🏅RECAP AMA EPID COMMUNITY x NASH CASH
🕖AMA Timing : 14th May 1PM UTC | 8 PM (GMT +7)
🏚Venue For AMA: @EPID_Community_VN
💰Reward Pool : 150$
➡️Part 1: Project Introduction.
Q1. Could you briefly introduce yourself as well as your project?
Hi everyone, iam Alan Scarborough, partner of NashCash.finance. I was graduated from the University of Western Australia. Before i joined the NashCash team, i worked for a crypto fund for three years. We started looking for good crypto team since 2017. We kept investing in crypto field even when the bear market of blockchain, and they eventually gave us 10x-100x returns in 2020-2021.
In Feb of 2021, the NashCash team member came for us and looking for investment. We went through all the basic theory and found the NashCash is really a fantastic project, and then we decided to worked together to make this happened.
Our team members are decentralized. Two of our programmers come from Belgium, one from Singapore, and the rest three of us from Australia. Our team members successfully developed several crypto product such as EOS Dapp, Ethereum ICO platform, and Quantitative trading software, so we are confident with our development.
Q2. What makes the NASH CASH project stand out more than the projects in the same direction at the moment?
NashCash.finance is the first game theory stablecoin project using Decentralized Finance (DeFi) protocol. NashCash.finance tries to seek a stable price range in the game of market economy among players of different identities, so as to provide a next-generation stablecoin without collateral for the DeFi field.
NashCash aims to solve one of the biggest economic problems: inflation. Due to advancements in Smart Contract technology, we’ve created a currency that can be used as its own product to create 24/7 global market demand. In essense, we’re trying to create on-chain demand through a NashCash burning mechanism. When more than 50% of NashCash supply is burned, the demand outweighs the supply, indicating excess market demand.
NashCash also hopes to create a game process by allowing players with different identities to make such decisions as buying, selling, pledging, burning and burning at multiple times the base speed according to different market sentiments. In addition, after acquiring as many users as possible from various smart chains, it hopes to seek a stable price range through the game process that truly reflects the value of the stablecoin.
Q3. What are the memorable milestones of NASH CASH in the research and development process?
We first confirmed that the most urgent need in the current DeFi market is that there is currently no stable currency without collateral. Any stablecoin (usdt) that requires real asset collateral is not a stablecoin in the true sense, because when the US dollar has a systemic risk, any stable currency that uses the US dollar as collateral will have risks.
Secondly, we believe that “stability” in the true sense comes from people’s games. For example, when everyone believes that a stock will rise or fall, the price will continue to fluctuate. Only when some people are selling and another part are buying, the price will be stable.
So we finally decided to use the Nash equilibrium theory to determine what price is truly stable. In the Nash equilibrium, if everyone adopts the same strategy, the best benefits cannot be achieved. Only when each participant adopts different identities to make different decisions, the entire system will reach its best state.
Q4. What does NASH CASH plan to do to attract more users in the upcoming time?
In the NashCash.finance system, we have introduced the ‘Global Burning Index’. Higher than the 'Global Burning Index' will bring substantial benefits to participants. But if the participant sample is too small, you won't get much return from it (because the global burn indicator will only decrease as the number of participants increases).
So those who get up early and participate in NashCash.finance will take the initiative to invite more people to join the system. This will bring them two benefits, one of which will lower the ‘Global Burning Index’ and bring them additional income. Secondly, the entire system will be more stable and the price will be more stable, thereby reducing the risk of price fluctuations.
So in our design, participants will spontaneously introduce NashCash.finance to others to attract more participants. Of course, we will follow the Binance ecosystem more closely, and extend the project to Ethereum, Matic, Polkadot and other chains, so that more participants can join NashCash.finance.
➡️Part 2: Question From Twitter (5 best questions).
Can you please tell me a little more about the NASH CASH management team and some of their background? Personally, I've seen many projects kicked off with inexperienced team members and some of them not going well due to avoidable mistakes?
Of course, as I introduced in Q1, our members have many years of blockchain investment experience, and our developers have successfully developed multiple blockchain products. They have very rich experience in dealing with emergencies. .
Secondly, our product has been online for three days. Except that we encountered a small front-end BUG in the first two hours of the launch, we have been operating smoothly until now.
I believe we have this technical strength to allow participants to experience our products better.
Our contract is being audited by Knownsec and has now passed the preliminary review. The official audit report will be announced today. This news will also make participants more assured to participate in NashCash.finance.
According to the project's roadmap, what are your most important next priorities? Does #Nashcash team have enough Funds and Community to achieve those milestones?
