I am very sorry for saying this but as it seems founders have got everything wrong except the ico.
The calendar if i’m not mistaken say’s 11/2/2020 exchange mvp is live for almost 5 months , we see no volume even now that we are on a bull market and how we can have any ? it is a total nightmare for anyone to use the exchange , UX/UI are the worst ever, many times even the funds stuck in the smart contract!
If they deliver a solid full platform (a big if) with btc trading and all other things that they have promised , exchange will be far behind the competition , we will have a very limited number of pairs , no fiat pairs , no tether , low liquidity etc why anyone will stop trading on binance or kraken? because platform is decentralized? guess what …WILL NOT HAPPEN…! our only chance was to build a bigger community and a strong brand, and have all the the licences to trade securities, but the founders have missed all the targets they had and never apologised to the community , i will only give one example, usdc …on the Q3 presentation @canesin stated that it is very very soon to go live for europe, now we got the Q2 2020 date … without explanation on what happen or any apologie, this is the same story all over with everything they promised … as a result fewer and fewer people follow the project and the brand is not existen !
Fcc what is going on with security licence we need so we can add nex and other tokens on the exchange ?
Where are the metrics of daily users on the platform?
Where is the marketing plan to bring users to the platform, is any member of the marketing team able to make one or they are on the position because they are founders friends?
referral was a waste of money as the platform was in mvp when it finished and most of the new users we got where friends and family of community members so they get more tickets and even worse the new users from outside the community will never return as for sure it was the worst exchange they ever used ( the platform is more like on beta and not mvp but again you choose to hide behind your finger)
To build a complex exchange like Nash takes time so we must be patient and look for a way to help grow this community and to support the whole team.If you listen to the Q4 report you will know that much is been done at the background
1.BTC in testnet
2. MCP wallet finish
3. 3 new flat gate way
4. Nash own flat gate way that will work with Nash pay
5. Nash pay coming out in Europe in Q2
6. Nash will be the first to list USDC in EU
l do agree with you that “referral was a waste of money as the platform was in and still is in mvp”.
What they said is they would be the first one to legally add USDC. As for whether it’s the right strategy to follow every rule, I’m not sure either, but I’m no expert…
However, when you say this:
…I strongly disagree. UX/UI are IMHO quite high standard (yes I mean it and that’s even before the upcoming UI update). The Funds manager is a very powerful concept and it’s nicely implemented. I for one don’t use anything else than my Nash account (except for on-ramping but I’ll get to that). Finally the mobile app is fluid and updated regularly, adding to the overall product experience. Of course, we’re all aware that some issues remain (transfers not working the first time around), but Nash team is aware of it and - again - we’re not at MVP stage.
This is not the real fight. Volume is. More volume will bring more users. Who can bring volume? Liquidity providers and market makers. As per Ethan and Fabio’s answer, it’s in the pipeline. I know it’s not reassuring as long as we don’t see tangible results, but I’m pretty sure that decentralized API keys are required for this, so I’m guessing we’ll have to wait a bit longer till this is released. BTC trading pairs are nice in that they’re the biggest markets out there; moreover if played right it can bring Nash some notoriety. But real volume will stem from making it easy for developers, traders and institutions to trade programmatically. Hence Nash’s many incentives (APIs, customizable bots, security features, etc).
So even when current volume is ridiculously low, I’m still willing to believe that everything will fall into place eventually. In substance, this is what Fabio says here.
So I guess it’s in those moments when you see who’s really in it for the long term vision. I know I am.
PS: I’m not discarding that marketing seems nonexisting right now. I’m a technical/product guys and I love the idea that a product will make itself known for being the best/safest technology out there, but let’s face it, this is just utopic: all successful startups are strong in every department. I really hope Nash has some strong campaigns ready for when API keys/BTC trading is released.
Nash is not the first to add usdc in Europe …this is a big lie
All major exchanges that are open to European customers have usdc and tether …like kraken , bitpanda that are fully regulated and have banking partners and everything …!!!
