Liquidity mining (NEX farming) program details

That is an awesome initiative @beefrog! The community should get together and do a few calls between each other to share knowledge! There is only win on doing that!

6 Likes

deal

lets go!

Does volume on the USDT/USDC pair qualify for the liquidity mining beta program?

To Help the community on getting started we created a ‘NON OFFICIAL’ telegram channel with a 100% focus on trading and how to use the bots etc etc
Feel free to join us

6 Likes

@canesin
If someone traded the first day 70k and nothing during 6 days, will he be eligible to the prize ? or a 10k per day is a mandatory requirement ?

Stake Total 5 sec 1

1 Like

I think should be $10k average, so can have days with ups and days with down in volume - but there should be a minimum activity, like no more than 3 days of the week with less than $10k.

I just don’t want to complicate things with many details - should be fairly straight forward.

3 Likes

I think thats something easily achieved in the “Nash Trading Syndicate” channel. Maybe an admin there could pin some times ppl can commit an hour or two to for mini-ama’s related to trading and the bot leading up to Oct 1.

Encouraging those that are active traders to join us. It’s not a public group, but you can be added if you are interested. Feel free to PM me or any of the telegram admins below

Admins: @snowmonkey1992 / @beglinboy / @achlem

FABIO, thank you for the great opportunity the Nash team is offering us.

As you can already see from the questions, you have to say the exact way, clear rules so that there is no misunderstanding

1 Like

I edited the post to include all clarifications.

2 Likes

What about people who staked nex for two years but are unable to trade in their region? Any way they can benefit from the liquidity farm? Even if in small value compared to the traders?

Is that supposed to be a joke? You benefit from it by receiving 75% of the trading fees. :face_with_raised_eyebrow:

3 Likes

No it is a serious question. What about the people in 3rd world countries who can’t trade 10k in volume a day. Banking the unbanked? Yes 75% of the fees sounds good but it was just a question…

Just so we’re all on the same page, if someone had 2 stakes

  • Stake #1: 600 NEX, for 2yrs
  • Stake #2: 400 NEX, for 2yrs

would this result in a 50% or 100% bonus?

There is no malice. If 100 people in each of taker and maker participate in the activity, each person will get an average of 100 nex, which is converted to a value of $75. Unless the price increases, using nex as a reward will not be attractive.
It can only attract the stratosphere who agree with nex. We still cannot acquire a large number of users.
If the team agrees with the value of nex, then should not let nex be released at this price

Reward are proportional to generated volume, you realize that, right? So if 5 big traders do 99% of volume over the course of the program, they’ll get 20k NEX each. I’d say that’s a great incentive.

Of course, remember that they would need to have some staked NEX to participate and would need to dwarf other participants’ volume to get a high percentage of rewards, so I think the community has a good shot at getting a decent chunk.

Its incentivized trading not farming

1 Like

are you happy with average $75 of reward?
in your case, others and you and me share 1% = $150
if the market underestimates the value of nex, they also don’t understand the value of rewards.
Why do they work hard to trade?

1 Like

1% of 100k NEX is 1k NEX, so $750 at current market value.
But if let’s say 50 community members qualify but make up only 1% of rewards (i.e volume), it means $500k+ volume is 1%. In other words, those big traders would have created $50M+ of volume. That’s more than $1M daily for more than five weeks and more importantly, many could grow accustomed to trading on Nash and actually like it and appreciate its non-custodial nature without DEX limitations. Yes, I’d be happy with that :slight_smile:

4 Likes