DMEX decentralized hash rate financial platform starting initial mining during Chinese New Year

Host: Hey @RufusDMEX @WillDMEX!

Please introduce yourselves in brief, including your background and role in the company.

Rufus: Hello guys! This is Rufus, CTO of DMEX. I’m mainly in charge of the R&D department. I was graduated from Beijing University and UMich. I’m a global engineer building and leading massive teams. I’ve successively been employed in P&G, Microsoft, and Amazon. And I’ve deeply researched the blockchain, cloud network development toolchain, distributed computing system structure, and cloud computing areas.

Will: Hello guys! I’m Will, CPO of DMEX. I’m mainly in charge of the products and the tokenomic model designing. I hold a master’s degree from Zhongshan University and I have been continuously launching my own businesses focusing on the practice of blockchain technologies. I’ve deeply researched the DeFi area and I’m good at the tokenomic model designing for blockchain products. In 2017, I’ve created the decentralized multi-chain wallet, Bying wallet.

Host: Alright. So can you briefly introduce DMEX to our community? What are its objectives and mission?

Rufus: DMEX is the first decentralized hash rate financial service platform. Approaching the selling and assignment of the hash rate, DMEX provides NFT assets based on Erc721 protocol and is compatible with all smart contract chains constructed based on Ethereum technology (like heco chain). We have developed new gameplay forming NFT derivatives from Filecoin hash rate to reduce the economic loss of the users caused by the lack of transparency of information related to the Filecoin mining machine and hash rate. DMEX will start preferentially from the Filecoin hash rate market and expand to other hash rate products like BTC, ETH, and others required by the market step by step.

The objective of DMEX is to create an accessible decentralized hash rate financial service platform with tokenized hash rate mining, transparent mining machine supervision, automatic reward distribution, joint market adventure governed by the community.

DMEX platform is devoted to solving the problems in the traditional cloud computing marketplace such as the risk of non-redemption, the lack of liquidity and transparency of the asset, and the reward for the purchaser of the hash rate in order to let all users get a portion of the hash rate mining reward without any difficulties and security problems.

Host: Alright. So why did you choose to develop your project in the Filecoin cloud computing area? In your point of view, what existing problems have you detected in the Filecoin and cloud computing area that needed to be changed by your company?

Rufus: Yes, because we know that there are several mainstream tokens in the whole hash rate mining market, such as BTC, ETH, and FIL. Needless to say, BTC and ETH occupy a large scale of the whole market and have a popular base. Filecoin is the original token of IPFS developed by Protocol Labs. Filecoin has a wild vision aiming to preserve the information of human civilization forever. On Oct 15, 2020, the main network of storage public chain which had been developed for three years has officially been launched. The scale of data stored on the chain is currently keeping a fast speed of growth. The grand vision of Filecoin is attracting a mass of developers and community constructors which generates a great consensus and makes it a mainstream token. As Filecoin was just popped up online, the market is still giving it a rather low value. So it’s actually the best time to participate in the mining. To make it simple, the users can enter the market at a rather low price and buy a hen that lays golden eggs. At present, the payback period is 8 months. According to the market development situation, it can have a really big ascending space. So to make File the underlying asset of the platform can be a really good time point and will also have good potential. But using Filecoin will also bring certain burdens, as we all know, before the whole hash rate market was online, it had already been promoted by numerous markets, the hash rate solutions on the market are all mixed up, making it difficult and unsafe for the users to participate. Some solutions sell space, while others sell hash rate after packaging them. It will need a long period of time to deliver the full storage hash rate that the users really need. The users will lose the early profit to participate in mining and it can also be scams. Hash rate formed by DMEX, ABS is all real and effective full storage hash rate. The users can always go on the block browser to check the record. The users will start to receive their hash rate reward after one day. We just want to build a decentralized financial platform with joint adventure and joint profit governed by the community.

Host: Alright. So how does DMEX operate? What are the main functions it provides to its participants?

Will: The effective hash rate provided by the DMEX platform can be presented under the form of NFT (Non-fungible tokens). Within the platform, we can accomplish the decentralized selling and transferring process of the hash rate NFT. The users can receive an effective cloud hash rate with a one-year limit or any other limit by holding the NFT. Within the time period, the NFT can be transferred freely. Combining with DeFi, we can form even more new financial derivatives gameplays, such as NFT pledge loans and NFT staking. In this way, we can let the hash rate supplier lock their stable reward in advance, and let the users receive multiple rewards through transactions or DeFi while receiving the mining rewards.

DMEX has the following principal functions:

• Hash rate Non-fungible tokenization: Through non-fungible tokenization, we can realize the authentication and assignment accessibility of the hash rate, and the miners can receive stable rewards through locking in advance.
• Hash rate selling and trading: The users can purchase hash rate NFT and their NFT purchased at any time through the DMEX platform.
• DeFi ecosystem: The users who hold the hash rate NFT can participate in the NFT DeFi gameplay to receive multiple rewards apart from their daily stable mining rewards.

Host: Alright. So how does DMEX ensure the cashing of the NFT hash rate?

