Hello Everyone, Do you know how a long story about technological developments in the world? If seen until now, technology has experienced rapid development over time, and of course it has also helped human activities to be more efficient. Therefore, it is good for us to know the long history of technological developments in the world. For that reason, here I will introduce a project about DACX. For more details, let's consider the following review:
DACX, a London based fintech/blockchain start-up located in the famous Technology Accelerator known as LEVEL39. The DACX project was conceived during Q3 2018, with a vision to provide a next generation digital asset exchange which leverages machine learning and DLT to ensure a safe and compliant marketplace. Our goal is to provide a platform for both primary and secondary markets beyond traditional cryptocurrencies, by venturing out into the world of tokenized securities and commodities. Therefore, our product offerings cater solutions to the retail sector, professional and institutional grade clientele.
Since inception, DACX has come a long way, our MVP was launched in January 2019, whereby the team made the decision not to not seek external funding for the project at such a premature stage. This proved influential in driving :
- An independent environment allowing for clearer strategy and development
- Creativity & innovation to be accelerated and risked
- More attention towards our customers.
This allowed the organization to stay focused and remain relevant in respect of the changing regulatory landscape and investor appetites towards ICO’s. During this journey we have made progress not only on the product side but also within the blockchain community by forming affiliations and working relationships with established organizations in this space. On the regulation front, being a centralized exchange with goals of listing STO’s in the near future, it was in our interest to design compliance in the core of our architecture to mitigate current and future regulatory risks. Therefore, our platform integrates KYC, AMM, and AML to monitor real-time risks which mitigates suspicious market behaviors.
By pitching our cross-border testing proposal to the FCA lead consortium of regulators, formally known as GFIN (Global Financial Innovation Network). DACX was one of eight successful firms to have been shortlisted for the pilot. Our proposal entailed utilization of DLT and machine learning to facilitate cross-border transactions of multi-currency payments, assets and commodities via tokenization, smart contracts and escrows. This will be an ongoing journey where DACX intend to write the standard for quality and attainment within this sector, and as such from the 23rd September 2019 we shall open registrations for client on-boarding (see 3.11 for the Affiliate/Referral Program).
DACX Exchange
New technology enables a global business to reach new audiences around the globe to ensure a pathway for international clients now than ever before. Organization have been hampered with not ensuring multi-language support is part of the ongoing strategy, customers should always be at the core of your business objectives, and part of this is providing them with a seamless experience. A multilingual help desk, whether in-house or acquired through outsourcing companies is key as the product grows A trading matching engine is a software used to match buy orders, bids, and with sell orders, offers. It is the most crucial part of any exchanges as this is what allows users to trade with one another and the entire reason why they registered on the platform. Trading matching engines follow an algorithm that determines a set of rules they must abide by, how they work, how many orders they can handle across how many pairs and how long it takes. A multi-threaded process is more advantageous, but only a few crypto exchanges implemented it as it requires more work, experience, and time to build.
Therefore partnering with infrastructure provider Modulus Global, Modulus, a twenty-year old developer specializing in HPC and financial technology, and have provided advanced technology products and services to clients including The NASDAQ Stock Market, J.P. Morgan Chase, Bank of America, Credit Suisse, Barclays Capital, Goldman Sachs, Merrill Lynch, Fidelity, TD Ameritrade, Devon Energy, IBM, Microsoft, Yahoo!, Google, Cisco, Adobe, Ford Motor Company, SAS Institute, Rutgers University, University of Chicago, MIT, Oak Ridge National Laboratory, NASA, and thousands of other corporate, educational, governmental, and non-profit institutions, throughout 94 countries since 1997.
Their high-frequency trading solution, enables DACX to provide ten million transactions per second from the get go and scalable up to 8X if and when required. By comparison, Bitfinex can handle circa one million transactions per second, and Binance only a little more— circa 1.4 million. With latency as low as 40 nanoseconds, your portfolio can now rise and crash 1.5 billion times in a single minute. Even the NASDAQ, with 400 microsecond latency is 10 times slower. Unlike Nasdaq SMARTS, the Modulus solution tracks money laundering within crypto exchanges. Our system uses a deep learning neural network to identify hidden relationships within the exchange and even within blockchains.
Security
To ensure the safety of digital assets in our custody, we will be utilizing four types of crypto wallets:
- Hot Wallets : These are the wallets kept on our internal servers for frequent transfers. Only a fraction of funds will be kept available for frequent transfers. All Hot Wallets come in encrypted form and decryption keys are only applied by authorized personnel at predetermined intervals to approve outgoing transactions. This prevents any asset loss in case our internal servers are compromised.
- HSM Protected Semi-Cold Wallets : Those are offsite wallets held by companywide hardware wallet solution with governance, multisig and access limits enforced by a Hardware Security Machine. Multiple signatures from authorized personnel is needed to approve a single transaction and the access is limited to private network terminals.
