Decentralized Capital’s Next Product: A Compliant Decentralized Exchange
As an EtherEx co-founder, I spent over a year focused on making a decentralized exchange a reality. It was during this time that I stumbled upon the insight that led to Decentralized Capital; for a decentralized exchange to be viable, you must have a crypto asset that represents fiat currency. It didn’t take long to realize that this applied to most products on Ethereum, and eventually I left EtherEx to start DC.
Though I left behind that particular product, I never let go of the idea. In an ecosystem that aspires to digitize all assets from gold to music, a secure on-chain market for exchanging these assets is a must. A few options have popped up to serve this need, but none of them incorporate the level of compliance necessary for their markets to operate legally.
Now that DC Assets are live it’s time that we address another core need of the community. I’m happy to reveal our plans for the next product in the DC family: IDEX, a new approach to a decentralized exchange. IDEX will expand on existing decentralized exchanges by incorporating compliance and KYC/AML procedures, providing traders with a modern platform that operates within existing legal frameworks.
We believe that changing the current financial system doesn’t depend on operating outside of laws and regulations. This emphasis on compliance was a large factor in our decision to incorporate in the UK, as the government has shown themselves to be very forward thinking, providing regulatory guidance that allows for crypto companies such as DC to grow and flourish, even though we are tackling problems that have historically given regulators pause for concern. Additionally, the long established rule of law ensures that our customers are also protected by an experienced court system should the need arise.
IDEX & DVIP
As IDEX is an expansion of the DC product family, the memberships sold in our upcoming sale, DVIP, are also eligible for benefits on the trading platform (if you aren’t sure what DVIP is, read more here). Provided IDEX comes to market, DVIP holders will have unlimited free trades until the benefits end on January 1st 2020. DC Assets and the IDEX platform have natural synergies and will become the core of the DC ecosystem as we continue to expand and tackle all problems associated with representing and transferring assets on the Ethereum blockchain.
IDEX development is almost complete, and we are targeting launch six weeks from now. We’ll begin with an invite only beta, before opening it up to the wider community. If you’re interested in joining please send us an email at email@example.com with “IDEX Beta” in the subject line. More information to come closer launch, maybe even some more chances to win a free DVIP membership token!
(Join the discussion on r/Ethereum)