Inside NestX: Exclusive Interview on Overcoming Hurdles, Confronting Challenges and Charting New Course

June 7, 2024

NestX, an NFT marketplace with a presence on Shibarium—Shiba Inu’s innovative layer-2 scaling solution—and other major blockchains, recently shared an unexpected update with its community. The platform, known for its seamless cross-chain functionality and deep integration with the vibrant Shiba Inu ecosystem, has found itself navigating unanticipated operational challenges that momentarily hampered its ambitious expansion plans and its ability to introduce new features to its growing user base.

In an exclusive interview with The Shib Daily, NestX offers a candid look at the challenges it faces after the unexpected absence of a key developer. With candor and resilience, a pseudonymous managing staff member, known only by the name Henky, offered an inside look at how NestX is rising to the occasion, adapting, and charting a bold new course in the dynamic world of NFTs.

NestX is a tight-knit team composed of Henky; Akira, a seasoned DeFi expert with battle-tested knowledge in yield farming, liquidity pools, and tokenomics; a lawyer working on the platform’s XGuard KYC solution; Jake, the core developer; and a dedicated moderation team.

The absence of Jake has temporarily stalled planned enhancements like UI improvements and new features. However, Henky assured users that core functionalities on Shibarium, such as raffles, trading, and minting, remain fully operational.

“We have already improved these aspects based on feedback from Shibarium Chain members. We recently renewed our hosting, ensuring that these features remain operational,” Henky told The Shib Daily. “While I’m pleased that NestX is operating smoothly and we have already made significant improvements, Jake’s absence has temporarily halted our plans for future enhancements, such as a better user interface and new features.”

NestX’s commitment to transparency shines through its proactive communication with the community. “We believe transparency is crucial, though this situation is sensitive due to personal health issues,” Henky explained. “We delayed the announcement to give Jake time to inform the community himself. Our community and Shibarium deserve honesty and transparency, which we always strive to uphold.”

In the face of this challenge, the NestX team remains resilient and proactive. Contingency plans are operational, including introducing further benefits for BBC holders, who, aside from benefiting from “extra low trading fees on NestX,” will soon enjoy “staking rewards and other perks.”

Henky also shared they are currently seeking a new developer to continue enhancing NestX once access to the systems is restored. “Only the core developer has access to NestX’s servers, systems, and contracts. Jake has promised to transfer these to the team, and efforts are ongoing to contact him and facilitate this transfer,” Henky shared. “We are regularly trying to contact Jake, first to check on his well-being and second to facilitate the transfer of ownership.”

“We deeply appreciate everyone’s support and will continue to provide open and transparent updates. Raffles, trading, and minting on Shibarium remain fully operational. Additionally, our XGuard KYC product is unaffected by Jake’s absence,” Henky said when asked for a message to the community.

Reflecting on the situation, Henky emphasized the importance of mental health awareness in the tech and crypto industries, advocating for open communication and support systems. “It’s essential to discuss mental health, even if it feels uncomfortable, as sharing can be the first step towards improvement and receiving support from friends and colleagues. If you’re experiencing feelings of depression or anxiety, it’s important to talk about it. Many countries offer anonymous support options, which can be a valuable first step towards treatment.”

While the timeline for regaining full access and resuming development remains uncertain, NestX remains steadfast in its dedication to its users and the future of the platform.

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