The NEX token

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

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.
• 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.

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.

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.

Special promotions

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.

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.

Get the Nash app here

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.