Good to know that we both staked our tokens, along with 4020 people. Imagine everyone expressing their frustration, will it help the team?
Not in my intentions to make enemies. I also want Nash to succeed, the rude way is not the right approach.
I see the good intentions of Nash, and I see people being uneducated and trashing Nash. Sometimes I just can’t stand it. I probably need some time off from crypto ( you probably too ) it’s too much sometimes.
Also I think I miss understood your intentions too.
(1) Where do you see Nash in 5 years?
(2) Is that possible Nash do a Buyback program of the Nex token to value the token price? (Share repurchase - Wikipedia)
(3) Do you have any news about the CEO and Head of Marketing roles?
Will bridging into different L2’s be possible? Which L2’s will Nash support? (Useful L2 analytics site: https://l2beat.com)
Think you’ve already mentioned it somewhere but will fiat on ramp purchases be able to go directly to L2?
Will we be able to use dydx, compound etc? Understand AAVE is the main focus atm but just wondering what other DeFi opportunities Nash is looking into.
Hi Peeps,
I have a question specifically for Nash co-founders Fabio and Ethan, who are also compensated advisors (Elrond token allocation for advisors was 2.50%) for Elrond. Seeing the direction Elrond defi 2.0 is going with for instance their Maiar Exchange (and their Mex token) or the fact that Netopia enables eGold to fiat payments for more than 30,000 merchants.
Would it be fair to say that there is a serious conflict of interest here? Or does Nash play an important role in the DeFi 2.0 plans of Elrond?
I’m also confused about the legality of encouraging and enabling the purchase of NEX on Uniswap. If I’m not mistaken, they don’t have the licence to legally sell NEX. Could you explain why before Uniswap was frowned upon and now it’s promoted as a gateway to Nex?
I want to start off with saying that I like the dedication and constant improvements that the team is doing to the product. With that said lets get into my questions.
I belive the road to succes is to have a simple product with good rates that is complient, and then reach the number of users that maybe is not so much into tech but are intrested in getting into crypto. This group of people might be scared away from nash if bugs occur. Therefore I wonder:
Is there any plan and is it prioritized to fix the occuring problems with sending Neo between trading and personell wallet? And is it a priority to make it possible to send eth without having eth in personal wallet?
Question number 2 is regarding future plans. Since nash has made a big deal out of being fully complaint, this benefit should be used to our advantage. For now I see we focus heavily on partnership with other crypto services. But could it be that our advantage with being complient make it easier for nash than competitors to integrate our ramp into companies that maybe dont lay within the crypto sphere? For example banks, casinos, etc. Any company with heavy cash flow that could benefit to have a crypto ramp. Has this been discussed and is there any reaching out towards companies outside the crypto sphere going on behind the scenes?
Also one thing I don’t really see the hurry in but could be fun in the future. Is there any plans to make a loyalty program like voyager has? To make it more fun basically to accumulate nex (other than dividends from). Could be something so simple such as the credit card get different colors (blue, silver, gold, etc.).
The L1 pivot (fiat on/off boarding) is a good direction to take but it is not an innovative feature and it faces the same compliance related challenges that made the L2 exchange noncompetitive.
Will Nash be able to innovate in terms of its products and services? The market has a clear preference for innovation while Nash has a preference for regulatory certainty. These two concepts have clashed and it took toll on the L2 exchange so the L1 pivot was required. While Nash innovations are interesting (MPC wallet, decentralized API trading, real btc trading, etc) these have not yielded nearly enough of a result because they are still well in the context of playing it safe.
Innovation and playing it safe are mutually exclusive and there is no denying it, Nash learned this the hard way.
Having said that, the growth on Nash does not have to be innovation based as long as Nash is respectful of the fact that innovation and compliance are the two opposing forces and combining them (like Nash tried with the L2 exchange) is not a way to go. Nash could come to terms with its compliance focus approach and use it to its benefit. Is Nash reaching out to real world companies that are interested in legally engaging in crypto sphere?
One such example would be real world casinos that could use Nash Link and the L1/L2 trading with a simple login though QR code via Nash app (or Nash in the back end).
“Is Nash hiring strategy moving in a direction to align with this vision ?
Looking at your LinkedIn I would say ~90% of people have tech and or academic profiles.
I know Nash announced a new strategy a while back. What impact did the new strategy have on HR or how will the new strategy and HR relate to each other ? #AMA”
When all these products and services become available, customers will have the option of switching to Nash as their sole banking provider.
In researching Railsbank, I wasn’t able to determine whether fiat deposits into these IBAN accounts are insured/protected through some sort of Deposit Guarantee Scheme. Most banks in Europe offer this insurance (as well as many other banks globally, under various names). Aside from a handful of scattered PRs, I wasn’t able to find a conclusive list from Railsbank on who their global banking partners are either. Does the team know whether deposit insurance is something Railsbank includes in their BaaS services? My initial guess is whichever Railsbank partner bank is supporting the IBANs, insurance might come through them.
