From what I understand, the fade is not a realm or another world, the Fade is present everywhere. It mirrors the real world, so enter the Fade from the location of a castle and you get a twisted version of that castle created by demons and spirits. When a mage crosses the Veil they do not pass a gate, it's just a change in perspective, he/she just starts to see things as the spirits do. So the Fade is here, just phased out. Dreamers are found in the Fade but not dwarves or qunari. There are qunari mages though and all mages draw power from the Fade. No dwarf mages.
That was just to get some things clear, correct me if I'm wrong about them.
Now, some speculation on the Fade's origin:
1) The Fade may not be a natural phenomenon in Thedas, if it were then all races would be affected in similar ways. The races are not that different, they're all humanoids.
2) The fade was created by someone, the purpose was the Black City - a domain of sorts, outside the reach of most mortals.
3) Some ancient primeval magic was used to create the Fade, and it is still present in the Black City. The magisters did go there and as Corypheus says it was dark and corrupt. The taint spreads from there. Darkspawn emissaries have tainted magic that is different from any normal magic (well, at least in the lore, in game they also have fireballs and stuff). Tainted blood also has powers never before seen, not even by demons. Avernus proves that.
4) The spirits and demons were not created, they are a side effect. Manifestations of people from the real world, their rage, pride, desire, faith, fortitude, their sense of justice and so on.
5) The Fade was bound to the races of humans and elves, and it draws it's power from their lifeline. Humans and elves are the only ones who enter as dreamers because of this connection, other races enter only forced.
*Note that I have not played Inquisition, if any reveal from the new game contradicts my theories, post it here, I do not care about the spoilers.
Speculations for everybody!





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