The founders keep saying about regulations etc , I will say they have bad lawyers …
And something very important , they keep saying they will offer it but with some type of order restrictions but they are not telling anything specific …
WRONG! Did you even read the AGBs from BitPanda for example ? If you did, you would know that
> Die E-Token, die im Bitpanda System gehandelt werden, können jederzeit und nach eigenem Ermessen von Bitpanda modifiziert oder geändert werden. Die Leistungen im Zusammenhang mit M-Token werden ausschließlich von der Bitpanda Metals GmbH und nicht von Bitpanda selbst angeboten.
I will translate this… it means actually you are trading Jacksh** on Bitpanda… you trade E-Tokens that are not cryptos but a representation of a crypto coin that CAN BE MODIFIED BY BITPANDA AT ANY TIME THEY WISH so of course they are regulated, you don´t trade any cryptos on Bitpanda you only trade CompanyCoins that should follow the price of a real token ie. USDC…oh and did i mention that BitPanda is keeping the right to close or modify your account at anytime they wish… ? If you don´t believe me READ THE AGBs before making any comparison between NASH a fully compliant CRYPTO Exchange, that is giving you your Private keys and the possibility to withdraw your coins at any time…and BitPanda a company that let you trade Hopes and Wishes I would say you are clearly either a troll or someone who isnt even reading the AGBs of companys you are entrusting your money with…
Unlike other crypto projects we have a very transparent way of judging the progress. Which is daily volume on the exchange.
No matter how technologically advanced Nash is, no matter what all revolutionary tech they are bringing to the table, no matter how efficient/inefficient marketing team is you can easily see how we are doing just be seeing the daily trading volume as this is what the founders, company and investors are trying to achieve (The end goal).
Now the volume might / might not pick up in near future. Thats the gamble we all have taken. 6 months since MVP has launched the volume is abysmal. Its you who has to decide weather we are heading in right direction or not.
I think the criticism here is a bit too harsh. I understand the frustration of some investors now that there’s green all over the market and particularly for those of us that are almost ALL in Nash. It is still important to recognize the great work that the team is doing, they are not perfect but one thing that is sure is that their focus and target is not in doubt. We can not lay too much emphasis on the volume at the moment as it is obvious there no attention in that direction for now. We all know what a single bot loaded with $10,000 can do in terms of daily volume. Also on marketing team, you are being too harsh on them. If for anything, the marketing team is being delayed by the technical team. There’s simply nothing to market at the moment. Promoting the exchange now will be a waste of fund, energy and time while at the same time be negative first impression. So, all energy , effort, resources is better reserve until Bitcoin and GA. It’s painful seeing NEX like a stable coin in the face of ‘bull’ but there’s hope and it won’t be too long…
I agree. what I said was very generic. We do not have to look around for monitoring the progress. Volume is the best metric. You think we are heading in the right direction so volume will come eventually. Many people think the other way around. Its a guess/decision that people have to take for themselves.
Since you mixed two threads on same points I replied all the ones regarding spending and your suppositions on another reply to the other thread (Salary's and other expenses), the level of entitlement and lack of respect in your statements like “big if” “WILL NOT…” “only chance” “able to” “long overdue” is not compatible with this community.
Regarding the other points here:
It has been 4 moths and 2 days, is that closer to 5 months ? From MVP to GA in a semester adding things like MPC and Bitcoin protocol while passing by hundreds of other improvements, new staking system and a mobile app for a company of ~30 people is amazing speed. As a company we are always pushing to be more efficient shipping software, our reports always bring transparency on improvements in internal processes.
UX is good and will only become great, as a matter of fact we have validated that users can’t even tell the difference from trading on centralized platforms. Something we are not. Nash has conducted more than a hundred user interviews (many of those people in this forum) to further improve its products.
It is not in our roadmap to have fiat pairs, having fiat pairs requires us to be custodial.
Regarding USDC I saw other replies already cleared mistakes on your comments.
Nash already communicated that securities trading is not in our work pipeline at least until second half of this year. When we will re-evaluate it given the market conditions if we progress into it.
One of the things that put us apart is that hundreds of members of our community have meet us in person multiple times, not only founders but team members. We openly talk about mistakes we made, so far we got a lot more right than wrong. I don’t see where this “shadiness” you try to raise on us can possibly come from. As a matter of fact I remember the founders being asked directly that question in a recent AMA.
I think its best to ignore some of these ignorant questions/comments. One option to deal with could be having a downvote and let community decide if the question is worth the nash’s time for answering