For Kellogg:
How are you finding working in this industry as opposed to the more traditional fintech space? In the crypto world, it seems like regulations and technology are evolving in a big way on a monthly basis – did you find your ‘playbook’ needed to be adapted to work in this environment, or do the fundamentals stay the same regardless of the playing field?
I was ecstatic to learn you’d be joining Nash, thanks for your hard work.
That goes to all co-founders and Nash staff as well – kudos!
1. Will it be possible to spend funds with a Nash bank account (card/NFC) from both personal wallet and trading wallet?
2. As stated on the roadmap, bank accounts (Q3) will be released earlier than bank cards (Q4). Does this mean that it will be possible to have a bank account in Q3 and pay by NFC-chip of a mobile device until physical bank cards in Q4?
3. Will their be small % transaction rewards (permanently) from people you onboard to use a Nash bank account. Such reward program could become very lucrative.
4. Will it be possible to use staked NEX as collateral for loans? This will make having Nash as a bank so convenient. I predict this will stimulate more users to purchase and stake NEX as well.
5. Will it be possible to convert dust into USDC?
6. Will it be possible to remove or unsee pairs from wallet view? E.g. because its such a small amount you can do nothing with it (noise in the screen).
7. Will there be a package made so traditional security exchanges can easily list NEX? For example Nash could offer storage/wallet tech + API for NEX security exchange integration.
8. Railsbank has a banking license. Meaning NEX could be traded via Railsbank integration in Nash against FIAT. Is this going to happen?
9. Will there be interest on the bank account or only on a savings account? Or can the DEFi savings account be used as spending account too?
10. What is the approximate % interest on a savings account, since it is said to be the top of industry?
11. Concurrents such as Binance and Crypto.com offer up to 8% cashback. Will Nash be able to keep up with such high amounts of cashback %?
I’ve got a couple of questions in regard of the new strategy which will focus more on the L1: fiat-crypto markets.
I also have some questions in regards of the financial situation of Nash as a company.
1). Could you share your internal projections (based on monthly volume) by which the team constitutes the addition of a L1 market to Nash as a succes/failure.
2). Has the team decided on all cryptoprojects that will be added to the L1 markets yet? If so: what will those markets be? If not: by what metrics does the team decide which market will be added to the platform?
3). What plan/strategy does the team have in order to attrack volume to the L1 markets?
4). It was previously stated that it would be a easier/faster to onboard new cryptocurrencies on the L1-markets. Could you elaborate somewhat on what it takes for Nash to add a new market on the L1-markets, and what’s taking up the most time.
5). How much total volume does Nash need to generate on the L1-markets in order to become profitable as a company?
6). What’s the financial situation of Nash as a company?
7). What’s left of the company funds raised by the ico?
8). What has been the monthly income generated by the company last year?
9). What’s the current monthly burn-rate of company funds?
10). I believe there were talks of shopify integrating Nash Link. Is this still in the works and if so, what’s the e.t.a. on this going live?
Best wishes to the team. You’re work is much appreciated and i hope this new strategy will pay off!
When will Nash become an exchange instead of a wallet? We need more listings and more volume to attract users. Very competitive fiat ramps are already flooding the space, earnings products like Anchor are achieving more than 20% APY, and decentralized exchanges are poping up from every directions. The only hedge Nash has is its compliance, and cross-chain exchange, unfortunately the exchange is not attractive with such low volume, and lack of choice…
I understand that Nash is seeking to integrate its ramps with as many Defi platforms as possible but is Nash working on expanding beyond Defi as well? Nash Cash could be placed everywhere possible that is crypto related such as into platforms like Ledger Live, Brave Browser, exchanges that support 3rd party ramps like Bitfinex, Exodus wallet, Changelly if possible… basically any platform where there are crypto people.
i like the layer 2 exchange and i believe it will be the only non-custodial solution in the long term, as the networks cannot cope with the volume.
otherwise you just pay disproportionately high.
With the infrastructure that nash builds it should be possible to implement on- and off ramping to layer2 inexpensively and quickly (Sepa instant etc pp)
are there any goals in the near future?
Please refrain from these questions. Even if it would be technically possible (which I doubt) you signed a type of contract and there is no chance of reversing it, even for a life-or-death situation. And before you start arguing that Nash had a different focus back then please keep in mind you didn’t sign up for any specific policies i.e. the agreement was between you and Nash. I would urge admins and mods to delete such posts and inact a policy of no staking-unlock beging.
The new strategy of nash: “bring the gap between fiat and crypto” is ambitious knowing that the competition in this field is and will be more and more severe. What criteria does nash plan to capitalize on in order to resist or even outpace the competition?
Is the focus on fiat ramp a step or a complete change? The exchange is an important part of nash from my point of view, do you plan to continue to develop it?
