1/ WHAT IS DAEX ???
DAEX (Digital Assets Exchanges) is an open and distributed cryptocurrency clearing ecosystem. DAEX aims to provide clearing solutions for centralized cryptocurrency exchanges, based on distributed ledger technology and smart contracts. The project is developed and managed by the DAEX Foundation which is registered in Switzerland. Since its foundation, DAEX has established significant partnerships with institutes such as US Temple University, Qtum Foundation, Jenga Blockchain Capital, Sora Ventures, 8 Decimal Capital, 360 and etc. Moreover, they are currently in discussions with several exchanges including Lbank.info, Bitfinex, Bitstamp, Huobi, and Bittrex.
2/ DAEX Ecosystem
DAEX provides an infrastructure for the cryptocurrency trading industry that integrates the benefits of both, centralized and distributed exchanges: strong liquidity, high-security level, transparency and relatively trustless environment. DAEX suggests seperating the clearing and the trading services into different entities. Currently, centralized exchanges will continue to provide trading services, but the clearing and the settlement services will be based on the DAEX solution. The solution is an open source public blockchain which guarantees that the trader’s assets are kept in their own account. Thus, DAEX users can enjoy the benefits provided by centralized exchanges without being exposed to risks arising from the use of such a centralized model.
Value
DAEX ecosystem aims to provide value in four layers:
Security: DAEX provides a secure trading infrastructure, where the user assets are all held on the public blockchain and cannot be moved without their permission.
Resource allocation: since each exchange has to do its own clearing work, the whole trading industry is not making good use of its resources. By using the clearing service, industry resources are used more effectively.
Trust: all operation and assets are transparent on the DAEX blockchain. The transparency provides more certainty and decreases the distrust between the users and the exchanges.
Exchanges: the separation of trading and clearing helps exchanges to focus more on their core competencies. Moreover, DAEX help to reduce the operational costs by selecting and listing new cryptocurrencies so that participating exchanges can trade.
3/ The DAEX Token (DAX):
The DAEX tokens are to be distributed in exchange for private and community donations. There is no public sale. During the initial offering phase, the DAEX token will be an ERC20 compatible token. When the DAEX solution is in production, those original ERC20 tokens will be repurchased and destroyed, and new native tokens will be issued with a 1 to 1 ratio.
Token usage:
DAEX tokens will be used to pay the clearing and the settlement fees in the DAEX ecosystem. Those fees can be paid solely using the DAEX tokens. Such a token economy ensures that DAEX tokens will play a central role in the clearing chain, as the driver of the ecosystem.
Token sale:
Total hard cap: ~25K ETH
Status of Sale: Cap is almost reached via the private sale, institutions invested: Qtum foundation, Sora ventures, and 360 Capital.
Token allocation (Finite number of 2 Billion DAX): DAEX foundation is yet to publicize a specific allocation plan, however, according to the team members, only 10% will be held by the team.
Use of the fund: the fund received from private and community donations will be used for the following fields: 45% R&D, 20% community building, 10% branding and P&R, 1% financial affairs and 24% will be allocated to alliances (mainly exchanges). The usage of the fund can be traced and will be periodically publicized to the community through social media.
Road Map
The project will be announced to the public by the end of March. The DAEX wallet and the clearing chain are expected to be launched at the end of June, and The Test Net is expected to be up by the end of December.
Q2 2018: publish DAEX technical whitepaper.
Q4 2018: Beta release and start testing.
Q2 2019: 1.0 release and start in production.
Q4 2019: 2.0 release.
WEBSITE :https://daex.io/
WHITE PAPER : https://daex.io/whitepaper.html
TELEGRAM : https://t.me/DAEXOfficial_en
TWITTER : https://twitter.com/daexblockchain
Bounty0x : ducpham
Bitcointalk Usename :Ironman5689
Bitcointalk link : https://bitcointalk.org/index.php?action=profile;u=2008052
ETH :0xD8fB18bb26cD0544Feb73A5263619a963adf1f0B
