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DMEX stands for Decentralized Mining Exchange. It is a decentralized trading platform for cloud mining power. DMEX is building a cloud mining power trading platform for the average users so that they could enjoy the freedom for participation, transparency in incomes, and liquidity in assets. In order to realize this mission, decentralization is the key. DMEX platform does not rely on third-party suppliers to construct the cloud mining market. Instead, DMEX plans to earn users’ trust by adopting a rigorous technical framework.
There are several keywords in DMEX’s design: NFT, DAO, and DeFi. They are the cornerstones of DMEX’s decentralized cloud mining power trading platform. Effective mining powers on DMEX platform are represented by NFT.
Different NFTs stand for different effective mining powers. When users purchased the mining power NFT, they will receive the corresponding mining incomes. NFT can also be transferred and traded, hence bringing liquidity to cloud mining power assets. In order to sell NFT mining power products, communal DAO is brought in as the arbitrator. There will be zero reliance on centralized institutions. Therefore trust and transparency can be guaranteed. Finally, NFT can be used for lending, mining, community insurance, or other DeFi activities so as to obtain a greater return.
DMEX’s procedures can be explained as follow. As DMEX is a cloud mining service market, the corresponding mining power of NFT is provided by the miners. In order to sell mining power NFT, miners have to file an application to DMEX first. The application is reviewed by DAO community.
When DAO approved the product, in order to further protect the interest of NFT buyers, miners will also need to stake a DMC collateral, i.e. the platform coin of DMEX. When the mining power NFT is minted, average users who wish to participate in mining can purchase it on the market. After users purchase the NFT, they will be able to receive the mining incomes. They can also participate in other DeFi activities such as lending, mining, or community insurance.
With the development of the smart contract, there is a golden opportunity for us to build a decentralized cloud mining power market through instruments such as NFT, DAO, community insurance, smart contract fund release, and token incentive mechanism. DMEX’s endeavor will reshape the cloud mining industry. Check out DMEX at https://ifil.dmex.im/#/ today.