Hi all, in my previous article which you can read @ https://bit.ly/2MsIq8U, I gave details about how DAEX is going to solve the problems associated with centralized and decentralized exchange.
To solve the problems (discussed in previous article), DAEX came up with a hybrid exchange. This exchange integrates the benefits of both a centralized and decentralized exchange to provide a highly secured, open, strong liquidity and a transparent ecosystem which is the core values of the DAEX ecosystem.
The idea is separating the trading and clearing services into 2 separate entities. Now, the centralized exchange will continue to handle the trading services while the settlement and the clearing services will be based on the DAEX protocol (solution). This will be based on an open source public blockchain which allows traders to be in charge of their fund.
So as a DAEX user, you continue to enjoy the benefits (fast and easy trading) of a Centralized exchange and you don’t have to worry about the risk (hack and theft) attached to it. DAEX will get you covered in area of security and more.
Now I will be writing about the team, token and the roadmap.
Team
The DAEX project is overseen by a 5-member team and 10 advisors. This are the brains behind the project and it is led Benjamin Gu who serves as the chairman. Full details of the team below;
Benjamin Gu – Chairman
Benjamin has a lot of degrees. Holds an MA degree from the university of Notre Dame, and MBA from University of Texas in Austin and left University of Science and Technology of China with an MBA. He’s vast in management and professional experience both in US and Chinese financial service and enterprise software companies. For 5 years, he worked at Hua Tai United securities as an associate CIO and was responsible for building industry leading investment bank support systems. He worked directly on the development and operation on ENCORE (system used for option clearing in the US) at Options Clearing Corporation.
Hua Zhang – Co-founder
Hua is a successful entrepreneur in digital asset and blockchain since 2014 and has a lot of experience as she’s an investor with several exchange platforms and an initial member of IDEL (International Digital Economic League). She’s a consultant with multiple enterprises such as Dun & Branstreet, A.T Kearney and Euromonitor International. She owns a degree from Shanghai Jiao Tong University.
Jason Tang – Chief Architect
Tang focused on Fintech products design and application. He owns a Master’s degree (software engineering) from Zhejiang University. He has worked with several banks in the United States and China. At China Zheshang Bank, he worked as a product manager in its Fintech Application Research Center and was in charge of the first blockchain project which is the core system in domestic commercial banks. Till today, he owns two patents in blockchain technology.
Stone Zhou – Wallet Architecture Scientist
Zhou has over 10 years’ experience in internet project management and development experience. He’s a wallet architecture expert for digital assets.
Lois Shen – COO
Lois is an expert in marketing and business development. She’s worked with Fintech and SaaS enterprises and a former senior business development manager at Tencent and in 2014, she won the award of “Most Outstanding Employee”. At this time, she was able to form strategic partnership with TenPay, WeChat with other Fintech enterprises.
The advisory board is made up of;
- Justin Shi
- Jianhua Huang
- David Nealis
- Leo Shen
- Patrick
- Ling Tang
- Yang Lin
- Jason Fang
- Grant Tao
- Wilson Shi
Token
The initial token of the DAEX platform will be ERC 20 compatible and a swap at ratio 1:1 will be conducted when the DAEX blockchain is launched. The ticker is DAX token and will be used as reward mechanism and will be used to pay the clearing and for settlement in the DAEX ecosystem. This usage makes the DAX token a core in the ecosystem and this will help drive the value.
A token repurchase program will be conducted to avoid inflation and a phased lock-in program on some tokens issued during the ICO phase. This is aim to maintain a reasonable token amount in the market.
Ticker: DAX
Token type: ERC20
Total Tokens: 2,000,000,000
DAX token Usage
The token can be used in the following scenarios;
- Clearing fee
- Exchange trade matching fee
- Settlement fee
- Derivatives clearing fee
Roadmap
From the roadmap, the Beta release will come up latest by December, 2018. The highlights of the roadmap below.
Conclusion
That it on DAEX. You will agree with me that this is indeed a laudable project and having a solution for the problems we traders are currently experiencing in today’s cryptocurrency exchange will help to promote crypto adoption.
DAEX has already partnered with a lot of companies and other projects. Some of them are Star.io, BCEX, Bitstamp and other as show in the image below.
I’m so Bullish on this project.
To learn more about DAEX’s cryptocurrency clearing solution, visit online today at
Website: https://www.daex.io
Whitepaper: https://daex.io/whitepaper.html
️Twitter: https://twitter.com/DaexBlockchain
Telegram: https://t.me/DAEXOfficial_en
Reddit: https://www.reddit.com/r/DAEX_Blockchain/
Authors bounty0x username: Miracle24