DAEX : A TRANSPARENT SOLUTION FOR CRYPTOCURRENCY EXCHANGE

elmichaels (1)(1)in #blockchain • 7 years ago

Introduction

DAEX is a clearing solution for centralized cryptocurrency trading exchanges . Its clearing administration depends on distributed ledger innovation. Clearing and settlement rules are pre-programmed into clearing brilliant contracts on the DAEX clearing chain. The clearing procedure is programmed without individuals' s interference.The quick improvement of cryptocurrencies trading requires a more compelling and secure clearing administration. After a series of hacker thefts and security episodes, numerous trades need to go to the consensus that a typical clearing and resource caretaking benefit is required to protect the market and to guarantee the growth of the market. DAEX is in this way to provide better infrastructure to this market.

The objective of DAEX is to give a superior framework to the cryptocurrency trading industry by taking the sensible parts of the standard securities exchanging industry and by accepting focal points of new opportunities realized by the distributed ledger technology. In particular, trading and clearing will be separated into different entities. Current centralized exchanges brought together trades will keep on providing trading services . However,the clearing work will be dealt with a typical clearing administration which is based on the DAEX solution.

The DAEX ecosystem gives the favorable circumstances to members in the system:
Open
Most importantly, the DAEX ecosystem is available to welcome new trades. Trades that take an interest in the DAEX environment can utilize all items and administrations given by DAEX, including wallets and clearing. Also, taking an interest trades can hope to utilize more esteem added administrations DAEX will give, including cryptocurrency derivatives trading.

Secure
Participating exchanges must meet the business and innovation necessities of the ecosystem, hence the nature of trading services is kept up. Client's advantages are altogether hung on the blockchain. Resources can't be moved without client's confirmation. Numerous part private key further secure client's benefits and furthermore a sheltered recuperation component on the off chance that a client loses his private key. Brilliant contract and the blockchain innovation ensures the correctness of clearing and settlement.

Trust
Decoupling amongst exchanging and clearing is the most ideal approach to ensure the safety of client trading resources. The insurance fund contributed by taking an interest trades gives another layer of safety . The DAEX ecosystem in this manner gives a dependable domain to trades and brokers.

INCENTIVES FOR DAEX USERS

Reward for Witnessing clearing
Wallet clients can appoint bookkeeping scores to DAEX open hubs in order to get remunerate for seeing clearing. There are two preconditions for winning this reward:

Holding DAEX and with a clearing energy greater than zero.
Link wallet to an open hub in order to make bookkeeping contributions

Reward for client cooperation
The investment of clients is the establishment of this ecosystem and is additionally the distribution of its value. User participation will be remunerated in the following ways;

Opening an account and invitation to open an account: Opening an account or invitation to open an account will be compensated with DAEX tokens. The aggregate opening accounts award will step by step diminish after DAEX is online. The total invitation award will diminish with expanding number of invited individuals.
Effective clearing and settlement: Clients will be remunerated with DAEX tokens when they utilize clearing and settlement benefits through trading or delivery

DAEX TOKEN DETAILS

The DAX token is an ERC-20 standard token based on the Ethereum blockchain. The DAX token will serve a fuel that will power the Daex platform and will be used to reward participants that contributed to the development of the DAEX platform in so many ways possible. DAX will be shared among the public, the advisers, the founders and exchange partners in different percentages as shown in the image below;

DAX Token is currently listed on one of the top exchanges and the crypto community can easily trade DAX tokens alongside USDT as pairs. Tokenomy is the popular exchange that listed DAX token