the marketing promotion that join the lottery for free is really not totally free.
you need to be transparent at the very beginning that they do need to have at least $25 in their account and do even one trade within your platform.
i would take this as not free lottery though...and another catch, you need to complete the kyc to fully utilise this platform? i know it is sop for every legit exchange but for a new one, i wont trust my docs yet.
btw do you have the stats of registrants for this lottery program?
Since you don't loose 1 cent i think calling it free is legit, you don't even pay the trade fee as a maker. Anyway the terms and conditions are clearly stated on the lottery page, and i think you would agree that the 25$ balance is a needed barrier against fake accounts and bots, giving a true chance of winning to everyone.
The beta on 31 march will be available only to the community members that joined the lottery.
Lastly, there's no need of KYC. KYC is only needed to increase the daily trade volume above 1k.
This is the first DEX project i will be seeing, coming up with an STO. It is a good development.
If i am not missing it, i think a lot of crypto enthusiasts are now beginning to have interest in DEX
No there are also some others who are building a DEX and want to run it with security tokens I think.
Acquiring the needed licenses is tough, building a revolutionary product and make a true DEX is even harder.
Nash is the first mover, and all DEX running are FAKE DEX, last example, BINANCE DEX where you are not allowed to trade the real tokens but only tethers (ETH.B ecc) based on a centralized blockchain owned by binance.
If you build a true decentralized exchange, do you even need a license for that? Nobody can stop it anyway and contributing to its code base shouldn't be illegal or is it?
Even if it's a true DEX, doesn't mean that can ignore the laws, especially if it's a security token and wants to support tokenized stocks and forex trading too. Next years, regulations will hit hard eventually and only few exchanges will survive. Nash is a fully non custodial regulated dex, that's why US investors and traders are welcome since launch. KYC is needed only for increasing the trading limits above 1k/day.
And if the developers of a DEX are not known? Or what happens if someone contributes code to a DEX, does that violate the law?
Sadly, the identity of many exchange's (even CEX) devs and operators is not known. Take a look at this article for example:
https://shitcoinoffering.com/hitbtc-exchange-mcafee-tolls/Anyway i don't really understand your question, a DEX doesn't need to be opensource, and if a DEX or a CEX violates the laws the whole company is in danger.
Nash's team is very well known and you can easily verify all the info online, the founders are from CoZ that basically build the whole NEO ecosystem and brought it outside China.