Darico’s Update - July, 2020

Ever since the beginning of 2020, the world has been battling with the COVID-19 pandemic. Although the extent of pandemic varies from one country to another, its impact on all the aspects of our lives would persist for years to come. As the broader world's economy suffers from the consequences of the virus, many industries have been affected severely, including airlines, hospitality, F&B, etc. 

Lockdowns and restrictions are being imposed by local authorities to control the spread of the virus and flatten the curve. A lot of global tech companies have shut down their offices at least till the end of this year anticipating the second wave of the virus. 

These rapid changes are positively impacting online based businesses and fintech companies. We can already see these companies witnessing a surge in the number of users during the pandemic. Many in the crypto community are hopeful that these changes would speed up the process of cryptocurrency mass adoption. The world post coronavirus era would be changed in ways we can't imagine.

After observing the fundamental changes taking place around us, we at Darico recognized the necessity to make changes and adapt to the new climate. As we are gearing up to launch the Darico digital exchange officially, we are excited to share the project updates with our community.

Darico Exchange is live!

On the Darico Exchange, users can now trade various markets like Spot, Margin, ETF, OTC, and the popular Future trading (perpetual swaps). The Darico trading platforms can be accessed on desktop, mobiles & apps. A lot of new features are currently being developed and would be launched shortly.

As of today, users can trade about 135 pairs in the Spot market. The list is expanding as we are gradually adding more pairs to it.

75 spot wallets have been deployed until now to ease the deposits and withdrawals in different cryptocurrencies. 

In the coming weeks, we will be adding the fiat wallets feature to the exchange.  You would have an option to top up these wallets through Paypal, credit cards, wire transfers, and other fiat gateways. 

Security and Liquidity

We have been in discussion with the biggest players in the market and partnered with them to ensure deep liquidity for most of the crypto pairs and deployed best security practices for assuring safety of client funds that would be stored in segregated cold storage. 

Staking wallets

We are in the process of incorporating Staking wallets on the Darico Exchange. The purpose of these wallets is to deposit (stake) DEC and earn from exchange revenue. We are anticipating to complete the integration process before the end of September. We will be announcing the further details once that is deployed on the exchange.

DEC/USDT

DEC has been paired with USDT on the exchange, and you can trade this pair on the Darico Exchange by clicking on the following link - DEC/USDT. We will also be pairing DEC with ETH & BTC before the end of August.

Darico brokerage platform’s domain migration 

Darico brokerage platform has been migrated to darico.co. Now, you can access your wallets and trade traditional financial instruments from various markets (Forex, Stocks, Indices, Hard/Soft Commodities, etc.) on the Darico's MT5 platform. 

Promoting the Darico parent brand 

All the components related to the Darico ecosystem will lose their identity with immediate effect. This is an effort to consolidate all marketing activities towards the main Darico brand. Below are the old and new names of the Darico ecosystem components.  

Darico Exchange marketing campaign 

We have planned a unique marketing campaign to promote the Darico exchange with the primary goal of expanding our community. During this campaign, all the trading fees collected on the exchange will be paid back to the users in the form of DEC.

Darico’s journey towards decentralization 

It is envisioned that starting from Q4-2020, we would be introducing community governance policies and voting rights. The ultimate goal is to turn the entire project to DAO in a few years, with DEC being the governance token. With the rise of DeFi, we would look into possibilities of incorporating DeFi protocols, which could facilitate the process of decentralization in infrastructure of some centralized platforms.

We will also be posting updates on ‘DECS,' 'Staking Fund 2020,' and ‘Darican Program - Token Distribution.'  

Sincerely,

Darico Team.