Hana Zhang; a co-founder of The Global DAEX Foundation, recently took part in a Q&A session within the Allcoin Exchange telegram group. Allcoin listed a token sale of the DAX token last month, so Hana wanted to engage with the community directly to share some insight on the DAEX project. There were a variety of questions asked to Hana regarding the DAEX clearing solution and DAX token, and below are some questions that were captured and translated from Mandarin Chinese.

“1. Community Member: How many exchanges will DAX tokens be listed on in the starting phase?

Hana Zhang: In the initial stage (April and May), DAX will launch on 2–4 global top 50 trading platforms. Within this year, DAX will launch on about ten trading platforms around the world.

2. Community Member: When are you planning to cooperate with exchanges?

Hana Zhang: Our collaboration with other exchanges will start with the release of some wallet products in July.

3. Community Member: The opening price of the DAX token was around 1RMB (approx. $0.16), would you consider that high?

Actually the initial price is underestimated, and DAX has been certified by some foreign investment banks and rating agencies. Considering that the exchanges are worth hundreds of millions or more, the market value of DAX serving for exchanges is not too high.

4. Community Member: How long has the project been in development?

The project has already been ongoing for 6 years. The mature counting structure of the exchange and wallet structure have accumulated for 2.5 years, and the experience in clearing securities transactions is 20 years.

5. Community Member: When will the DAEX wallet product be released?

We will have an enterprise-level wallet released in the middle of the year, and its function is more powerful than Imtoken.

6.Community Member: Is DAEX a distributed exchange or distributed a wallet?

We are not a distributed exchange, nor a distributed wallet. Instead, we use distributed wallets as a traffic portal in our ecosystem to eliminate the risk of over-centralization of centralized exchanges.

7. Community Member: Does DAEX plan to develop its own public chain?

DAEX itself will be a public chain of distributed multi asset clearing.

8. Community Member: Will DAX’s tokens be destroyed?

DAX tokens will not be destroyed, instead they will be used as a deposit, commission, etc., and will be locked and frozen.

9. Community Member: Can you tell us about your core team?

Our core team members’ background can be found on the official website www.daex.io with links to our LinkedIn profiles.

10. Community Member: What is the difference between the DAEX wallet and a conventional wallet?

We support more types of assets, including derivatives, coinage, docking exchange departments, and some private keys returning to users for controlling.

11. Community Member: If all the transaction data passes through you, will there be a risk of being considered centralization?

When more exchanges launch the DAEX solution, more wallet users will participate in clearing, and the risk of centralization will be lower.

12. Community Member: Isn’t the primary feature of blockchain about decentralization? I understand that DAEX plans to cooperate with centralized exchanges.

That’s because you misunderstand the goal. Exchanges are very centralized institutions, but DAEX is planning to establish decentralized clearing systems and cooperate with those centralized exchanges.

13. Community Member: Is DAX an ERC20 token?

Currently it is. At the end of the year, it will switch to our own main network.

14. Community Member: Could you tell us more about the project development cycle?

The research and development cycle of the project is 1–2 years, but products will be launched one after another within one year. We wish users could perceive DAEX in the product layer. If the public chain is good, but the wallet is not good enough, the project will not work.

15. Community Member: What are the conditions for applying for a super node in DAEX’s ecosystem?

It’s relevant to the trading volume, asset amount, rating level, holding time, along with several other indicators.”