- Hardware Wallet Integrations : A comment on Ledger hardware wallet integration nano, and X (with Image)
- Cold Wallets : These wallets are kept offline and transactions are signed on offline computers by senior management executives.
Assets
DACX Exchange will be listing USD Stable coin and BTC pairs for all high cap exchange coins and utility tokens. We will be phasing in the listings by taking the input from the members of the community. More coins will be added over time. We generally will only add exchange coins and utility tokens that have strong credibility, user base, and liquidity. For existing or upcoming projects that wish to be listed on DACX Foundry for primary offering or for secondary market trading on DACX Exchange, should reach out to benefit from our promotional listing terms and fees. DACX Exchange platform is scalable in terms of tech and practical application therefore by in by Q1 2020 we intend to have a phased roll out of STOs for primary issuance and secondary trading. Our roadmap is online for an Up-to-date progress indicator.
We will roll out the platform in roughly the following order:
- Spot trading of Exchange coins & Utility tokens
- Primary offering and secondary market trading of Security Tokens
- Margin trading of Crypto Currencies
- Margin trading of Fiat Currencies
- DEFI
GLOBAL REGULATOR COMPLIANT EXCHANGE PLATFORM
Digital Asset & Commodity Exchange leverages artificial intelligence and high performance computing technology, optimized towards providing an efficient, secure and compliant marketplace with product solutions for both institutional grade and retail clientele. Our emphasis is on fractionalization of all forms of assets and commodities via tokenization. To bring more opportunities for inclusion for all types of investors, which in turn adds further liquidity to these traditional markets.
DACX is bridging the divide between physical commodities and digital assets, promoting the re-utilization of finite resources to drive the global circular economy. By hosting advanced security features, DACX implements machine learning for real-time market surveillance to prevent suspicious activities and security threats & utilizes KYC/AML on-boarding for its clients.
DACX Trading Platform
FEATURES
Some of DACX’s key features are, but not limited to:
- 2FA
- Crypto to Fiat
- Banking Rails & Settlements
- Anti DDOS
- Hardware Wallet Support
- Foundry
- MultiSignature Wallets
- Universal Wallet-Remit Cross border payments
- Virtual Debit Card
- Security Token
Affiliate/Referral Program
DACX offers an Affiliate/Referral program to enhance brand awareness where different rewards are available based on different levels of verification and holding. Total Number of DACX Rewards are limited to a maximum of 5,000,000 Tokens. Rewards will be distributed at the end of the campaign based on completion period.
DACX Token (DACX)
We have issued our own utility token, called the DACX Token. A strict limit of 786,786,786 DACX has been created, never to be increased and total supply will be reduced through frequent token burns. DACX token will run natively on the Ethereum blockchain under ERC 20 token standards.
Universal Wallet
Universal Wallet is the core storage unit of DACX Remit. It makes use of DLT, traditional banking and custodians to store the following types of assets in one wallet: Fiat Money
- Crypto Currencies
- Utility Tokens
- Security Tokens (STO)
- Stable Coins
- Commodity Tokens
Allocation
IEO
After Pre-Registrations are done and before launch, the IEO will be launched on the DACX Exchange. As an incentive, first IEO of DACX Token will grant “No Base Listing Fee” ticket applicable to one future IEO or Token Listing, for buyers & holders of a certain amount of DACX Tokens. Minimum amount & hold duration to qualify for “Free Ticket” will be announced prior to IEO. Usage of this “Free Ticket” requires minimum DACX Token balance for the applicant’s account to not fall below minimum amount required, from the time of purchase till usage of the ticket.
DACX Roadmap
September 2019-Pre-Registration
October 2019-Pre-Launch IEO
Q4 2019-Exchange Launch
Q4 2019-Fiat Gateways
Q1 2020-Expand Operational Jurisdiction to EU & Asia
Q1 2020-Cross Border Payments
Q1 2020-STO Integration
Q1 2020-Virtual Debit Card
Q1 2020-Bridge Remit & Exchange
Q2 2020-Margin Trading
Q2 2020-DEFI - Lending
Q2 2020-Expand Operational Jurisdiction to NA
If you want to know more about the DACX project you can visit the link below, Enough for my writing this time which only discusses some important points of this project, for more information please visit the link below
Website: https://dacx.io/
Telegram: https://t.me/OfficialDacx
Twitter: https://twitter.com/dacx_io
Facebook : https://www.facebook.com/dacx.io
Instagram : https://www.instagram.com/dacx_io/
Medium : https://medium.com/@dacxinc
AUTHOR
Bitcointalk Username: samuraijin
Telegram Username: @Samuraijin80
ETH Wallet Address: 0x3f9bb3679f1B71F22d823992078244C87EF4D455
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