Fintech company Nash has announced a number of updates to its non-custodial exchange platform, including an update to its NEX token staking contract, integration of global currency partner Carbon Money, and listing of the Moonlight LX token.
Staking contract update
Staking NEX tokens on Nash allows users to receive a portion of exchange and payment service fees generated by the platform. The percentage of fees able to be claimed per token is determined by the length of time the token is staked. This amount scales linearly between a 25% fee share for a 1-month stake, up to a 75% fee share for a 2-year stake.
On October 1st, Nash announced an update to the staking contract that removed a temporary limitation on the number of stakes Nash Exchange users were able to initiate, previously set to eight. In a response on the Nash community forum, Nash co-founder, Fabio Canesin explained:
There is no maximum number of stakes in the contract. As explained the current 8 stakes limitation is temporary and due to NEO’s 10 free GAS rule, meaning smart contracts executions that costs up to 10 GAS are free, after that you have to pay fees (that can be quite steep). We have some optimizations that can allow about 16 stakes to be created for free and will allow for people to use GAS to pay the fees for a bigger number of stakes.
Existing stakes on the Nash Exchange remain intact from before the update and no action is necessary on behalf of users. Nash states the ability to create unlimited stakes “will be enabled in a future release in the coming days.”
In addition to the removal of staking limitations, Nash developers included a migration routine in anticipation of a potential move to a new smart contract when NEO3 launches. Nash’s migration routine seeks to ensure “user funds [will] be safe during any transition.” The migration routine is only executable when four of the five Nash founders sign a transaction and doesn’t allow for the owners to withdraw tokens from the contract.
The staking smart contract was updated on September 30th and can be found on the Nash staking repository.
Carbon Money integration
Nash also announced the team has completed integration of Carbon Money into its non-custodial exchange platform. Carbon Money is among Nash’s global currency partners and offers an API for users to purchase cryptocurrency with credit or debit.
Through the Carbon Money API, Nash states its platform will now be “offering fiat ramps in Europe and other regions around the world.” Carbon Money currently supports Visa, Mastercard, and ApplePay.
Moonlight (LX) token listing
The LX token is paired with NEO, USDC, and ETH.
The full staking contract announcement can be found at the link below: