The DX Network — project update (October 2, 2018)
The DX Network is the world’s first business data marketplace. It combines Blockchain and the Semantic Web stack to enable secure, open and efficient data exchange between organizations—turning data into a tradable asset.
Summary
We’ve covered a lot of ground in the last months (here are the project updates for June, July and August in case you missed them) and we’re glad to say we’ve reached all key milestones to open the DX Network’s private sale.
👉 Applications for the DX Network’s community token sale are now closed. Apply here for the private sale.
Product Development
The DX Network alpha is feature complete 🎉 The DX Semantic API and Tech Industry API are live and queryable for data from Startup Tracker, one of the first major data contributors on the network. We are now finishing the first library to communicate with the network (in Python) before releasing it for wider use—you can sign up for early access by contacting us here.
Team
Rene Lauk, the CEO of Oblicity (the legal firm we have chosen to work with for the DX token sale) has now officially joined us as a legal advisor. Rene has first-hand experience working on 20+ token sales and also sits on the blockchain council of the Estonian government so we are in very good hands.
Token Sale
We have updated the landing page with the DX Network’s token sale economics:
100,000,000 DX Tokens (DXN) will be issued and 50% are being put up for sale at a base price of $0.20 each. The maximum raise amount (hard cap) is set to $7,800,000 and the sale will be conducted in three phases: private, pre-sale and public sale with decreasing discounts at each stage.
To guarantee a fair, compliant and transparent sale for all token buyers, we’ve also signed a partnership with Civic for the sale’s KYC/AML procedures.
Beyond securing the funds needed to develop the world’s first blockchain-based business data marketplace infrastructure, one of the most important goals of the DX Network’s private sale is to create a tight community of long-term supporters to share its success with. This is why we’ve decided to give our existing community (you!) the right of first purchase for the private sale and thus highest discount on DX Tokens by kicking things off with a community sale.
Community sale details
At the time of writing, there are 1,800+ token sale registrants with a disclosed desired purchase amount well over 30,000 ETH. The target for the community sale is 5,000 ETH so to keep things fair we have decided to use a queue system based on registration type and date. We’ve started letting in early community members registered for the private sale two weeks ago and are in the process of opening up the sale to the entire DX community.
If you have not received an invitation yet, keep your eyes out for an email titled ‘Important: Your Invitation for The Community Sale is Inside this Email’. You can also contact us on Telegram to check your invitation status.
Traction
We’re proud to say the DX Network was selected by Y Combinator out of 15,000 applicants to join the full advisor track of Startup School 2018! This means our team joined a network of 2,800 founders with direct access to advisors from Y Combinator to support us through the initial launch of DX.
We also published The DX Network’s first data buyer and seller case studies featuring four companies from the DX Network’s pilot group: Equidam, BLOCKDATA, Forward Fooding and Symbid. The post also highlights the key attributes of the network’s underlying technology and impact potential, it’s worth a read if you’re looking for a compact summary of the DX Network 👇
We’re excited to bring this much-needed technology into the world with you, thanks for being an early supporter and a warm welcome if you’ve just joined!
👉 Applications for the DX Network’s community token sale are now closed. Apply here for the private sale.
If you have any questions, come chat with us on Telegram and be sure not to miss our next update by clicking on the Follow button below 👇
