Wow that is awesome, I did miss it lol.
Once (if?) there is solid demand for the $NEX token, the lack of supply (tokens available for sale or “circulating supply”) in the market could really move the price up beyond most peoples expectations. As we know, by halving the quantity supplied of something you could effectively double it’s market price (Econ 101).
I mean let’s take the view that there is great value in offering Bitcoin trading against other token pairs without ever putting users assets at risk of a mass-hack on a centralized exchange, but instead allowing users to trade from the safety of their wallet. Not to mention everything else the platform offers - it has the potential to be the best some day IMO. It will take a bit of time, but as the platform is refined and more liquidity has entered the trading books, $NEX token may start drawing a lot of attention. Once price starts moving up and the Nash platform gains decent volume (pays nice dividends), more people will stake into the platform, reducing supply even further. I mean if we are nearing 50% circulating supply staked now, what happens if 70%, 80%, 90% are staked someday? Price is multiples higher than it would otherwise be at this point, and if dividend yields are high, the numbers could be bonkers. The more popular the Nash platform becomes (trading, NashPay, etc), the more exponentially the volumes will increase, increasing the dividend payment to NEX stakers which could fuel the feedback loop as it drives demand higher.
*BTW I am assuming CoinMarketCap hasn’t subtracted the staked tokens from “circulating supply” number. But regardless, 20% of total supply staked is fantastic.
Like I said, this could be a long way off. But the upside potential here is really interesting to me. Nash Pay could also see some real adoption when it is rolled out (driving volumes/dividends higher), particularly in Lebanon and countries where the local currency / institutions just aren’t safe anymore, or where there is high inflation (most of the world).
I hope that when the next big exchange hack happens, BTC trading on Nash platform will be in a good position liquidity and reliability wise to be attractive to people looking for safe and reasonable trading options. The team has delivered so far. There is a reason this hasn’t been done before. It’s freaking hard; so I am never surprised by short-term delays. Some people still complain tho
Thanks for the info @Hatertots !