Community questions for Lisbon AMA, 19 October

[canesin (FCC)]

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.

[canesin (FCC)]

Community questions for Lisbon AMA, 19 October

Dear Nash team, Is it possible to give a status/update on the ongoing proces regarding the security dealer license? Kind regards, Coinder Frank

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.

[canesin (FCC)]

Community questions for Lisbon AMA, 19 October

Do you think we’re on track to become a top 50 CMC ranked exchange (volume) within 6 months of launch? (April 2020) sharkie ps - loving the MVP progress so far

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.

[canesin (FCC)]

Community questions for Lisbon AMA, 19 October

75% of fees for those who block tokens for two years will be maintained forever? even if it is a q3 report, could you do us a sort of roadmap of nash short-term projects (q4)?

replied in lisbon: Operations and Mobile: Quarterly Report Q3 2019 - YouTube

[canesin (FCC)]

Community questions for Lisbon AMA, 19 October

Hi, Only 10,000 is required to get another Coin / Blockchain (for legal fees). So the Nash team will probably pay in the form of working hours. My question would be: Is it planned to integrate the current top 20 coins? even without inquiries or legal costs further: since it costs not just little (working time) to intigrieren new blockchains: will the $ 10,000 concept have a future? (because the top20 change relatively fast)

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.

1. Bitcoin - WIP
2. Ethereum - OK
3. XRP - FUT
4. Bitcoin Cash - WIP
5. Tether - BLK
6. Litecoin - WIP
7. EOS - FUT
8. Binance Coin - BLK
9. Bitcoin SV - SEC
10. Stellar - FUT
11. Cardano - FUT
12. Tron - BLK
13. Monero - FUT
14. Chainlink - WIP
15. Unis sed Leo - BLK
16. Huobi Token - BLK
17. IOTA - FUT
18. NEO - OK
19. Dash - WIP
20. Cosmos - FUT

[canesin (FCC)]

Community questions for Lisbon AMA, 19 October

3 simple Questions: 1.) When will Nex be listed on Nash - Why in detail does this stuff take so long exactly? 2.) Are u planning anything with XRP - XRP backed Stable Coin for Europe etc.? 3.) Will there be stable coin pairs for Europe?

This has been replied either above or on the Q3 report.
See Operations and Mobile: Quarterly Report Q3 2019 - YouTube or read Operations and Mobile: Quarterly Report Q3 2019

[canesin (FCC)]

Community questions for Lisbon AMA, 19 October

Canada: Any updates in regards to enabling trading? How are those MSB licenses going? Hardware Wallet: This is a sore spot for many community members and those new to Nash. If possible, can you briefly describe how your 2nd gen key management will work? I eagerly look forward to a system that displaces hardware wallets – I don’t really think they’re necessary!

This has been replied either above or on the Q3 report.
See Operations and Mobile: Quarterly Report Q3 2019 - YouTube or read Operations and Mobile: Quarterly Report Q3 2019

[canesin (FCC)]

Community questions for Lisbon AMA, 19 October

When we can expected to buy Nex via fiat ramps on Nash Exchange? Are there any plans to go with the Neon Exchange Aktiengesellschaft to the stock exchange in the future? What do you think about decentralized lending on Nash?

1. We will not offer NEX on fiat ramps. It is the third parties in the marketplace that are in charge of what they buy/sell.

2. No current plans, way too soon.

3. Not a product we are currently going after, we already have a big offering we are dedicated to gain market share first.

[canesin (FCC)]

Community questions for Lisbon AMA, 19 October

Unlike more traditional setups, where a company has one or multiple offices in different countries from where employees work together, the team from Nash is located all around the globe. One of the advantages of this “work from home”-approach I can think of: you can hire top talents from around the world, without the necessity for them to move. On the other hand, I imagine this setup might make coordination and management much more complex. The fact that the company sometimes gathers for develo…

We believe in decentralization so much that even our team is fully remote. And yes, attracting great talent is a by-product. We are absolutely convinced that great talent comes in every culture, language, color, sex and religion. Decentralization is diversity, that is from where it extracts all its security and economic qualities (you trust more Bitcoin many miners because you expect they to be diverse in how they act, on their goals and on their beliefs).

But like with the networks it self, being fully remote indeed does presents many new challenges, coordinating work and guaranteeing communication has very low latency are the hardest, for this reason we since day-1 have been constantly trying to improve our processes internally - changing both process and tooling whenever it seems to make sense. Due to this we have continued to see better execution and I personally think we can even surpass traditional forms of coordination given how we can make everything async. If you are interested in this topic this is a good write up of how async can help: https://blog.remote.com/why-you-should-be-doing-async-work/

We will continue to be fully remote for the foreseeable future, we do however have “timezone bands” we aim for, and naturally happens to have more than one employee in some cities - that we encourage people to meet and build social bonds.

[canesin (FCC)]

Community questions for Lisbon AMA, 19 October

Is it possible to apply the technology behind BITCOIN trading to other non-Smart Contract enabled blockchains? And I’m not talking about Bitcoin Forks like LTC, etc. I’m talking about blockchains like NANO, Stellar, Monero, IOTA, etc.

