CokeDao is a decentralized autonomous organization (DAO) that operates and manages the BitCoke Exchange, CokeDex (Decentralized Derivatives Exchange), BitCoke ecosystem and investment. As CokeDao's governance token, Coke holders can use the management portal (expected to go live in 2022) to express opinions, submit and vote on motions, to decide on the operation and development of CokeDao projects.
The BitCoke Exchange is currently managed by the BitCoke team, and as its development embarks on a fast track and projects like the decentralized derivatives exchange CokeDex enter development phase, we recognize the deficiency of a centralized organizational structure. Therefore, with the help of community users and institutional partners, we hope to gradually adopt a decentralized architecture to manage all BitCoke projects through the release of COKE tokens, and promote the development and prosperity of the entire BitCoke ecosystem through the CokeDao governance, so as to practice the blockchain principle, namely community involvement, openness and mutual trust.
As the crypto industry booms, more and more people are embracing equal access, trustless, onchain trading methods, which allows users to take full control of their assets at all times. Uniswap, the most popular Dex, usheres in an era of decentralized exchange for crypto assets by introducing AMM (automated market maker) machanism, and ever since its inception, there have been a great number of decentralized exchanges based on AMM or with upgraded solutions.
While the derivative market is much bigger than the spot market in volume, users around the world still rely heavily on centralized exchanges (CEX) for margin, future or option trading. Compared with spot trading, derivative trading inherently entails shorter latency and settlement time , and users are fairly sensitive to slippage, liquidity depth, which post a serious technical challenge in the general trend toward decentralized derivative trading.
