The demands for safer and more effective clearing services are increasing with the rapid development in the crypto trading. A number of security breaches and hacker thefts have affected the reputation of many popular cryptocurrency exchanges. Even the traders agree that a much improved and securer clearing and asset custodian service is needed to prevent security threats. The crypto market also seeks a clearing system that can assure a constant growth of the market.
While other decentralized exchanges are focusing on providing decentralized solutions based on the blockchain technology, the DAEX platform is launched to resolve all the issues affecting the growth of the market and safety of crypto funds.
Everything you want to know about the DAEX ecosystem:
The DAEX developers have created a clearing system that uses the blockchain technology to provide effective solutions. In addition, it offers you with the features of centralized exchanges and a crypto wallet to hold and secure your crypto assets. Just like the wallets offered by other crypto exchanges, the DAEX wallet allows you to trade on different exchanges without worrying about security threats. When you trade and all the trades are matched, your crypto exchange will then transfer the matched trades to DAEX’s clearing service. The blockchain technology and smart contracts play a vital role in clearing trades.
Initially this platform will offer clearing services only for the crypto assets. However, in the future this platform will also service cryptocurrency darivatives. It means, this platform will also offer clearing services for crypto derivatives which the traders will trade on different crypto exchanges.
Key features of the DAEX ecosystem:
The following are the noticeable features of the DAEX platform:
Security:
DAEX is designed especially to prevent security threats that have destroyed the reputation of many popular crypto exchanges. This platform will not allow any exchange to entertain its clients if it does not has the technology and business that meets the requirements of the DAEX ecosystem. This platform aims to offer high-quality trading experience and for that it will not take anything for granted. All the assets owned by the users will be secured on the blockchain.
Suppose you are using DAEX, nobody will be able to move your assets without your permission. DAEX is also featuring a safe recovery mechanism if you lose your private key in the future.
Open source platform:
The DAEX ecosystem welcomes new exchanges to use its products and services offered within the ecosystem. Every new exchange can join this ecosystem to access DAEX wallets and clearing services. As mentioned earlier, DAEX will provide crypto derivative trading solutions in the future. The joined exchanges can take advantage of this value added service in the future.
A trusted environment for trading:
DAEX will feature clearing and trading as two different services and therefore it is guaranteeing that there will be no security threats to your assets. New exchanges will provide insurance funds to add another layer of safety. That’s how this platform is going to protect both exchanges and traders against all sorts of security issues so that they can trade fearlessly to gain more profit.