NEX, what are you going to do to make nex really accessible and above all better known, I think this is a key point, the token is in a way the showcase of a crypto project. It must be highlighted and accessible. after the announcement of the end of switcheo nex loses in storefront. With erc20 not being a security (if I understood correctly) why not try to get it listed on a suitable exchange? Nash has the community to put nex forward right now, just missing a little push.
The bugs. There are bugs too regularly, mainly on transfers between channels and mobile app wallets. Is a deep fix planned?
Thank you for this AMA who I hope will clarify
The new path taken by nash.
Super excited for another AMA and the pivot Nash has made this year!
I’m most looking forward to seeing Nash expand into Australia / New Zealand with its fiat ramp and Banking accounts once they are ready to expand out of Europe!
(Sorry for any double up questions, hard doing it all from my phone…)
I have a few questions I’d like to add, also wanted to say great questions from @Melicio
1.) Do you Invision a future where we can a earn yield on our Bitcoin in a non-custodial manner?
I’m not even sure if it’s possible? But would love to hear if it’s something you think Nash can achieve!
If not would you consider a custodial method?
2.)
(I think @Melicio covered this but I’m intrigued and the answer interests me, especially, as I have no experience in traditional financial markets before Crypto! Is there a way to list a non blockchain version of $NEX the security to existing traditional security trading markets that’s worth 1:1 $NEX in either native NEP5 and or ERC20 format.
3.) I would love to see Nash jump on board the NFT space, either through a strong partnership, NFT marketplace, or by some other means, care to comment?
4.) Do you envision the Nash platform to support staking of supported tokens such as ETH and or support for staking pools?
Super excited for 2021 and what’s to come! Bloody great to be a part the Nash community and watch the platform continue to grow into something amazing!
12. It is still a challenge for many to setup a simple digital store without too much of a hustle. I really like the simplicity of Nash Store, is there a chance people/companies are able to setup stores on Nash soon? Possibly accessible via the app.
Together with Nash Link, I believe Nash can make it plug and play to setup a digital store. Since there is a huge market for it this may be worth the effort.
Are freelancers who use PayPal still a primary target?
If not, then what types of user is Nash mainly seeking to attract?
Which users will be a priority?
If so, then how does Nash plan to attract existing PayPal users? (Traditional banks would work just fine for freelancers, yet they choose to pay through the nose (on transaction fees) for the sake of convenience with PayPal.)
So ‘savings’ and ‘convenience’ are the two major factors, and knowing the above, the former alone wouldn’t cut it in attracting freelancers. How would Nash address the latter with its tools, services and UI? (as to not function too similar to a traditional bank, which freelancers are paying for the convenience to avoid).
I am very happy about the possibility to ask questions to the team here in the forum every quarter from now!
First things first, I am very happy with the switch to fiat-to-crypto spot markets. They should have a steep growth curve in the coming years. Even though there is talk of mainstream adoption everywhere, I think adoption will take another 1-2 years before your parents and grandparents are investing more than play money in crypto or cryptodriven services.
My questions to the team:
Can you guys give us some metrics on Neon Exchange AG? How many employees are you currently, what do you currently spend the most time on? Is there any news regarding the advertised CMO position? Are you currently hiring? What is the financial situation of the company? Are there any plans for further funding rounds (e.g. Series A, like Coinbase)?
Some time ago there was a thread with suggestions about the affiliate program. Are there already more detailed plans regarding the new affiliate program?
What happened to Nash Link? There have been virtually no developments or news in recent weeks. Is Nash still actively working on onboarding companies or is Nash Link currently on pause? Will Nash Link benefit from L2 solutions like Polygon? Are there plans to implement BTC L2 networks such as Lightning?
Are there plans to educate the new clients a bit better on crypto (like Binance Academy)?
Are there any plans to make Nash Channels (tradingwallet) compatible with Polygon / other L2, so that users can transfer their funds from the channels e.g. directly to Aave?
What happened to the announced design changes of the webapp? Are these still being implemented or is the focus 100% on the mobile app at the moment?
Are there any plans to add other benefits to the NEX token or staking to expand the usecases of the token?
Have you ever thought about integrating Binance Smart Chain and becoming the cheapest and fastest fiat ramp there? It certainly wouldn’t be very easy, but the marketing effect should be enormous.
Are you planning to change the UX of the app again? Personally, the app is not lively enough for me, for example there are no references to recent blog- or social media posts or even to this forum. But that can also be a subjective impression.
Have you ever thought about splitting Nash into “Nash” and “Nash Pro”? The Exchange could get its very own app under the name “Nash Pro”, reduced to the essentials and improved, and the Nash app would be clearer for new customers. I don’t think it will get any easier to keep the app clear with the upcoming banking features.
What can the community do for Nash, is there anything where we as a community can actively support?
Are there any other partnerships or developments you may share with us yet?
Thank you for taking the time to answer all of our questions.
) it’s too much sometimes.
