BlockEx DAXT is a digital token that aims to disrupt the ICO market by guaranteeing fair and transparent access to ICO distribution. Find out how it works today in our review.
What is BlockEx DAXT?
DAXT stands for “Digital Asset Exchange Token”. It wants to disrupt the ICO market by making it easier for anyone to access ICOs.
The token was created by BlockEx, a London-based fintech company launched in 2014. BlockEx DAXT was previously known for launching the Digital Asset Exchange Platform, or DAxP, a global marketplace for all asset classes and instruments using distributed ledger technology (DLT).
In addition to the DAxP, BlockEx is now offering an ICO for its DAXT coin. That ICO began on January 27, 2018.
The ultimate goal of DAXT is to add initial coin offerings to the asset classes being serviced by the DAXP platform.
What Problems Does BlockEx DAXT Seek to Solve?
BlockEx seeks to solve a number of problems by introducing DAXT to the market. Here are some of the problems the whitepaper identifies in today’s ICO market:
Distribution and Allocation:
The majority of the distribution and allocation of ICOs has been on a first-come, first-served basis. This leads to a relationship-based financing system, where those close to the company receive the most benefits.
When an ICO is first publicized, only a small number of people are aware of it. This creates a system where only those close to the operators or marketers of an ICO receive fair allocation. This is a problem because early adopters receive preferential treatment and disproportionally larger allocations than the general public.
Lack of Regulatory Compliance and Standards:
ICOs across the cryptocurrency industry have been halted because the tokens behaved like traditional financial security investments. Many people believe ICOs are scams. Overall, the industry has a bad reputation and a lack of regulatory compliance or standards.
AML and KYC:
The ICO marketplace is filled with regulatory problems for buyers and issuers of ICOs. ICOs can be structured as financial securities, which means customers are required to provide personal information to meet AML and KYC verifications, otherwise the ICO can be used for money laundering. That could cause ICO participants to be exposed to fraudulent activity.
Users buy ICO tokens because of the ideas and information presented in the whitepaper. However, there’s no real way to verify this information is accurate. The ICO market is unregulated, and these promises are not bound by law or fit for legal action. Therefore, token buyers have no monitoring or recourse mechanism to keep ICO issuers in check or prevent frauds and scams.
How Does BlockEx DAXT Work?
BlockEx solves the problems above using its DAxP platform and its DAXT token.
The DAxP is an institutional grade exchange with blockchain asset origination, issuance, dematerialization, and lifecycle management tools.
The infrastructure allows for custom blockchain integrations for financial services, capital markets, and governments. Using this platform, BlockEx aims to connect new and old financial markets together by linking traditional and non-traditional asset classes under one umbrella exchange.
To accomplish that goal, BlockEx is releasing a turnkey solution called the Digital Token Product Offering. It’s a turnkey solution for the ICO market. The Digital Token Product Offering consists of two core parts:
Advisory and structuring services. It’s an open marketplace where users can buy a variety of asset classes, including ICOs. There will be the ICO Market, a dedicated space for individuals looking to issue ICOs, and for individuals looking to purchase ICOs.
Pot Allocation System:
Resolves problems related to distribution and allocation and the lack of regulatory compliance in the current ICO market. This is an embedded program within the ICO Market that automatically calculates the allocation of ICOs during a pre-sale. It’s designed to calculate allocations for each customer according to the share of total funds subscribed.
The ecosystem revolves around the Digital Asset Exchange Token, or DAXT.
How Does the DAXT Token Work?
The Digital Asset Exchange Token (DAXT) is a utility coin described as “the ICO of BlockEx.” The company is distributing DAXT coins through a token sale. The basic idea behind DAXT is that if you hold DAXT tokens, then you’ll have a guaranteed allocation during ICO pre-sales on the ICO market if you use DAXT to participate in the token sale. Your DAXT are burnt after use.
If you spend all of your DAXT, then you can purchase additional DAXT on BlockEx’s DAxP, either from the market or during BlockEx’s seasonal coin offerings.
Some of the core features of DAXT include:
- Available for purchase only via the BlockEx ICO Market
- Issued on a pre-mined basis and will not be mineable
- There will be an infinite volume of DAXT available
- 51% of the allocation will be available at the time of the issuance
- 25% of the allocation will be retained by the company for marketing, referrals, and bounties
- Additional tranches of token sales called “Seasonal Coin Offerings” will take place periodically
- DAXT tokens are ERC20 tokens on the Ethereum blockchain
The BlockEx DAXT ICO
There will be a total of 130 million DAXT generated prior to the token sale. 55% of those tokens will be reserved for the team and founders. 25% will be allocated to a reserve fund, and 20% for the team and founders.
You can contribute to the token sale using BTC, ETH, and fiat currencies. There’s a cap of 35.7 million EUR for the BlockEx DAXT ICO.
A pre-sale for DAXT took place in early December 2017. The general token sale, meanwhile, is scheduled to begin on January 27, 2018.
Who’s Behind BlockEx?
BlockEx is led by Adam Leonard (CEO) and Aleks Nowak (CIO). The company was launched in September 2014 as a pooled liquidity exchange with a high frequency trading engine.
BlockEx is based in London.
BlockEx DAXT ICO Conclusion
BlockEx is a digital asset exchange platform that functions as a pooled liquidity exchange. The platform has a high frequency trade matching engine built to meet the needs of institutional investors and larger retail traders.
BlockEx recently announced the launch of its Digital Asset Exchange Tokens, or DAXT, which are designed to solve crucial problems in the ICO industry. Those who hold DAXT tokens are eligible for early participation in ICOs.
To learn more about BlockEx and how its DAXT token and DAxP platform work, visit online today at DAXT.io.