The Evolution of DeXe
Blockchain technology and the DeFi universe move so fast that projects must adapt or become irrelevant. The best ones move even faster than the market and end up creating the future before it’s even clearly understood by most market participants.
That’s exactly why, in just 2 years, the Dexe Network evolved from the mission of building the first DeFi social trading platform to the creation of an entire asset and DAO management system.
As a DAO, this evolution is community-driven. Our community consists of many traders, asset managers, and investors — the exact people who will be using our platform. Letting their feedback and actual needs drive development, the team was able to build a platform that empowers them rather than limit them (as the current solutions on the market tend to do). What we’re getting ready to release is, in true DAO spirit, a product of the explicitly expressed needs of its users.
Our community is very forward-thinking and supportive of all the work required for DeXe to release such an advanced product, a product that is requiring a lot more hours of work, more Github commits, etc. In fact, just in the past year, a mountain of work has been done. Take a look at 3 of our Github repositories and the spikes in commits:
https://github.com/dexe-network/investing-dashboard
This is our front-end code. In the past year, we added over 50k lines of code over 1,047 commits.
https://github.com/dexe-network/investment-contracts
This one’s for our smart contracts. Over 48k new lines of code over 302 commits.
https://github.com/dexe-network/investment-subgraph
This one is for the subgraph that lets us keep up-to-date stats on the project. Nearly 35k new lines of code over 370 commits in the past year.
This is the work it takes to build a product that the fund managers will use, going not from the “we will build it and they will come” but rather a “will will build exactly what they need” perspective. Everybody talks about listening to users, but this is far beyond that. Because in building a social trading platform, we realized that we’re really building a better system to manage relationships. Ultimately, your best asset is not the crypto you trade nor even the assets you hold — your biggest asset are the relationships you cultivate.
By evolving DeXe from social trading to Asset and DAO Management, the team is giving DeFi what it has been missing: a decentralized, transparent, secure, and flexible way to manage relationships as assets.
What does that mean in practice?
Fund managers can create a new fund for every strategy they want, from training cryptocurrencies to investing in physical assets like Real-Estate. They can set their own compensation to properly reflect their talent, up to 70% of profit if they so desire. They aren’t limited to a small list of mainstream tokens yet have very clear parameters that ensure the safety of investor deposits. In short, they are limited only by their imagination and talent.
Investors get unprecedented protections, such as the fund loss insurance, manager’s minimum deposit of own funds, smart contracts that ensure that manager never touches investor funds directly, and so on. And, of course, a wide choice of strategies to choose from.
In the big picture, assets no longer need to be limited to cryptocurrencies, let alone a small basket of mainstream ones. Trading no longer needs to be copied (classic social trading) since our platform will allow traders to manage investor funds without ever having direct access to them, moving the “copying” to a smart contract that executes trades for both managers and investors. People can come together and invest in all kinds of assets in the digital and physical world knowing that their relationship is secured by our transparent and decentralized system with a number of safety features built in.
DAOs, sadly, are not living up to their potential, with very few having a significant percentage of actively voting members, let alone flexible proposal and voting mechanisms such as quorum settings, use of validators, reward distribution, using NFTs and tokens for governance, and so on. And that’s because the relationship between the DAO and it’s members is superficial and stale, more often there in form only.
But the DAO funds part of our main product will allow DAO creators to build DAOs with a dynamic relationship to and among its members in a few clicks. A DAO that can be modified with proposals from a properly-incentivized community. A DAO that has flexible settings for voting, quorums, validators, etc. Finally, DAOs can serve their purpose and make an impact, all based on DAO members using their relationship to each other and the DAO for everyone’s benefit. For the first time, each DAO member feels appreciated and valuable, where he is part of a business that directly benefits him and needs his participation to thrive.
Since DeXe is a DAO itself, we are both very ambitious and very flexible: our community is amazing in pushing us to do real innovation and supporting the process of building it. For example, the insurance from fund losses is something absolutely unheard of. But our wise DAO members care a lot about limiting risks to investor capital on our platform.
The DeXe team is proud of acting swiftly on new opportunities and threats. We saw new listings being plagued by snipe listing bots and solved it with the 111PG product. We saw DeFi lacking a powerful trading terminal and solved it with the Kattana Trading Terminal product. In the big picture, we see the emergence of relationships as assets and we’re spearheading that trend with our flagship product. This is the innovation our community is waiting for, and the team is making sure that it’s well worth the wait. Because DeXe is building the future of DeFi and will never be an echo of the past.
Stay tuned!
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