Just in case someone is interested:
According to NovemGold, the gold-backed NNN token will be listed on NASH.
edit*:replaced link
source: https://blog.novemgold.com/nnn-token-to-be-listed-on-the-nash-exchange-on-friday-3-july-2020/
6 Likes
@carla Maybe you could add the above link
- twitter: https://twitter.com/NovemGold
- homepage: novemgold.com
to your AMA post in order to quickly find some information about NNN!?
1 Like
as far as im aware this project had 2 tokens. NVM not being the gold backed token, but the utility coin that gets you discounts etc. Will NVM also be listed? Or just NNN?
NNN is the only token being listed currently.
2 Likes
Novem always said there are 6-8 weeks needed in order to list NVM once NNN is listed
I took a look and my feedback is negative. As a not professional trader this is too complex. It took me 3 minutes to find out how to set the price for 1 gram. First I need to look up the price for one gram of gold, divide by 100 as 1 gram is 100 NNN. When I look at the order book the prices are way up from market gold price I find online. Are am I wrong?
Second I have no experience with USDC. To start trading I first need to go to a different exchange with free sepa or debit card deposits. Transfer it to Nash using the token with the least withdrawal fee. Pay again a fee to deposit to traders account.
The success of some of the biggest companies, services and apps lies in their simplicity. Like buying 1gr of gold in 1-click. Trading on the N?ovem website would be so much easier. i give them euros, they give me NNN tokens. If I give them NNN tokens they give me back money. I can’t convince gold buying people from outside blockchain to switch.
I’ve been reading here some time but no one questions the user friendliness for average Joe. Just my thoughts.
8 Likes
you make a fair point, Rahx.
Perhaps nash could implement a system for this specific orderbook that shows how much gold you get in brackets, or when hovering over a sell or buy order etc. That would be really cool and add simplicity to the platform.
There is also a premium on the prices, and indeed the 100NNN being 1 gram. It’s a bit complex.
However for your experience with USDC, nash should make it easy to buy and sell USDC with their own fiat ramp soon, so that pain point should be solved soon enough.
2 Likes
The current gold price per gram is around 57 dollar. According to the website of Novem a gram bar is around 76 dollars to which NNN is pegged. Can anyone explain why the difference is so big?
They gonna store and hold your gold, think its pegged to a London gold price exchange, i could be wrong but im sure i read it on here somewhere
1 Like
I wanted to buy gold yesterday. but when I saw that there was a 35% surcharge, I left it. I also cannot understand who would buy it. or do I overlook something… 
I don’t want to talk badly about anything here, but in my opinion it is absolutely not competitive with comparable offers.
1 Like
1 PAXG (31,1034768g) $1.784,78
3.110,34768 NNN (31,1034768g) $2.354,53
I just do not understand. We lower trading fees to be competitive for large customers and then such a product. How does that fit in here. I would be happy about a constructive discussion. Are there really people who pay 32% more just because it is based on blockchain?
2 Likes
Good point fischdenflo!
I read the arguments from the NNN admin yesterday in their TG and tried to understand why the huge premium on top…but if PAXG is practically the same, then it makes me a little bit angry, because I welcomed NNN very much in first place.
Maybe there is any kind of big difference between PAXG and NNN I don’t get and someone can enlight us. Thx:-)
1 Like
So I looked at paxos Gold several months ago and can see no difference. I have already started a contribution in this forum. But I am honestly not a specialist and therefore I would be happy if someone could explain it to me. Maybe @canesin can also say something about it.
2 Likes
If you look online to buy gold gram bars, then it gets close to the price of Novem. So there is probably a difference between the price of gold and the price of gold gram bars.
You know what, I will stick to Bitcoin 
So you want to say that you should only use novem if you are not planning to buy more than 1 gram? 
I certainly wouldn’t pay such a large premium. Tbh, i don’t see the usecase of gold-ownership on the blockchain for retail. As you still need to trust novem to retrieve the tokens for physical, why doesn’t a simple database do the trick? I’m just not getting it I guess
1 Like
@fischdenflo it is Novem that set their token margins, we (Nash) are an exchange. Think off the following relationship, you are a bookstore, publishers want to sell their book - you offer store floor space, they define the book price.
Maybe a more “internet” example is like amazon and its sellers.
We would be happy to list other gold backed tokens if their teams have interest in providing liquidity for those markets.
@Nickstar007 don’t copy on this but I think the difference is that NNN is a bearer instrument, meaning that the storage custodian has a commitment with the NNN owner not Novem. Don’t know if they are using 1g bars or the London 1kg standard like the mentioned Paxos project.
They did a AMA: AMA with Novem – 15:00 UTC, Friday 3 July
5 Likes
the operators are known. and consumer protection warns of caution. if you like reading you can use the google translator
3 Likes
When you go to the website of FMA Liechtenstein you see that they have licence as a Service providers, whose activity has been recognised as a « limited network »
(Art. 3 para. 3 ZDG) see http://register.fma-li.li/index.php?id=142
So hopefully everything is this time legit. 
Many Thanks…