Ok, now it makes sense, thank you
In accordance with the whitepaper, two options for receiving staking dividends are receiving the amount in tokens across the board or choosing to receive in one token (maybe USDC?). Will this still be possible?
Index funds will not live at launch. I think they will launch it later. My guess is their main focus is to launch and stabilize the exchange, fix all issues and begin to add new coins and services.
and just to clarify: KYC will not be required for trading on NEX, but only for staking and receiving dividends? Can someone confirm if that’s correct?
Contract checks to see if an account is whitelisted here:
KYC is not necessary for trading up to a certain limit per day ( I think USD 1000), to trade more than that KYC is required.
Great job guys, love this project, can’t wait for launch!
Do you guys know if the ICO participant will be require to do KYC again?
I would imagine that there KYC can be reuse.
Could the $1000 limit be higher in the future to accommodate those who don’t want to fill out kyc information?
I agree. A higher limit would be better for adoption. I already did kyc during token sale so this is not about me lol.
Guys, it’s a regulated exchange. Just accept and embrace KYC please.
I think almost every one on here submitted kyc docs to be part of the sale. We are discussing in terms of adoption. The average crypto trader has multiple accounts on multiple exchanges. Sometimes, people want to just get in and out and not wait for kyc documents to be approved in days. Imagine trying to switch from one coin to another to execute a trade. Certain exchanges calculate this in terms of BTC value. As the entire market cap increases, limit adjust accordingly. Will leave it up to the Nash team though.
You are spot on. We are not saying no to kyc. We are saying 1000usd daily may be low. But I trust the team. They have more experience and also want the best for Nash
Why is it a volume limit and not a withdrawal limit like other exchanges?
@Vic9t because we are non-custodial, we don’t hold user funds - we can’t limit what they withdraw or not.
@DeadPool_56 the KYC limit is not set by us, but by our banking partners. They need to be comfortable with the source of income for the company. As things progress in the future and we improve AML in blockchain those limits can be relaxed.