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GAINS Associates

NASDEX — Telegram AMA — January 14

On Friday, January 14, we had the pleasure to welcome to our Telegram chat:

Belinda Zhou, Co-founder

We asked her questions about the development of NASDEX.

Some sentences have been slightly edited for readability but the meaning has been conserved.

Summary

NASDEX is a decentralized exchange that offers users the ability to trade tokenized equities on blockchain via minting and trading mechanism that mimics the off-chain economics of the real world equity price.

NASDEX is a decentralized exchange for the trading of tokenized equities on the blockchain. It is designed to serve as a bridge between the worlds of crypto and equity. The team behind NASDEX believes that the on-chain adoption of the equity asset class will deliver increased accessibility with improved capabilities for both the crypto and the equity investor.

NASDEX will be tapping into the equity asset class market in its entirety, which is around USD 100 trillion market cap. This is a market with a size over 60x the size of the current total crypto market cap. The successful tokenization and on-chain trading of the equity asset class opens the gate for further tokenization of additional off-chain assets such as commodities, bonds, real estate, etc.

About NASDEX

Q — Ayeley from GAINS: Can you introduce NASDEX briefly for the new audience? We’ve had quite a number of people join since the last time you were here.

A — Belinda from NASDEX: NASDEX is essentially a DEX for tokenized asset trading. We are focused on Asian stocks at the moment

The DEX will allow users the ability to mint, trade, farm, and burn tokenized stocks as well as stake our native token $nsdx. That’s only NASDEX V1, which is completed by now and to be launched next week!. It is a user-friendly platform where investors could buy and sell tokenized equity as easily as crypto with 24/7 trading, fractionalized share buying, and yield farming. So on NASDEX, a user from Russia/ Turkey/ Vietnam/ Nigeria can purchase stocks such as Alibaba and farm Baba/USDT pair to earn liquidity mining rewards and swap fees.

We are glad that we have turned this into reality via the upcoming MVP launch! done

Q — Ayeley from GAINS: This time you are coming to the AMA with a finished product. What are the exciting features on NASDEX that we should be excited about?

A — Belinda from NASDEX: So I briefly mentioned the core functions on NASDEX V1 just now: mint burn trade farm stake. For me, the most exciting thing is that NASDEX will offer the first-ever Asian stock on-chain. At the same time, we open long farm and short farm for users to enjoy the perks of liquidity mining, which is never seen in traditional finance.

The tokenization would allow users to expose traditional assets to the tech and building blocks that are only available on a blockchain. Like liquidity mining, which is not accessible in Tradfi. Such as building layers of capital efficiency across the whole product, at the top & bottom line. As DeFi allows a lot of areas of finance to interact seamlessly with each other this can bring about never seen before advantages to traditional financial assets.

Q — Ayeley from GAINS: What can users do on the NASDEX platform and how they can benefit from it? The last time we had the AMA was just around the time of the Evergrande saga, and Josh talked about how traders could take advantage of the NASDEX platform to earn. That was really cool

A — Belinda from NASDEX: So our platform is a DEX that allows the trading of tokenized equity. There are many use cases of the DEX. Naturally, users can go long tokenized equities or go short tokenized equities. At the same time, they can deposit collateral into a collateral debt position and mint tokenized equities both as long positions and as short position. And with these tokenized equities, users can earn staking yield by staking it on NASDEX.

Q — Telegram user 🌟𝙕𝙖𝙝𝙞𝙧🌟: What specific users is NASDEX intended for? By mixing tokens and stocks, would it be difficult to use for new users who are not familiar with stocks, cryptocurrencies, or decentralized finance? Is it advisable for beginners to use NASDEX?

A — Belinda from NASDEX: we intend to make this user-friendly for both seasoned crypto traders for them to rebalance their portfolio for stock traders, we are onboarding them to learn Defi in a very web3 way. users guide will be early next week. will be very simple, suggest y’all check it out by then. we have trading rewards competition and mining available next week

Q — Telegram user Coco T.: In order to get a tokenized stock, do we manually mint it or does the platform have any tutorial for it? Will there be a fee for every transaction?

A — Belinda from NASDEX: You can either mint or swap from the DEX like how you use Uniswap. there will be a swap fee and transaction fee but very less since it’s on Polygon

Token

Q — Telegram user Hiho: $NASDEX Token is the main token of this platform. What are some uses of the $NSDX token?

A — Belinda from NASDEX: $NSDX is our native token. It shares the profit of NASDEX so the higher our trading vol. is, the more value $NSDX captures

Security

Q — Twitter user @NFTpromotert: When speaking about DeFi platforms there is a perception of great risk, as they are commonly hacked, but how is “NASDEX” Capital prepared or what strategies does it plan to implement to mitigate or fully address these security issues that are present in the DeFi space?

