Q1 2021 Quarterly AMA

Hi, Nash Community!

Nash will now be hosting quarterly AMA sessions here to keep you informed about our progress. We believe a written format will be more effective than recorded half-yearly or quarterly reports on YouTube.

Please post your questions below. We’ll lock this thread on Wednesday 14 April, so make sure to ask your questions by then!

A quick reminder of our 2021 strategy: Bridging the gap between fiat and crypto: Our vision for 2021

And here’s our roadmap:

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Hi Nash Team.

I think your new strategy makes it clear what your short term goals are. I’m very happy about that and thanks for your hard and great work and what the team has reached until now and I’m looking forward what the team will reach in the future.

How will DEFI looks like at the end on Nash? Will be there for example the Nash Savings page where we can lend and borrow directly on Nash crypto? Only the protocols from the DEFI projects will run on the background and we see for example powered by AAVE? What means everything is running on NASH in the front end no switching from domains only the blockchains are communicating in the background. I think that would be the gold standard for security when everything is running on a MPC environment.

Are there plans for interpretation the NEX Token to other chains like ETH that their will be more options to buy NEX in the future?

On the other hand it would be nice to buy NEX via fiat ramp on NASH

And a more out of the topic question.

Will Nash run a NODE on the N3 network? I think because of NEX is on NEO network it would be also great that Nash will run a Node to provide decentralization and security to the network :slight_smile:

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Hello :wave:, any estimate on: when the new affiliation strategy is going to be live?

How is the team feeling about the progress?

Thank you :handshake:

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PDoes Nash plan to make Nash app like amazon shoping app wherein they will offer all the best investments in the crypto field, may it be defi, NFT etc.

Is there any proposal to use Nash login in a creative way?

What about Nash link, y is Nash not announcing partnerships. Fabio had once mentioned that Nash link is shaped by 100B dollars + company. That was in August 2020. Y is it taking so much time to launch the product.

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hi there

I have two questions from myside.

  1. As a frequent trader i was wondering if team could make a statement / commitment concerning the Nash League / liq. Mining. Will the idea of rewarding people for bringing volume / liquidity to the exchange stay for the long run?

  2. Can we expect a new / adjusted affiliate program once nash is ready for marketing? I personally would love to see a program in which people could be rewarded in a recurrent way like getting a small portion of all fees generated or even a portion of the interests on savings product.

thanks :wink:

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Will the L2 exchange receive any upgrades in 2021, i.e. margin or options trading for btc and/or eth?

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Hello :wave:

I like to hear from you guys in a written format too, thx for that!

  1. We can feel strong growth in the use of cryptocurrencies as well as growth in e-commerce. How was Nash Link received in discussions with the target group? What are the biggest challenges for a successful start?

  2. Can you share allready some additional information about Nash Savings?

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  1. Now that the focus have shifted from Exchange to Ramps, is it fair to say that exchange will be only for those assets for which ramps will be provided?

  2. As a NEX token holder I would want to know the current revenue being generated and make a distinction between dividends coming from ramps/exchange. Why Nash has decided to keep it hidden?

  3. Most of the decisions taken earlier has backfired, the new roadmap is very thin in terms of innovation and core development. Seems Nash is focusing on partnerships and getting more inroads in DeFi space. Is it fair to ask that we will be seeing more innovation as well from the project and not just onboarding defi players.

  4. Last but not the least, Why there is no talk about BSC? The volume/users are way too large to ignore. Any plans for that?

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As a NEX holder and investor, i’m very much concerned about the overall progress of Nash. It appears the new direction taken by the company will not be generating as much revenue in terms of trading volume and thus much less dividends generated for stakers. What is the company doing to generate more interest in Nash and to at least find ways to bring more value, liquidity and upside potential to the NEX token?
As a startup company, why not pivot into new ideas and new directions to bring more usage to NEX, similar to what Binance has done with BNB. The level of frustration having to hold NEX and unable to move on from it for another 11 months is beyond imaginable.
When will the team make a strong statement and come up with solid winning ideas the same way Ethlend has done with Aave? It seems that Nash team would prefer if the crypto universe would still be in a bear market so they can just keep their heads down and work on tech without being bothered.

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Hi Nash Team,

Is there any plan to list MOB?

Signal messenger app is going to use MOB as means of payment, as they are beta testing it now in UK, volume from fiat to MOB and trading volume can be big when it’s public. And perhaps Nash can be the bridge between crypto-crypto and crypto-fiat for Signal users.

I think this can attract many new users to NASH too.

1 Like

Hello Nash,

  1. Will Nash be able to use some sort of Layer 2 solution to lower ETH gas fee’s when moving in and out of Nash channels?
  2. What is the current estimation for revenue to be generated through this Fiat ramp change in direction year on year?. Can we have a projection?. The change in direction for Nash is concerning for NEX holders as we can’t see how Nash can generate high volumes this way as opposed multiple trades on a successful exchange.
  3. Will the exchange continue to be used and managed?. Have Nash given up on this idea due to lack of interest (adoption) or is it being crippled by legal issues for listings and high ETH gas fees.
  4. Will there be an option to release NEX tokens to holders that do not agree with the current change in direction of the Nash platform?. What are the legal standing for this?.
  5. Will Nash perhaps give us a more in depth explanation of the reasoning behind the change in direction for Nash. Perhaps explaining exactly the issues Nash faced when trying to build out the exchange?.
  6. What is the current financial situation for Nash exchange. How much longer can the company survive with no income for overheads?.

Some of the questions here may seem a little negative but have to be asked as an investor. It is unfair to compare Nash to other projects but the grass has definitely looked greener elsewhere for investments. I think we all need some positive reassurance right now. So the tough questions have to be asked.

Thank you.

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First, I would like to say that I’m very excited about the new strategy and roadmap of Nash. On the short to midterm I see great potential with Nash Cash and third party fiat ramp integrations. On the mid to long term I see big potential being a neobank with the integrated checking accounts and Nash card. So a very exciting roadmap ahead.

My question is regarding the L2 exchange. I personally still think this product has huge potential aswell and I think the general conception of the community is that the exchange is no longer a focus. I however do not share this conception. What I believe is the case is that only the focus to capture retail investors has changed. Instead of making them use the L2 exchange directly, you try to capture them with offering a secure wallet / simple to use fiat ramps / checking accounts / Nash card. Indirectly however, the L2 exchange is still utilized for settlement of the fiat ramps. Is this a view you share? That the L2 exchange is still a core product and that the new retail products can actually be a catalyst for growth on the L2 exchange?

Lastly, we know that for Nash Cash settled to the Nash Channels, the L2 exchange is used in the background. That’s how you can offer 0% fees, since you can earn from the taker fees. Same for Nash Link. What I wonder, for fiat ramps to L1 wallet and third party fiat ramps, will you still use your own L2 exchange for buying/selling the assets (for assets listed on Nash exchange)? For example, when the integration with Matic is ready and someone buys ether on Matic. Will you use the Nash exchange to replenish your reserves of ether on Matic (and then send it to Matic in bigger batches to prevent huge transaction fees)?

Thanks

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  1. Will we get a tool to withdraw assets from the state channel, which is independed from nash online service? I’m referring to the following smart contract functions:
    function initiateManualWithdrawal(address addr)
    function completeManualWithdrawal(address payable addr, uint16 assetId)
    It is still not proven that we can withdraw our assets from nash channels without the need of nash.

  2. Why does the L2 not support operations like sending and receiving assets from another nash user? I could transfer coins like ETH or BTC to a friend without paying any fees. It should be working since we receive Nash League prices through a L2 transfer from nash.

  3. Can you share some interesting statistics of nash? Like new users in the last quaters, users of the exchange, transfers in the L2 network, …

  4. Did the delisting of pairs like NEO/ETH on the exchange resulted in the expected positive result? If not, please provide those pairs again and flag them as “not recommended”. Delisting of pairs lowers the possibilities to create volume on the exchange. (NEO/ETH delisting resulted in a loss of about 600k taker volume from me each month)

  5. Still Nash Cash has found market fit and nash pivoted with the main strategy, is a process in work in parallel to find market fit with other nash products, like nash exchange or nash link?

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Some good questions here.

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:vulcan_salute: It is a philosophical question:

:point_right: when will nash enter the Yes llife?

