Nanda Crypto: DAEX Project Review: A Underestimated Project Aims to Reconstruct the Cryptocurrency Trade.

Even though we are in the bear market and there is a saturation of ICO projects that do not serve real needs, there are still hidden gems out there that can be considered as solid projects that have products and great teams.

DAEX (Digital Assets Exchange), which is a China-based project that implements clearing and settlement solutions for centralized exchanges, is one project that is worth seeing. A closer look at DAEX will show that the solution they develop has a real demand in the current cryptocurrency market (and future).

This article will outline a review of the DAEX project, and highlight the strengths and weaknesses of the project.

DAEX Project Overview:

DAEX creates a clearing and settlement ecosystem for centralized exchange. The ecosystem will include clearing chains, identity chains, settlement chains, and DAEX Wallets.

The centralization of exchanges that are part of the ecosystem will have all their trade cleared in the public chain, which will build a transparent and trustworthy trading infrastructure for their customers. Tokens (DAX) will be used to conduct trade clearing that occurs between users who are part of the ecosystem, similar to how exchange tokens are centralized, but in a distributed and transparent way.

DAEX Ecosystem Proposition:

The Clearing DAEX chain uses ASPoS (Accumulative Signature for Proof-of-Stake) as a consensus mechanism. APoS is an algorithm developed within the company that DAEX develops and bases on each principal node on deposit amount, activity level and Clearing Value Factor (CVF).

They claim that ASPoS ensures nodes are valued based on how they contribute to the ecosystem, and punish dangerous nodes by making them lose their savings. Exchange that joins the DAEX ecosystem will have all trades cleared in the DAEX Clearing Chain (clearing that occurs after the trade is matched, and currently part of this process is not transparent in centralized exchanges).

Another part of their proposition is to allow users to access their assets through DAEX Wallet. Basically, this provides access to any exchange in their ecosystem through a universal wallet. This not only transfers full control of assets from centralized exchanges (they currently store all of their customers' assets in a hot / cold wallet until the funds are withdrawn) to the merchant, but provides an efficient method for them

DAEX: Strengths and Opportunities:

One of the strengths of the project is the transfer of ownership of assets from exchanges to traders. It is common knowledge that centralized exchange has become a target for hacking groups, even since the beginning of the existence of bitcoin (Mt. Gox).

The DAEX solution will make the exchange distribute their collection of assets so that each of their customers has their own wallet (DAEX Wallet) which they access with a private key. With this infrastructure change, centralized exchange does not need to focus too much on protecting their hot / cold wallets as they do today, and traders will have their assets stored safely, without having to rely on exchanges to keep their assets safe.

The DAEX ecosystem is very helpful in the formation of newly formed exchanges, or exchanges that are not yet mainstream but want to develop. With centralized exchanges becoming increasingly popular, there are many challenges they face in a market that is so competitive.

One way the DAEX ecosystem can help them is to immediately bring them access to other traders who use DAEX Wallets. This will allow the exchange to get new customers, which should help generate higher liquidity on their platform.

DAEX has recently entered the Korean, Thai and Indonesian markets, with further plans to expand in Asia. Thailand recently implemented a new crypto regulatory framework, and SEC Thailand has received more than 20 applications for the exchange of new digital assets.

The Korean government also recognizes the exchange of crypto currencies as regulated financial institutions, and the country expects more exchanges to build in the near future. It is clear that DAEX has seen emerging markets that they can use and serve.

DAEX: Weaknesses and Threats:

One of the weaknesses of the DAEX project is that they are not well established or large enough to work with larger or more mature exchanges.

Giants like Binance, Bittrex, Coinbase, etc. Will tend to be part of the ecosystem, because it requires drastic changes in operational processes and infrastructure.

Another disadvantage is that they are projects based in China, and China has recently banned currency trading and cryptocurrency entity exchanges. These regulations from the Chinese government restrict the DAEX project from working with local exchanges and partners that can be easily accessed for them.

DAEX Community:

The DAEX community spreads in various languages and countries, including:

Korea (https://open.kakao.com/o/gWJcHBQ)

Indonesia (https://t.me/DAEXOfficial_id)

Russia (https://t.me/DAEXOfficial_ru)

China (https://t.me/daexofficialgroup)

They have 2 English language telegram groups (https://t.me/DAEXOfficial_en and https://t.me/daexofficialgroup_en) which have a combined 12,300+ users.

In China, they also have several WeChat groups where most of the community interact, perhaps because this platform is easier for Chinese-based users. Check the DAEX WeChat community, revealing that they have more than 10,000 users spread over more than 80+ groups.

Final Thought:

DAEX provides a viable solution for centralized exchanges on the market today.

Overall, this promotes a more efficient and trustworthy trading environment for exchanges and traders who are part of it. Exchange will be considered a more trustworthy entity after trade clearing and their accounting information is publicly displayed, and they will not risk hackers, because the collection of customer assets will not be stored in their own exchange wallet.

The team behind this project seemed to be able to give their proposal. Benjamin Gu has an impressive background in the traditional financial sector for clearing and completing option trading.

Jason Tang's experience and development achievements are truly noteworthy. He has received two patents and has been involved in bank related projects for blockchain technology.

With measurable solutions capable of serving a large and growing market, DAEX is in a good position to take advantage of new government regulations that continue to support crypto currency exchange, and create better infrastructure for trading crypto currencies.

At present, DAEX has launched a second round of their bounty campaign, where they reward a total of 1 million DAX tokens (Round 1 is 400k and Round 2 is 600k) in several tasks.

KYC for their public sales is now airing on www.daex.io and sales start at 1PM GMT, 9 September 2018. DAX prices for public sales are $ 0.07 with 7,000 ETH soft caps and 10,000 ETH hard caps.

Given DAEX's propositions and goals, the sale of their tokens can be a great opportunity to get involved with the project.

Public Sales Information

The public sale price is $ 0.07 per DAX.

We will only accept ETH investment 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 white list.

Soft cap = 7,000ETH Hard cap = 10,000 ETH

The number of individual contributions is between 2-100 ETH per person.

Start Date: 1PM GMT, 9 September 2018

End Date: 01:00 GMT, September 14 2018