I bought ETH or an ERC-20 token on Nash but am unable to withdraw from the trading contract because I don’t have any ETH in my personal account.
This is a temporary problem that results from Nash’s cross-chain architecture. Users are able to trade to a chain where they don’t already own the token used for fees. They can also purchase Ethereum-based assets from Nash, which are transferred directly to the trading contract.
We will be implementing a solution shortly that will allow you to withdraw even if your personal account is empty. For now, either:
- Transfer ETH you already own to your Nash personal account or purchase it through our partners.
- Complete Tier 1 verification and contact our support team. If you have verified your identity, we will support you with a small amount of ETH so you can complete your withdrawal.
This fee issue is not present on other exchanges because they do not offer Nash’s combination of high-performance trading with decentralized infrastructure. Centralized exchanges have custody of users’ assets, so it is not a problem for them to subtract withdrawal fees. Decentralized exchanges achieve cross-chain trading either by atomic swaps (which require that the user already has the network fee token, like ETH) or token wrapping (which involves a custodian).
Nash avoids these solutions by using state channels to combine security with fast trading speeds. On the Nash platform these are referred to as the “trading contract”. However, all transfers in and out of this contract must be authorized by your personal account. For this reason, you need ETH in your personal account to sign the withdrawal transaction.
We are currently implementing a solution that will allow you to authorize withdrawals even if your personal account is empty. In the meantime, we are providing support with withdrawal fees for customers who have completed Tier 1 identity verification.