Fiat in, USDC out without using ME

Since using the Fiat gateway will be free of charge, is there a mechanism to make users go through Nash’s matching engine to perform their first trade upon depositing USDC from the Fiat gateway?

I am asking because I believe there will be many people who will use Nash’s Fiat gateway (for free) and then transfer USDC to other exchanges to buy other crypto for whatever reason (better liquidity, price, or availability of a token of interest). In this way, Nash will not benefit anything.

For example, Coinbase Fiat gateway is free, but users are charged 0.5% trading fees when trading Fiat- crypto thereafter (of course, there is no way to move Fiat from Coinbase to other exchanges).

So I hope there is a mechanism in place for this purpose (first trade must be performed on Nash).


Can we get the USDC directly into trading contract?


If I’m not mistaken the great Nash team already said that usdc will go straight ro trading contract.


that for sure will be a great value to have the option to send it to trading or personal wallet!

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As long as collect a fee they can do as they please, i only use coinbase because of the ramps, as soon as we get ours I’ll never use coinbase again :grin:

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Having the choice is important. I think if the user wants it directly to the personal wallet (for example to have ETH to be able to transfer on ETH chain) the user should pay the transaction fee. if the user wants to use it for trade contract, the transaction is free.

Not really, you don’t want people taking money of the exchange for free, if it goes into the trading contract that’s perfect, it will get even better the more coins we have listed…

My thought is that it should go straight into the trading contract!
The idea is to give users a fiat ramp onto the Nash exchange to trade or hold USDC for future trading!

The point is - the trading that results from the Nash fiat ramp should take place on Nash!
Not anywhere else.

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Guys, my post was not about whether you get the usdc in trading/personal wallet. Even you get usdc go to the trading contract, users can still withdraw to the personal wallet and skip trading, or am I wrong?
The question is about whether you are forced to make your first trade through Nash upon depositing Fiat, so Nash and stakers benefit.

I’d say “forced” is a very bad user exp. you can look at feeless onramp as a lead generation. converting those vistors to regular users as a second step.
If you force the user. you only looking for a short-term return but if you retain them, isnt that better?

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Yeah I would assume that they are not forced - only encouraged
I doubt there is anything stopping the user from transferring back to the personal wallet and then to anywhere else they may decide to trade.
Hence the whole premise of being non custodial Nash has no control over what we decide to do with our funds.
As it should be.

I am not sure how or even if the matching engine is used at all throughout the fiat ramp process.

Please don’t focus on one word “forced” that was probably not well articulated, but any way. Nash is a business model, not charity. If I provide you with a service (feeless fiat ramps), you should give me a service back (make your first trade on Nash), this is how I understand business. In trading world, there is nothing called “encouraged”. You do what brings you the maximum benefit (without being scammer or doing illegal activities of course). If trading on other exchanges will bring you better ROI, you will, or you have to trade there. Nash is not charity as trading is not charity.

But maybe Nash is going to let people withdraw usdc upon fiat without restrictions, I don’t know, that’s why I am asking.

Any thoughts from the team @canesin ?