Topic: [ANN] DAEX | A Cryptocurrency Clearing Ecosystem - page 25. (Read 13422 times)

What is Digital Assets Exchange (DAEX)?

DAEX is an open and decentralized clearing and settlement ecosystem for cryptocurrency exchanges.

The rapid development of cryptocurrency trading calls for a more effective and secure clearing service. After a
series of hacker thefts and security incidents, many exchanges have to come to the consensus that a common clearing
and asset custodian service is required to protect and guarantee the sustained growth of the market.
DAEX is therefore the answer to this market need.

DAEX is an open and decentralized clearing ecosystem for cryptocurrencies and a bridge that connects cryptocurrency
trading exchanges. It also serves as a reliable custodian of mutiple crypto assets. Clearing and settlement rules are
 preprogrammed into clearing smart contracts on the DAEX Clearing Chain (also referred to as "clearing chain"). The clearing process is automatic without
third party interference. The objectivity of clearing is guaranteed by the consensus mechanism on the clearing chain.
Customers’ digital assets are registered and stored on the clearing chain. No other institutions or
individuals can access these assets without the owner’ s permission.

Trading and clearing will be separated. Current centralized exchanges will continue to provide trading services.
The clearing work will be handled by a common clearing service based on the DAEX solution. Different from current
centralized clearing services, the DAEX clearing service is based on distributed ledger technology. The distributed
ledger technology guarantees that trades are correctly and safely cleared and settled. By using distributed ledger
technology, traders' assets are kept in their own accounts on the blockchain. No one else can access traders’ assets
without their permissions. This effectively removes the asset ownership risks that exist in current centralized exchanges. The DAEX
solution will be an open sourced clearing service based on a public blockchain. It's code is open for public inspection
and supervision.


DAEX ecosystem

The DAEX ecosystem is composed of a clearing service that is based on distributed ledger technology, centralized
exchanges and user wallets. Traders use their wallets to perform trades on exchanges.
After trades are matched at exchanges, they are sent to the clearing service provided by DAEX. The clearing-as-a-service (CaaS) is performed by
smart contracts and distributed ledger technology. DAEX will provide clearing services for cryptocurrencies and
cryptocurrency derivatives traded on exchanges.


Participants

The DAEX Foundation
The DAEX Foundation's mission is to develop the DAEX solution and promote its use among cryptocurrency exchanges
around the world. The Foundation also manages the fund contributed by global investors.

Wallet Users
Wallet users whose identity have been certified can use various functions such as trading and asset delivery.

Exchanges
Provide cryptocurrency and derivatives trading services for wallet users. Counsel member of the clearing union. Provide
a node on the clearing blockchain.

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In the Media
Morning Star - DAEX Releases its Innovative Blockchain White Paper, a New Clearing Ecosystem for Centralized Cryptocurrency Exchanges
http://news.morningstar.com/all/business-wire/BWIPREM20180320006114/daex-releases-its-innovative-blockchain-white-paper-a-new-clearing-ecosystem-for-centralized-cryptocurrency-exchanges.aspx

Yahoo Finance - DAEX Foundation Launches New-Generation Distributed Cryptocurrency Clearing Ecosystem to Protect Investors' Asset Security
https://finance.yahoo.com/news/daex-foundation-launches-generation-distributed-133000552.html

Innovation Dialog - Cryptocurrency Clearing Solution- DAEX Innovation Dialog https://www.youtube.com/watch?v=TnxMX1YFjLc

YouTube - Sponsored Interview: DAEX - Realize a New Model of Clearing & Settlement for Exchanges https://www.youtube.com/watch?v=oq6sn5zy3ag

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DAEX Token: DAX

The DAEX ecosystem uses token DAX to facilitate the cooperation among different parts of the system. DAX tokens can be used as a clearing fee, exchange trade matching fee, settlement fee and derivatives clearing fee. The DAEX Foundation issues DAX to raise fund for the development of the DAEX solution. The fundraising plan and the usage of DAX are stated below:

DAX Allocation Plan
The total cap of DAX: 2 Billion

Initial Distribution
Exchange Partners, Team & Advisors, Other Partners

Later Mainnet Distribution
Clearing Reward(CVF-POS Mining)

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Team

Benjamin Gu
Chief Strategy Officer
Mr. Benjamin Gu has a successful and extensive management and professional experience in Chinese and US financial
service firms and enterprise software companies. He used to work as an associated CIO at Hua Tai Lian He Securities
Corporation and held COO positions in several financial service companies. When he worked at the Options Clearing
Corporation, he worked directly on the development and operation of the US options trading market’ s clearing
system ENCORE. Mr. Gu has a MBA degree from the University of Texas at Austin, a MA degree from the University
of Notre Dame, master graduate from the University of Science and Technology of China, and BS degree from Shandong
University

Hana Zhang
Investment & PR
Ms. Hana Zhang is an investor of several exchange platforms, initial member of IDEL (International Digital Economic League).
Started to be an entrepreneur in blockchain and digital assets since 2014. Opinion leader in blockchain applications and
technology development in digital assets trading, “Best Female CIO” Award in 2016. Graduated from Shanghai Jiao Tong
 University. Use to work in A.T.Kearney, Dun&Bradstreet and Euromonitor International as strategic consultant. She’ s been
engaged in consulting work for fortune 500 enterprises in the field of finance, payment and engineering.

