What trading volume is currently needed to break even business?
Will you consider giving the NEX security token some sort of utility as the ecosystem develops? For instance, as a loyalty mechanism or access to additional/advanced functionalities.
Are communication and marketing efforts going to increase as soon as we have BTC pairs? If not, when?
Could you update on the token vesting schedule for core team and employees? When can we expect an increase in NEX circulating supply?
Why is Switcheo able to trade NEX in some jurisdictions and Nash is not?
Last but not least, I believe Switcheo trading interface is much more clean, better organized and intuitive form UX/UI perspective than Nash at this current point in time. I’ve used both lately and Switcheo offers a better trading experience in my opinion. Am I the only one here who thinks this?
As positive note, happy to know 4 new engineers just joined the team!
I would appreciate an official answer on this but some of your questions were already answered in previous events or AMA’s.
I try to answer what I know:
This was answered in the past and if I recap correctly there is no kind of utility planned for NEX. It is a security, nothing else.
They already mentioned that communication and marketing activities will increase as soon as platform is open for public and current pending changes (GUI, Security, BTC) are implemented.
Because they simply do it. They do not have a license nor did they pass any regulation that allows them to trade security tokens. As long as there is no governance instance forcing them to stop they just do it.
@carla Going to piggyback off @sergi’s post. Do you have any information about the next Q4 report?
I understand the team is busy with NashPay and Bitcoin implementation but can you provide a ‘how’ and ‘when’ for the quarterly update? @clare provided details for last year’s “Q4 meetup” (which I now understand will be conducted online).
I agree. Switcheo is cleaner (and much of it is due to the font I think) and it’s better organized. I have to admit that I never found the Nash user interface really intuitive. Something is wrong with the flow. Over the last few years I have used all large and different smaller exhanges and something is not right.
I know that changes are coming to the trading interface, I hope this will make major improvements.
I completely agree. There was so much talk about UI and somehow they managed to release something that is not at all intuitive. Switcheo is much cleaner, faster and easier to trade on. I hope team takes this and make some changes.
i am not sure if this is the same everyone feels , I found switcheo fonts are much bigger and not that attractive compared to nash… the only reason i use switcheo is for nex but i don’t see any where its superior than nash
Hey Carla! Could somebody from the team answer some of my questions or it’s too much to ask? Last time I posted I got no comments from the team either.
i also have to agree on the UX/UI.
The flow is missing. I like the easy window to receive/withdraw, but it can be made easier. Look at coinmetro for example, they have cards on a dashboard, like bitpanda and coinbase also have, and buttons to withdraw/deposit on those cards.
The coinmetro express platform also has a simple “You pay…” > “You Receive” functionality.
@sergi if you read your comment you will see we already worked in several of those points. If I have more time later I could list those, but things like tokens on funds manager, dark mode, some fixes and a redesign for the adv. exchange. Regarding listings we can’t list new chains as easily (you list a bunch of established and new networks) given the big technical development needed, listing tokens is the only practical listing expansion until our team is done with Bitcoin.
Hi @canesin and team, thanks for the presentation and giving detailed answers on the AMA session. Happy to see good progress and excited for the coming months.
The partnership with Shopify for Nash Pay is great news!!
There is however a question that got may upvotes and you skipped it:
I know it’s a tough one but could you give a rough estimation?
As investors, I think we deserve an answer on this one.
Vol of $6M/day to $7M/day at current spending. Our target of $100M/mo for the semester doubles our run, that is why it is a big target for us, it is a pivot signaling (knowing you had startup).
Thanks Fabio. I appreciate you are sharing some numbers here.
I think $6-7M/day is very achievable goal with that’s in the pipeline.
Just to clarify, is the target for the semester $100M daily or monthly?
With merchant partners such as Shopify and others, $100M/day is easy imo.
Do you think Nash Pay will bring more volume to the exchange than the volumen users can generate with trading? @canesin
