Here are the things I can think of that will drive volume:
BTC pairs: these will drive traders as the only decentralized/non-custodial exchange to have real BTC pairings.
Nash Pay: Any Nash pay transaction that involves going from 1 currency to another (say ETH to USDC) will go through the exchange and push some volume.
Marketing: Marketing will likely kick up hard after BTC pairings and Nash Pay, which will in theory drive more people and volume
All in all, in theory, the volume should grow as time goes on and the product expands. I expect to also see a referral program coming after Nash Pay and BTC pairs. If a team member wants to give their insight as well that would be great, I just wanted to share my thoughts!
There will also be market making programs conducting by investment firms to offer the best price! On the website you can find some companies like FATHOM LABS doing market making, and other partners of NASH that are investment companies. So I think you will have a % of the volume that will be from real users, either using NASH Pay or trading directly on the exchange, and the rest will be market making firms.
My issue with NashPay is that people are getting hyped about the impact it’ll have on returns without asking themselves if it’ll even be adopted. I’m as big a supporter as anyone else here, but actual usage in crypto is rare…ultra rare. I know the team has plans to facilitate this, but it won’t matter if the timing isn’t right. NashPay has to happen at a time when people are ready for it.
overall, i think hype for nash isn’t really there, even with bitcoin coming soon. investing more in nash at this point would be quite risky given the uncertainty of everything. the company may do well in the future but right now, my expectations have definitely lowered and don’t feel that confident in the project as i once did.
many startup projects fail so it’s always a risk. just don’t bet your house on nash.
Ethan Fast during Q4 regarding nash exchange volume: “I am just as confident, if not more confident than before personally. Nash has demonstrated that our APIs are fast enough to support liquidity providers and market makers, next steps are to introduce high volume markets (bitcoin, litecoin, dash, etc.) and to partner with these providers and makers in larger amounts, personally I am very confident and im sure fabio may have more to say about this”
-Fabio and Tom had reassuring words to add on what ethan said.
I think once GA comes the whole crypto realm will be shook, and volume will follow decently 3-8 months after GA. There is so much going for this company, seriously. Just remember innovation always wins, you can’t stop it. First they laugh, then they sit back and watch, just to eventually join the greatness. A lot of people who were once invested are on the sidelines seeing if this company can pull it off, and will soon come back.
This is my first post in the community:) been in the shadows for 7 months.
I agree with this. Nash pay launch and its swag store will probably follow the same path as the exchange launch: short term pump before people realize it’s not very usable yet.
However it’s an additional feature which could allow Nash to snowball in the long term.
I’ve created a topic to foster such discussions if you’re interested @pplvee.
What would have actually been an instant game changer is if Nash pay was the equivalent of an Apple pay. Or better yet, today 95% of my purchases in brick and mortar shops are contactless using a Visa card. Give me the opportunity to pay with my cellphone and Nash pay instead. I initially thought this was what Nash pay was about, as this topic shows…
That is a possible future for NashPay but it would be a distant one. They would need banking licenses or banking partners to “issue” bank accounts and digital debit cards which could be loaded onto Apple Pay to use your crypto for daily purchasing. In essence using Apple Pay as the payment rail and loading your Nash Account as a banking account to perform all transactions.
Also the transactions would likely be exchanged to USDC before being transacted if you did not have an adequate amount for a transaction and you could have a predefined order of which crypto assets to liquidate to complete transactions in these circumstance.
All in all I’m fairly sure the team is aware of the potential to leverage an existing digital payment rail like Apple Pay to give practical function and major adoption to Nash Pay, it will just require some time for the tech to be fleshed out and the regulations and licenses to catch up to our aspirations.
I’m not confident that the addition of BTC will make a huge difference in trading volume, though it likely will gradually attract some of the more hardcore DeFi enthusiasts as they learn about it. I’m more of the impression that a sustained increase in volume will draw attention, thus further increasing the volume. The question is, what’s 2 or 3 effective strategies that when combined will keep the daily volume above 1 million for several month(s)?
