DAREX’s Hybrid Model: First Community-Owned Exchange
The 3rd launch of the Darico ecosystem named DAREX is the first hybrid community-owned digital asset exchange. The new exchange aims to make digital assets trading and investment efficient, easy, and low-cost.
Darex is designed to provide a platform to trade utilities and securities. The revenue generated from these transactions is eventually shared with token holders. The exchange intends to develop in a “truly beneficial and democratic exchange platform for all.”
The startup exchange is keenly focussed on making sure that all individuals, institutions, professional traders and investors will gain benefit from the exchange functionalities, which include enabling them to trade, deposit and withdraw “a variety of top-ranked cryptocurrencies.”
The best crypto exchange seems the first of its kind in the crypto assets trading space, as it claims to be a “100 percent owned” by the Darico community. By the term Community-owned, it means that the Darico community who owns Darico Exchange Community Shares (DEC), will become shareholders in the exchange. Also, All the DEC token holders will receive DECS which is a security token built in collaboration with Polymath.
With that, the exchange enables users to get daily profits and quarterly audited dividends. Additionally, through these tokens, holders will have voting rights regarding the future development of the exchange.
Moreover, Darex the firm plans to enable its users to transfer their fiat funds in and out of the exchange using cards and bank accounts. Also, this will create the ability to cross-trade between pounds, euros, dollars, and crypto.
The DAREX team claims itself to be a transparent business model, where it will distribute quarterly reports, similar to the conventional financial companies.
Shedding some light on the future plans of the firm, its white paper says, “With liquidity in the cryptocurrency market gradually increasing we believe that by 2020 it will be time to implement a decentralized exchange structure. This will allow complete freedom in trading and enable the community to freely trade any cryptocurrency that is deemed valuable.”
Apart from Darex, Darico Ecosystem has launched products such as GNIUS and NUYS. Darico was established in Switzerland, having an office in Gibraltar along with team members in Dubai, Poland, Ukraine and Zurich.
As the exchange doesn’t want to compromise with security, a ‘failproof’ cold storage will safeguard the funds held on the exchange. Remarkably, the exchange is expected to be a beneficial mixture of a centralized exchange and a decentralized ownership structure.