In February, Nash published our new vision for a financial superapp, seamlessly bridging the worlds of crypto and banking. With one app, users will be able to receive their salary, pay for groceries, analyze their spending – and easily access new financial opportunities like crypto investments and high-interest earnings.
We are now pleased to announce our plans for integrating the NEX token with these new products.
We have sought to make NEX an attractive investment for new users in comparison both to other companies’ tokens and traditional stocks. Our plan includes:
💰 A generous profit share from all core services
📈 Additional utilities designed to boost the usage of our products
🎁 Special promotions connected to marketing campaigns
📱 Placing NEX information on the app home screen, with optimized UX for all functions
⚡ Bridging NEX from both NEO and Ethereum to the Polygon Layer-2 network
🤝 A new referral program aiming to bring users to our earnings products
Read on for more details.
Making NEX more accessible
A major goal of our token redesign is to make NEX as accessible as possible: easy to use and easy to obtain for those who are interested.
To achieve this goal, we must improve the NEX token’s current infrastructure. As a registered security, NEX currently is only available for trading on secondary markets. High Ethereum network fees and complicated UX for adding liquidity make these markets difficult to use. Moreover, NEX on the Ethereum blockchain must be swapped to NEO before it can be staked – another obstacle for new users.
Nash will address these challenges as follows:
- We will bridge NEX from both NEO and Ethereum to Polygon’s Layer-2 network. This will open up the opportunity to allow more affordable decentralized markets on Polygon, like SushiSwap and QuickSwap.
- We will provide incentives for users to add liquidity to NEX trading pools in the form of an interest rate boost on our earnings products – with simple functionality for doing so built into the Nash app. In combination with lower network fees on Polygon, this measure will improve the health of NEX secondary markets.
- Staking will no longer be necessary to take advantage of any of the new features of the NEX token. Users must simply hold NEX tokens in their Nash app wallet (whether on NEO, Ethereum or Polygon) and complete identity verification (KYC). NEP-5 tokens that have already been staked count towards this balance.
- NEX will be given pride of place on our app home screen, with a card informing users about the benefits of the token and offering immediate access to functions like claiming dividends and navigating secondary markets.
Profit share from all core services
NEX is a registered security, allowing Nash to share profits with token holders. We will remain true to the original vision of NEX as a profit-sharing token and distribute rewards from all of our core services. NEX will offer:
- Up to 75% proportional revenue share from our Layer-2 exchange fees
- 10% proportional profit share from our earnings package management fees
- 10% proportional profit share from our fiat gateway fees
- 10% proportional profit share from our DEX market fees
To simplify the user experience of the NEX token, we will not require users to stake tokens to receive dividends from our new services. Users must simply hold NEX tokens in their Nash app wallet (whether on NEO, Ethereum or Polygon) and complete identity verification (KYC). Dividends will then be in proportion to the number of NEX a user holds with respect to the total 50,000,000 supply.
Dividends will be calculated on a daily basis and users will be able to claim them at any time by tapping a button. We intend to offer a variety of payout options, including USDC (on the Polygon Layer-2 network), national currency to a user’s Nash IBAN account, and potentially adding funds directly to their crypto-powered earnings.
DEX market fees will be collected on a monthly basis and consolidated as stablecoins. Dividends from these fees will then be paid out on a daily basis over the following month. NEX will no longer offer a fee reduction on DEX markets as a default utility.
The original functionality of the NEX token – providing a revenue share from our Layer-2 exchange – will remain unchanged. NEP-5 NEX tokens must be staked through our webapp in order to receive dividends from the exchange. All staked NEX tokens will be counted towards user balances when calculating rewards from our new services.
Utilities to drive app usage
In addition to profit-sharing, NEX will provide benefits to holders who make use of Nash’s services themselves. We are finalizing the details of these additional utilities, but they will be designed to incentivize customers to make more use of the Nash app or otherwise add value.
The main utilities we have planned are:
- Fee reductions on the Nash fiat gateway
- An interest rate boost for earnings packages if users provide liquidity on NEX secondary markets (tokens locked in liquidity pools also count towards other reward schemes, but user NEX balances within these pools may vary as tokens are traded)
- Increased crypto cashback when using the Nash debit card
We will confirm the details of these features when the new NEX functionality is implemented in the app.
The profit-sharing and utility functions described above are just the basic features of the NEX token. Nash will regularly run special promotions connected to all our products that will both increase the dividends received by NEX holders and add bonus utilities to the token. These specials will help us drive demand for the NEX token in conjunction with marketing for new products or in response to market events.
Some example ideas for these specials are:
- New earnings package launch
If Nash launches a new earnings package – for example, a leveraged package using Alpha Homora with a 30% interest rate – we could offer a higher profit share from this product for a limited period, such as 50% over 6 months.
- Special fiat gateway offer
If Bitcoin is rapidly increasing in price, Nash could offer a fee reduction to just 0.25% on all BTC purchases for a limited period.
- New coin on fiat gateway
If Nash launches a new coin on our fiat gateway, we could share 25% of all revenue from purchases of that coin for a limited period.
The possibilities for such specials are almost endless.
Earnings referral program
Nash has designed a referral program to bring new users to our earnings products. To take full advantage of the program, users must hold NEX tokens in their wallet.
For every friend you refer to Nash, you can earn up to 1% annual interest on your friend’s earnings balance, paid out along with your NEX profit-sharing dividends.
Nash will reward you with up to 20% of our management fees on the earnings balance of each of your referrals, with a cap at the equivalent of 1% annual interest on their balance. When a friend signs up with your referral link, they will receive up to a 1% interest rate boost for their first month (varying according to the earnings package they use). Precise reward levels for each package will be displayed in the app.
- All users receive the interest bonus on their friend’s balance for 1 month
- 500 NEX in your wallet: Receive the bonus for 3 months
- 1,000 NEX in your wallet: Receive the bonus for 6 months
- 2,500 NEX in your wallet: Receive the bonus for 12 months
- 10,000 NEX in your wallet: Receive the bonus for an unlimited time
If a user’s NEX balance falls below the required level for receiving their bonus, or they reach the end of their bonus period, they will have a two-week grace period to increase their NEX balance so as to continue receiving rewards. In the case of the top tier for unlimited rewards, the grace period will be one month.
Example with Anchor
Let’s assume that Nash’s Anchor earnings package is offering 13.5% annual interest. In this case, the referral program will be able to pay out the maximum level of rewards on Anchor balances. If your friend signs up with your referral link and uses Anchor, they will receive 14.5% interest on their balance during their first month, instead of the standard 13.5%. What’s more, if your friend maintains a 5,000 EUR crypto earnings balance and you hold at least 2,500 NEX in your wallet, you will receive a 50 EUR reward over the course of one year. If you hold at least 10,000 NEX in your wallet, you will continue to receive this reward over subsequent years, so long as you maintain your NEX balance, your friend maintains their earnings balance, and the Anchor rate does not change.
Join the conversation
Community members who wish to discuss the new NEX tokenomics and Nash’s future plans are invited to post questions in this AMA thread.
You can stay up to date with Nash by following our Twitter and Instagram, as well as joining our official Telegram group. We also encourage all Nash Exchange token (NEX) holders to join our community platform, where they can talk directly with the team and receive reliable answers to questions.