The last quarter of 2019 saw our trading platform minimum viable product (MVP) enjoy its first months of operations. During this time, Nash shipped dozens of variations and improvements. Our MVP platform offered invaluable insight in the form of metrics and frequent user surveys. These let us establish the roadmap of necessary technical developments and growth strategies for the first half of 2020.
Our main hypotheses regarding the provision of liquidity and our capacity to retain crypto users have been validated. The first was shown with the deployment of our cross-chain technology and successful liquidity provision on the NEO/ETH test market. The second was demonstrated with the introduction of our mobile app on Android and iOS, which contains features tailored to our established user profile.
Nash continued to take measures to increase our internal efficiency, enabling more productive development sprints. We have redesigned our engineering work process to enhance visibility and communication around ongoing work and have seen major improvements from initiative-based teams. The resulting productivity gains combined with optimizations in our operational expenses to allow us to lower our profitability turnpoint as we seek general availability (GA) during 2020.
Over the last quarter, the Applied Research team continued to work on our multi-party computation (MPC) cryptographic systems. The team’s principal focus was on implementing our protocols for MPC-based user wallets, which are set to be integrated into the web platform during Q1 2020. Our MPC technology is also being adapted for use in decentralized API keys, which are set to appear before user wallets and will make Nash the first non-custodial exchange to offer automatic trading.
Key achievements were:
In addition, the team has performed exploratory research into protocols for decentralized lending and borrowing, providing more useful information for Nash products.
The SecDevOps team completed a number of important developments during the last quarter that have improved our security and optimized costs across infrastructure. These include:
The team has also been joined by one new engineer. With over fifteen years’ experience as both a systems administrator and systems engineer, they have most recently focused on micro-services architecture and cloud computing.
The Settlement and Portfolio team, focused on blockchain integrations, shipped many important platform features during Q4 and laid the ground for significant upgrades during Q1. Key achievements were:
The team is currently finishing implementation of non-custodial Bitcoin trading, which is set to arrive before the end of Q1.
The Trading and Accounts team has dedicated this last quarter to consolidation. Our community provided extensive feedback regarding new features, issues and bugs, and the team has dedicated significant time to working on corresponding improvements. With production code running, the team was able to pinpoint different aspects of the application that could be improved in terms of stability and performance. Several changes were made to the initial application structure so we can have a cleaner app that is now easier to scale.
The Payments and Mobile team boasted a major success during the last quarter with the launch of our mobile wallet and portfolio app. The team also worked on significant upgrades to the app:
The team has various goals for Q1, both for Nash Mobile and other products:
During the last quarter, the design team worked on new features as well as improvements for both our web and mobile offerings. The mobile app saw continuous design updates that improve both UI and UX, and designs were begun for both mobile account creation and mobile trading.
Work on the web platform included:
Marketing and Communications
The Marketing and Communications team worked on various initiatives during Q4. Investor relations were served by our Q3 report event in Lisbon. Nash continued to demonstrate leadership through our sponsorship of the ACM Advances in Financial Technologies conference in October. Public relations efforts saw various press interviews with the Nash founders complemented by articles and YouTube appearances. The team also managed the conclusion of our first referral program and began empirical testing of possible advertising strategies. Product-related work included the addition of video walkthroughs to our support page and the completion of the German translation of our platform and website, which is currently awaiting implementation in Q1.
During Q1, the Markcomm team will be working on further campaigns, including increasing the involvement of the Nash Community.
Our support team continued to provide excellent service. 75% of tickets were solved in a single touch by our agents, who responded to web chats during work hours within 22 seconds. Users reported a 95% satisfaction rate with support. In addition, the support team has reported regularly to both designers and developers, pointing out bugs or possible UX improvements. Nash is hence able to prioritize work on exactly those issues that cause users most difficulty. This pragmatic approach allows the company to allocate resources in an efficient manner so as to achieve the most tangible benefits for our users.
You can watch our Q4 2019 report presentation, including an AMA with the Nash founders, here.