DeXian Protocol, formally known as DeXian Staking Earning (DSE), is a liquid staking protocol based on Radix. The protocol offers users a unique opportunity to join a liquid staking pool and earn stable proceeds through the DeXian service. Notably, users can immediately redeem their XRD investments without the typical waiting period associated with the Radix unstaking delay.
Developed by the technical team of KaiYuan Epoch Validator, DeXian has been actively involved with Radix since 2018. The team participated in early Betanet network testing in 2021 and has been operating validators on Olympia and Alexandria. DeXian also contributed to a series of Radix Scrypto-Challenges and played a pivotal role in promoting Radix within the Chinese community by translating key white papers, including those on Radix DeFi and the Cerberus consensus.
DeXian Protocol operates as a platform that offers various services for users to participate in staking and lending on the Radix network. Here are some key features and components of the DeXian Protocol platform:
DeXian Protocol provides a liquid staking service that allows users to stake their tokens on the Radix network while maintaining liquidity. This means that users can stake their tokens and still have the flexibility to use or trade them without waiting for the typical unstaking period.
The platform offers a fast unstaking feature, enabling users to redeem their staked tokens quickly. This allows users to access and use their tokens without having to wait for the standard unstaking period, which can range from 10 to 15 days on the Radix network.
DeXian Staking Earning (DSE) platform offers users stable returns on their staked assets. By participating in the liquid staking pool, users can earn rewards without sacrificing liquidity or waiting for the unstaking period
DeXian Lending Protocol (DLP)
DeXian Protocol includes its own decentralized lending protocol called the DeXian Lending Protocol (DLP). DLP utilizes RadixDLT's Scrypto technology and implements algorithmic lending models to determine interest rates and provide efficient and flexible lending options. This feature allows users to lend their assets and earn returns on their holdings.
The platform offers delegation services, allowing users to delegate their tokens to validators on the Radix network. By delegating their tokens, users can actively participate in the consensus mechanism of the network and contribute to its security and operation.
These features and components of the DeXian Protocol platform provide users with a comprehensive ecosystem for staking, lending, and active participation on the Radix network.
The DeXian team comprises two main founders and five members, all of whom hail from the realms of computer technology and finance. The founders, Dust and Martin, bring a wealth of experience to the table. Dust, an early BTC enthusiast, has over a decade of experience in software development and has been deeply involved with projects like MakerDAO. Martin, on the other hand, holds an MSc in Finance from King's College London and has over three years of experience in the cryptocurrency and blockchain domain.
Unique Selling Proposition
While there are similarities between DSE and other platforms like Lido in terms of staking router, staking rewards distribution, and liquidity enhancement, DSE stands out due to its unique application scenarios and the differences between Radix and ETH in terms of network mechanisms.
Looking ahead, once Babylon and the native liquid stake go live, DSE plans to reimplement its services using Scrypto. This will allow any user to provide liquidity to the pool through the DSE protocol. Additionally, DeXian aims to further integrate the funding pool with the Lending Protocol, thereby diversifying the DeFi ecosystem and expanding the practical application scenarios of XRD.
DeXian Protocol emphasizes security and trust as crucial aspects of its platform. Here are some points highlighting the security measures and trustworthiness of DeXian Protocol:
DeXian Protocol undergoes thorough security audits conducted by reputable and independent third-party audit firms. These audits aim to identify vulnerabilities, ensure the platform's code quality, and enhance security measures.
DeXian Protocol promotes code transparency by making its smart contracts and codebase publicly accessible. This allows the community and security experts to review and verify the code, increasing trust and contributing to a more secure platform.
DeXian Protocol employs robust security measures and follows best practices to secure its infrastructure. This includes implementing encryption, multi-factor authentication, and regular security updates to protect user assets and data.
Community Trust and Reputation
DeXian Protocol values its community and strives to build trust through transparent communication, regular updates, and by being responsive to user feedback and concerns. The platform's reputation among users and the wider crypto community is an important factor in establishing trust.
The platform operates on decentralized networks like the Radix network, which is designed to ensure security through distributed consensus mechanisms. The decentralized nature reduces the risk associated with a single point of failure and increases resilience against attacks.