Let me start this thread with saying i do not hope marketing will start before the withdrawal/deposit issues are fixed.
I personally think a new referal program would work well, but not a lottery program. Lottery’s may be attractive for some people, but stay about chance. If a youtuber/facebook group, subreddit could profit immediately from a user who signs up with their referal, it’s a lot more attractive, instead of just “hoping”. And those people do not currently write about nash because there is no incentive to do so. This is also why binance has been so extremely successful. They had a very powerful referal program that gave 50% of fees to the user who refered him.
While i like this method, it would decrease our daily dividends, so we have to think of something that pleases both the community and all the content creators out there to start writing about Nash, so the world discovers the pro’s about Nash.
So here are the options i thought about. Team could buy nex or use unstaked nex to refer people:
Users who sign up through a referal link and make a first trade get 2.5 nex, and the referer also gets 2.5 nex. I like the idea of forcing new people to trade to get the reward, as it learns them the simplicity and power of the platform. It could be marketed with “refer people, earn 5 nex together!” It could also be made in dollar value, but i dont feel it sounds attractive enough to say “refer people, earn 5 dollar together”.
Users who sign up through a referal link and make a first trade gives 50% of trading fees to the user who referred, that slowly goes down to 10%. this would have an impact on dividends as i said before, but we need content creators to start posting about nash.
I really think most real users can come from powerful referal programs.
Do you have other idea’s? Let’s share them!
And i also got a other marketing idea:
I think it would be great for nash to advertise on reddit. with reddit advertising, you can target specific subreddits that can see the ads you post. so it could be targetted to all users of the coins who are listed on nash, and to the popular /c/cryptocurrency and bitcoin reddits.
Let’s hear it folks! What’s your idea for good marketing?
–> every new user costs 5$. This limits your newly referred users to the amount you dedicated for this marketing program. The lottery system was more cost-efficient and the incentive seemed more attractive than getting 5$ IMO.
My impression is that most people don’t really care about their funds being in custody or not. That’s where Nash should start getting new users. After the greatest technical hurdles have been overcome, Nash Founders/ Ambassadors/ even Community Members should dedicate (more) time to visit meetups, devcons etc. to talk about this. This way they don’t even need to promote nash. Smart people will be able to find out that nash has a solution for that.
most projects that do this kind of referal program did it with tokens they put aside. nash doesnt have free tokens for marketing i think, and therefore this could become expensive yet. for referring people 5 dollar could be atrractive as they could potential refer a lot of people and earn extra nex (that grows in value and dividends) in the future.
i also like the idea of marketing the non custodial aspect of nash, but i wonder how thats easy to do, since as you said the average user doesn’t care as he’s not aware of the issue
maybe some ad banners like “dont let exchanges take profit away from you, take back control”. and then cross the word "exchanges and put “banks” under it.
When those referred users are going for trades in a total volume of more than 800$, nash has the invested 5$ back. But I have no idea how many users are going to trade more than 800$.
What I really like about the NEX token giveaway to referred users is that they have an easy way to get some NEX token. When they stake the token it is possible for them to join the community in the future. Therefore they don’t have to go to another exchange to unlock the community feature.
My favorite platform to see nash advertisement would be the Brave Browser. They say that they have more than 10 million monthly users (Link, Dec 5 2019). Because the Browser is related to the cryptospace, you have the perfect audience for advertisement from this area.
Brave is a nice suggestion!
800 dollar wont give them 5 dollar back though, since dividends is also paid out to nex holders. I could suggest a minimum trading volume to get the nex, but i dont think if you require 1000 dollar to trade, that the offer to refer is still attractive.
But i do think the key to success is a very attractive referal program. It basicly allows the internet to do most marketing for you, as youtubers/ bloggers/ redditors/ people in chat rooms, to talk about nash.
If the trial for ERC-20 tokens is a success, assuming the tokens are tradable and satisfy legal requirements, this would be an interesting asset to list. Might pique the interest of quite a few redditors in the process and effectively be a form of free marketing for the exchange.
Listening of new tokens -> Information by Email to all people with a nash account about the listening -> following the listening nash could make a trading competition similar the one Kucoin did. I liked that a lot and it brought good traffic and new customers to Kucoin
An advertising on sites like coingecko etc. would be nice
somehow nash should make sure to be recognized as “home exchange” for NEO / ONT Community
The idea of the Nash team to create a pool for Market Makers is very smart in my opinion. To onboard influencers on social media it would be awesome to have a ‘pool’ of staked NEX for them. Dividends could be distributed according to the volume their referrals bring.
To support this it would be nice if there is a referral dashboard where is displayed how much volume their referrals made opposed to other referrers.
Maybe it is best to kick this off with a couple of big influencers.
There is one downside that would need some more thinking: This program gets less interesting when there are more and more referrers getting on board with referrals that bring volume. Everybody will have to share the pool with more people which means a lower dividend percentage wise. On the other hand, when there is more volume the dividends will be higher sats wise.
i think it should go without differentiating on volume the referred person makes, just on the amount of people alone. But require that these people do a trade before the referal counts.
High matching engine usage is determined by two of Nash’s core verticals:
Exchange
Targeting large established platforms with large communities is the way to go. According to wikipedia, Reddit has 330M users (as of 2018), and as @Symiaq shared, Brave has an est. 10M monthly users. When it comes to existing ‘traders’, I think retail investors account for a small market share of daily/monthly trade volume. Market makers drive the lion’s share of trading volume in the top 10 legit exchanges (https://www.bitcointradevolume.com/) so it’s somewhat re-assuring Nash has focused on their liquidity partners first.
I really hope the liquidity partners focus all efforts on BTC and its trading pairs. In the past 24hrs BTC/USDC, BTC/ETH, and BTC/NEO pairs had a combined trade volume of $82,676,833 (using the legit exchanges for ref.). This doesn’t include BTC volume from spot-traded exchanges listed above ($1,223,888,439). Nash only needs to capture a small piece of the pie, and it will be very successful.
Payments @fabwa mentioned they applied to be a payments solution on Shopify which reaches 1,000,000 accounts worldwide, and is the third largest retailer (after eBay and Amazon) in the U.S. (Source). Multiply the number of accounts by X numbers of users per and this can add up really quick. I still don’t see why people would utilize their crypto assets for payments, but I may either be misunderstanding the narrative or am not seeing the original pain point this solution seems to solve.
The sentiment might change and people like me will start using Nash as their main “bank” account. As Harry said, you can use USDC or other stablecoins as “dirty money” for spending. Question is: Does a payment with USDC need to go through the ME or is it already the end of the line?
think the idea with payments is to make them free when denominated in tokenised fiat … the whole industry could move that way with state channels
BTC>USD-C> NASHPAY that makes ME fees on BTC conversion.
if u pay with usdc to a merchant in fiat using pos terminal … then ur going to incur a fee from the processor and perhaps the forwarding of the balance from nash to proccessor
The value should be 8000$.