August Monthly Report
DAEX (Digital Assets Exchange) is a distributed digital asset clearing ecosystem built using a blockchain-based multi-asset clearing and settlement protocol. By decoupling assets and transactions, the system will provide exchanges, corporations and individuals with a full range of clearing and wallet solutions which address key issues in the digital asset ecosystem, such as credibility, availability and the security of their digital assets. In this way, the ecosystem will protect the interests of investors while promoting the fair and stable development of the industry as a whole. Key DAEX partners include Qtum Foundation, 8 Decimal Capital, DFJ Dragon Fund, IDEL, J One Capital, JRR and various other prominent investment organizations.
This August monthly report will include information regarding the the 1 million DAX bounty campaigns, the DAEX public sale, progress on the DAEX Wallet development, DAX token exchange listing, Hong Kong and Korean Meetups we hosted, strategic partnerships/investments and more.
Part 1: DAEX Products and R&D Progress
DAEX Wallet Progress
- Completed secure computing environment design for the digital asset ecosystem, including both enterprise and personal editions.
- Arranged the signature algorithm of the mainstream assets, completed the chip selection and partial function simulation of the hardware wallet, including elliptic curve signature, key segmentation, and key fragment encryption and export.
- Optimized the API components of the enterprise wallet and upgraded the asymmetric encryption mechanism that is adapted to the main network of the Clearing Chain.
- Designed a quantitative standard for the liquidation value factor and made the node incentive mechanism to conform to the Walrasian equilibrium.
- Completed the node upgrade and maintenance work of ERC20, NEO, NAS, DASH, QTUM, XWC, ELA, DCT and other wallets;
- Started DAEX Wallet upgrade work based on the public beta feedback, including UI revision and function iteration, join multi-level audit, asset distribution, asset management statistics, security reports and other functions.
As a smart distributed management solution for multiple digital assets, the DAEX Wallet is a vital component of the DAEX ecosystem. DAX is already listed on seven exchanges, with DAX tokens set to be a key component when it comes to reducing transfer fees on these exchanges in the future. At the same time, we are giving 1,000 exchanges and corporations an opportunity to test the wallet in a trial run. Exchanges and corporations can login on the DAEX Wallet website and apply to test the product.
Part 2: DAX Token
Up to now, DAX has been listed on seven exchanges:
LBank: https://www.lbank.info
Allcoin: https://www.allcoin.ca
BCEX: https://www.bcex.ca
INDODAX: https://indodax.com
SEADAX: https://www.seadex.io
Tokenomy: https://www.tokenomy.com
XBrick: https://xbrick.io/
As of 6:00PM (GMT+8), August 31, 2018, the number of addresses holding DAX tokens reached 3184. The total supply of DAX tokens is 2 billion, with 1.39 billion of them distributed for the main net. The current circulating supply of DAX is 370.3 million.
Part 3: DAEX News & Events
On August 1, we officially entered the Australian market by investing in the Australian exchange XBrick, deploying the DAEX Wallet and listing DAX on their exchange. The DAEX Fund also became a sponsoring institution for XBrick that will recommend suitable projects to be listed on their exchange. XBrick will also run an official clearing node for the clearing chain when it is launched next year.
Shortly after, we also formed a partnership with Tokenomy, an exchange based in Singapore. Tokenomy officially became the first clearing node for DAEX in Singapore and listed DAX on their exchange. They will also deploy the DAEX Wallet and receive support from the DAEX Fund in listing recommended projects on their platform.
Tokenomy was started by the founding members from INDODAX (formerly known as Bitcoin Indonesia), one of the largest bitcoin and blockchain startups in South East Asia with more than 1.3 million registered users.
We also made a strategic investment in blockchain service provider HyperQuart located in Russia. Russia also has a core node for the DAEX clearing chain after Indonesia, Thailand, Australia and Singapore. This will help DAEX expand its market presence in the global region and expand DAEX’s global ecosystem layout.
Another strategic investment took place in IAME, a decentralised identification framework.
We signed a co-operation agreement with blockchain services provider Sophon Capital Community to optimize services given to their investors. Through extensive co-operative efforts, we will work to create a more complete and professional blockchain services system.
A strategic investment was made in blockchain security group BUGX.IO, further diversifying the company’s global network of partners in the blockchain industry. We will team up with BUGX.IO to build their global security ecosystem. Through this partnership, BUGX.IO will bring its world-class blockchain security expertise to the DAEX project, ensuring a safer environment for all participants in the network.
Events
On August 15, the “Global Investors And Tech Developers In Blockchain” meetup took place in Hong Kong. We invited Hong Kong University Professor S.M. Yiu, LBANK, IAME, BugX, HyperQuant and other outstanding domestic and foreign well-known scholars and blockchain projects to attend the event. More information including the event schedule can be seen at https://medium.com/daex/daex-hosts-blockchain-event-in-hong-kong-ebfd3cffaece.
On August 30, we hosted an event in Seoul, South Korea, where we invited three different projects including PAYRAIZ, HORIZEN and LINEAGE CODE. Lois Shen, the COO of DAEX and founder of the Tencent blockchain community, presented the DAEX project to several Korean based investors in the audience.
Part 4: Community and Marketing
Chinese Community:
1 Million DAX Bounty Campaign in China
On August 1, we launched a 1 million DAX bounty campaign in China, which encouraged participants to create articles, videos and pictures about DAEX. The bounty ended on August 31, and we received 232 submissions (with 160 be classed as qualified work). From these submissions, we handpicked the best and rewarded participants with DAX tokens.
English Community:
1 Million DAX Bounty Campaign
On August 9, we launched the first round of our 1 million DAX bounty campaign on Bounty0x (a platform used for hosting cryptocurrency related bounty campaigns). 400k DAX tokens were allocated from this round, and the tokens should be distributed next week. If you have any questions regarding your submissions into bounty0x, feel free to join our telegram and speak to an admin.
On August 26, we launched the second round of the bounty on bitcointalk: https://bitcointalk.org/index.php?topic=4958619.0. This round is still active, and 600k DAX tokens will be distributed to participants who successfully take part in the tasks.
Russian, Korean & Indonesian Communities:
Telegram Russian Group: https://t.me/DAEXOfficial_ru DAEX
Telegram Indonesian Group: https://t.me/DAEXOfficial_id DAEX
Korean Community Kakao talk: https://open.kakao.com/o/gWJcHBQ
We started our Russian, Indonesian and Korean communities during August after entering these markets and receiving interest. These communities will continue to grow as we expand our ecosystem, and we will be creating new communities for other countries in the near future.
Public Sale
On August 8, we opened the KYC registration for our public sale. The KYC form is still active, and will close on September 8 at 1PM GMT (one day before the sale starts). Users must pass the KYC procedure in order to take part in the sale on September 9. The DAX price for the sale is $0.07, and the ETH ratio will be announced as soon as the KYC closes. See below for the full details:
Media
DAEX was featured across two major cryptocurrency related news media sites, see the below links:
Blockonomi — https://blockonomi.com/daex-blockchain/
Invest In Blockhain — https://www.investinblockchain.com/daex-project-review/
Russian, Korean & Indonesian Communities:
Telegram Russian Group: https://t.me/DAEXOfficial_ru DAEX
Telegram Indonesian Group: https://t.me/DAEXOfficial_id DAEX
Korean Community Kakao talk: https://open.kakao.com/o/gWJcHBQ
We started our Russian, Indonesian and Korean communities during August after entering these markets and receiving interest. These communities will continue to grow as we expand our ecosystem, and we will be creating new communities for other countries in the near future.
Part 5: Upcoming News
DAEX Products and R&D Progress
The DAEX Wallet will be officially launched in September for exchanges we are in cooperation with, and will help them build a new trading and clearing ecosystem. We will announce more news regarding the DAEX Wallet and new exchanges/institutions we plan to cooperate with.
Events
On September 14, Benjamin Gu, the DAEX Foundation Chairman, will attend the “2018 Global Hot Chain” event held in Jeju Island, South Korea. Benjamin will be a guest to introduce the DAEX clearing ecosystem to Korean blockchain enthusiasts at the event.
In addition, we will be organizing more global events, so stay tuned!
