Referral giveaway concerns

(Jopie) #1

I am a Nash fan from the beginning, therefore, I have a few concerns:

It has been made clear to me that Nash won’t be advertising. To get many people engaged, Nash relies on its community to refer as many people as possible. The referral program Nash proposed is simply not going to do this.

If you want a lot of people engaged, you have to make it easy, rewarding and fun for people to reach out to their friends or followers.

One of the conditions to be eligible for the lottery is that you have €25 in your account.
Not many people know this. You might have referred 100 friends, but if only one of them actually puts €25 euro in his or her account, you will only receive 1 extra lottery ticket.

This way, Nash will make a lot of people p*ssed off. You have to reward the people that are running for you. With these conditions, the opposite happens.

There are a lot of great referral programs out there. There are people with a lot of influence who would love to help spread the word about Nash if there is a good referral program. There are many examples where the referral program or airdrop has worked very well.

I really hope that Nash is not counting on this referral program to get them the engagement we all hope for.

I am looking forward to hearing from the team about this. @canesin @clare

With kind regards,

Jochem

(Thomas) #2

I have to disagree with you. When nash remove the 25€ limit there will be a lot of fake accounts created. These fake accounts won’t help us either (no volume) and the persons with the best skills in creating fake accounts will win.

I don’t know where you heard that nash won’t be advertising. They will, I’m pretty sure about it.

7 Likes
(Lukaskorba) #3

Interesting thoughts @Jopie… Here’s my point of view:

  1. If I understand it correctly there is you+2 levels of pyramid. Aka if I get a friend on board and he do the same, I won’t get his friend’s people… It’s not super well communicated but I most likely believe it works that way… see https://nash.io/static/referrals-earn-tickets-desktop-03d2a19a75b9c1c967c1ade25abf277e.png If I’m right I like it. This way it might happen that people from community with initial seeds may get less people on board than somebody who will start as 7th in chain of people a month later… Initial people won’t have bigger bag of pending tickets… This is the most fair idea I’ve seen so far.

  2. Nash and ours wish as well is a lot of people will use exchange. More people means more fees, gives & makes sense to Nash. In the end it’s about PR and marketing and it’s still business. Deal with it or be upset. Be nice won’t make you successful. Aka 100 pending tickets where people won’t use exchange and they’d just responded to referral link many weeks ago expecting money or lottery win doesn’t look fair to me. Our responsibility is to spread love and get people on board and excited. Not to collect 3k tickets. It’s not a competition. You need volume, you need usage, 25 bucks is ok for me.

  3. The only thing I see a bit sad in this approach is prizes. A lot of us truly and hardly work on getting people on board and in the end 4 people will be super happy and lucky, 30 more will get at least 1k$. Not so fair to me. I would vote for bigger spread of love from Nash. 400 NEX for me anyway as I collected 40 ACTIVE tickets for example (10 per 1 ticket). We’re here to help Nash to be more visible, more used and more successful and only a super small portion will celebrate lottery win. Imagine some guy who registered (1 ticker for him), haven’t sent his link to anybody and yet it’s out main winner. You got 300 people on board and end up with tears in eyes. But that’s life bro… I’ve never won anything in lotteries across dozens of them. Even fu*king pen was for other person not talking about tvs, cars etc. I guess it’s too late, they already communicated prize model.

Overall… I still see it fair and decided to not be excited about prizes as I won’t win. Throw a rock to audience and you’ll hit me, lucky looser is my 2nd name. This way I will be cool and will be happy for others…

I would love to hear feedback on this @canesin pls

1 Like
(Jopie) #4

I heard it at Nex’s birthday. Fabio told us himself. I agree with the €25 deposit, however, not many people know this and people will say that they have been “scammed” into getting their friends to join. There must be a better way.

(Jopie) #5

There are many examples of referral programs and airdrops that have worked just fine. In this situation, only Nash community members will deposit 25 bucks. The referral program is there to let others know about Nash and start using Nash. With this referral program this won’t happen I’m afraid.

(Sean D) #6

I think its great that nash are using this as a marketing strategy by trying to on-board new users prior to launch, great strategy in my opinion.

I look at the bigger picture and think that the real reward is adoption of the platform providing liquidity and trading volume. We all want to see this platform grow so our investment gives big dividends and that is the reason i’m sending referrals to actual friends that will use the platform. The added benefit of having a chance to actually WIN some more NEX tokens and Bitcoin is a big bonus. :nash:

(Jopie) #7

Yes, but how did Coinbase attract new users? I know that is not possible in the beginning, so if this is just a “warm up” referral program then it is just fine. But if this is the way they hope to engage all their new users…

(Lukaskorba) #8

btw… winners will go through KYC??? @canesin? They should, otherwise what stops me from creating 100 emails, 100 accounts and 100times 25 bucks trades?

(Lukaskorba) #9

and one more… with idea of tickets it might happen that 1 person will win several times. Super small chance I know, but if I have 40 active tickets… May I win 2 times?? @canesin

(Peter) #10

@Jopie some great points raised.

For me personally, I think it’s great if people don’t read into the terms and conditions properly. Why? This increases the chances of people that actually did pay attention, whilst simultaneously achieving the objectives of the referral program (spreading the word out on Nash).

The end result is a drawing of valid tickets. If there are those that attempted to game the system but could not satisfy the conditions, this would essentially increase your chances of winning. I imagine those who have not satisfied the conditions won’t be told, so there will be little to no outrage.

