The DeXe token (DEXE) claims to enable the open and permissionless system. Following protocol rules and contributing resources facilitates consensus between participants. The token has two vital functions:
(1) Automatic buyback and distribution among insurance vault, farming rewards among token holders and burning of tokens for a % of traders’ rewards.
(2) Participation in DeXe DAO. It is not required to be a DEXE token holder to participate in DeXe.network and benefit from the several of its social trading functions. Moreover, DeXe is uploading DEXE smart contract into the open-source community which is free speech and is the fundamental tenants of its Memorandum. However, in order to be able to fully participate in the community, receive the voting right, contribute through proposals and benefit from the incentives inside the network, basically, to become the member of DAO, users are required to acquire DEXE.