The aim of DAEX is to provide a prevalent framework for the computerized currency exchange industry by taking a reasonable part of the standard securities exchange industry and by accepting the focal point of the new open door achieved by the disseminated innovation record. Specifically, exchanges and cleaning will be isolated into various elements. The current joint trade will continue to provide exchange administration. In what cases quip, clearing work will be handled to the clearing administration that depends on the DAEX arrangement. However, it is not exactly the same as the clearing administration that is united at the moment, the administration of the DAEX clearing depends on the innovation of dispersed records. Distributed recording innovations ensure that exchanges are accurately and safely cleaned and resolved. By utilizing the recording innovations delivered, the benefits of merchants are stored in their own records on the blockchain. No other person can get intermediary benefits without their authorization. This is enough to overcome the danger of brokerage profits in the combined trade today.The clearing solutions offered by DAEX for centralized crypto digital exchanges are based on distributed ledger technology. Rules for both settlements and cleaning are pre-programmed in clearing clever contracts found in the clearing chain. Fully automatic cleaning expositions without human intervention. To better guarantee objectivity during cleaning, DAEX uses a well thought out consensus mechanism in its clearing chain. For additional transparency, computerized assets stored by customers in DAEX are registered and then stored in the DAEX clearing chain. It is not possible for individuals or other institutions to access assets without permission from the asset owner.
DAX Token
DAX tokens are used by the DAEX ecosystem to facilitate collaboration between various parts of the ecosystem. Like other projects, DAEX issued DAX as a fundraising mechanism as well. During the sale of the initial token, DAEX will receive contributions in BTC, ETH, NEO, and QTUM. The DAEX Establishment will manage the cryptographic money received, and all exchanges involved will oversee the process. DAEX will have an addition repurchase program to a gradual lockout program, both of which will help prevent inflation. Also it should be noted that through the DAEX ecosystem, each asset owner can make computerized assets based on DAEX tokens, but they must meet legal requirements.
more info read DAEX PAPER
https://www.daex.io/pdf/DAEX(EN)-NonTechnicalWhitepaper-V0.9.8c.pdf
https://www.daex.io/pdf/DAEX(EN)-TechnicalWhitepaper-V0.6.1.pdf
Strengths and weaknesses of the DAEX project
One of the strengths of a project is the exchange 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. DAEX ecosystem is very helpful in the formation of newly formed exchanges, or exchanges that are not yet standard 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 exchanges to get new customers, which should help generate higher liquidity on their stage.
The DAEX project is that they are not developing or large enough to work with bigger or more mature ones.Giants like Binance, Bittrex, Coinbase, etc. Will become part of the ecosystem, which is drastic in its operational and infrastructure expositions.Another disadvantage is that they are based in China, and China has recently banned money trading and the exchange of digital money entities. The regulations of the Chinese government and the DAEX project are from working with local credit and partners that can be easily accessed for them.
site https://www.daex.io/