New Crypto Exchange Will Be ‘100 Percent Owned By Users’

DAREX’s hybrid model allows users to trade utilities and securities – and the revenue generated from these transactions is subsequently shared with token holders. In time, the exchange hopes to become a “truly helpful and democratic exchange platform for all.”

The startup is set to be “the first exchange of its kind” thanks to how it blends the advantages of centralized exchanges with a decentralized ownership structure. The platform is going to be “100 percent owned” by the Darico community through the distribution of Darico Exchange Community Shares – called DECS for short.

As well as paving the way for profit distribution, these security tokens would enable holders to have voting rights – giving them a say on how the exchange develops within the future.

The startup hopes that individuals, institutions, professional traders and investors can all stand to benefit from what the exchange has to offer – enabling them to trade, deposit and withdraw “a sort of top-ranked cryptocurrencies.” In 2019 the company plans to allow users to transfer act funds in and out of the exchange using cards and bank accounts, making the flexibility to cross-trade between pounds, euros, dollars and crypto.

DAREX is the third launch for the Darico ecosystem – and DECS could be a collaboration between Darico and polymath, a “specialized tokenization service that helps companies launch securities tokens on blockchain.” Tokens are going to be distributed to the community on January. 10 2019.

Secure, fast, reliable, transparent

The team behind DAREX says the hybrid exchange is going to pride itself on a “transparent business model” where a prominent auditing firm produces quarterly reports that are compliant with international standards – a practice that’s usually followed by conventional financial companies. A beta version of the platform is going to launch early next year.

From a security perspective, DAREX says “failproof” cold storage is going to be used that protects funds held on the exchange, while guaranteeing they're accessible at all times. A monitoring system would also keep track of activity on the platform “around the clock” – helping to flag any suspicious or anomalous activity. It's hoped that these features won’t be at the expense of transaction speeds – with low-latency mechanisms “designed to create sure that trades are executed in a flash.”

Offering a vision of how its platform will look in the future, its white paper adds: “With liquidity in the cryptocurrency market step by step increasing we believe that by 2020 it'll be time to implement a decentralized exchange structure. This may enable complete freedom in trading and enable the community to freely trade any cryptocurrency that's deemed valuable.”

Darex is the latest product of the Darico ecosystem that also includes GNIUS, Darico’s wallet that supports Bitcoin, Ethereum, neo and over 2000 ERC20 and NEP-5 tokens. The ecosystem also contains NUYS – the terminal that enables customers to access the ecosystem’s wallet and an index fund.

Darico has been incorporated in Switzerland and has an office in Gibraltar – and it also has team members based in Dubai, Poland, Zurich and Ukraine.

The idea for its ecosystem came into being towards the end of 2016, and was further finessed throughout 2017. Its presale was held as 2017 drew to a close, and this was followed by a token sale for DEC as 2018 began.