This has been replied either above or on the Q3 report.
See Operations and Mobile: Quarterly Report Q3 2019 - YouTube or read Operations and Mobile: Quarterly Report Q3 2019

[canesin (FCC)]

Community questions for Lisbon AMA, 19 October

Nash has and is achieving many world firsts; Cross-chain noncustodial trading, Non-custodial Bitcoin trading, Hardware wallet beating key security using MPC etc… These are all things that no one else has achieved and worth promoting. Has the team compiled a list of these “World Firsts” if so what are they and does the team have a marketing plan to promote them? There’s no point being the best if no one is aware…

This has been replied either above or on the Q3 report.
See Operations and Mobile: Quarterly Report Q3 2019 - YouTube or read Operations and Mobile: Quarterly Report Q3 2019

[canesin (FCC)]

Community questions for Lisbon AMA, 19 October

can you tell us more about nashpay?

This has been replied either above or on the Q3 report.
See Operations and Mobile: Quarterly Report Q3 2019 - YouTube or read Operations and Mobile: Quarterly Report Q3 2019

[canesin (FCC)]

Community questions for Lisbon AMA, 19 October

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.

This has been replied either above or on the Q3 report.
See Operations and Mobile: Quarterly Report Q3 2019 - YouTube or read Operations and Mobile: Quarterly Report Q3 2019

[canesin (FCC)]

Community questions for Lisbon AMA, 19 October

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…

I will ask once again to not couple multiple questions into one entry, it makes virtually impossible to reply on the AMAs.

1/2/3/6 - This has been replied either above or on the Q3 report.
See Operations and Mobile: Quarterly Report Q3 2019 - YouTube or read Operations and Mobile: Quarterly Report Q3 2019

4. Nash is non-custodial, it is not in our current plans to offer USDC-EUR market pair, we do plan however offer a USDC-EUR fiat ramp in near future.

5. That is something for the industry to decide, is not currently in Nash plans to issue a stable coin.

[canesin (FCC)]

Community questions for Lisbon AMA, 19 October

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 amoun…

This has been replied either above or on the Q3 report.
See Operations and Mobile: Quarterly Report Q3 2019 - YouTube or read Operations and Mobile: Quarterly Report Q3 2019

[canesin (FCC)]

Community questions for Lisbon AMA, 19 October

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 ty…

I will ask once again to not couple multiple questions into one entry, it makes virtually impossible to reply on the AMAs.

Retail users and individual traders. Yes. Expectations have been repeated to exhaustion at this point. Yes, we do market research.

Online survey, interviews and user tacking/attribution. Currently we are focusing on the two profiles mentioned above.

A lot of people don’t actually know what digital marketing is and how it works. A lot of people think they do because they sell something or watched Mad Men. We fully trust our penetration strategy and have devoted as much time and care to it as the technology. I don’t know exactly what you mean by holistic approach, we do/will use several channels including the product itself.

The Bakkt case is a prime example of people confusing app marketing with paid ads, what is today a classical mistake, as said by Steve Jobs in this interview from 1985

Jobs: First of all, it was too expensive—about ten grand. We had gotten Fortune 500-itis, trying to sell to those huge corporations, when our roots were selling to people. … We decided to hire people we thought were marketing and management experts. Not a bad idea, but unfortunately, this was such a new business that the things the so-called professionals knew were almost detriments to their success in this new way of looking at business.

I believe we have a better chance because we understand better what is to be a crypto user and trader, they will learn however, and as you said they have a cushion to make more mistakes. So time is of the essence.

Liquidity has been demonstrated and will be expanded solved on a market-by-market basis. This quarter we will kickoff our new program to demonstrate volume on the test markets. The community can and should help to educate that liquidity and volume are two different things, you can already get good prices and fast execution on Nash in several markets. We believe to have a few strong costumer acquisition projects, they are mostly tied to features as they should be - so they will be executed as those features are deployed to the live product.

Our marketing budget is adequate to the projects we have planned, based on three main fronts: product, community and social. If it is shown that some funnel is preferential and is scalable (meaning cost per acquisition doesn’t blow up) we will increase its budget. In that case if required we could even raise capital just to pour on that funnel. This question is a bit convoluted, a few of the mentioned examples aren’t modern or have not been shown to work. We will not do several of the mentioned promotion methods.

We have a competitive program to attract liquidity partners. That was developed by hearing their feedback. The program is part of a ongoing effort to bring more partners from the liquidity industry to be part of Nash future.

There is very low cost to maintain a natural market. Every project is actively invited to bring their users to Nash.

We have no personal bias against any project, one of the reasons why we are such a great team to run markets. XRP has limited programming capabilities and needs research, our blockchain engineering team is focused on the Bitcoin protocol. We have been recommended to not start USDT markets due to legal concerns.

We do not discuss regulatory processes. Regarding Nash position on this matter see: Community questions for Lisbon AMA, 19 October - #34 by canesin

[canesin (FCC)]

Community questions for Lisbon AMA, 19 October

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. It is on the tracking but not in our 6mo plans, so if we will push it forward will depend on how priorities shift.
2. Our initial protocol will use Bitcoin main chain, we could in mid/long term.

3/4 - Nash is non-custodial. This has been replied either above or on the Q3 report.
See Operations and Mobile: Quarterly Report Q3 2019 - YouTube or read Operations and Mobile: Quarterly Report Q3 2019

[canesin (FCC)]

Community questions for Lisbon AMA, 19 October

Wen Nash Trustworthy Technology Service Provider in Liechtenstein ?

Not on tracking. We are focused on our current products for now.

[canesin (FCC)]

Community questions for Lisbon AMA, 19 October

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?

This has been replied either above or on the Q3 report.
See Operations and Mobile: Quarterly Report Q3 2019 - YouTube or read Operations and Mobile: Quarterly Report Q3 2019