Let me know if there is a better place to post this kind of thing.
Would like to cash in “dust” but it’s too small. Would be great for a “market sell all dust for BTC/USDC” option somewhere. Similar to how Binance’s “Convert BNB” for small amounts works.
I’m not sure how feasible this is with the way Nash is set up, but would be nice. Currently most staking returns are in coin dust so the effective staking reward is actually a smaller % than the already small actual staking reward, since some of it can’t be claimed.
This thing has been discussed few times in history here. Problem is that unlike Binance when you just change numbers in central base here at Nash you really need to make a trade to swap dust to other coin. On last AMA Tom said they planning to do this but it’s not priority thing and haven’t thought about technical solution yet.
For dust conversion, Nash could offer a button for instant conversion, something similar to what was offered in a simplified version of the exchange. Since it is only dust, you don’t have to be super precise about getting the best possible price when you have cents of value.
Rough sketch of this interface would be something like this; on top of the page you would state the crypto you would like your dust to be converted in. Below that you would have all the coins of which you have dust. Then you check the box of every coin you want your dust converted or you click on “apply to all” which automatically selects all the boxes (so all of your dust coins will be converted in the coin you selected in the above category). After that Nash can display some generic message like “You agree to instant conversion at the current prices, yadda yadda” just as a heads up for whiny people that could complain about the conversion rate, and that’s it. This could be done within current categories (under Funds > Assets).
The Problem is there would have to be pairs for all currencies to all currencies,
as it is not the fact. You would have 2-3 trades per coin to get to your desired curency ie. USDC.
A “dust” trade would then look something like this GUMPY->BTC->USDC and therefor had to be 2 trades. So as you can see its a bit more complicated…I asume therefore its not on the highest priority right now… but i think the team is very aware that the comunity is wishing for this kind of feature.
I to would love to convert my “Dust” to USDC or BTC
For me, and I assume many others, converting dust to another coin is less about the money and more of an OCD feeling that you want to have a “clutter free” or “clean” portfolio in your wallet.
Once the person to person account transfer functionality has been enabled on the L2 state channels, I would imagine that Nash could simply avoid the headache of running these dust conversions through the matching engine and just offer a direct USDC settlement.
Couldn’t Nash just offer to exchange a small amount of USDC for all your dust avoiding the complicated ME for small trades. I’d even be happy to accept a much lower conversion rate just to remove my dust.
All that dust could be funnelled back into the tresuary at Nash for sale or use at a later date? One of those use cases could be providing liquidity on those markets with bots.
They pay us the rewards in dust, so why should i keep it on the exchange unused? Until now have never been able to use my $ 1.50 rewards for this reason. A solution must be found.
I think this needs more attention, we all have dust there doing nothing. Swapping to 1 token / coin. Swap to NEX, just something so it’s not sitting there doing nothing.
It is coming though it is not high on priority list so give it a couple of months. Don’t need to rush it, it is only dust… No difference in converting now to 0.01 USDC or to 0.05 USDC in a couple of months.
