Project Overview
What does the company/project do?
DAEX is a clearing solution for centralized cryptocurrency trading exchanges . Its clearing service is based on distributed ledger technology.
It is designed to solve the current issues facing both centralized and decentralized exchanges, issues such as poor liquidity and low order matching speed in decentralized exchange; opaqueness and insecurity of traders' assets on centralized exchange.
DAEX aims to provide a better infrastructure for the cryptocurrency trading industry by taking the reasonable parts of the mainstream securities trading industry and by taking advantages of new opportunities brought about by the distributed ledger technology.
DAEX will not involved in trading service, it is just a clearing blockchain service that can be used by centralized exchanges. The solution will be an open sourced clearing service based on a public blockchain. Its code will be open for public inspection and supervision.
DAEX ecosystem is made up of clearing service that is based on distributed ledger technology, centralized exchanges and user wallets. Traders will be able use their wallet for trading. After trades are matched at exchanges, exchanges send matched trades to the clearing service. The clearing service CaaS is performed by smart contracts on the distributed ledger technology. During the initial phase of DAEX, cryptocurrencies will be serviced.
Key features of DAEX ecosystem are:
DAEX Wallet- Supporting multiple assets for both enterprise and individual level customers.
DAEX Clearing Chain- A public clearing chain supports cross chain clearing for digital assets.
DAEX Fund- Supporting investments of cryptocurrency exchanges and wallets, cross chain solutions and asset management projects.
The key features are illustrated in the diagram below:
How advanced is the project?
DAEX is being developed by DAEX foundation which is fully registered in Singapore. The foundation is the one managing the fund that was contributed by investors.
The function of the organization include but not limited to the following:
- Information revelation
- Compliance and auditing
- Fund management
- Strategic decisions
- Arbitrage and reconciliation
- Public relationship
The future development roadmap for DAEX is as follows:
2018.Q1
DAEX Whitepaper was published
2018.Q2
Technical Whitepaper was published
2018.Q4
Beta release and start testing
2019.Q2
1.0 release and start in production
2019.Q4
2.0 release
What are the tokens used for and how can token value appreciate?
The DAEX ecosystem uses token DAX to facility the cooperation among different parts in the system. DAEX hasa comprehensive token repurchase program to avoid inflation and a phased lock in program on some assets issued during the initial offering phase. The goal of these programs is to maintain a reasonable amount of tokens in the market.
• DAEX public nodes
Public nodes deployed on the DAEX public chain. They provide the infrastructure to maintain the stable operation of the clearing chain, and also the virtual computing power for “everyone clears” of DAEX wallet users, lowering the resource cost of individual’s participation, and raising clearing efficiency at the same time.
• Exchange nodes
Nodes deployed at participating exchanges. It is one source of exchange’s income. The number of nodes deployed at one exchange is correlated with its clearing contribution, and an upper limit is specified.
• Super nodes
When the clearing power of individual DAEX wallet user reaches certain level, this individual can apply to become a super node. Different grade will be assigned to this node depending on the “the effective time DAEX holding”. Higher grade can obtain more reward income.
DAEX tokens should appreciate in value as more traders are using their clearing service, the buy back program will also make the token value to increase.
Team
The biographies of DAEX's key team members are summarized below:
Benjamin Gun, Foundation Chairman- Benjamin has extensive experience in Chinese and US financial service and enterprise software companies. He worked at Hua Tai United Securities for more than 5 years as associate CIO, where he was responsible for building industry-leading investment bank support systems.
Hana Zhang, Co-Founder- Hana Zhang is an investor of several exchange platforms and is an initial member of IDEL (International Digital Economic League). After being a successful entrepreneur in blockchain and digital assets since 2014, Hana is regarded as an opinion leader in blockchain applications and technology development for digital assets trading.
Jason Tang, Chief Architect- Master’s degree of Software Engineering, Zhejian University. Mr. Tang has been focusing on Fintech products design and application research for years, with landing products ranging from blockchain, machine learning, knowledge graph to Robo-Advisor. He used to work for the State Street Bank of the United States and served several central bank customers including MAS, BOK and HKMA.
Stone Zhou, Wallet Architect Scientist- Mr. Stone Zhou has more than 10 years of internet project management and development experience. He has a full stack development background and is a wallet architecture expert for digital assets.
Lois Shen, COO- Lois has several years of experience in business development and marketing roles for Fintech and SaaS enterprises. She is a former senior business development manager at Tencent, where she won the award of “Most Outstanding Employee” in 2014. In this role, she was responsible for forming strategic partnerships for WeChat Pay/TenPay with other Fintech enterprises. She has also helped several Fintech clients enter the App Store with a top 10 ranking.
Advisors supporting the DAEX project include Justin Shi , Professor of Temple University and amember of the IETF (Internet Engineering Task Force), Jianhua Huang ,a Ph.D. degree holder from East China University of Science and Technology, David Nealis, he is the President of Ceres Ltd, and Leo Shen, Founder & CEO of Radarwin Technology.
Useful Links
Project Website
Whitepaper
Telegram Open Chat
Blog
Reviewed by Adeyinka Joshua
Bounty0x Username: Adebits