SHANGHAI, June 14, 2018 /PRNewswire/ -- On June 9th, the DAEX FUND was officially established, becoming the world's leading distributed transaction clearing ecosystem support organization. More than 60 major investment organizations attended the momentous launch ceremony. They included DFJ Dragon Fund, Liaode Capital, J One Capital, PreAngel, Fundamental Labs, Qtum Foundation, Bitrise Capital, Ledger Capital, JRR, ChainPE, Top Fund, Height Fund, Viking Capital, Xinghe Capital, Genesis Capital, 8 Decimal Capital, Milestone, Gama Capital, Long Capital, InnoNext, Bottos Foundation, Seadex, RadarWin, Hello Capital, Dobe and BlockVC.
The DAEX FUND is leading the way when it comes to investing in Blockchain 3.0. The fund plans to focus on investments related to decentralized exchanges, wallets, cross-chain solutions and asset management while paving the way for greater industry compliance. The DAEX Foundation will come up with the first round of investment capital, totaling 100 million RMB in DAX and ETH, as it works together with other major investment organizations to build a trusted and secure digital asset clearing ecosystem. These investment partners include Liaode Capital, JRR, Qtum Foundation, J One Capital, ChainPE, 8 Decimal Capital, InnoNext, RadarWin, Halu Capital among others—all of whom have an abundance of experience when it comes to investing in blockchain exchanges and wallets.
At the launch ceremony, five top industry investors shared their unique insights on the DAEX project. The prestigious panel included the co-founder of DAEX, Hana Zhang, the co-founder of JRR, Hongda Fan, the founder of Liaode Capital Lihua Yi as well as Jie Yuan from Fundamental Labs and Chao Gao from J One capital. See below for some key insights during the discussion.
JRR Co-Founder Hongda Fan: When it comes to digital assets and trading, there are various responsible entities. In the traditional financial sector, the responsible entities have always been the banks. Banks in the future will be the same, but there should also be more third party organizations for custody and clearing. So, I think DAEX is more ahead of the curve than we think. It will help the entire industry to pass through this current low point. The second point is that the DAEX solution can guarantee the safety of our digital assets. Security is key when it comes to digital assets. I believe that if the current security issues surrounding digital assets are resolved, it will inevitably give more organizations confidence to enter this market.
Jie Yuan from Fundamental Labs: I will share two points. Firstly, both centralized and decentralized exchanges will still exist for a long time. Secondly, the transformation from centralization to decentralization needs to be slow and methodical if it is to be successful. To facilitate this process, the industry needs new technologies and a better ecosystem. I think DAEX is a good solution to this.
Just as these veteran investors predict, only when high-risk elements of digital asset trading are solved, including the separation of trading and clearing, will customers' assets be more secure. Using blockchain and distributed ledger technology for asset settlement while keeping trading centralized ensures greater efficiency and lower costs; which is good for both exchanges and customers. By combining advantages of both centralized and decentralized exchanges, it will also support industry compliance. This is the direction in which DAEX is heading.
DAEX is creating an underlying public chain specifically for currencies on digital asset exchanges.
In terms of technology, the DAEX chain has all the elements to become the best underlying public chain for cryptocurrencies. In its newly published technical white paper, DAEX revealed the layered structure of its clearing ecosystem including the DAEX clearing chain, the DAEX wallet and the DAEX identity chain. The whitepaper also defines DAEX's ASPOS consensus mechanism within asynchronous public networks.
The DAEX ecosystem is being developed from the ground up as a blockchain-based, multi-asset clearing solution for exchanges and investors, thus paving the way for safer and more efficient asset custody and clearing business models. The DAEX public chain will support an array of functions including asset custody and transaction clearing as well as the issuance of digital assets.
The DAEX FUND will focus on the relevant investment channels and opportunities, helping establish the ecosystem and its underlying distributed transaction and clearing services. As a result, all participants in the DAEX ecosystem will experience a more transparent and secure trading environment.
Staying up to date with news and information from DAEX:
- Website: www.daex.io
- Twitter: https://twitter.com/DaexBlockchain
- Telegram: https://t.me/DAEXOfficial_en
- Medium: https://medium.com/daex
- Reddit: www.reddit.com/r/DAEX_Blockchain/
SOURCE Global DAEX Foundation