The official explanation of the word in German itself is that it was just some slang for "national socialist", like "commie" is for "communist" or "kommunisten" (it's a slur originating in German, the "-ie" suffix is typical of German slang), and "sozi" is for "sozialdemokraten". Thing is, although "Nazi" may be pronounced like "Natsi" in German, it's not spelled like that at all, whereas "sozi" actually does derive form "sozialdemokraten". "Nazi" is actually the Italian shortening of the name, where it's literally "nazionale". Since Italian is phonetic, it would've been pronounced phonetically with the "z" unlike the typical Germanic "natsi", which is actually similar to how it's pronounced in modern Hebrew (or in awful Israeli-accents trying to speak English). See this video of Israeli peasants harassing some goyim by referring to them as "nazis". https://www.youtube.com/watch?v=DvnrBU4vaGY
Thus I've contemplated that a potential alternative (or side-meaning) for "Ashkenazi" could be the Hebrew word "Nasi", essentially a word for a jewish prince of the sanhedrin, and is still used today as the word for "president" (thus Trump is a "nasi", as are the presidents of Israel). https://en.wikipedia.org/wiki/Nasi_(Hebrew_title)>Nasi (נָשִׂיא) is a Hebrew title meaning "prince" in Biblical Hebrew, "Prince [of the Sanhedrin]" in Mishnaic Hebrew, or "president" in Modern Hebrew.
By the way, note the admission of jewish hegemony in Septimania:>The nasi were also prevalent during the 8th-century Frankish kingdom. They were a highly privileged group in Carolingian France. The Jews have collaborated with King Pepin to end Muslim rule over their city in 759. The Jews accepted surrender and Pepin was able to hold off the Saracens in Spain. Pepin rewarded the Jews with land and privileges such as the right to judicial and religious autonomy under rule of their own leadership. The heirs of the King and nasi held a close relationship until the tenth century
It's also pronounced phonetically, similar to how Israeli peasants (who typically have an awful grasp of English) pronounce "Nazi" phonetically, here's an example (this video is about the aforementioned jewish kingdom of Septimania): https://www.youtube.com/watch?v=PDEyglrILAo
Note the pronunciation of "Nasi", now compare the pronunciation of it to the "nazi" used by those fanatical Israeli peasants. It's probably an Italianised version of the Hebrew "nasi" (which could make sense, seeing as the NSDAP was largely influenced by Italian fascists) that was then translated into German and English.