The NEX token -
December 14, 2021

The NEX token

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
? 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.
  • 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.

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.

A concept design for a NEX card on the app home screen.

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.

Example notifications and promotional cards for NEX specials.

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.

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.

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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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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.