A — Belinda from NASDEX: Security is definitely one of the priorities in our development. There has been a lot of internal testing and external testing to make sure the product runs smoothly. We also stress test and attack our own protocol at the testnet. Trying to find loopholes

After the product is live, we will launch the bug bounty with Immunefi to get more developers on board.

Partnerships

Q — Ayeley from GAINS: You are working with big-name oracles Chainlink and Band Protocol. What has been done with them so far in terms of integration? What are the biggest challenges?

A — Belinda from NASDEX: We are working with both Chainlink and Band to provide tokenized stocks on NASDEX. The progress has been smooth and we have already tokenized a few stocks that we will launch when our MVP is ready.

Working with them has been great and very professional. The biggest challenges are actually with getting the permissions from the exchanges and the API providers to use the data. We spent countless hours explaining over and over again to the API providers what a blockchain is and what we plan to do with the data. Some providers continue to be uncomfortable, but luckily with the oracle’s help, we were able to convince a few API providers to work with us and provide the necessary price feed for our tokenization. At the moment we are in the middle of signing commercial agreements with a few key exchange and API providers to expand the stocks on our platform.

Q — Telegram user Anitax: Can you explain what role these two platforms play in the NASDEX ecosystem? How do they benefit in the long run by partnering and integrating into your ecosystem benefit in the long run?

A — Belinda from NASDEX: Chainlink and Band protocol are our oracle partners. The key for NASDEX is to bring traditional stock prices on chain. Asian stock price on chain has never been done before so they are creating something revolutionary with us. We are together building infra for the DeFi world.

Business Development

Q — Ayeley from GAINS: What’s your future plan in terms of user acquisition and token value accrual?

A — Belinda from NASDEX:🖼 In terms of user acquisition, we have been doing the following activities:

1. Product relevant quiz: to educate users about the product: Tester program (private & open)
2. DeFi contest with Polygon
3. Stonk Minter NFT campaign
4. AMAs with partners
5. Users tutorials and feedbacks

So make sure you follow our Twitter to get notices on these fun campaigns. In terms of token value accrual: Revenues on NASDEX are generated in two ways:

1️⃣ Through Swaps on #NASDEX
2️⃣ When Collateral Debt Positions are closed

These platform revenues are used to provide value over time to $NSDX. — Fees generated through Swaps on NASDEX Whenever a swap activity takes place on #NASDEX, 0.3% is charged as a transaction fee. 0.25% of this fee is distributed to users who assume the role of liquidity providers while 0.05% goes to the protocol.

— Fees are generated when Collateral Debt Positions(CDPs) are closed. CDPs are opened on #NASDEX when users assume the role of an nAsset minter in a bid to mint a tokenized stock. Whenever the CDPs are closed, a 0.5% fee is charged for the collateral withdrawn.

At the initial launch of #NASDEX, there will be no fees charged so as to allow users to get exposure to the product. 🎉

So everyone here can try it out without paying the fee for closing a position

$NSDX holders will be able to get a share of revenue generated by NASDEX but the exact distribution method will be decided by NASDEX DAO in later stages.

Q — Twitter user @Pedri_dri: The NASDEX task force mentioned that the biggest challenges are actually getting the permissions from traditional exchanges and API providers to use the data. What plan does NASDEX have to obtain the permits required by the exchanges and how will the API providers obtain it?

A — Belinda from NASDEX: cool. I like this question since it’s actually something we have been dealing with. So we have worked with Chainlink and Bank Protocol to convince data providers from these traditional exchanges to work with us. It takes a bit longer because they are corporate but the good news is we have won the collab with our professionalism and dedication

Belinda, thanks for coming into our community again, with all these lovely updates. It was a really informative session. How can we stay up to date with all the activities and news from NASDEX? — Ayeley Commodore-Mensah from GAINS

Thanks Gains team and community for having me! The community can find us on Twitter | Telegram | Discord. We have lots of fun giveaways and campaigns running next week. Don’t miss out — Belinda Zhou from Nasdex

GAINS Associates is the World’s First Decentralized VC, allowing anyone that holds $GAINS to invest in the crypto unicorns of tomorrow. With over 3 years of experience and several ultra-high return deals, we are removing the barriers of entry to investing and changing the world, one deal at a time.

GAINS stands for Group Action Is Never Small, embodying the collaborative spirit that is the essence of blockchain and decentralization.

In addition, GAINS provides daily news, articles, video interviews as well as fun & educational events.

Website | Telegram ANN | Telegram Group | Discord | Twitter | YouTube

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GAINS Associates provides you with the latest news and research in blockchain and crypto. It’s a community for everyone to learn and grow together.

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