Nash launches beta liquidity mining program, offering 100,000 NEX in rewards
Nash is seeking to increase trading volume on its non-custodial exchange through incentive-based programs. Recently, Nash launched a beta liquidity mining program offering 100,000 NEX in rewards to participants. Nash founder, Fabio Canesin, is also personally rewarding five community members with Gunbot Pro licenses for contributing high trading volumes.
At midnight (UTC) on October 1st, Nash began offering a weekly reward pool of 20,000 NEX to users who trade on its exchange. The rewards pool will be split between maker and taker volume at 10,000 NEX each. The amount of NEX each user will receive is proportionate to the amount of volume they contribute to the platform.
Additionally, a reward distribution multiplier will be applied to users who’ve staked NEX tokens for 24-months. A stake of 500 NEX will net a 50% volume bonus, and a stake of 1,000 or more NEX will net a 100% volume bonus.
There is no registration or token locking necessary for participation. However, Nash states, “The threshold for receiving rewards is US $10,000 average volume per day during each week, with a minimum of four days above US $10,000.”
The following trading pairs are eligible during the first week of the program:
The competition will run for five weeks, and Nash will calculate rewards for maker and taker volumes at the end of each competition week. Leaderboards will be available at mining.nash.io beginning October 8th.
As an extra incentive, Nash co-founder, Fabio Canesin, is personally giving away five Gunbot Pro licences valued at 0.075 BTC each to members of the community.nash.io forum. The licences will be rewarded to the five members with the highest trading volumes.
Gunbot is a trading bot that automatically executes trading strategies on behalf of users that subscribe to its service. The development team claims the “software is almost completely based on community input.” Canesin previously awarded ten Gunbot Pro licenses prior to the liquidity mining program.
Looking forward, Nash intends to use community input and beta liquidity mining program results to establish future liquidity generation rewards.
On September 30th, 2020, Nash removed the following markets from its exchange: