Since a few hours Season 3 of Nash League is over. Congratulations to all participants from my side. I hope you made some nice profits with your prices and your trading strategies.
I’m interested what the communities opinion on the current settings of the Nash League is. What are your most beloved and most disappointing features of the Seasons? How are your feelings as participant during the Season? What would you change?
Just leave a comment below with whatever you come up with, I’m curious about any opinion.
as a person who joined all nash leagues and the liq. mining contest before as well i would atm slithly favourize the ordinary liq. mining. Overall the nash league is a fantastic idea, but i think we would need some changements like a max. cap per team, etc. to make it a real league. Pretty difficult in praxis to find a good setup. But for me at the end it is important to get rewards for my volume somehow.
@Gorlim1981 you favor liquidity mining because of the higher received rewards or because of the design itself? Like split between maker and taker volume (prices separated between those), no squads, NEX as rewards, …
At the moment I’m not a fan of the following settings of the league:
Current implementation of squads:
I don’t think there is any competition between the squads. As we have seen in the passed season traders just wait until the last moment and join the squad with the higher gained volume. Traders who joined a squad beforehand feel fooled.
Also that we had a third squad this season, which created only 15k volume over the full period of the season could theoretically have won a price, if we would have met the volume goals. I think it wouldn’t be fair to distribute a price of 3.5k USDC towards a squad with 15k volume.
NEX rewards for newcomers:
It is quite interesting to see that on a regular basis new traders join nash and some of them create a good amount of volume. But the volume of new traders is quit volatile. On week two someone made with 70k volume about 900 NEX and the other week someone with 500k volume only receives 550 NEX because of the randomly appeared higher competition. Personally, I think this not a fair way to welcome newcomers.
Maybe a switch from offering NEX token to all rookies from one week towards a system, where each rookie has his individual amount of NEX token which can be unlocked with different volume thresholds over 7 days.
Value maker and taker volume equally:
In my opinion nash currently misses market takers. Therefore, it could help to value taker volume a bit more than maker volume. This could maybe be done with a raised exponent for taker volume, which counts toward the calculation for the prices.
Missing incentive to trade smaller markets:
Smaller markets like NOIA/BTC or the delisted NEO/ETH market have a lack of traders. Generally, they are not that attractive because you always sit in a volatile currency. Markets like BTC/USDC or NEO/USDC don’t have this problem. Therefore, it would also help to incentive volume created in those markets more. Maybe the same way as with the maker and taker volume, to increase the exponent from volume created in those markets, which counts towards the calculation for the price.
Note: I’m only providing taker volume and also trade small markets, so point 3 and 4 would be a benefit for my trading style.
@Symiaq for the design itself. I prefered that taker gets a higher share of the rewards, yes. Further i liked the idea that nex stakers get double rewards. Kind of an additional utility for the token. The Squad idea is in theory very nice (I had the idea that different on nash listed project communities could compete against each other…like Team Neo, Team chainlink, etc.), but as said and seen in the first 2 saisons there is no real competition between the squads. Very difficult to achieve a fair and interessting nash league, i feel. As payout currency i would definitely stick with USDC.
I’m not able to trade on the exchange but as an observer, the start and stop is too abrupt. There needs to be a better way to give perpetual rewards based on avg daily volume or something of that effect. Maybe it is a static reward delivered weekly and a monthly reward for other achievements like highest PNL, most volume /avg trading balance, highest avg volume on most pairs, etc.
We see the effect the program has, it just needs to be sustainable IMO. This may not be something they want to pursue as things are changing and developing though. Cant start a program like this if it’s not meant for longer term, which would explain why this competition isnt guaranteed to continue.
I know anything regarding the L2 is low priority, but I participate in the league mainly for profit. It’s hard to know what a trading league may experience during a bear market, but the past half year has been profitable.
I think limiting teams to a smaller number can make the league more exciting and unpredictable (3-5 members).
From start of season to payout can be as long as two months (feels long) - we live in a society now that thrives on immediate feedback, and I think getting the reward payout upon target volume completion would be beneficial as well
Incentivized trading is common across ALL exchanges, and Nash League is a version of that. Why not tweak it some more so that it’s competitive enough to win over other market makers/traders who are focusing trade on any of the listed pairs?