So far nash it’s too much in the « no » or « yes but » … it’s very bad for the image of the company especially for a startup, which unlike a large existing company, should be full of promises , force of proposal and conveys hope for a better world.

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I like the fact that Nash is promoting its NEX token, however I would like to know as to how was that made possible legally?

One of the fudders @bitcoin queen on twitter has mentioned that Nash is confused about compliance. Nash team I would like the team to comment on clarity it has with respect to compliance.

I am with the team with respect to compliance as I am here for the long term. I am invested in NASH because it is compliant and would like it going that way, even if we loose short term opportunities. Compliance gives a long term predictability to the investor, and creates a strong foundation for long lasting business.

Nash was going to develop integrated bots on the exchange itself for the people to add liquidity. It would have been great if it was developed as people like us who are not aware of trading strategies would have put in money to add liquidity to the exchange. Please reconsider this.

I wanted to know whether Nash Cash business is a low entry barrier business or high entry barrier business. Recently we have seen quite a lot of competitors entering the market like Dharma (US), transak, ramp, Everest, mt. perelin etc which are also compliant as Nash is. How does Nash have a competitive advantage over these service providers, except for NEX which is a dividend paying token. How will Nash position itself to beat these competitors?

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Is it possible to contact coingecko and coinmarketcap to get new tags and maybe a new summary text for Nash?

I mean nex has only " marketplace, decentralised exchange and Defi "

And selfmade tags which innmy opinion are almost useless ( statechannels, Lichtenstein)

What about contacting cmc & cg and try to get:

  • layer 2 exchange
  • ( 0%) fiat ramp
    -credit card
    -payments
  • yield farming?

And the summary text about nash ( nex) "

Nash aims to make decentralized finance fast, simple, and safe by enabling users to transfer assets securely without the need to trust intermediaries. It reportedly combines the security benefits of blockchain with the speed and functionality of traditional services. Its decentralized exchange is reportedly fast due to its proprietary matching engine. "

I think we can add many more things that make nash unique.

Cmc is such a strong platform where hundred thousands check cryptocurrencies and exchanges.

You should write a new text with all the nice infos that cleary want newbies to invest in nex:

  • 0% fiat ramp
  • 0% maker fees
  • Layer 2 exchange
  • daily dividens
  • nash link
  • nash savings with the real defi instead of the commom " cefi "
  • ultrafast exchange
  • mpw wallets
  • real bitcoin trading instead of wrapped btc
  • using nash as a local bank and pay out crypto to fiat anytime
  • seed phrase + private key ( your keys your coins)
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The value of the coin went from about ,80c to $2.50 in about the space of a week, be patient and it will pay off…

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Great timing on the AMA! There are tons of things circling for Nash so thanks for taking our questions.

  1. Non-KYC vs KYC trading - To keep the question short, will there be a day where people that had to KYC for staking, but cannot use the exchange (like Canadians), will be able to trade the non-kyc daily minimum? Withdrawing 3 LINK for $80 is obviously not ideal so the ability to compile all to USDC and withdraw all for $80 is much more appealing.

  2. NEO3 - Can you highlight some of the expected benefits that NEO3 will provide for Nash? Will there be any impact to the app, ME, or staking from a user perspective? Will Nash embrace the NEO ecosystem and look to provide services to platforms like Flamingo?

  3. The future of L2 and Nash - Where do we see the exchange in the world of L2s? With Nash achieving a working relationship with Polygon, do you see Nash having a bigger presence in L2? Will we see a day where Optimistic or Polygon users can use the Nash exchange without settling to L1 first and save those fees? Nash could be the only exchange in an L2 to trade REAL BTC to these users.

Thanks for your time guys!

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  1. Will the fiat currencies <–> token buy/sell at spot prices be promoted? What kinds of promotion does Nash plan to use besides ‘crypto-twitter’?

  2. How many companies are planning to use NashLink? Any of them on the Fortune500 list?

  3. Which NEX dividend vehicle (L2 exchange, 3rd party fiat ramps, trading at spot prices, etc.) does the team expect to bring in the most dividends by the end of the year?

  4. It seems a trend for your targeted competitors is to offer the “best fees” and “secure wallets”; two features giving you a competitive edge. How does Nash distinguish itself when all the competition (with huge user bases) is claiming the same features?

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