I lead Business Development at Nash. We’re a non-custodial platform that offers crypto wallets secured by multi-party computation, a Layer-2 exchange and fiat gateway services.
We are currently expanding our fiat ramp offering in Europe and would like to propose adding euro markets for the IDLE governance token.
We are aware that high Ethereum network fees make it difficult to invest in IDLE on AMM DEXes like Uniswap and SushiSwap. Listing IDLE on Nash would offer a more cost-effective alternative for users in Europe.
Nash would be able to list IDLE on fiat spot markets, letting investors buy and sell using euros at a 1% fee. These markets aren’t part of our Layer-2 exchange, but operate directly from user wallets. We would also engage in co-marketing efforts with the Idle team and provide a profile of your project on our blog.
We would be very happy to hear your thoughts and for the Idle community to vote on this proposal.
Best regards,
Kellogg Fairbank
Head of Global BD, Nash
First of all, nice that you find $idle and reached out to us as community.
As far as i can see, you are a Dutchman to, like me. Or at least, life in it.
Me as user would love to see $idle on more exchanges. But still, we are at this point mostly a governance token.
$idle is evolving, so… slowly looking at more exchanges, isn’t bad i guess.
What’s the need for getting listed on Nash?
Why $idle, what do you see in it for the future for your platform?
How can Nash help $idle to get more awareness?
Thank you for your reply and your questions. The goal of Nash is to provide easy fiat on- and offboarding for users into DeFi. Current solutions charge outrageous fees which holds back (new) users of depositing euros/dollars directly in DeFi protocols. The alternative route would be to deposit fiat on a centralized exchange, buying crypto, transfering to metamask, and swap. This hassle and/or high costs is a barrier to entry for new users. Listing $IDLE on our fiatramp (with the approval of the Idle community of course) would improve the onboarding and thereby the democracy of the governance process. Nash is currently expanding its fiat-services to a wide range of DeFi protocols, which could in turn increase the exposure of Idle Finance to users of other DeFi protocols as well.
I am terribly sorry for the slow response, the notification of the forum fell between the cracks :).
There will be no listing fee for Idle. Charging listing fees is not the business model of Nash. With our mobile app at Nash we are trying to supply as many people as possible in DeFi with easy fiat-onboarding and an easy user-experience. By listing a token like IDLE on our fiat ramps we hope to gain extra users for the Nash wallet (without incurring any costs for Idle, like listing fees).
Thanks @NashBizdev for the info you provided and the definitely interesting initiative you’re proposing to our community.
We, as Idle Labs, are in favor of this initiative as long as it encourages stability of the platform, long-term holding/involvement with the protocol and governance, and foster a higher grade of decentralization for the governance system.
With that being said, I would need to reiterate Idle Labs policy limitations, specifically in this paragraph:
We would then advise having @Salome or @emixprime following closely this kind of initiative.
I think this this a very good option to start with! In my view because it can make IDLE more accessible to European members.
I personally also think that if IDLE gets listed on new platforms this can help open doors to more users. If this is something the community to wish moving forward I will look at this initiative and would follow up with any leads provided.
