AMA Recap: DMEX with Boom
On Tuesday, April 26, DMEX’s CTO Rufus Jiang joined the Boom Telegram community for a live AMA. If you missed this AMA, don’t worry. This blog post includes a brief highlight reel of the live AMA session. Are you eager to learn about DMEX’s newest updates? Here we go :)
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Question 1. Our guest today is Rufus, the CTO of the decentralized mining exchange DMEX. Rufus, please introduce yourself
Hi everyone, I’m Rufus, the CTO of DMEX (dmex.finance), the Decentralized Crypto Mining Platform. As the CTO, I’m responsible for developing the functional modules of DMEX. I have international cloud technology development experience for I’ve worked at P&G, Microsoft and Amazon, I’ve built and led large engineering teams. I have in-depth research experience on blockchain, cloud web development toolchain, distributed computing architecture, cloud computing, and so on. Today I’m very glad to join the Boom community to share with you the latest progress of our DMEX project. SocialFi is a great idea and Boom is a strong project in this aspect!
Question 2. Please tell us more about the DMEX project, what kind of project is it? What specific problems can it solve? And what does the team hope to build the project into in the future?
DMEX (dmex.finance) is the first decentralized crypto mining financial service platform in the industry. Combined with a rich variety of DeFi protocols, not only can DMEX users purchase mining power NFT to obtain mining income, but also can they participate in various DeFi activities on the platform such as the mining power marketplace for mining power NFT’s transfer and resale. We also offer a collateral loans, as well as liquidity mining and joint mining.
We hope to build DMEX into a comprehensive financial service platform linking miners and users, bridging mining power providers with every crypto user, and allocating a solid value-added asset for everyone who is interested in starting their first crypto investment.
Question 3. Mining power NFT is DMEX’s key product. What kind of mining power NFT and mining relevant products does DMEX have in store now? Can you give us some brief information about them?
DMEX currently has two types of mining power NFT products on sale, i.e. BTC mining power NFT and IPFS/Fliecoin mining power NFT. Our hash power providers are all industry-leading top-quality miners. All of our mining power products are tokenized into NFT and ready to generate mining income for any buyer right away. The BTC mining power is supported by the latest Bitmain ant mining machine S19 (88.5T), with a mining contract term of 1080 days, priced at 106 USDT/T. Our IPFS mining power product has two contract terms of 540 days/1080 days, with a cumulative FIL total lockup value of over 280,000 in both BSC and HECO chains. The annualized yields can reach over 60%. In 2021 alone our total FIL mining power volume has exceeded 30 PiB which is a substantial amount in the Filecoin industry.
We have also launched FIL/USDT/DMC joint mining products, with these flexible products users can deposit and withdraw their funds to the joint mining pool as they wish. The mining returns are settled daily, with an annualized yields above 20%. DMEX also provides a DeFi collateral loan business built around mining power NFT, where users can pledge their mining power NFT as the collateral to lend out a fund for further investments. The pledged mining power NFT can still generate mining income for the borrower throughout the term of the loan. With proper reinvestments, the annualized yields of DMEX’s mining power collateral loan product can reach over 200%. Currently, DMEX’s product line has been favored by more than 300,000 users worldwide.
Question 4. I see that DMEX is trying to build a mining metaverse financial ecosystem based on mining power NFT, what do you think are the advantages of DMEX compared to other projects with metaverse features?
The metaverse is a virtual space on the blockchain parallel to the real world, it is an immersive virtual world providing a similar experience to the existing world, it is also a free and open cyber world of the future. DMEX sees that metaverse has a great potential for further crypto mining applications.
DMEX offers a wide range of mining power NFT assets such as BTC, ETH, and IPFS/Filecoin based on the Erc721 protocol. By linking mining power providers with mining users, DMEX maps real-world crypto mining hash power to the virtual metaverse world on the blockchain, hence giving NFT real production values and also solving many problems with the traditional mining industry such as non-transparency and poor liquidity.
At the same time, DMEX is also building an open metaverse financial ecosystem, which can incorporate many application scenarios such as DeFi/GameFi/VR/AR, and even operate and transfer these assets, thereby forming a cross-platform, cross-scenario, and cross-protocol circulation of mining power NFT assets, allowing users to obtain a variety of aggregated interests and incomes including crypto mining income and mining power NFT DeFi income.
DMEX’s most important feature is our mining power NFT model, which can be widely developed in cooperation with other platforms, such as customized mining power NFT for more metaverse tokens, adding mining income features to in-game assets so as to enhance GameFi’s play-to-earn models, etc. The goal is to create a mining metaverse where every user owns mining power NFT, so as to form an active metaverse crypto-economy. The DMEX platform recognizes that mining power NFT is only the start of valuable mining asset management in the metaverse, more people should start enjoying the benefit of crypto mining in the metaverse world.
Question 5. DMEX combines NFT, DeFi, and DAO, how do they each function in the DMEX architecture? How do they collaborate with each other?
Mining power NFT is the underlying asset of DMEX. The NFT technology connects physical mining power assets and virtual blockchain applications. Each of DMEX’s mining power NFT corresponds to actual mining power from physical mining machines. By tokenizing mining power assets into NFT, DMEX bridges the gap between physical assets and blockchain assets, further lowering the entry barrier for users to participate in crypto mining, DMEX has made the distribution of crypto mining revenue much more open and transparent.
DeFi is an important blockchain income amplifier of a valuable extension of financial scenarios. After the tokenization of mining power, aka. hash power, users can transfer their mining power NFT at any time on the DMEX platform. They are also free to pledge their mining power NFT as collateral to borrow a low-interest loan, or participate in a series of DeFi mining pools to earn an extra income. Users can achieve multiple compounded earnings by participating in DMEX’s DeFi products.
The DAO is the governance structure of the DMEX platform. All DMC holders are entitled to participate in the governance of the DMEX platform, everyone can join the decision-making process during major platform events. DMEX users work together and rely on each other to form a thriving user community and a stable ecosystem for the continuous development of the DMEX platform.
Question 6. What are the next steps for DMEX? Will you reveal it to us?
In the coming months of 2022, DMEX will mainly focus on the following three aspects.
First, we will further expand our DeFi product line. We are planning on launching a brand new mining power auction system to provide our users with more earning options.
Secondly, we will continue to integrate and launch new mining power NFT products on various public chains. At present, we are mainly operating on the BSC chain and the HECO chain. With the fast development of Ethernet Layer 2, we will expand DMEX’s product line there to better serve the powerful user group on Ethereum.
Thirdly, we will continue to add more value to our platform token DMC. Through the continuous improvement and innovation of our mining power NFT business, DMC will become the key token of the DMEX ecosystem.
Fourth, we will add more application scenarios to expand our metaverse ecosystem. The hot concept of the metaverse is an ideal testing ground for mining power NFT.
These are my visions for DMEX and I believe our community is definitely going to benefit from our plan.
Official website: https://dmex.finance
Dapp: bsc.dmex.im / ht.dmex.im