Minimal Viable Product (MVP) and its purpose

Hey Nash Community,

I’m enjoying reading the feedback, criticisms, and suggestions for Nash. It’s amazing to see a number of you offer solutions and quality insights from your areas of expertise. I know there’s a growing displeasure with the lack of volume and (insert your personal frustration), but remember this is launch is the minimal viable product (MVP).

There are many articles online about MVPs and their purpose - here’s one:

Minimum Viable Product, or MVP, is a product management concept that works great when bringing a new product to market.

The essence of MVP is to deliver the bare minimum functionality that will accomplish the need you are trying to fill for your users.

If you were to itemize each feature of your app, ask yourself, “Could my users still get value from my product without this?” If the answer is yes, minimum viable product says to cut that feature from the initial scope.

This may sound extreme, but the practice of MVP causes you to think hard about what it is your users actually NEED and what functionality is important vs. fun, cool or nice to have.

Creating an MVP product does not mean you won’t ever add in those nice-to-have features. It just means in your first release, you are laser-focused and prioritize what is truly important. In later releases, once you get user acceptance and feedback, you can decide what is the next best set of features for your product. (read the whole article here)

Summary - A Mimimum Viable Product exists to help companies/developers build a product that will meet USERS’ needs. If you have access to the exchange I encourage all of you to provide feedback for available products in the respective threads. There are plenty of community members that still can’t access the exchange or stake their tokens. Consider it an opportunity to contribute to the platform; I live in a region that will not have access for the foreseeable future due to slow moving legislation.

On Volume
Yep, it’s almost non-existent. There’s a lot of external noise and bad actors deriding the exchange due to it’s low initial volume. We all know there needs to be order book depth in order for the community to trade - Nash is working on it, and some of you have also offered to help as well (great!).

The exchange needs users to achieve volume - Fabio mentioned they haven’t even contacted STO registrants (or referral signups) that the exchange is live. There has been zero promotion from Nash and it’s partners. Why? To get the existing products refined for a hard launch. MVP iteration is key.

Building a FinTech product for worldwide consumption is a marathon, not a sprint.