NASDEX — Telegram AMA — September 23
On Thursday, September 23, we had the pleasure to welcome to our Telegram chat:
We asked them questions about the development of NASDEX.
Some sentences have been slightly edited for readability but the meaning has been conserved.
NASDEX is a decentralized exchange that offers our users the ability to trade tokenized equities on blockchain via our minting and trading mechanism that mimics the offchain 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.
Q — Ayeley from GAINS: Please introduce yourself. What did you do before crypto and did you have any other previous venture in crypto?
A — Josh from NASDEX : So I’m Josh and I’m a co-founder of NASDEX. My background is actually in traditional finance. I’ve been an institutional investor for the past 15 years. Worked at Morgan Stanley, Deutsche bank, and a lot of major wall street firms. But of course, I’ve seen the light and now all-in crypto and DeFi. My experience in tradfi is actually the reason why I’m super excited about NASDEX and in general how DEFI will take over Tradfi. And I think that NASDEX will make that reality one step closer to actuality.
A — Belinda from NASDEX : Hello all, I went down the rabbit hole of blockchain in 2018 when I was a consultant in Dubai. Ever since then, I have helped quite a number of projects, tokens funds, and exchanges with marketing and community efforts. Here in NASDEX, I will also be mainly working on PR, marketing, and community. I’m excited about NASDEX too because I really see it as a good product bridging crypto and equities so more people around us can get to enjoy the benefit of DeFi!. I'm sure 99% of the people out there don’t know about liquidity mining.
Q — Ayeley from GAINS: What is NASDEX about in a few simple sentences? How long have you been working on it and what was the inspiration behind it?
A — Josh from NASDEX : Well to put it simply — NASDEX is a decentralized exchange for tokenized equity.
The general idea is that we want to bring the equity asset class onto blockchain. And feature the additional functions and use cases that one can achieve on the blockchain.
Personally, I’ve been an institutional equity investor all my life but I’ve seen the power of crypto and the rich features of defi. I want to help create a bridge between these two wonderful asset classes and offer this product in the most user friendly way possible.
A — Belinda from NASDEX : Yea so NASDEX 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.
here is a preview of the UI
Q — Ayeley from GAINS: There was recently the Evergrande crisis which affected the entire market. Can you share some info on how the average investor can take advantage of a situation like this next time, with the help of NASDEX.
A — Josh from NASDEX: Sure we actually wrote an article on how exactly investors could use NASDEX for a situation such as Evergrande
Essentially. Users could decide to take a Short position (or a long position) depending on their view of the tokenized Evergrande token on NASDEX. So as Evergrande declined in value, the user could actually benefit
It’s a great way to hedge their crypto portfolio as many tokens started to be impacted by the Evergrande situation. Anyways, we hope to push out NASDEX asap. So users can have access to these features.
Q — Twitter user @SumanMo11010184: What is the difference between DeFi Tokenized equity Yield VS Traditional Equity Yield and How Tokenized equity can give a high yield?
A — Josh from NASDEX : Sure this is a very good question let me take a stab at it.
The traditional equity yield or any asset class yield as we understand in the real world is currently extremely low. Take most of the high-growth FANG stocks, they barely pay any dividends and yields. Even for stocks that do pay out dividends, the yields are usually extremely low like low single digits. But for DeFi yield. We are talking about a different level.
When you farm and stake, you can usually get double-digit yields and that’s the case for NASDEX:
We expect that when users stake and farm tokenized equity on NASDEX, the additional yield that they will receive is in the range of 20–30%, which is a lot more attractive than traditional equity yield
Q — Telegram user Am4 SF: Would you share with us what kind of 20 stocks would be traded at NASDEX and how were they chosen?
A — Belinda from NASDEX: Good question. We will list the major stocks like the large-cap ones first on NASDEX. $NSDX token holders will be able to propose/ vote new stock listing too.
Q — Ayeley from GAINS: What role will the token play in the NASDEX ecosystem?
A — Josh from NASDEX : Our token is actually a pretty important part of our ecosystem. Firstly, it’s mainly to serve to share in the platform revenue as NASDEX grows.
NSDX holders will be able to share in the revenues of NASDEX through buy-and-distribute, buy-and-burn, or direct profit share mechanisms. Actual mechanics will be voted through the DAO by the community. Another function of NSDX is to serve as collateral in the minting of tokenized stocks. And finally, there are additional governance features like the ability to vote on new stocks to list on the exchange.
Q — Telegram user dayana: I read that NASDEX will also feature staking and farming, and we all know Staking and farming is a new trend. What betting options are available for NASDEX? Is there an incentive to gamble? What are the various ways to earn NASDEX tokens and is there a limit to the number of NASDEX I can earn?
A — Belinda from NASDEX : To get $NSDX, you can purchase it directly on DEX/CEX or provide liquidity on our DEX (as said, we provide 40% of the total token allocation to this) We will also have both short and long options. Synthetic asset prices do tend to fluctuate versus real-world asset prices. It’s an opportunity for arbitrage esp. for high-frequency players to bring down the discount/premium vs the real price.
Q — Ayeley from GAINS: how has support for the project been. Did you raise funds so far? If so, how did you handle them? Are you planning to do any future raises?
A — Josh from NASDEX: Yes we have finished our private rounds with about 1.3mn raised
Q — Ayeley from GAINS: What sets NASDEX apart from the competition?
A — Josh from NASDEX: So the main feature is of course the tokenization of equity on-chain. You can buy your favorite stocks through our dex without the need for KYC. So this is already pretty differentiated. And then you can stake these tokenized stocks to earn even more yield. The dex is decentralized meaning everyone has access and trading is 24/7.
We’ll have some Asian stocks on the platform for the first time ever like Evergrande (if still around), Tencent, Toyota, etc Our platform will gradually increase the offerings by giving customers exposure to ETFs, indices, and additional asset classes and derivatives as well. So basically NASDEX is an ideal place for existing crypto users to diversify their portfolio and traditional investors getting to invest in DeFi.
Q — Ayeley from GAINS: What should we expect in the next weeks and months?
A — Belinda from NASDEX: I will take this question. In terms of product, we are releasing our MVP in November so you can expect all the functions live including minting, burning, staking, and farming!. We just published the product write-up:
Initially, NASDEX DEX will be on Polygon. Later we will go multi-chain including BSC, Solana, ETH. As mentioned by Josh, NSDX token holders can propose a new stock listing on NASDEX. We will keep bringing more assets to our DEX and iterating the product. The team is pro-regulation so we are talking with lawyers and regulators closely too.
Q — Telegram user Ariana: As we can see now that NFT is trending among millennials, Are you going to have a game plan to have NFT on your platform? If yes, can you tell us your project plan at NFT? Does your Project have a marketing strategy to expand social networks to reach more Investors and your Project community? And how will you handle it?
A — Belinda from NASDEX: We do have an NFT drop to our IDO participants. It’s called “NASDEX Stonk Gang” This is an exclusive reveal in Gains Community!
Belinda, thanks for coming into our community, and taking the time to answer our questions. Anything else you’d like to say? Where can we follow you to stay updated? — Ayeley Commodore-Mensah from GAINS
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