Nash Exchange questions

Hi there,

I got a ‘few’ questions and ideas, after thinking about the exchange itself:

  • Will the exchange have a function to set up recurring transactions? For example ‘buy 50$ worth of BTC every week’

  • Do you have plans to implement more (audited) stable coins for other currencies?

  • (idea) An email-information, when my staking expires + auto renew function

  • Is it correct, that the expiration time of the staking won’t be exactly one month, since the contract uses
    SECONDS_PER_MONTH = 2629743 ~ 30,437 days

  • Will there be a bounty program for users who find matching engine or exchange errors?

  • Will there be a trading pair for every token on the exchange? - especially when you use the simplified exchange

  • If yes, how will the exchange handle trades - for example from the token ‘0x’ directly to ‘omg’ - since there is no direct trading pair.
    If the exchange therefore automatically trades e.g. ‘0x’ => ‘udsc’ => ‘omg’, will the exchange use the most liquid pairs (eth, usdc, neo) or the pairs, where the outcome of the trade will result in the best possible $-value due to the liquidity?

  • If we buy from a banking partner - will there be any proof or receipt?

  • What happens if the banking provider has problems with paying out the crypto or fiat - Do we have to clarify the problem directly with the banking partner or with nash?

  • If I sell my crypto via banking partner to fiat money - will nash send my cryptos automatically to the banking partner to cash out? Because if I have to send them manually, it could be too complicated for unexperienced users who don’t know how to use crypto

  • Will there be a tradingview chart or an in-house built chart viewing tool?

  • Do you plan to visually mark big orders on the trading history like bitfinex? It would give direct visual informations for a trader, that a big order was executed

  • Should’t the arrow-colour be the opposite? When a taking-buy order is executed, it would drive the price up - so it shoud logically be a green arrow

8 Likes

Very good question ! :+1:

Great questions! Looking forward to the replies :smiley:

Very solid questions indeed. And a sharp eye with the arrows, haven’t noticed that before :+1:

The image is probably suggesting that a sell order is filled (so a user did buy), and therefore it makes the price go up. And vice-versa. But is very counter-intuitive indeed.

@canesin I think the questions in this topic got a little lost :smiley:

I saw it but we are so close to have user testing that I don’t see much of the value of getting into those details as they are not final. Whatever I reply can completely change.

Ah thanks - yeah I thought it would give us a little more informations about the exchange, but you’re right, since the beta will launch soon.

But for the beta i have a question, since i think it wasn’t discussed on the forum - Will the beta have implemented the banking partners for buying real tokens, or do they also just use the testnet during the beta with testcoins & test creditcards?

@Camora the ramps are not in the Beta, we are comfortable with only our internal UX testing there.

3 Likes

So is the beta a TestNet with fake numbers and tokens or will real tokens be used?

@Hatertots that has been answered multiple times here weeks ago: the beta will not be on maintnet. It is the real ME, so real numbers, people trading against each other.

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Thanks for the response still, I either missed it or didn’t understand it earlier :slight_smile:

Final details will be public tomorrow but this is a rough approximation I made 12d ago.

Can somebody let me know what did I do wrong here?

I set a stop-loss order to sell ETH if it reaches 1298 USDC. At the time, the ETH was trading around 1310 USD.

40 minutes later, my order hasn’t been filled but the price tanked much lower than my order so it should have been completed.

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It looks like you didn’t set up the stop-limit order correctly. You seem to have treated it a bit like a stop-market order, which will execute immediately when your stop price is hit, matching with existing orders in the book. At present, Nash doesn’t support stop-market orders.

A stop-limit order has two components: stop price (which triggers the placing of a limit order) and limit price (the level at which that limit order will actually be placed).

You set both the stop price and the limit price as the same value. This means that when your stop price of 1298 was hit, a limit order was placed on the book at the same price of 1298. However, that limit order will only fill if it can match at that price. And if you look at the recent trades, it seems that the price actually dropped below your stop price immediately, the next trade below being 1297.99.

So your limit order at 1298 is still open on the book and will fill if/when the price goes back up.

Until Nash implements stop-market orders, you will have to use stop-limit orders and set the stop and limit properties appropriately.

7 Likes

Thank you very much for the detailed explanation!

1 Like