Sad to see you guys go, but Nexus has officially shut down.
A Post Mortem
Nexus Crypto Services was a portfolio management tool "Nexus Folio" that at one point was ahead of the curve in allowing defi users to connect multiple wallets from various chains in order to see all their holdings in one place, with a pleasing UI.
Started during the crypto boom of 2021, we set out to become the premier crypto portfolio for defi nerds.
Along the way, we faced many structural challenges and botched partnerships (the defi crypto space is... let's say, something you need to know how to navigate).
Our initial aim was to facilitate sovereignty via decentralized finance. As the space grew, so did the meme coins. We began to feel like we're part of this grand lottery, and our lofty ideals of "sound money" were quickly replaced by the echos of "Pepe coin" and various iterations of a wolf/dog "token".
While I (Jp, CEO) still strongly believe in crypto, sound money, blockchain and the underlying technologies - 99% of the defi space are tokens that will not be around in 6 months to a year.
The team we assembled was also working for sweat equity, and eventually there is a point where morale wanes and productivity slips.
For these reasons, we've decided to shut down Nexus and Nexus Folio:
- Other teams raised, we didn't. Too hard to grind it out while also holding down a job.
- Our original vision was idealistic, we never found product market fit.
- Inexperience (on my part as a CEO) and team dynamics were hard to navigate (lots of design by committee, meetings turned into hang out sessions).
Thank you to team that taught me so much, it was a wonderful learning experience. The tech stack we used was Next.JS, NestJS, Firebase, Typesense, and a whole lot of cloud functions. A few smart contracts and a custom TG/Discord bot.
Looking back on the mere technical achievements and how it stretched my engineering capabilities made this journey worthwhile.
Once again, thanks, and farewell :)
Nexus Crypto Services was a portfolio management tool "Nexus Folio" that at one point was ahead of the curve in allowing defi users to connect multiple wallets from various chains in order to see all their holdings in one place, with a pleasing UI.
Started during the crypto boom of 2021, we set out to become the premier crypto portfolio for defi nerds.
Along the way, we faced many structural challenges and botched partnerships (the defi crypto space is... let's say, something you need to know how to navigate).
Our initial aim was to facilitate sovereignty via decentralized finance. As the space grew, so did the meme coins. We began to feel like we're part of this grand lottery, and our lofty ideals of "sound money" were quickly replaced by the echos of "Pepe coin" and various iterations of a wolf/dog "token".
While I (Jp, CEO) still strongly believe in crypto, sound money, blockchain and the underlying technologies - 99% of the defi space are tokens that will not be around in 6 months to a year.
The team we assembled was also working for sweat equity, and eventually there is a point where morale wanes and productivity slips.
For these reasons, we've decided to shut down Nexus and Nexus Folio:
- Other teams raised, we didn't. Too hard to grind it out while also holding down a job.
- Our original vision was idealistic, we never found product market fit.
- Inexperience (on my part as a CEO) and team dynamics were hard to navigate (lots of design by committee, meetings turned into hang out sessions).
Thank you to team that taught me so much, it was a wonderful learning experience. The tech stack we used was Next.JS, NestJS, Firebase, Typesense, and a whole lot of cloud functions. A few smart contracts and a custom TG/Discord bot.
Looking back on the mere technical achievements and how it stretched my engineering capabilities made this journey worthwhile.
Once again, thanks, and farewell :)