Jason Tang
Chief Architect
Mr. Jason Tang has been focusing on Fintech products design and application research for years. He used to work as a product
manager in China Zheshang Bank Fintech Application Research Center and took charge of the first blockchain project which
applied to the core system in domestic commercial banks, and the first enterprise account receivables platform based on
the blockchain technology. He has two patents of blockchain. Mr. Tang has a master degree in software engineering from
Zhejiang University.

Stone Zhou
Wallet Architect
Mr. Stone Zhou has more than 10 years of internet project management and development experience. He is also a full stack
developer and proficient in all kinds of database cluster building and all mainstream blockchain and digital assets wallet architecture.

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Advisors

Justin Shi
Dr. Justin Shi is a professor of Temple University and a member of the IETF (Internet Engineering Task Force). His main research
focus is on high concurrency processing. He is also an expert of exchange framework and performance improvement.

Jianhua Huang
Mr. Jianhua Huang has a Ph.D. degree of East China University of Science and Technology. He is now an Associate Professor
and master's tutor in his university. He has been engaged in scientific research and 30 years of teaching Hismain research
direction is computer network and information security. He has participated in or hosted more than 20 scientific research
projects, involving distributed parallel intelligence processing, information security, next-generation network technology
and big data quality, and issued more than 40 papers in various academic publications and international conferences.

David Nealis
David Nealis is the President of Ceres Ltd, with more than 20 years working experience focusing on global capital market,
including brokerage business on stock and future tradings, merger&acquisition consulting services. Mr.Nealis used to be
 the member of board of directions of Research&Development committee of ShenYang Huatie Corporation Group.
Mr Nealis graduated from DePaul University, holding a number of Microsoft Technical Certifications issued by Hawaii
university.

Leo Shen
Mr. Leo Shen is the Founder & CEO of Radarwin Technology, director of China Blockchain Application Research Center,
distinguished teacher of Suzhou Fintech Research Institute Tongji University. He is also an expert of asset digitization,
blockchain application research and quantitative risk management. He has an in-depth study for the application of blockchain
technology in the field of medical information. He worked as an investment manager in five major lines of real estate and
had three successful entrepreneurial experiences in the fields of information technology, medicine and international trade.
Mr. Shen has dual bachelor degrees in economics and computer science. He is also an MBA candidate of United States
FOX School of Business.

Patrick
Founder of Qtum. Patrick graduated from Draper University and Chinese Academy of Science. He has extensive experience
in the area of development and management of blockchain technology and he has been dedicated to driving blockchain
technology to mainstream at an early date. He was nominated for the 2017 Forbes China Top 30 Under 30 List.

Ling Tang
Graduate Select of Xi’ an Jiaotong University; Founder & CEO of Ziggurat Tech; President of Ink Labs Foundation;
Managing partner of Jenga Blockchain Capital; Initiator of Blockchain Technology and Law Innovation Research Lab of
Xi’ an Jiaotong University; Member of the advisory committee of APEC Future College; Senior member of Silk Road
Innovative Design Alliance.

Yang Lin
Regtech Foundation Ltd Chairman, the Founder of DRC. Ms Yang Lin has 20-year career experience in finance industry.
And she advocates innovative “Regtech” , and actively seeks solutions to apply Fintech in regulation, compliance and risk
management areas. Ms Yang Lin was previously a partner of EY in financial transformation and innovation. Before IBM， Ms Yang Lin
worked in IBM for 8 years and was the head of credit and risk solutions.

Will Jiang
Joined QiHoo 360 in 2014, currently acting as executive director of 360 Capital. Mr.Will Jiang has rich experience in the
industries of Internet Finance,Internet Health care, Automotive Aftermarkets, Big Data and Cloud Service.Before joining
360,Mr.Jiang had more than 10 years’ experience in venture capital、start-up and IT operating. Mr.Jiang used to be the
investor director of Zhejiang Accused The Jin Cheng Property Management, Associated General Manager of Stock
Division of TaiJI.

Wilson Shi
Mr. Wilson Shi has been designing Creative branding for 40,000 hours in last 16 years, involving real estate, finance,
medicine, technology and space design, and has provided excellent services to global clients. He entered the field of
blockchain in 2015 and completed representative brand works: FBG, BUGU, Fourier, Radarwin, DAEX, etc.

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DAEX Roadmap

2018 Q1: Publish DAEX whitepaper
2018 Q2: Publish DAEX technical whitepaper (A Distributed Digital Asset Clearing Ecosystem)
2018 Q3: Publish DAEX technical whitepaper (Clearing Value Factor (CVF) and wallet solution based on a trusted computing environment)
2018 Q4: Publish DAEX technical whitepaper (DAEX Fund report, token plan (clearing-as-mining), node deployment and governance model)
2018 Q4: Beta release (test net)
2019 Q2: 1.0 release and start in production (main net)
2019 Q4: 2.0 release

 


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