December 11, 2020

NEX is now also on Ethereum!

The Nash Exchange token (NEX) is now available on Ethereum. NEX was originally a NEO-based token, but Nash has created a bridge between the Ethereum and NEO chains so NEX holders can swap their tokens from one chain to the other.

Swaps are carried out using a simple UI within both the Nash web app and mobile app. Making NEX available on Ethereum offers more opportunities for trading NEX on secondary markets like Uniswap.

FAQ

How does the bridge work?The bridge burns tokens on one chain while minting them on another, maintaining a constant supply of 50 million NEX. NEX tokens on Ethereum are not “wrapped”. Wrapping involves a custodian holding the original token and Nash is committed to being non-custodial.
Is NEX on Ethereum also a security token?Yes, NEX on Ethereum has the same legal status as NEX on NEO.
Can I stake NEX on Ethereum as well as on NEO?If you want to stake NEX tokens, you will have to use NEX on the NEO blockchain. There is no Ethereum staking contract yet, but will be in future. If you have NEX on Ethereum, just swap it to the NEO chain and then you can stake.
Is there a fee for using the bridge?Yes. Users must always pay Ethereum network fees, both when swapping NEP-5 tokens for ERC-20 and in the other direction.
Is there a limit on how much I can swap?There is a minimum swap amount of 500 NEX.

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.

Tom

Compliance and Registration

Nash was the first Crypto Platform in Europe registered by the Financial Market Authority (FMA) of Liechtenstein. Nash is also registered with the De Nederlandsche Bank N.V. (DNB).

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Nash’s Crypto Platform and Investment App uses state-of-the art, audited security measures and is fully non-custodial.

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Rates may vary over time. Crypto-powered earnings on Nash are not covered by any deposit guarantee schemes like bank savings accounts and involve risks unique to the underlying technologies: (i) Exploitations of the smart contracts used; (ii) Forex fluctations between your national currency and the US dollar, which underlies crypto earnings assets; (iii) USD stablecoins losing their peg.

Nash is a trademark of Neon Exchange Aktiengesellschaft. Neon Exchange Aktiengesellschaft is an exchange bureau registered with the FMA of Liechtenstein (TT Exchange Service Provider Nr. 261096 as defined by the Token- und VT-Dienstleister-Gesetz / TVTG, 3 October 2019)

Nash Exchange B.V. is registered with De Nederlandsche Bank N.V. (DNB) as a provider of crypto services. DNB conducts supervision and monitors Nash Exchange B.V.’s compliance with the Money Laundering and Terrorist Financing Prevention Act and the Sanctions Act 1977. Nash Exchange B.V. is not under the prudential supervision of DNB nor under business conduct supervision of the AFM. This means there is no supervision of financial requirements or business risks and no specific consumer financial protections.

Neon Exchange Aktiengesellschaft is a partner of Modulr Finance B.V., a company registered in the Netherlands with company number 81852401, which is authorised and regulated by the Dutch Central Bank (DNB) as an Electronic Money Institution (Firm Reference Number: R182870) for the issuance of electronic money and payment services. Your account and related payment services are provided by Modulr Finance B.V. Your funds will be held in one or more segregated accounts and safeguarded in line with the Financial Supervision Act – for more information please see this link.

Neon Exchange Aktiengesellschaft also provides fiat-crypto exchange services. These are separate and unrelated to the account and payment services you receive from Modulr Finance B.V.