Integration with Uniswap or one of many AMM's

Exchange
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#1

Hey Guys,

I’ve been a long time lurker in Nash telegram group. Been with Nash since ICO and it’s great to see that Nash is gaining some traction with the new strategy and roadmap.

Couple of weeks ago, I saw a suggestion about integration with Uniswap from one of the community members. I think this is a wonderful idea so thought of writing a post on it. Apologies for the lengthy post.

In my view, if we can fully integrate Uniswap (or one of the other AMM’s) into Nash mobile this could bring in a lot of users. Currently we have NEX (which is a registered security) offered on NASH via Uniswap. So I presume offering other Uniswap tokens should not be a problem from a legal point of view. I think that this approach can be mutually beneficial to all parties involved.

Uniswap users get more exposure- mobile users, FIAT ramp enabled exchange and an MPC powered wallet.

Nash could become one stop shop for all things crypto. Main benefits being:

  • Ability to offer tokens which otherwise would have been impossible (due to regulations, liquidity etc).
  • This could bring in a lot of users and subsequently volume and liquidity for the tokens listed on Nash.
  • Perhaps a new revenue stream as well if Nash can charge a small percentage.

Uniswap integration is already available so turn-around time hopefully can be quick.

How does this bring liquidity to Nash?
One of the main challenges apart from the legal aspect has been ensuring liquidity.

As far as I know, Uniswap doesn’t have their own mobile offering. Integrating Uniswap into Nash will reduce the entry barrier for a crypto newbie. Once the user is on Nash, if a token is available for trading on Nash, it isn’t far-fetched to think he would prefer Nash given the lower fees.

Also, for early listing of new ERC20 tokens, Nash wouldn’t have to worry about arranging liquidity. Typically new offerings are listed on couple of exchanges before it goes mainstream. Let’s say token X is listed on Uniswap, Nash and Gate.io and user only has an account on Nash and Uniswap. I believe, given high fees on Uniswap, arbitrageurs will take care of market making on Nash. For instance, as an arbitrageur, I can post Ask price on Nash which is lower than Gate.io but higher than Uniswap. Similarly bid price would be higher than Gate.io but lower than Uniswap. Arbitrgeur can make profit by selling on Nash and buying on Gate.io and vice versa.

For this to work, Nash channels/ Trading wallet will have to be integrated with Uniswap. Existing swap screen on Nash mobile can be extended to show quotes from Nash and Uniswap with the best quote already selected. Can someone from Nash team comment if what I propose is feasible?

Disclaimer: I’m no trader. I usually buy stocks/crypto and pray it goes up. So, all this could be BS in which case please let me know.

1 Like
#2

Uniswap works quite well on mobile actually. I use it on Metamask daily along with Enjin wallet… so there are options.

If I were to pick on one area of this it would be support. New users and Uniswap dont mix well. You have gas wars, slippage, stuck tx due to nonce… it’s not fun to lose your gas fee because slippage was too low or a bot front ran you.

For Nash… the influx of people to use that on Nash and expecting support when they have issues would be overwhelming.

Just my 2 cents tho

5 Likes
#3

Fair point. Influx of users could be overwhelming initially. Perhaps, experienced users in the community can be enlisted for help?

But this is also a good thing. This could bring in more volume for tokens listed on Nash. Recently, several tokens were delisted due to lack of liquidity- BAT was one of them. Uniswap has a 24h volume of 3.5M on BAT. Actual volume might be less because Uniswap counts deposits and withdrawals towards volume.

Even if we consider 1/3rd of the volume shown thats still quite a lot. By integrating with Uniswap, some of this volume could flow into Nash.

LINK has a volume of 7.6M on Uniswap vs 66K on Nash.

#4

But volume made by Uniswap-powered pairs on the Nash app wouldn’t count towards Nash volume. In fact Nash doesn’t pocket fees on the NEX/ETH pair of its mobile app: token holders don’t receive dividends off it. So having specific pairs for convenience - especially the NEX pair - is interesting, but anything further makes no sense from a business standpoint.

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#5

Hey Marc,

Thats true. I meant if Uniswap were integrated into Nash, users buying BAT/LINK on Uniswap would rather buy it on Nash (given the lower fees).

For this to happen, trading wallet/ Nash channel needs to be integrated with Uniswap. Currently, as I understand, Uniswap trade happens from personal wallet (?) Furthermore, for tokens available on both Nash and Uniswap, swap screen needs to be enhanced to show quotes from Nash vs Uniswap with best execution already selected.

#6

Last I heard Uniswap was building their L2 on Optimism.

Nash is taking a different path: have you read their 2021 strategy blog post? Crypto is just getting started, lots of emerging business possibilities, but no one company can tackle everything at once. Finding a market fit and turning it into a profitable business - however specialized - is really the way forward IMO. Then you grow from there. Nash is doing exactly this; I think we should trust them with vision and execution.

#7

Yep, I have read the 2021 strategy already. Its definitely a step in the right direction. IMO, If we wish to compete with the bigger exchanges we will have to be a bit creative. Listing NEX powered by Uniswap was great and I thought this could be leveraged further to gain more traction. Anyway, it was just a suggestion!

3 Likes
#8

Always loving quality posts and discussions :+1:

6 Likes
#9

yeah

1 Like
#10

Good to see that several of DEX’es including Uniswap have been integrated into Nash. This should hopefully drive up the volume for FIAT ramp’s. Below are few things that I feel can be improved:

  • Is it not possible to integrate the trading wallet with Uniswap, Sushiswap etc? For a new user, it might be confusing that they have to use trading wallet in some cases and personal wallet in others.
  • Why list only few tokens? I think value is in having tokens that are not available in large exchanges. I do understand that some of tokens are clear cut scams but buying is ultimately responsibility of the individual and Nash could have a disclaimer to that effect.
  • Markets are currently shown separately. As a user, I don’t care whether I buy on Uniswap or Sushiswap. It would be nice if we can have an integrated view with all tokens and Nash automatically selects the market with best execution. Another added advantage of this would be that Nash could list new tokens based on interest and capture some market share.
5 Likes
#11

I totally agree, that it is great so see the integration of several of DEX’es into Nash. This will attract many more users and will bring much more volume to the fiat ramps, which is great for nash stakers.

I like the way nash has implemented different markets, as this is also common with online brokers. However, seeing this in an integrated view would be problematic as you often have the same coin pairs in the different markets.

However, it would be really great if nash could integrate a feature that automatically recommends the best markets for a chosen trading pair. I am sure this feature would also be beneficial for the nash exchange!

6 Likes