What are the plans to address the low volume? I know we have other features coming but 100k daily hasn’t been sustainable thus far. This is not meant to be FUD. I’m still very high on Nash succeeding but it is a viable question.
Seeing that dividends are generating practically nothing for token holders or the exchange, how much burn rate do we have remaining?
I know the community has their own thoughts and opinions but I’m curious how the team plans to tackle this as the thought was that BTC was going to bring substantial volume but it hasn’t.
The answer lies in a combination of all the following:
To this, I’d like to add the initiative to bring the Gunbot community closer to Nash by making their bot compatible with Nash Exchange. Having a serious community a botters being able to trade on Nash would help I’m sure.
I know you were expecting an answer from the team, but my guess is that we are in one of the following situations:
Nash are quickly iterating in all directions (see above initiatives) until they find market fit and traction
They have a precise plan but are under NDA until they can go public
I tend to lean towards the first hypothesis, which is in my opinion a very valid way to navigate a startup. Nash is ahead of its time, so marketing is that much harder, but no need to say I am very confident it will work out eventually.
I’m happy the upcoming podcast episode is on market fit, because it’s been on my mind for a while now. I’ve been trying to compare Nash, and where they’re headed, with the current crypto landscape (read: DeFi DeFi DeFi). I wonder if Nash is hitting their market, or if they did find their market but it’s a small market. I think everyone in these forums sees the potential of Nash, and we’re all eager to see what the future holds. But does anyone else? I sense we can’t keep up with all the yield/lending projects right now, because they’re offering 50%-400% APRs which is baffling and unsustainable. If anyone compares those APRs with staked returns from NEX though, the option is a no-brainer. I don’t think people are willing to do a deep dive on long-term potential and compliance, so they’ll pick these 200% APR lending platforms every time.
This lending/yield craze is all short-term though. I’ve still got my fingers crossed that, sometime down the line, institutional bodies recognize the value of Nash and sit down to talk. I think that will be a pivotal moment that thrusts Nash into the realm of Coinbase, Gemini, Kraken, etc.
Nash has no plans “to address the low volume”. Nash has plans to:
Bring more holders to its funds services
Bring more traders to its trading platform
Allow traders to enter and exit crypto positions
Allow holders to put their capital to work
Allow merchants to accept crypto as payment but receive cash in the bank.
The community should stop this volume nonsense and focus on the product, if Nash products are good and people is happy we will find revenue streams that might have nothing to do with volume. So, are you happy with the product? What can Nash make to improve it to you? What could we do to bring us closer to our mission?
While great and we hope it comes to true at a fast pace: I don’t think is reasonable to expect dividends to be paid on the first years of a startup - I think several multi billion startups still don’t pay dividends. All this hype about APYs, ask yourself and verify what is the YTD realized APY?
Nash is not raising capital currently, already said that the community should not be worried with this, if we need more capital we will tell. There are two ways to need more capital: need to grow or overextended burn. Our insistence in fit is so that we can be on the first.
As the “designated” representative of Nash with the community I have commented before that just the introduction of Bitcoin wouldn’t mean a immediate fit, that I didn’t expect what you describe - if people did, it was in misalignment with our own metrics. This is in all due respect equal to all the asks to list token A or B.
the only think im waiting for is a XRP integration… i talked to a friend not crypto savy but hes in insurance buisness and we talked about crypto and he said something very interesting and i would say this is exactly what the “average joe” expects / waits for… he said:“I would like to have 1 Account where i can see everything, from my Cryptos to my Stocks” Well i know the stock thing will take time… But i think he is absolutely right with the 1 Account idea…and Nash is on the right Track for this… Also i would say that NASH should absolutely integrate the top 10 coins… we did already so with BTC and ETH why not push further with XRP/BCH
With Gunbot … would be very interested if we can retain users funds in our wallet as well as trading liquidity after the trading comp finishes ( if there is one)
Im sure when the time comes that we are ready with volume to support also
i guesss its really the “Bitrage” product users we want… using Nash speed to arb off binance etc
I understand that startups need to pivot and find the right market fit. However, many investors locked their tokens expecting dividends based on projection supported by Nash team members, that Nash will be in top 50 exchanges by volume. Therefore I would not call “volume” a nonsense, since it is currently only revenue stream for Nex tokens hodlers. I still believe in the project, but since expectations were not met, many investors are dissapointed.
Hello, if I am not mistaking, wasn’t that the volume in top 50 is going to be by the end of this year? And it would be super challenging to achieve that.
Why bring this user back into the spotlight? They routinely pop into telegram channels to FUD. Let their name disappear into the abyss, nobody will miss this person here.
With all due respect that’s not the point. It’s not about making “huge gains” before GA.
Many of us that supported the project and helped fund it decided to stake for the full 2 years to give the exchange a chance so we couldn’t even sell if we wanted to right now so your statement is mute.
Secondly, huge gains were never expected close to launch or GA, but from someone that holds tens of thousands of staked NEX for the full 2 year duration, dividends were definitely anticipated to be more than pennies month to month. Especially given that it’s been a year since the exchange went live.
Plus I can speak for a large part of the community and say that GA wasn’t even mentioned when staking officially went live at exchange launch (thus the assumption was that there was going to be marketing campaigns etc. to drive volume as the other products were developed and put in place). Regardless the product is great and the team will get us there. However it’s not FUD to call attention to the low volume when that’s the sole benefit of holding the token, it’s simply open dialogue.
You said it best man, it’s been one year. I invested into a start up company not an income fund (ETFs) or proctor and gamble where I know the this organization is here to stay. Early investors in a company are underpaid first and overpaid later. VCs do the same and I’m sure they are confident in the progress nash is making. Fabio hits the nail on the head, if community love products and they actually change our lives for the better, NEX token a success.
