Holding since ICO, whats happening with NEX?

Exchange
#1

Hi

I’ve held NASH since ICO and had high hopes for it, but also stepped away from crypto during the bear market and havent kept up to date. I come back and see NEX has gone nowhere. Now the community seems pretty dead, and the comments I read on twitter are all very negative

People are saying its dead, that the founders are just taking the money and running etc.

I know this project was solid to start with, and as with any startup it doesnt always work, or takes a long time

Can anyone give me any more info on what might happen with NEX? I know they changed the whole direction of the business which people weren’t happy about

Is it dead? The chart doesnt look good. And why is it getting a bit of a pump right now? Is that just because its so close to the bottom!

Any info would be great

#2

The L2 DEX on which Nash was based, never took off with the users. High blockchain fees, bugs with opening/closing the trading channel, limited regional availability, various UI glitches and not listing most of the popular alt coins were one of the prime reasons that the DEX failed.

Nash Link (crypto/fiat payments) also never took off as far as we know. There was a brief moment when Nash Link was in the spotlight and Nash actively promoted it but nothing ever came out of it.

In January of 2021 the pivot was announced and this time around the focus was on L1 buy and sell, i.e. the fiat on/off ramp. However, there are lots of similar platforms and often time these platforms provide more services than Nash (credit card payment, trading of the bought coins, staking…)

As a major move in this regard, Nash partnered with AAVE to become a white label fiat ramp. However, some of the AAVE users complained that Nash doesn’t have a competitive rate here.

Currently, the focus is on Nash Earnings. This is a savings protocol based on AAVE in which Nash is an intermediary between fiat and AAVE protocol thus enabling fiat savings with AAVE in the background. This seems to be the first Nash service with wider adoption.
However, Nash is a new player in this domain and still lacks many services from its competitors.

The other problem is the fact that the revenue sharing model is not updated for the services Nash currently offers and it is still largely (almost exclusively) based on the L2 exchange which has a very low volume (1.8 mil in the last 30 days).

New Nex tokenomics were unofficially announced back in August (we were “weeks away” from publishing the new tokenomics) but like most things here this was delayed as well.

One of the major plans includes a new round of financing the project, Series A, which will seek additional financing from VCs (not from retail like in the case of ICO). I am not sure about the outcome here since after 3 years of this project (2 years of the mainnet being live), Nash has a low userbase and it struggles to generate profit so I am not sure what would convince the new investors to invest millions of dollars into this project.

I hope I lack some game-changing info but this is how things are right now.

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#3

The outlook is actually incredibly positive, if you follow the Nash blog, official announcements and communications from team members.

Twitter trolls are not indicative of general community sentiment.

Is it dead? The chart doesnt look good. And why is it getting a bit of a pump right now? Is that just because its so close to the bottom!

The chart is not indicative of anything, due to the low volume and liquidity of the token. The price can pump when just a few people start buying a large amount of tokens. In this case, it seems to have followed an AMA in the Nash Price Talk Telegram channel which increased positive sentiment about the project.

People are saying its dead, that the founders are just taking the money and running etc.

Complete lies unsupported by any evidence whatsoever. Follow the recent blog posts for more information on Nash developments.

Can anyone give me any more info on what might happen with NEX? I know they changed the whole direction of the business which people weren’t happy about

Most people are incredibly positive about the new direction. An article on NEX tokenomics will be released in the future describing any changes (if any) to token revenue sharing or utility.

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#4

Thanks @garda for the info, very useful to catch me up

Its a shame that its still below ICO price after so long, especially when so many other projects have done so well, and keeping money in BTC or ETH would have returned so much more in this time frame. I did very much have faith in the project, and felt that they registered as a security were going to give ea huge advantage. But I guess other projects come alone and take the spotlight and its a bit of luck really for a startups

Its hard to know whether to carry on holding or not!

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#5

HI @robodelfy

I too have held onto $NEX since the STO, however, have paid close attention to and used the platform since, and overall I am a very happy user, and excited about the future!

I don’t unfortunately have the time to write a lengthy, well worded reply like @Garda, I agree with a few his points, even if I think he may of been a bit harsh…

In my opinion, Nash is literally bursting with potential though and I’m excited about the direction they are heading, even though I live in a country that can’t currently use all the services, hopefully that changes with the Series A

Like @Garda pointed out, there has been some drawbacks and issues, I have experienced my fair share, as you would and should expect from any start-up, however I personally believe the whole Nash team has weathered them well, and that’s why I am still a happy Nash investor, I see a bright future :slight_smile:
The regulated approach they took will pay off eventually, NEX has always been a long play for me anyway!

Your correct in mentioning missed opportunity cost, ie, still below STO price… that is hindsight though and in my case, I blame that on not understanding exactly what a Security was and how it would effect $NEX

I still fully believe in the project and especially at these prices continue to add to my bags with the occasional shaving of Bitcoin profits…

When $NEX and NASH finally make some good traction, and I’m kinda banking on the 2nd half of 2022. It will take off, fly-wheel effect etc etc…
$NEX investors will rarely sell their tokens, especially if the dividends are paying…

Just my quick thoughts and personal opinion, no advice, take of it what you will! :man_shrugging: :+1:

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#6

Nash was a good idea with poor execution in the beginning - from the outside it looks like it was left for dead by the founders - who funny enough all made massive wins from being advisors to elrond (congrats to them). Once elrond went to the moon and continues to grow - around the same time Nash got worse. Just a simple observation from a long holder.
hopefully nash turns into something for the people that believed and invested from day 1.
over to the new leaders who i hope can save the abandoned ship…

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