DAEX, AN OPEN SOURCE CLEARING AND SETTLEMENT SYSTEM
A number of new investors are getting attracted towards the crypto assets. They all want to invest in some popular and new crypto assets. They mainly rely on two types of exchanges, centralized and decentralized exchanges. The centralized exchanges are popular for offering high liquidity along with a centralized order matching mechanism for the traders. One major issue traders experience with centralized exchanges is the lack of control over their own funds.
The decentralized exchanges on the other hand provide peer to peer trading solutions. There is no middleman involved while you trade and you get a complete control over your crypto coins. You can feel secured when it comes to the safety of your funds, but decentralized exchanges fail to provide high liquidity as centralized exchanges. The DAEX platform is providing a hybrid exchange with features of both centralized and decentralized exchanges. It is an open source and decentralized clearing and settlement system that aim to resolve many major problems associated with crypto trading.
How does DAEX clearing and settlement system work?
The DAEX Foundation has created this platform to provide the traders with assorted benefits of centralized and decentralized crypto exchanges. In order to achieve this target the developers have ended up by developing a platform that features fast transactions, better security, high liquidity, and a working solution for all the major issues affecting the crypto industry for a long time.
The DAEX platform is different than other hybrid exchanges because it features the clearing and settlement system and trading services as different entities. So, the centralized cryptocurrency exchanges using the DAEX protocol can work smoothly to offer more profitable crypto trading solutions to their users. DAEX’s open source blockchain promises that your assets will be secure in your accounts and unauthorized parties can never touch or control your assets.
All in all, the DAEX ecosystem will benefit each of its users by offering features of centralized exchanges that include easy and fast trading. In addition, the users will experience unbeatable security offered by decentralized exchanges. Every user will have a complete access and control of the funds that centralized exchanges do not offer. In order to achieve the key goals and provide what it claims in the whitepaper, DAEX is using technologies such as the Clearing Account, the Clearing Chain, and DAEX Wallet.
The DAEX tokens:
This platform is featuring its own cryptocurrency to reward users. The DAEX token is general utility token that will be used to incentivize users that participate in the clearing process. This platform has made exchange nodes, public nodes, and super nodes eligible for participating in clearing process. So, every participant node will receive ERC-20 DAEX tokens whenever they will complete reward winning tasks within the DAEX ecosystem.
Conclusion:
The DAEX platform is quite similar to other hybrid exchanges, but it is featuring additional features that other hybrid exchanges are not offering. This clearing and settlement system will reward participants on participating in clearing services and therefore it can gain numerous new users.