According to our development roadmap, we have completed all the theoretical development of stablecoins based on the Nash equilibrium. You can come to nashcash.fi to experience our products at any time. In order to make this game more fair, we will launch DAO products. Let all participants use voting to determine some key coefficients based on Nash equilibrium. This voting system will also add game factors to ensure that such DAOs will not be manipulated by whales.
This system has entered the development stage, and will meet with you in a short time.
How does the team perceive retail investors Nashcash token holders? Where do you see value in ‘us’ and what could we do to support your work most effectively?
We welcome real investors very much, as I said in the previous stage Q4.
More and more participants will make NashCash.finance more and more stable, and this is the key to our design of a stable currency. Every decision of each participant will enrich our ecosystem. We assume three different participant identities. We will succeed only when there are enough samples of these three participants. So please invite your friends to participate in NashCash.finance!
Each project has interesting stories before it is created. So can you tell people about the story that gave you the motivation to build and develop a great project like your?
Sure!I am very willing to share some of my experiences before participating in this project. As I said just now, we have invested in many blockchain projects, including the popular stablecoin concept last year. However, many stablecoin concept projects have not been very successful. Some projects have been abandoned, and some projects can no longer stabilize in a price range.
And stablecoin is an indispensable factor in the blockchain. Because of the fluctuations in the prices of BTC and ETH, in the absence of stable coins, it is difficult for us to measure the rise and fall of another currency. So the demand for stablecoins is very important to the blockchain.
Alan, [14.05.21 20:24]
This is why we choose to deepen the stablecoin products and join the NashCash.finance team.😀
Now have many super hackers so security, scalability, and data privacy are three aspects that are very important at enterprize level, how NASHCASH foundation handle these issues??
Our contract will be audited very soon. In the future, we will invite more contract security companies to audit our code. In the early stage of the project, we will invite everyone to pledge assets in our contract to obtain our governance token, ‘NASH’. After the Seed Phase is over, we will no longer pledge any funds, and all funds participating in NashCash.finance will be in the LP token. So participating in NashCash.finance will be very safe.
➡️Part 3: Free asking (5 best questions)
Currently most investors only care about profits at the moment but ignore the long-term benefits. So can you give them some reasons why they should buy and hold your token in the long term?
Our team will not draw any benefits from NashCash.finance. Our NASH token is a governance token, and it will only play a governance role. The NASH that we released in the Seed Phase is a process of ecological enrichment. All participants who pledge assets will get these NASH for free. NC token will play the role of stable currency in NashCash.finance. So our team will have the same conditions as everyone to participate in this game. Therefore, we will not pursue the benefits of NashCash.finance.
Token burning is beneficial to any project because it can control the number of tokens in circulation and provide investors with greater incentives. Does your great project have a plan for token burning?
The main function of our NC token is burning. Only when burning and additional issuance reach a balance, NC will reflect the value of stablecoins. So as a stablecoin project, burning will be one of our core functions. A lot of burning will bring more profit, so come to NashCash.fi anytime to experience the ‘burn’ function.
As the NASH governing token, we currently do not have any combustion function set. Because burning governance tokens will make the number of participants less and less. But in the DAO system, our voting function will join the game. The votes that win the vote will be recycled and entered into the repurchase system, so that the entire ecosystem will not be manipulated by whales.
Some projects cannot handle the stress of Bear market and the recession. Covid virus is not helping as well. How will you prevent this bad situations that the crypto markets have?
Our members come from all over the world, which will free us from the impact of regional COVID-19 on the team. As I said earlier, our team will not profit from NashCash.finance, so the impact of the bear market on us is not particularly important. We have completed the financing spontaneously and can guarantee that our roadmap can progress to Q4 2021. So we are confident that we will continue to update the project and bring more project progress.
What is the structure of this project , is it decentralised or a open sourced protocol where everybody can contribute? If so, how does the governance plan on being handled??
The structure of the project is based on the ‘Nash Equilibrium stablecoin protocol. The agreement makes the NC token reach a stable stage through different options made by each participant. The project will be completely open source and audited. So please feel free to participate in NashCash.fi. NASH token will be our governance token. Holders of NASH will have the right to initiate voting or participate in voting. The voting will revolve around the setting of some key coefficients of the'Nash Equilibrium'.
Can you share your fundraising situation and how your private and public offering tokens are distributed? And what are the plans for the next IEO? What should we prepare if we want to participate?
We are completely self-financing and complete most of the development plan. As I mentioned in the question just now, our funds will ensure that we can complete the development plan to Q4 2021. We don't have any private placements, and we don't have any ICOs. All our token distribution modes are Fair Launch mode. Everyone can get our token for free. We will ensure that everyone has a fair right to participate in NashCash.finance. So you only need to pledge your single asset to our contract in the Seed Phase, and we will return all funds in 7 days. The free Nash will be your right to govern in NashCash.finance.