Our new strategy and roadmap

You have to change, that’s business, name another business what we are copying, we are going to become a crypto bank, who else is doing that?

aave

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Litecoin is indeed a must have for cheap transfers, also it shouldn’t be that hard to implent after they have implented LTC.

Nash tech doesn’t mean much if you don’t put it to use. This should have been Nash;

There is still time to catch this train and make use of our L2 tech as long as Nash is willing to conform to market signals!

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Aren’t all those companies choosing the easy route?
What happens when we are fully regulated? Do you think anyone will be using them then? :thinking:

By using Uniswap or any of those other companies, do they provide a better service then Nash?
( I know they have a lot of tokens and many of them are just like ICO in 2017, I know that they have high fees, I know that there is risk of paying fees for a transaction multiple times( sometimes is more then monthly salaries for underdeveloped countries) also Nash has high fees from transferring between personal and Nash Channels ( this will be solved soon)

What is their advantages in comparison with Nash?
-Better marketing?
-Non compliance?
-Listing every coin without verification of their legitimacy?
-The volume that doesn’t benefit anyone else besides those in power?

I am really confused :man_shrugging:
That train :steam_locomotive: is not ours to be on :face_with_raised_eyebrow:

Nash is a train by design, so no need to worry that we missed it. We are just starting to move, it’s slow in the beginning, and is hard to stop in case we start moving faster & faster.

Please add the points that you value in this companies :point_down:
image
Why choose them over Nash?
@Garda I respect you, don’t get me wrong. I just really don’t know much :flushed:

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Good points, the team have realised the exchange route may not be the best for us. We have an exchange and Defi is the future, we are going to play to our strengths, I still think we will catch the bull run at the end of this year / start of the next year… Be patient, when our train leaves there will be no stopping it … IA

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I don’t value much about these DEXs but markets obviously do. Markets vastly prefer such concepts and we need to ask ourselves how to move into direction that the market points to. The fiat on/off ramp and MPC wallet purchase are certainly a move to the right direction but I am not talking about that now.

I am specifically talking about our L2 exchange which has superior tech to those AMM DEXs and yet it hasn’t got 1% of the traction of these DEXs. Something went wrong there. Nash was based around this tech and our matching engine should have been the center of it all. Now it has been moved to the side and the focus is on MPC purchase. I still think that our L2 exchange has great potential and certainly deserves a second chance. There are interesting suggestions in this forum even. Respecting regulation is OK but not to the point you regulate yourself to death. I am not saying this is happening, I am saying that our L2 exchange cannot compete by playing safe. No risk no gain.

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In terms of UX, nothing beats these AMMs – including layer-2. People will gladly pay fees on a per-swap basis at these DEXs because it’s simple and every coin under the sun is available.

Nash can’t compete here. Layer-2 tech is great, but even Loopring – arguably the most well-known level-2 platform – is struggling to grab market share. End of the day, it doesn’t really matter whether the tech is superior or not. People will use what they want to use out of sheer convenience. I think Nash could have only achieved AMM volume if they listed every single token right off the bat – but then there’s a conflict of compliance because Nash is regulated.

I still think that our L2 exchange has great potential and certainly deserves a second chance

I don’t think the team just neglected the exchange, and so this is where we are today. I think there were a lot of obstacles that made the original mission unattainable. Not to mention, unexpected events. To be honest, if Uniswap never happened I think Nash would’ve become a pretty big player. I think if Uniswap never happened, layer-2 would be way more popular than it is right now. Unfortunately when it comes to convenience, nothing beats these AMMs.

It all comes down to compliance. Binance takes a measured risk in operating the way they do (unregulated). Nash can’t afford that risk, because we are regulated. I know people say regulators drag their feet and never do anything to fight ‘the bad guys’ (partially true), but how easy of a target would Nash be if we operated against regulations? It’s not a matter of building a case against us – it would be as simple as “they are a registered business operating outside their jurisdiction” basically.

That’s how I see it, at least. We can’t just point to AMMs and ask “why can’t we be like this?” because we’re an entirely different entity operating under a different set of rules. We’re all here because we believe that, one day, regulation will favor Nash.

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I think simplicity and that people like to use swaps is only a small part of the reason why uniswap does so much volume.

Biggest part of the reason is because people like putting their liquidity on it and there’s lots of it on there.

Prices only change if people buy or sell so there are constant arbitrage opportunities when global market prices change.

The amount of liquidity and the constant arbitrage opportunities are what I believe to be the main volume drivers of AMMs.

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Would any stock exist, if they would not comply with the rules of going public?
Why do you think that the risk of partial noncompliance is beneficial long term?

What do you think would help us move faster? What rule should we avoid?

I remember Fabio said that Nash is following the rules that make sense, not all of them. For those that don’t make sense, Nash is looking for ways to work around them :handshake:

@Garda just think 7 years from now, where will we be if we keep innovating at the rate we do? + marketing is ON

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That’s all well and good but there’s a question of burn rate and I want the team to start making money. I don’t care for the dividend, it can be 1$ for the next 5 years, if there would be an option to revert my stacking dividends back to the team I would do it and would also encourage others to support the team as well. The thing is, there is no point of being right if you are dead. Please note I do not encourage any law breaking, what I advocate is going through uncharted waters (where possible) Uber-like style. Others are innovating and bathing in cash while we face uncertainty during the best bull market in years. Frustrating and unfair.

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To let all of the profits to go to the team or to show a 19 million staked tokens?
I was thinking about it before staking my tokens, I just decided that staked amount will speak for itself, and people will have more confidence in the project :thinking:

The team have a plan, let them see this thru, at the current price of the token if u bought in from the start u have not made a loss, Defi is massive and NASH will take their share of the pie. The bullrun has only just began, be patient people!

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I just really want to understand, what exactly are you trying to achieve by posting this? Are you angry that the product you invested in didn’t pump straight away?

Since Nash announced a pivot with retail users in focus I believe sharing my perspective could be useful for the Nash team.

I am an admin in several Facebook groups with biggest one having over 70K members.

The average retail user is vastly different from crypto early adopters (people that are in crypto at least from 2019 and before). They are different mostly to the effect they are idiots. No, really, the vast majority of newcomers (boomers but even many younger users) have no clue what they are talking about, what they are investing in, how does it work, what are some good practices, etc. Many of them don’t know what is a blockchain and some (at least 10-15%) never heard of blockchain. I am serious.

One of the most common questions are related to keeping your funds safe i.e. wallet. I of course always recommend Nash along with an explanation of some basic things about the wallet (non-custodial, private keys not in use, not-your-keys-not-your-crypto, etc). When I explain them that coins on CEXs are basically accounting notes and not real crypto plus all the risks involved around this (risk of freezing funds, censorship, hacking, inside job due to rogue actor, etc) all of which are impossible on a DEX, people actually start saying that Binance surely has a better security than Nash since it is a much larger exchange. I try to explain what it means to be non-custodial, how users don’t deposit any funds to (on) Nash, how blockchain works but they just keep saying that Binance is huge and “they must have had many layers of security that are much more complex compare to something on a small exchange like Nash”. These types of comments get a dozen or more “likes” and I get only a couple because everybody uses Binance nowdays.

So this is the level of discussion and understanding we are dealing with here.

However, there is a way of reaching this people’s senses. These people react to certain keywords or phrases and this can caught their attention. Not-your-keys-not-your-coins is a good one and this should be expanded and explained in a few sentences, for example, people want to make sure that their coins are safe even if the exchange goes offline, bankrupt, if the exchange get hacked, etc.
Cold wallet – a very common phrase they react to which should be used when introducing (pitching) MPC wallet by Nash. They don’t get MPC nor they are inclined to google it. What they understand is that “cold wallet are safest” and combined with Binance they have everything they need. Having an MPC wallet must be accompanied by supporting the coins the users are interested in. This is a deal breaker. Only when the wallet supports their coins should they even consider using it and this is when MPC feature can tip the scale to Nash favor though I am not sure 10 new coins will be enough for EOY since this is no.1 priority of the retail user. Security, tech and everything else are never in focus and you cannot even be considered without offering an easy access to some promising coins, this is the crucial part in the mindset of the retail user that we hope to get on our side.

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Had a thought for encouraging Nash Link among merchants.

Would there be a way to incentivize merchants opening a Nash bank account when they become available? If they elect to have funds deposited into their Nash account, maybe they could get a discount / ‘pro feature’ for something?

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@Kellogg please consider this in marketing :wink:

Asking a neutral question about my coins, is going to trigger curiosity to find an answer. (hopefully)

We need to ask the right questions, uncertainty will force people to think.
Examples above quoted show that people think that they know, when in reality they have the wrong answers :flushed:

Example:
Debugging 3 the most common misconceptions about your coins;

  • Does bigger exchange means safer?

  • What “Not your keys Not your coins” means?

  • What gives value to your coins?

( we need to provide answers to :point_up:)

I was reading the strategy again and asking myself “Who are we competing with?”. With the former strategy our competitors were crypto exchanges, basically centralized and decentralized ones. So now, with the new strategy we will compete against the traditional B2C banking providers as stated in the following quote:

“When all these products and services become available, customers will have the option of switching to Nash as their sole banking provider.”

I was asking myself under which conditions I would change my banking provider. Well I am a customer of ING, now already for many years. They provide me with a checking account, a fixed deposit account, a brokerage account, Debit Card and an App and different loan and mortgage offers etc., basically all for free, means no monthly fees.

When using the brokerage account though fees are quite high. That’s why for trading I am using another Brokerage provider. What I really miss on both ING as well as my brokerage provider is an access to crypto assets. They also don’t offer a wallet yet and therefore also no DeFi products. This I can say at least for Germany.

But it’s only a matter of time until ING will offer that, since together with ABN AMRO, BNP Paribas Securities Services, Citibank, Invesco, Société Générale – Forge, State Street, UBS and others they are working on “Pyctor”, an infrastructure that allows them to handle their crypto and digital assets! So time is running.

Why am I using Nash anyway? Well the reason is of course I want access to the crypto market. Even though there is a lot of choices out there I prefer trading with nash mainly for trust reasons which derive from the different security features that nash offers (although it took me a while to understand and really appreciate them), second for convenience (I can trade BTC, ETH and LINK without the need of moving them into cold wallets all the time + easy fiat transfer with the nash fiat ramp) and finally for the low respectively missing fees of course. But I am well aware that other people, especially new customers in the crypto space, are not diving very deep into the security issue as me. But that is another issue.

So anyway what would me make switch from ING to Nash? Well if Nash would offer all the features (as mentioned above) that ING offers I guess I would switch immediately. It could merge my classic banking and my crypto account, which would make my live less complicated. Anyway for trading shares I would still need to use my brokerage account, which would be ok for me by now.

What do you think? Would you really change to Nash and terminate your banking account?

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Fair post. I would love to hear an answer to this

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I don’t see why I can’t have multiple accounts. Just in case something happens with one of them.
I would gladly have an extra account with Nash, hopefully because I am from USA, I am not going to be restricted :no_entry_sign:

One more thing: I am invested in Nash, supporting is in my interests and I finally can have a Bank that I respect :handshake:

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