pulling in huge amounts of FIAT because of the interests that can be earned compared to the traditional banking sector.
3 Likes
Hi, this is forwarded for a TG-Member called Solomon Adekale:
Who is the primary target demographic that we expect to bring in the majority of volume in the next 6-8 months? Have we profiled them in detail? Whats the potential volume numbers are we expecting from them? FOLLOW UP: Have we Q and A’d these folks to see if this is a platform they would already trade on? Their problem with current exchanges and if they see what we are doing as something special that would make them switch?
What type of Q/As have been done already? And for how many potential demographics that can bring actual volume to the platform?
I would imagine we want to inspire confidence when it comes to marketing. Right now the “perceptive” marketing plan feels shaky to a lot of people. I think this is due to people’s misconception that the team might rely on the community for its primary marketing plan. Can you reassure us that marketing has as much of a robust well funded go-to-market strategy as the technology does? Can we expect a holistic marketing approach?
What are some different marketing channels we plan to use to really onboard users? Because if Bakkt who raised $150 Million is only doing an average of 5-10 Bitcoin a day then what can we truly expect from Nash Exchange which only raised $35 Million? And that’s before the one year of development.
For now it feels like other people are more aggressive with customer acquisition and we aren’t. Yes we are still in MVP mode but we know the bad wrap on DEXs. Its always volume and liquidity. People feel we are falling into that trap despite the promise that this wouldn’t be the case. Can we get confirmation again that there is some grand solution to this from Nash? Or will we look like Bakkt even after BTC integration? FOLLOW UP: Are we ready to be aggressive to gain new users? Or old users on other exchanges? Have we figured out customer acquisition models that could effectively take users from other exchanges?
We know the team raised money for basic marketing but what about holistic marketing where we aren’t just relying on traditional mundane modes and tactics that don’t necessarily work in our space? Yes we know we have money for sponsorships and advertisements. But what about alternative and advanced holistic tactics like: target influencers, YouTubers & YouTube channels, twitter army maintenance, YouTube based content, social influencers, press buddies for strategic articles, robust referral system, liquidity/volume marketing, trading competitions, hackathons, native advertising and so much more. Are we preparing a marketing budget that includes all these modern tactics?
In terms of just liquidity/volume marketing are you prepared to subsidize certain key actions on Nash to make it easier for people to bring their volume to the platform in a big way? Competition is heating up and it feels like we may not be prepared to compete on an aggressive level.
Why are current shitcoins on Nash not expected to bring their own volume and liquidity to the platform? Or are they? If not, then how is this not a detrimental business strategy to the platform when we can’t rely on wash trading and need actual real volume to be viable?
How is not having projects bring their own volume going to bring more users and not put a burden on Nash?
Are any of you in talks with current third party chains to list bigger more relevant ALTs projects? Like EOS, XRP, BCH, TRX, COSMOS etc etc?
Do we have a personal bias or any bias against listing XRP or USDT? These are major volume assets. If we still wont listen them even though Nash is non-custodial then can you explain why?
LEGAL: in light of Harbor getting a broker/dealer license have we made sure we are following the same protocol they followed in order to speed up the process? Who on the team do we have working on that? Are they also buddy buddy or familiar within SEC circles since that seems to be a requirement?
Curious to know if we are taking the Skateboard Method approach to NEX markets on Nash Exchange? Meaning is there a way to get minimum licenses just for NEX markets instead of needing a bunch of licenses that would cover more than NEX markets on Nash?
Each block has their questions and some have follow ups.
7 Likes
Good questions/topics, looking forward to the replies.
-
Are there currently plans to launch index funds and margin trading in 2020?
-
Does Nash have any plans to join the Liquid Bitcoin inter-exchange settlement network?
-
When are we getting the option to send money from our bank accounts to the exchange?
-
Will Nash be hosting STOs (security token offerings) or TGEs (token generation events)?
1 Like
Wen Nash Trustworthy Technology Service Provider in Liechtenstein ?
With the current fiat gateways only suitable for card buys and not being a viable alternative to other exchanges, what can we expect going forward?
Is the plan still to acquire the necessary licenses to hold our fiat, have bank transfers and fiat pairs?
3 Likes
2 part question
why dont we see broker dealer/ATS licence holders
coinbase
seedinvest/circle
Harbor
list goes on issuing AND trading securities
they have the licences … why not run these products over the blockchain ?
or are they failing on custody issues regarding 15c 3-3?
2nd part
Do you see tokenised security products and legal tender being accepted in Europe before USA…?
1 Like
I asked the question for the interview of The Crypto Lifestyle, so if you are going to post the videos with answers feel free to ignore it.
How are you going to tackle institutions? Many hedge/VC funds and have regulatory restrictions regarding custody of their investments. So even if they wanted to use Nash, they might not. This is why Coinbase have developed Coinbase custody. A lot of these players are starting to use it.
Do you have any plan to develop a similar product to Coinbase Custody that could be used by institutions?
Do you think there is a way you could get your second gen key management certified such that it could be used by institutions and replace their custody solutions?
1 Like
id like to hear
africa
south america
indonesia
addressed
in a very open general vibe whats the plan … how are we going to serve these areas ?
1 Like
Does ZKP or MPC+threshold key management resolve custody issues with securities… (non self custody)
Do you see other stable coins being listed on Nash (legal tender in other nations other than Bermuda).
Whats our thoughts on Libra … very open question
Hello,
thanks for this opportunity!
I would like to know if you are working on the integration of other assets simultanously.
In other words, we all know that Bitcoin is your priority atm and I think it it obvious we all appreciate this. But after Bitcoin trading is implemented, will you start from the scratch again or is there someone already working on the following implementations? If not, will this strategy change after Bitcoin or will it continue to be ‘one after another’.
Thanks
Thank you all for the questions, we will reply a few on the panel today and all on the forum on the next few days.
9 Likes
We do not discuss regulatory processes. What I can say is that our current focus is not security dealer, but wining market share with exchange product we already have operational. Digital securities trading is a market that still has some significant time to mature, we will revisit this in 2020.
2 Likes
I don’t know how CMC is filtering legitimate trading, given the plague of wash trading that has hit our industry past year. So that ranking might not be relevant to that. We certainly are on track on our plan to be on the top 50 exchanges when considering legitimate volumes.
Our expectations on what that means in numbers have been shared in the community before, as I known you @sharkie you can probably clip it, but we see TOP50 at about 100m/day. This is not a guarantee but on our roadmap we are consistently hitting the milestones for that.
3 Likes
I think this is a symptom of our success to offer a product that offer same user experience of centralized exchange while being non-custodial, generating this kind of expectations.
I will be clear: is not possible to just get a list of networks and add in Nash for trading, we are non-custodial. The network needs to meet some technical requirements.
That said, current TOP20 are:
Legend:
WIP - Work in progress.
OK - Already in Nash
FUT - To be seen, unknown if it is feasible given its limitations. Future work.
BLK - Not being worked, legal uncertainty.
SEC - Not being worked, current possible security concern in consensus.
- Bitcoin - WIP
- Ethereum - OK
- XRP - FUT
- Bitcoin Cash - WIP
- Tether - BLK
- Litecoin - WIP
- EOS - FUT
- Binance Coin - BLK
- Bitcoin SV - SEC
- Stellar - FUT
- Cardano - FUT
- Tron - BLK
- Monero - FUT
- Chainlink - WIP
- Unis sed Leo - BLK
- Huobi Token - BLK
- IOTA - FUT
- NEO - OK
- Dash - WIP
- Cosmos - FUT
7 Likes