DAEX is an open and decentralized clearing ecosystem for cryptocurrencies and a bridge that connects cryptocurrency trading exchanges. It also serves as a reliable custodian of mutiple crypto assets. Clearing and settlement rules are preprogrammed into clearing smart contracts on the DAEX clearing chain. The clearing process is automatic without people’ s interference. The objectivity of clearing is guaranteed by the consensus mechanism on the clearing chain. Also, customers’ digital assets are registered and stored on the DAEX’ s clearing chain. No other institutions or individuals can access these assets without the owner’ s permission.