That’s assuming a business like Revolut would use Nash even with the old fee structure. If they wouldn’t with the old fee structure and they would with the new structure, then it’s obviously a good move. If they would use Nash anyway, then it could potentionally be a bad move.
getting to coinbase volume… just saying that 7 billion is a lot of money. If we think to beat coinbase any time soon would be foolish, even though our non-custodial factor is worth gold.
And then for that whopping amount of money that puts us in the top exchanges, only earn 100 dollar per 1000 nex monthly for 7b…I mean its something, still a okay return.
But we used to play with the calculator and dreaming on the huge potential of NEX. Now, this potential has been downgraded to my opinion.
Nash could ofcource increase the fee’s at a later stage again, but they don’t want to lose the big players if we managed to attract them. Meaning that going from 0.03% to 0.04% is a huge change already, and already seems unlikely for the future.
Thanks for making the chart together with oldsport, though.
It’s the same if there’re suddenly 150 million NEX instead of 50 million. The lowest fee of 0.13% turned into 0.03%.
Regardless of the ‘What If’s’; As an investment, the RR of NEX has weakened now. I have reduced my holdings / exposure as a result. This team were far too cocky heading into this venture. As NEX is a security, ICO investors should be refunded a portion of their capital as now NEX is not as valuable as it used to be.
This dilution will not guarantee the volume but it definitily ensures the exodus of NEX holders. I saw this stuff before with Red Pulse (Phoenix)…look at the price of it now.
That’s a nonsense statement. It’s definitely not the same. With the new fee structure, you potentially attract very high volume traders and in turn more average volume traders.
With suddenly more NEX you wouldnt have this increase in volume.
It means I have to atleast double my NEX holding.
What increase in volume? It’s still in your head not in reality. Let’s vote and see how many people approve this decision. Holders staked their NEX for 2 years and now they’ve been backstabbed IMO.
Well if the volume increase is not coming, the average fee is going to be higher than we currently have with the percentage based tiers…
This made me hella bullish on nex bois. This fee structure will attract big players, big players attract small players. In the end we will sit at 0,13 % fee Which is fine for me!
Go get those retail traders Nash!
@roel.b That’s a okay return indeed. But i used to keep the calculation of NEX at an average of 0.21%. I have also put it at 0.13% now, I think that’s a fair average to keep now. That’s a big downgrade in the potential of NEX, however.
But for potential volume you look at volumes of other exchanges which used to have more competitive fee structures. How realistic is that?
The potential volume got much bigger by this move.
And for a 0.13% average fee, we would have to be at pretty big volumes already. It’s 25m 30-day volume for a single trader to even reach 0.13%…
Great move! This is very important to attract large customers to the platform and to compete with everyone else out there! The prior fee structure was just not attractive to any large players and would have never gained big volumes. I take $500m in volume at 0.03% at 1m in volume that we currently hit at 0.25% any day.
I don’t know why you saw them as “Far too cocky”. I think you had an idea stuck in your head and you are upset now. The team has always had a large vision and they have finally achieved the product they have been dreaming of and working so hard towards. The issue arose that they realised that big volume traders/institutions were not interested in trading on the platform as the fees were too high, thus they had to reduce it. In the end this will result in more volume and more revenue for the exchange and it’s token holders, not less. We will see if you still feel this way a year from now, I bet you don’t.
seeing the response when fees change was discussed 10 days back , i think only a few will downvote this decision. We want volume and if fees is not competitive nash should be flexible to adjust fees.
This is probably not a bad descision to gain adoption.
NASH as many interesting products and value proposition, but what is it’s real value (price that most would pay for)?
Comparing to other exchanges, you can advertise the UX, the built in wallets, as well as the compliance, and of course the non-custodial trading with BTC.
But it is too early to assess the bullet proof aspect of this tech… And there is still some friction with having two accounts on the exchange (hopefully resolved tomorrow). Less coins than other big exchanges is also an issue…
Therefore, the team decided that they felt like downgrading the price of there products (by lowering the fees for high volume traders). And if in the future they feel like their products should be valued more, then they will raise the price. It is a simple strategy that could help volume to rise, and consequently add value to the exchange and be advertised!
I think the team is very open to community discussion, and remember that they are also incentived to take as much fees as users would pay for, cuz they staked their NEX.
I will remind you of this.
I think it’s a perfectly reasonable decision, and while it could have been made from day one I don’t see it as lack of clarity but a way to stay competitive. This new fee schedule is a great way to attract big volumes and bootstrap adoption.
And do you also get that binance, with their BNB security (100% illegal btw), which is giving a discount on fees, made a 100x. With NASH you can trade with 0% fees, just need to make an order that will make the spread a bit tighter, that’s it. So if you get a bit less of dividend than what you through, remember that the value of NEX can still be out of this world if successful.