Nash FAQ / Anti-FUD article

Hi everyone,

As Nash has gained a bit more attention recently, we’ve noticed a number of misconceptions and criticisms cropping up repeatedly on social media. We’re currently putting together an article to help community members answer these points when talking about Nash.

We’d like your input regarding questions and misconceptions you commonly see raised on social media.

The following items are already being discussed in the article:

  • How is Nash decentralized when we ask for KYC?
  • What about withdrawing funds from the trading contract?
  • How do I know that the code running on nash.io is the open-source code published on Gitlab?

Besides the above points, what else do you feel it would be useful for us to cover?

Thanks for your input,
The Nash Team

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Hi Chris,

Some questions that could use clear “official” answers:

  • How is Nash decentralized with a centralized matching engine?
  • How is Nash decentralized when they can restrict access based on location and forbid the use of a VPN?
  • How is Nash decentralized when they can just block trades?
  • Can you prove Nash doesn’t front run?
  • Can you prove Nash is “provably fair”?

Some interesting tweets of fud/misconceptions:

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  • can you share what percentage of the current trading volumes comes from your partners?
  • it has been reported that the speed of order placement far exceeds that of the most popular centralized exchanges. can we expect an equally fast matching engine? if not, how far behind is it from traditional ones? also, what kind of volumes can it currently handle?
  • not being able to purchase nex on nash but only on decentralized exchanges and centralized ones known for wash trading casts some doubts on the project. can you give us a time estimate for when you’re confident you’ll be able to list your own token?

thanks

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Just to be clear, these seem more like questions for a future AMA session with the founders. It would be best for you to wait for the next AMA thread.

In this thread we’re specifically looking for fundamental misunderstandings or criticisms that our community members will want to correct when discussing Nash on social media. The examples @Oldsport gave are good, as well as the ones in the original post, which we’ve already seen many times.

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Here is one I saw on reddit: How can we be sure that Nash is running the protocol shown on their GitLab?

A user wanted to verify the integrity of Nash since Nash is the one that generates the keys for you. I guess they also wanted to verify the version?

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How can you withdraw your funds if NASH goes under?

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bitcointalk.org forum:
[NEX] Decentralized exchange on NEO blockchain
why is nash a dex on NEO? i read it everywhere

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Someone said this on Reddit: At that point, even with the 0% maker fee, a $1000 purchase would incur probably more fees than coinbase pro.

They said this because of the amount of money/eth or whatever it takes to send funds from personal wallet to trading contract. This feels like an easy one to debunk.

They asked: Is this expected? In the future will Nash be more efficient with fees? Or will this be how it is for the foreseeable future?

I responded there as best I could.

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“How do I know that the code running on nash.io is the open-source code published on Gitlab?”

I’ve got more of a suggestion than question here Chris.

Having an About section within the dropdown menu at the top right of the exchange webpage would be great to showcase Version numbers. Clicking About would open a small tile with the needed Version numbers and a simple check to ensure it is provably verified.

ie. (example numbers)
Server Version: 2.1.3+2020-05-14 (Gitlab)
Client Version: 2.1.3+2020-05-14
Blue Check Mark to visually indicate Server Version = Client Version (Blue to match the exchange UI/theme)
Any other miscellaneous information (legal)

If possible, embedding a hyperlink within the Blue Check Mark would take the customer to the Provably Fair Mechanism used to verify the version numbers, so those who want to take a deep dive into the code have the option to do so and others who would like their peace of mind reinforced with a Blue Check mark have that as well.

Lastly if the Blue Checkmark could also be placed in the UI in a persistent location at the top similar to the lock before your URL in Chrome would be best practise. Clicking on the Blue Check mark from the main UI would open the About Tile with more information.

Blue Checkmark, Blue Checkmark, Blue Checkmark

Thanks :slight_smile:

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Here is a fun FUD attempt from reddit.

“that volume on Nash is 100% organic fake - nobody comes one day to sell/buy $750k of BTC on iliquid exchange and leave”

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and this is just the beginning, definitely “envy is better awakened than felt”, we are already consolidating ourselves and we will be the best of the best, let’s take that for granted.
NASH is technology, creativity and development at the forefront and others already know it, as a saying in the country where I live says:
“LET’S GO FORWARD”

that isn’t fud. if you look at the depth of all order books it is more than clear that most, if not all of the volume comes from nash’s partners. at present, this isn’t something we should be worrying about. it would be nice if the team could comment on this though.

Agree that it would be nice to have some reaction from team on volume and how its accounted. Especially since divitents are tight to this metric and big chunks of locked up tokens belong to founders personal banking affairs.

Those in blockchain space for few years know nash team very well. How to get a trust score for nash team and project so new users can gain confidence. Twitter also does not certify these days any new users/company.

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Sure they are from trading partners maybe, but that is not what he is saying. In his statement he is basically saying all the volume on Nash is fake since people just don’t make large volume trades then leave, but that is not the case here. These are real trades that are happening from users of the platform, it isn’t fake volume.

We’ll leave this thread open over the weekend in case there are any more ideas. Thanks for you input so far!

As i stated before in a other thread, nash needs the general opinion from crypto users/traders to change.
Dex’s are known to be slow, crappy in user experience and without liquidity.
Nash solves this, but who cares? Unfortunately no one, as people easily shove Nash away simply because it fits under the DEX category and other dex’s ruined our reputation.
(and yes, nash is non-custodial not a 100% DEX, but this falls under the same category for these people)

I’m of opinion that this is the primary problem of the space we need to address as team and as community.

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oh and some dex swap services also solve liquidity, but swaps are not really a full exchange experience. even though they can be good, have their own use cases.

I feel the article should push/challenge people to try Nash, to be full of confidence from the Nash team in how Nash will change the crypto exchange landscape.

(couldn’t edit my above post anymore so sorry for the double post)

The most reasonable fud i’ve seen Was about the nature of the exchange volume.

It was said that this volume was made by the nash itself, not real active users.

Some user stats can disprove it. But i’m not sure that it’s not true.

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