Rufus: We will ensure the NFT cashing through community DAO. The details can be divided into the following parts:

• Pre-sale auction: It should first pass the pre-sale audition of the community DAO. Before the selling, the miners should submit hash rate selling documents and put them to be voted by the community to ensure the capability to control the amount of hash rate sold by a single miner.
• Supervision on the cashing process of the hash rate NFT mining reward: If the miners don’t distribute reward as the arranged time on the NFT, or the mining rewards are continuously over 20% lower than the average market price, the community can vote to end the release of the fund in the contract. The remaining fund will be returned to the users according to the proportion of NFT held by the users.
• Establishment of after-sale joint adventure foundation: the fund will be managed by the community through voting. If any extreme incidents occur and cause huge economic loss to the users, they will be compensated by the joint adventure fund of the platform.

Host: Alright. I can see that the hash rate NFT created by DMEX is really unique. Can you tell us more about the advantages of it compared with the traditional hash rate selling platforms?

Will: Comparing with the centralized exchanges, DMEX has these several differences:

• Decentralization: DMEX is decentralized, while the traditional ones are centralized.
• Effective hash rate: The NFT products purchased are all effective storage hash rate, you can receive mining rewards under the rules immediately after purchasing.
• Transparency: Through the DMEX platform, you can detect the hash rate condition of the mining machine corresponding to your own NFT at any time. While the traditional mining reward is lack transparency, the users cannot know the nodes corresponding to their hash rate, so they cannot calculate the rewards themselves.
• Assignment issue: The hash rate is tokenized and can be transferred at any time.
• Mining rewards distribution: The daily mining rewards will be distributed to your account automatically.
• Community governance mechanism: Through community self-governance, you can vote to audit the qualification of selling NFT hash rate, you can also vote against the potential bad behaviors to defend your rights.
• Joint adventure foundation: We establish a joint adventure foundation on the platform to avoid bad behaviors of the miners or other extreme incidents.
• Other financial gameplays: Different from the traditional hash rate gameplay, where you just sit there and wait for your mining rewards, DMEX has also established DeFi gameplays such as NFT hash rate purchasing or NFT pledge loans to gain tokens of the platform or asset liquidity for multiple rewards.

Host: Alright. So how did you design the tokenomic model of DMC? For the token holders, what are the main functions of the token, and what are the reasons for them to hold it for a long period of time besides mining?

Will: Firstly, the total supply of DMC is 100 million.

50% will be generated through liquidity mining, the users can receive DMC after staking through the trading pair of HUSD/DMC or ETH/DMC.

40% will be generated through behavior mining, which means to gather dToken through depositing HUSD/FIL to participate in the associated mining on the platform than stake dToken to get DMC.

And the last 10% will be generated through staking, the users can gather DMC through staking DMC.

Host: Alright. So what is the development process of DMEX now, and what is its next plan?

Rufus: Now the 1.0 version of the product is already online on Ethereum and Heco chain. The liquidity mining protocol for the 2.0 and 3.0 versions of DMEX has already accomplished. We are currently testing the associated mining function of our 2.0 version on the Heco chain publicly. You’re all welcome to join our public testing and you can be rewarded generously if your advice has been adopted. The safety of the DMEX contract is also being tested. The audition report will be published within the next several days. We will continue to develop a variety of products and use them in some other financial scenarios.

On the side of project cooperation, we have reached a deep cooperation with Nonentropy. They will provide 10P FIL of effective hash rate to the DMEX platform to let the users participate in the associated mining. Meanwhile, we will expand our cooperation with other mining fields as well.

We are an honest technical team and we don’t want to give vacuous promises. We just want to follow our original objective and make the dream when we first built DMEX come true. We recommend that all of you supervise us and fight for our dream together. Thank you!

Host: Wow! This is really impressive! Thank you so much! Now we are selecting several questions from our community. Alright, the first one. Where does the revenue of Dmex come from?

Will: DMC, the token of our platform can provide our users the accessibility to participate in mining and promote the circulation of the assets of the miners at the same time. When the hash rate NFT starts to be sold, the platform will have 5% of the reward distribution. Whereas for associated mining, the users will get 75% of the total rewards, the miners will get 25%, and the platform will get 5%. The more hash rate the platform has, the more rewards the users will receive. Meanwhile, our platform will use 80% of the total rewards to repurchase DMC for burning, this guarantees the long-term value of our project, which means the users are getting rewards from the revenue realized through tasks completing.

Host: Has the contract been audited?

Will: We attach much importance to this problem. We are now contacting the security audition institution and we will publish reports in the near future. You will be able to check it through our official website by the time.

Host: What do you have as a surprise for the spring festival?

Will: We will start the initial mining during the spring festival. You can get an annual yield of up to 500% for the initial mining. Please feel free to participate in it by the time.

Host: How can I participate in the initial mining?

Will: For initial mining, we will launch behavior mining and liquidity mining in the associated mining pool. You can go for the associated mining for the first three days, FIL and USDT will be supported to transfer into an effective hash rate. After you deposit them in the associated mining pool, you will get the associated LP, with which you can get DMC in Pool 1 as the reward. You can also go in Metamask to add our liquidity and get our liquidity LP, with which you can go for liquidity mining in Pool 2.

Host: Which one is more important? To promote the price of the token or to increase the inner value of the token? Which one will DMEX do first?

Will: First, we insist that the projects exist to solve problems. We want to bring about the real value and revolution to the mining industry. But in the whole process, we still need our community to participate. Only the consensus of the community can generate value, then price won’t be a problem. The AMA event we are holding now is a very good method. After the pandemic, we will surely have more face to face interactions.