A Deep Dive into the DeFi Project DeXe and Its Native Token
DeXe has emerged as a cryptocurrency protocol with a primary focus on investment management and the facilitation of decentralized autonomous organizations. Its core objective is to enhance the overall functionality of DAOs and their operations.
History of DeXe's Creation
The genesis of the project dates back to 2019. Initially, DeXe Network was envisioned as a decentralized platform for copy trading, where users could mirror the trades of successful investors, tailor their own trading strategies, and reap profits without the necessity of direct trading.
The protocol later evolved into a management and configuration platform for DAOs. The lead developers, Yuriy Hotoviy and Dmytro Kotliarov, hail from Ukraine.
Investment Rounds
According to the analytical tool Cryptorank.io, DeXe held an ICO between September and October 2020, successfully raising $1.8 million. A month prior, the company had closed a private investment round, though the total funds raised remain undisclosed.
Among the investors in DeXe's private and strategic rounds were cryptocurrency funds such as ZBS Capital, Quest Capital Group, BN Capital, Consensus Lab, Nova Club, and others.
Investment Activity of the DeXe Network. Source:cryptorank.io
DeXe Platform Features
The DeXe Network provides users the ability to manage their investments and customize Decentralized Autonomous Organizations (DAOs) for a variety of companies. The project is currently developing and implementing the following key features:
• Creation, regulation, and updating of DAOs
• Legal considerations and strategies for DAOs
• Development of democratic solutions for decentralized autonomous organizations and efforts to reduce vote monopolization within crypto projects
• Tools for building a cryptocurrency portfolio and monitoring investments.
DeXe regularly introduces ambassador programs and various user interactions, where one can gain valuable experience in working with DAOs and also earn monetary rewards.
The Native DEXE Token
The DEXE coin has been available on exchanges since October 2020. The token is used within the DAO to manage the project, distribute rewards for user activities, profit farming, and other functions.
According to the Coingecko analytics tool, at the time this article was written, the DeXe token had the following metrics:
● Asset price: $2.00
• Market capitalization: $75 million
• Circulating supply: 36 million
• Maximum supply: 96 million coins
• Average daily trading volume: $1 million
• ATH: $29.61
• ATL: $0.67
In terms of official tokenomics, the majority of tokens are held by the reserve fund (Foundation - 33%) and the team (20%). Partners and ecosystem development hold 15% while trading tournaments and staking have 10% each. The remainder has been distributed for liquidity, public sales, and marketing.
DEXE Coin Tokenomics. Source:https://dexe.network/sale-details
The DEXE token can be purchased on cryptocurrency exchanges such as KuCoin, Mexc, Binance, Huobi, and Gate, as well as on decentralized platforms like Uniswap and Pancake Swap. For a complete list of trading platforms, one can refer to analytical resources like CoinGecko and CoinMarketCap, specifically under the "Markets" section.
DEXE Price Dynamics. Source:coingecko.com
If we consider an average token price of $0.95 for investors and the absence of major lock-ins, it's feasible for private investors and ICO participants to recoup their initial investments and even generate profits.
Advantages and Challenges of the Project
DeXe presents an intriguing solution in the realm of Decentralized Autonomous Organizations (DAOs). The project initiated its growth amidst the overall surge of the DeFi ecosystem, gaining considerable popularity and attracting new users.
However, the project's trajectory has been significantly complicated by shifting positioning and competitive pressures in the DAO sector. To date, a comprehensive DeXe app is yet to be released; it's currently undergoing beta testing.
