Approval of the new core product within DeXe Protocol's ecosystem, along with related actions such as rebranding, website update

Approval of the new core product in the ecosystem of DeXe Protocol and supporting correlative actions, including the rebranding of DeXe Protocol, updating of the Website of DeXe Protocol, DeXe Protocol’s DAO memorandum, and DeXe Protocol’s Whitepaper.

Main Goal

To approve the new core product in the ecosystem of DeXe Protocol (the “Protocol”) and supporting correlative actions, including rebranding of the Protocol, updating of the Website of the Protocol (the “Website”), the Protocol’s decentralized autonomous organization (the “DAO”) memorandum (the “Memorandum”), and the Protocol’s Whitepaper (the “Whitepaper”).

Summary

I, in my capacity as a technical specialist and community member of DeXe, acting independently and in the best interest of the DeXe community, understand that due to the rapid expansion and growth of the DeXe Protocol, we need to comply with the modern needs of the market.

From the beginning, our Protocol has been positioned as the social trading one, but, in current circumstances, it is grounded enough to pay attention to the rapid growth of the DAOs. For example, according to Finance Magnates, “Despite regulatory uncertainty surrounding DAOs, their growth has accelerated in recent years. Token Terminal data show that the total value locked in DAOs increased from around $50 million in early 2020 to more than $5 billion in early 2022”. The same tendency was revealed by Forbes stuff: “Research shows as of January 2022, the total market capitalization of all DAO tokens stands at roughly 21 billion.”. As per Cointelegraph, the market capitalization of the DAOs is growing continuously and “According to figures from the DAO data platform, on March 31, total assets for all decentralized autonomous organizations reached a record $25.1 billion”.

Taking into account the mentioned above information and others performed by my deep market research, it is understood that the market needs some suitable means, such as the so-called “DAO for DAOs”, which will include simple unified instruments which may become market standard in the future, for the DAOs establishment and management, with most common and broad to the maximum extent functionality. Such instruments may allow all market participants to create and manage their DAOs in a few simple steps. Therefore, in my opinion, one of the core products in the ecosystem of the Protocol should be the DAO management protocol, based on which DeXe community members may create the relevant instruments and help market participants handle their DAOs.

In light of the foregoing, I, together with the other community members, propose to approve the new core product of the Protocol’s ecosystem, namely DAO management protocol and correlative rebranding of the Protocol, taking into account the broader community’s comments. Also, upon discussion with the community, I propose the following:

• Update the Website, taking into account the new core product;
• Updated Whitepaper taking into account the new core product; and
• Update Memorandum taking into account the new core product.