Poll: Name change from "Personal account" to "Wallet"

Together with a redesign of the funds we are investigating the change of name for it to “Wallet” for more clarity with de-facto standard across crypto.

One of the things we are also looking for the possibility is to change the name of “Personal account” to “Wallet”, just like we changed Trading contract to Nash Channels. This would be presented in the list of assets like bellow showing both cases:

Are you in favor or against such change?
  • In favor
  • Against

0 voters

13 Likes

I like the idea. Wallet is more Crypto language and separates us from the classic finance world.

6 Likes

I did not vote because I am in favor of neither.

Personal account makes it feel like your funds outside of it aren’t yours.
Wallet is better, but 2 things bother me:

  • Nash aggregates 3 wallets, so calling 3 wallets Wallet feels slightly confusing
  • it does not convey a strong message of security whereas we know it’s one of the most appealing features of Nash’s funds manager.

For the above reasons, I suggest Vault. Unless of course you have something else in store for that name :slight_smile:

14 Likes

I voted for name change to “wallet” but I also prefer “vault” for the same reasons mentioned by OP.

3 Likes

I voted for Wallet but I also like Vault too. I agree with your point about 3 different wallets possibly being confusing but I still like it. I look forward to hearing what others think.

1 Like

I voted for “Wallet”. I can see why it could also work with “Vault”.

But I think we should look at the perspective of newcomers. They already need a little bit of explaining with ‘Nash Channels’. It would be wise to use a more general term which is doesn’t need too much thinking. So I’ll choose ‘Wallet’

I mean, can we all remember when we first heard ‘Wallet address’ and though what are these strange numbers and lettets.

2 Likes

Certainly in favor. The simpler the better.

3 Likes

I like the way it looks in the example from Fabio. Looks simple and clean :handshake:

Nice to change

3 Likes

I’m torn on the correct answer here and think I might avoid answering the poll…

The problem I see here and I’ve already raised the issue on telegram is that the name Nash Channels, to me, does not strongly imply that it’s also a non-custodial solution.
Personal account or Wallet does, but then sending to the Nash Channel feels/sounds to me that your sending your Bitcoin to a Nash owned channel and possibly losing the custody of your Bitcoin, even though I know this isn’t the case.

Therefore my suggestion is something like the following:

“Personal Wallet” or “Your Wallet” or “Personal Vault” or “Your Vault”
And
“Personal Nash Channel” or “Your Nash Channel”

As I’m writing this post I don’t even like my suggestions haha,

Just wanted to raise the point that it’s important that the end user knows that Nash is non-custodial in both the wallet and the layer-2 channel. :slightly_smiling_face::+1:

5 Likes

Wallet is really much better imo. Not “vault”, not “Personal Vault” or “Your Vault”. Just a easy well-known name: Wallet <3 perfect!

3 Likes

I totally agree to Wallet. The terms all around the different pages should be more streamlined, same terms in app as well as in Webpage. I.e. doesn’t Assets and Funds mean the same? The two different pages are rather confusing. It would be better to merge them in my view. Maybe somehow like this, then the whole Asset-Page could disappear.

3 Likes

I personally don’t like using vault. To me, this gives the impression that if you want your funds to be safe, you have to withdraw them from the Nash Channels to the “vault”. However, they are also safe in the Nash Channels and it can save you on a lot of blockchain fees if you keep them there.

7 Likes

“Wallet” is a better term and easily understood by many within and outside the community.

“Vault” just sounds very odd. A vault is a place where you store something that you’re not going to use regularly, like your physical gold or your will.

Every English speaker understands that you keep your money in your wallet so that you can easily reach for it whenever you need it.

The magic is in keeping things as simple as possible, and not over-complicating basic steps.

7 Likes

I know its maybe not the main issue here, but its also UI/UX related. I somehow cant find the Swap feature in the webpage. It seems its only available in the App.

I see this as a disadvantage, especially for onboarding new users (see the huge success of Uniswap). Although its availyble in the App also there its also quite hard to find (only a very small logo in the upper right corner, when you choosed the trading pair).

In my view the swap feature should to be set by default, when new users are entering nash the first time. The switch to the exchange feature they will find out soon enough and when preferred, they can tag/lock it. This would follow the natural learning principle which always unfolds from easier to more advanced, right.

1 Like

Wallet is good!

I referred few days ago new user to the platform (not with my ref code don’t feel good to use those).
First question she had what Personal Account means.

I like to see you change that.

3 Likes

I don’t like your suggestions, but I like your thinking!

Now that I think about it, I’ve told myself a few times that something feels off with “Nash Channels”: not only is the “Nash” name misleading you into thinking you’re giving away control of your funds to Nash (in that regard “Channels” would be better imho), it’s also not intuitive what it is or offers.

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Not sure a newcomer would understand what that button does :point_up:

Why not use a verb for consistency, i.e “Deposit/Withdraw” instead of “Nash Channels” in the tooltip?

As for Nash Channels, I would call it Personal account: this is the place to put your funds if you want to use Nash services (trading, Nash Cash, Nash Link (L2), etc). In a way Nash’s L2 is the true Nash account. Naming it “Personal account” would make it the center of attention, as it should be. It also mimics what you would do on a CEX: use funds in your personal account (trading…) then withdraw them back to your wallets. Writing this, I realize that Wallet (or “Wallets”) would be better suited to fit that narrative than Vault.

All in all, this is what I would do:

8 Likes

Heh, agreed, I didn’t even like my suggested naming convention, was in a rush, however, wanted to drive home the fact that Nash Channels feels like your giving up control in some form.

So if we change personal account to Wallet, I’m kinda of the opinion that some for of change is required to improve the end users understanding that the layer-2 Nash Channel is also non-custodial, like @Oldsport suggested it’s essentially the location of your personal account that you put your funds to use the Nash services

Totally agree with this and your illustration is great at driving home the point:
“Wallet” and “Personal account” to replace “Nash Channels” would be perfect.
“Nash Channels” feels contrary to the spirit and ethos of the Nash exchange as it suggests a kind of exchange custody which isn’t the case.

On second thoughts, “Vault” sounds better and more relevant than “Nash Channels” to me. “Vault” tells the user that their assets are still in their custody but it requires a slightly more rigorous process to release them than “Wallet” which will imply ready, quicker (and perhaps cheaper?) availability.
So I will go for “Wallet” and “Vault”. Also, both are single words and not phrases - they’ll probably stick better.