[ANN][ICO] DAEX - The Most Reliable Clearing Ecosystem For Digital Assets

The public sale will start at 1PM GMT, September 9, 2018. Investors must pass the KYC application to participate in the sale.

Public Sale Information

The public sale price is $0.07 per DAX.
We will only accept ETH investments for this sale, and the DAX[/ETH ratio will be announced 24 hours before the sale starts based on the price above.
Your KYC application must be approved before you can invest and there is no whitelist.
Soft cap = 7,000ETH Hard cap = 10,000 ETH
Individual contribution amount is between 2-100 ETH per person.
Start Date: 1PM GMT, September 9, 2018
End Date: 1PM GMT, September 14, 2018
Visit Daex Website
Complete KYC process
Please join our telegram group if you have any questions: https://t.me/DAEXOfficial_en

What is DAEX?

DAEX is a clearing solution for centralized cryptocurrency trading exchanges. Its clearing service is based on distributed ledger technology. Clearing and settlement rules are preprogrammed into clearing smart contracts on the DAEX clearing chain. The clearing process is automatic without people’ s interference. The objectivity of clearing is guaranteed by the consensus mechanism on the clearing chain. Also, customers’ digital assets are registered and stored on the DAEX’ s clearing chain. No other institutions or individuals can access these assets without the owner’s permission.

The Goal of DAEX

The goal of DAEX is 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. Specifically, trading and clearing will be separated into different entities. Current centralized exchanges will continue to provide trading service. But the clearing work will be handled over to a common clearing service which is based on the DAEX solution. But, 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, trader’s assets are kept in their own accounts on the blockchain. No one else can access traders’ assets without their permissions. This effectively
removes trader’s asset risks in current centralized exchanges.

The DAEX solution will be an open sourced clearing service based on a public
blockchain. Its code is open for public inspection and supervision.

The DAEX Ecosystem

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, 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. During future phases of DAEX, cryptocurrency derivatives will be serviced. That is, DAEX will provide clearing service for cryptocurrency derivatives traded on exchanges.

Comparison of Different Modes

The DAEX ecosystem is the best combination of centralized trading and distributed clearing. DAEX users can enjoy the best trading experience provided by centralized exchanges and also at the same time do not have to worry about the safety of their trading assets. DAEX also significantly lowers the technical and business entry barriers for aspiring exchanges, providing a solid foundation for their business growth.

The DAEX Clearing Solution

The clearing chain is the core of the DAEX clearing ecosystem. It is an open sourced cryptocurrency clearing solution based on distributed ledger technology. It provides clearing and settlement services to both individual and institution users. This chain is deployed on multiple nodes on a public cloud. It uses one kind of POS consensus mechanism to validate transactions.

A clearing smart contract that is based on the smart contract technology plays a pivotal role in this clearing service. All clearing and settlement business rules are preprogrammed into this clearing contract. This smart contract finishes the whole clearing and settlement cycle of a matched trade. After a matched trade is formed in a DAEX participating exchange, it is sent to the clearing chain. A clearing smart contract is then formed for this matched trade. This clearing smart contract will first validate the matched trade to make sure that it meets all the business requirements. After the validation, the smart contract goes through the consensus mechanism and then updates corresponding accounts on the ledger.

DAEX Token Usage

The DAEX ecosystem uses token DAX to facility the cooperation among different parts in the system. The DAEX Foundation issues DAX to raise fund for the development of the DAEX solution. During the initial offering phase, accepted cryptocurrencies include BTC, ETH,
QTUM, and NEO. We will issue corresponding ERC20 coins. Received cryptocurrencies will be managed by the DAEX Foundation, and supervised by exchanges collectively. We will also make a 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.

Meet the DAEX Team

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Bounty0x - Rewarding the Token Economy

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