Dexaran is a longtime Ethereum developer. He recently launched an ICO in an effort to implement his ideas for Ethereum Classic. Here’s what you need to know about Dexaran’s ICO.
Who Is Dexaran (DEX)?
Dexaran is a longtime developer who has worked on Ethereum for years. He’s one of the best-known and most-reputable members of the Ethereum Classic community.
However, in recent months, Dexaran’s ideas have split away from the rest of the Ethereum Classic team. Dexaran disagrees with the future development of Ethereum Classic and wants to raise money to take things to the next level. That’s why he launched the ICO.
Dexaran’s ICO is scheduled to last from July 8 to August 8.
Why Is Dexaran Launching an ICO?
Dexaran’s ambitions for Ethereum Classic differ from the rest of the Ethereum Classic development team. However, Dexaran is just one person. He wants to take things to the next level, but lacks the appropriate funds to do so.
Like most other open source developers, Dexaran is a volunteer. Despite his contributions to the Ethereum community, Dexaran has never been paid for his work on Ethereum’s infrastructure. Through the ICO, he plans to raise money to support his development goals, improving the future of Ethereum Classic.
Investors in the Dexaran ICO will receive DEX tokens in exchange for their contributions. DEX tokens are used to vote on development proposals starting in September 2018. They’ll also be tradeable on Dexaran’s own exchange in the future.
How Will Dexaran Spend The ICO Money?
The most important question is this: what does Dexaran plan to do with the ICO money?
Dexaran plans to use the money to achieve the following goals:
- Improve the infrastructure of Ethereum Classic (including improvements with DexNS, solidity coding, a governance system, and token exchange)
- Maintain compatibility with Ethereum (including GETH Classic, Mist Classic, a port of MetaMask, and ECNS)
- Introduce important protocol upgrades (Raiden, SWARM Classic, virtual machines, and zk-SNARKs)
- Finalize plans for a decentralized token exchange
- Hire a PR company or conduct a PR campaign (games, contests, art bounties, and other social-oriented events could promote the use of ETC across the internet)
Certain features are already in development by Dexaran, including ERC223 (a new token standard that solves security issues in ERC20 tokens that have already caused losses of $400,000+), DexNS (a service for smart-contract upgrading and automated ABI accessing), and ECNS (a port of ENS smart-contract that has already been developed and will be deployed soon).
DEX ICO Conclusion
Ultimately, Dexaran sees a dark future for Ethereum Classic – unless someone intervenes. Dexaran has bright plans for the future of Ethereum Classic, but lacks the funds to make it possible. That’s why Dexaran, the longtime Ethereum volunteer developer, has launched an ICO.
You can learn more about the ICO, or contribute to Dexaran’s ETH wallet in exchange for DEX tokens by visiting dexaran.github.io/ICO/
The crowdsale is scheduled to last between July 8 and August 8.