Today, let us all learn and experience together all about DAEX . If you don’t know anything about them, don’t run away, that’s why I’m here, to change that within the next few minutes. Before I begin, I just want to quickly mention that I will be including LINKS so that YOU can do your own research or whatever you feel you need. I feel it’s best to have all of the information in one place, in an organised manner, rather than dotted about the page making what you want hard to find or confusing. All these links will be put at the BOTTOM of this page to keep things easy.
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.
DAEX Platform: Smart Wallet & Multisig Private Key
DAEX smart wallet can keep up an extensive variety of computerized resources and in the meantime keep up the ‘trust’ between the client, trade, and DAEX stage itself. Each client will have a solitary wallet that is associated with the clearing blockchain and trade over DAEX clearing stage. What’s more, this wallet will have the various private key highlights.
By using this smart wallet, DAEX client will have the capacity to exchange an extensive variety of benefits in the trade stage that is cooperating with DAEX. There will be no danger of hacking specifically to DAEX or trade in light of the fact that the assets are not controlled by DAEX or the trade, and each exchange or exchanging that happened will be accessible to people in general. Subsequently, clients can see whether there is an abnormality or not in their exchange.
Secure – Participating exchanges must meet the business and technology requirements of the ecosystem, thus the quality of trading service is maintained. User’s assets are all held on the blockchain. Assets cannot be moved without user’s admission. Multiple-part private key further protect user’s assets and also a safe recovery mechanism in case a user loses his private key. Smart contract and the blockchain technology guarantees the correctness of clearing and settlement.
Trust – The DAEX ecosystem therefore provides a safe and trustworthy environment for exchanges and traders.
Open – DAEX ecosystem is Open Source and thus welcome new exchanges. Participating exchanges use all products and services provided by DAEX, including wallets and clearing. Also, these exchanges can utilize the value added services provided by DAEX, such as crptocurrency derivatives trading.
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.
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.
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).
Bounty0x Username: funkyies
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