All I can think of is a bunch of the nash community running taker bots, to help compliment whatever plans Nash has to increase user adoption and volume (if 500 bots had a measly $5 each and made 50 trades, that’s roughly our all-time high volume?) It’s a critical phase where small contributions make the biggest difference. I’d love to hear if anyone has other ideas.
I feel that once volume reaches a cetain point, it will just explode (e.g. if it reaches 10 million daily volume, then people will become very tempted to buy and stake NEX, and the act of staking will encourage them to trade only on this exchange; the more tokens we have listed at that stage, the better). Going from GA to a consistent 1/3/5 million is the daunting part. As those people buy NEX, the token price increases and everyone sees it performing like a beast on CMC, which is pretty much free marketing.
Nash has a lot going for it, it’s just a matter of identifying obstacles and plans of attack - as to circumvent obstacles and maintain momentum after kicking things off.
i agree with you, and i personally think it would be great if nash could:
Get quite a few more coins on the exchange.
Try to talk with the team of hummingbot to try to integrate it into nash, to drive volume by community fans of projects. (Hummingbot makes teams pay community members to provide liquidity) This would be great incentive to get extra volume boosts on Nash.
Iron out the bugs with highest priority.
Do some marketing.
And the most hopeful is indeed that the volume should be a snowball. if nash works and works well, more people flock to nash, seeing its pro’s (IF BUGS ARE IRONED OUT) and then keep using it for its speed, good UI and owning the crypto themselfs.
I said “equivalent of Apple Pay”: I don’t want to pay with Apple Pay!. Also, never talked about “digital debit cards” (I actually believe they will soon be replaced in favor of cellphones).
My point was the name Nash Pay misguided me into believing it would be a product to pay in points of sales and I believed it made more sense in terms of adoption.
i would really love to see nash spending money on more projects to list as the more tokens the more attractive it becomes to come to nash.(although not the only reason ofcource, and also depends on liquidity)
MCO, CRO, MKR, VEN, ZRX, KNC, NEXO, GNT, ELF, MANA and more.
(not named as good projects, just examples of projects with trade potential).
Guys, don’t forget NEX listing! I think that’s the most critical step toward big volume. It would have a huge impact on the positive feedback loop of the ecosystem of NASH (NEX price increase -> draw attention -> more people using the exchange->…).
And it is also a big milestone on the complyance side of things. It would also make it possible to list other securities!
Personally I have had issues selling ETH for USDC as there was no liquidity. I actually thought USDC would be similar to USD and I can just trade 1 to 1 whenver I want but I guess I was wrong.
I do believe BTC will help volume as probably many people saved their BTC on Nash already (team could tell better than me) which is half way before actually trading well unless most people on Nash prefer to hodl.
Sure, that will be a huge thing when it happens. But it might take a while, which is why I don’t think we should depend on it for volume. BTC trading is the main goal for now, as well as LTC, BCH, DOGE and other blockchains.
Agreed. I feel as though a NEX listing is the furthest event on the horizon. Too much regulation for a digital security to be listed in full compliance.
I really hope that the issues with transfers will be solved before BTC pairs arrive. Otherwise the BTC hype will not last long in my opinion, plus users might not come back if the first impression is bad.
You said it yourself already, that in order to do that, Nash needs a security license.
That won’t happen any time soon, being realistic. We could talk years.
However, nash is one of the few candidates that CAN get it, because recent sec statements have said they favor non-custodial exchanges. https://bravenewcoin.com/insights/regulators-give-nod-to-non-custodial-exchanges
That, together with KYC and trying to list tokens very carefully is quite a good sign. That doesn’t take away that basicly no crypto exchange has a security license, unless you count those who dealt with stocks and now deal with crypto.
Thus, it’s probably safe to assume that nash won’t be trading security’s (and therefore NEX) in 2020.
we value your voice! 