On surface, it appears the program is working to build awareness. @lukaskorba for those that personally share the view that it isn’t worth the effort, then they are most likely not participating. The prizes and incentives speak for themselves and people will vote with their feet.

Overall I think it’s a great referral program for launch. The costs for the company are fixed as opposed to other programs that are contingent on the numbers referred (e.g. coinbase $10 referral). Once Nash is generating revenue, they could implement other referral strategies.

3 Likes
(Justus) #11

I am very happy about the first referral program and I don’t have anything to criticize.
Could the rewards have been split into smaller amounts so that more people would win sth? Maybe. Would it be better? I don’t know.
Sure, there are other ways to make a ref contest, but in my opinion this one is good as it is.
Plus, there will be new things in the future.

2 Likes
(Lukaskorba) #12

great opinion…

(Alex) #13

Had my concerns in the beginning too. –‘How do I convince people this is not a scam giveaway?’– In the end the goals for this launch campaign will be te get people to use the platform. Therefore the €25 makes sense.

You must know the proposed launch is around the end of March. And the end of campaign is halfway June. Between now and the end of this campaign there will be the MVP launch, another event in London and probably a first new iteration/update for the platform. I think the secret sauce of this campaign is AWARENESS - RETENTION (repeatedly hearing of Nash) - EDUCATION (press and media diving deeper/reviewing this project) - AMPLIFYING bullishness

  • Current stage we are in the AWARENESS phase. If people have heared the name Nash. Thats good enough. No matter what they think of it.

  • The RETENTION phase will probably kick of after the MVP launch. More people start talking about it, because now there is more exiting stuff to talk about. The name Nash pops up again…

  • The folks who were only aware of the name Nash will likely look into the project again. This time with an Educational/learning/considering mindset. (because of the repeated appearance of Nash)
    If everything is as groundbreaking as the team suggests. The media will love it and write about Nash in a good way. Making all the early sceptics have a second look and make up their own mind again. (Around April. There is even room for minor errors like website downtime, unexpected behaviour,…) Good communication at this stage is key.

  • Lottery participants will help convincing people to try the platform, because they want active tickets. At the same time they will have much more educational material in their arsenal to promote Nash. AMPLIFYING the bullish media coverage/sentiment.

7 Likes
(Lukaskorba) #14

nicely done… I also believe this is part of a bigger plan. Not the end but beginning of mass adoption…

1 Like
(Fvivif) #15

It’s just part of the marketing, also Chris stated there will be more refferal programs later.

1 Like
(NATENEX) #16

Not sure where you heard they wont be advertising? At least dating back to the prospectus they had outlined that they were allotting $100k a month for marketing.

The giveaway and referrals are the start of this, Binance does the same thing. Word of mouth is the best form of advertising as its seen everywhere in all channels rather than one or 2 dedicated ads, not to mention using the community is practically free advertising.

Either way, this team has demonstrated that they are clearly prepared and professional. They have literally tackled everything in detail and responded appropriately. I have 0 reason to believe they wont be marketing to ensure the exchange gets volume.

Furthermore, remember that its hard to market a product that you cant use yet. Now that we are ramping up id expect to see alot more in the coming weeks/months.

2 Likes
(Hypotheticalidentity) #17
  1. I partly agree with your concern about the clarity of requirements for the referral promotion; They’re hidden in the T&C (and partially shown in one of the graphics) :

For a ticket to be activated, the person who generated it must place an order of any kind on the Nash Exchange

And to qualify for the draw:

A ticket is valid if the person who generated it has the equivalent of 25 USD in their Nash portfolio at the moment of the draw (June 17, 2019)

  1. You are wrong about Nash not advertising. Fabio, Chris, Carla, and other team members have shared there will be other programs ramping up to exchange launch. As @Alex mentioned, this first program is to drive awareness of Nash Exchange. @Canesin always talks about marketing leading to action, and this promotion is like the trumpet blower at a coronation announcing the parties involved. Furthermore, Nash partners will also be marketing the exchange when it’s live.
1 Like
(Steven) #18

So to clarify, say I referred some friends and got 10 tickets. It says at the bottom of the referral page “only tickets activated by accounts” which would lead me to believe that only I would have to have the $25 to activate however many tickets I earned through referral, since I would be the account activating them. But as @hypotheticalidentity quoted above “A ticket is valid if the person who generated it has the equivalent of 25 USD” I am assuming the person generating the ticket would be the account that I referred, which would mean they would have to have the $25. I may just be getting caught up on the wording between “activated” and “generated” but going by the referral page alone it is slightly confusing wording which could be changed.

(FCC) #19
  • KYC will be required for winners, as stated in the T&C.
  • The minimum balance at Nash funds management is to control fake accounts, only real users matter to us.
  • This program has a start and end dates, this is not how Nash plans to acquire all its users.
  • When is time we will contact the participants not meeting the $25 criteria warning for their inactive tickets if they want to be considered for the prizes.
  • There is funnel design for the leads, we are trying to match development and marketing speeds.
6 Likes
(Mao Mao) #20

the rules of referral are stated clearly in the website. I dont see why would people complaint. if they do, it is because they dont read before participating, which could be the case.

So, what can we as a community do? We MUST educate and pass the CORRECT information to the people who sign up for this referral program!

It’s a fair referral program to me with no complaints. Eg. you work hard for it, more chances of winning. :grinning::grinning: