Let’s share new idea’s for a referal program here. I think Nash will probably remake a referal program in the relative near future to attract customers, as currently there is not much incentive to refer except for getting volume and with volume dividends.
I’l start with that i think nex should give away some nex tokens (if thats possible without a security license) when a user registers and stakes through a referal link. The referred person gets for example 25 dollar in nex, and the referee gets 25 dollar in nex tokens.
I also liked the idea of binance where a referee can earn up to 40% of the trading fees of the referred user, but i don’t think that’s possible with a maximum of 75% of trading fees going to nex holders.
Your first suggestion does not reward you proportionally to your referee’s usage of the exchange, so it can get pretty costly for Nash if you don’t bring actual users of the exchange.
Your second suggestion is more interesting but as you said could cannibalize the trading fee reward earned via staking.
I suggested a way to relaunch the referral program in this thread Nash pay incentive
i don’t think nash should give away nex tokens , its already so rare It was mentioned nash has some trader incentives (% of company staking rewards) and that probably good enough for now.
my opinion:
If (!) there would be another referral program this should be done after Nash has a lot more to offer than it does at the moment. After BTC is here, the exchange UI gets it’s rewok, there is constant liquidity and all account issues are solved, then, why not…
True,
But I Think it’s a good idea from Konijntje (nice name btw) to think about a new referral program, to launch in a few months. A referral program that really works in a bull market…
In the next few months, ‘if’ there is coming a new bull market…
@bunder i do not doubt crypto is here to stay, although i don’t think we will get a december 2017 boom. Besides nash with a security licenses could also tokenise other assets like stocks etc and trade those.
But to stay ontopic, i do not like the idea of more lottery’s. The nex team gave nex away in the last lottery, so they should re-do it. They still own a lot and it could be used as a big incentive to get users to Nash, and perhaps even towards volume on the exchange.
Maybe they could people refer “whales” by somehow giving a few nex tokens per x amount of volume. Maybe that sounds like a nice idea?
Do we need more lottery or big marketing campaign about what Nash really is ? Giveaways are short term busters in my opinions and i don’t thing they hold users for long. Those who comes because rewards will also gone to other place where they can participate in another one so we will loose them at the end.
Maybe a more interesting topic would be “Why do you think volume dropped?”
A possible explanation would be that people who had bots were busy during the holidays and didn’t want to let it loose for an extended period of time, considering that volume is pretty low.
My honest opinion is that people were absolutely gutted by altcoins (and crypto in general) after 2017, and that people don’t see value in most projects these days. On top of that, Nash has an incredibly narrow selection of pairs to choose from – mostly dabbling with NEP5s which aren’t overly popular in the first place.
Real volume comes from manipulators, and manipulators hunt where average retailers graze. There aren’t any retailers at Nash, so the big players don’t have Nash on their radar.
I’m completely optimistic though, because I know Nash isn’t an all-or-nothing play on their exchange. There are other valuable assets Nash has going for it. Timing will be everything, and Nash’s plan to do most things in-house is a little frightening. I have faith, though.
Well said. Your first paragraph is true for crypto in general but doesn’t explain why volume was higher in december than today. Maybe the lottery and bitcoin pairs hype.
As for your next 2 paragraphs, I couldn’t agree more.
My only frustration these days is that we don’t get to hear the team’s opinion. But I’m prettty sure it’s because they’re hard at work and know that if they start answering here again, they’ll have to answer a rain of questions.
Any startupper knows that it’s a bad idea to give release ETAs. The only way to hit deadlines with certainty is to announce a feature you have already developed. And when you don’t hit deadlines, communication becomes a hard task since you can’t make promises.
I think we should try to focus less on current volume. Arguably, the backbone of the exchange being up and running – non-custodial wallets paired with the matching engine – is more important than generated fees and user interest during the MVP. Before growth explodes (hypothetically), we need the correct infrastructure set in place in order to accommodate the wave.
IMO, the UI can still using some tweaking. New gen key management is going to be important, as well as creating impactful moves within a regulated landscape. For example (and I’m making giant leaps here), a working partnership with the NYSE in some manner will definitely attract new users…AND it’s likely a move a competitor like Binance can’t really compete with. If we’re going the way of regulation, we need to do something that puts us at an advantage. Like others have said, we just seem to be stalled while unregulated/legally questionable companies are making moves.
All this to say, I still trust the process. It’s just slow. Trying not to focus on it too much.
It was mentioned nash has some trader incentives (% of company staking rewards) and that probably good enough for now.
