The Time for Commissions-Free Futures Trading has Came. Meet the Gamechanger -DIGITEX-
Getting into the context
A futures exchange or futures market is a central financial exchange where people can trade standardized futures contracts; that is, a contract to buy specific quantities of a commodity or financial instrument at a specified price with delivery set at a specified time in the future
Futures Markets allow traders the opportunity to negotiate without the risks of transferring, storing and paying the full price of the Instrument they are trading. Futures Markets also allow traders to negotiate without having to pay the high costs of the objects. However, there is currently a great problem in the Futures Markets, since the transaction fees are exaggeratedly high. This is a big obstacle on the potential liquidity of futures markets, by converting marginally profitable strategies into losing strategies after commission.
Practically the profit that traders obtain due to the strategies of the traders in the Futures Markets is lost with the high rate that they must pay in commissions. Currently, traders who provide liquidity to the system are penalized.
This situation has to change, there must be a system able to increase the advantages of the Futures Markets and diminish its disadvantages. THE TIME FOR COMMISSION-FREE TRADING IS RIGHT NOW. the futures trader's Utopia of a commission-free exchange is no longer a dream. DIGITEX WILL BE THE ONE WHO MAKES THE UTOPIA A REALITY.
Digitex's Introduction
Digitex Futures Exchange will establish a new and revolutionary system for all futures exchanges. Digitex has its native currency the DGTX, implemented on the Ethereum platform, with the ECR-223 protocol.
Digitex will not keep the private keys nor the physical funds, Digitex will keep updated and inform to the smart contract the changes on the balance of the traders' accounts (traders' outstanding margin liabilities and trading results).
The Futures Exchange is what gives value and utility to the DGTX token, creating an ecosystem within futures markets with a high volume of liquidity, while commission fee disappears. If any user wants to participate in this incredible ecosystem, he should simply buy the DGTX tokens.
If traders wish to participate in commission-free, trustless markets on Digitex, they must own DGTX. Therefore, there will be high demand for the tokens, and a small number of DGTX token can be created and sold each year. Thus, enabling the exchange to replace revenue generation from transaction fees.
The demand of the DGTX will depend on the volume of transactions generated by the traders within Digitex, it is expected that this order of magnitude will be larger than the token issued during this same demand.
Digitex generates
a small inflationary cost on all token holders on the understanding that commission-free and liquid markets will create demand for the DGTX token from traders that is greater than the inflationary cost of funding the exchange.
After the launch of the Digitex Futures Exchange, no new tokens will be issued for 2 years. The operating costs for the exchange will be covered by the income obtained from the DGTX ICO.
It should be noted that Digitex's ICO sold out in 17 minutes, raised more than $ 5.4m from 2,530 buyers.
It is very likely that the Digitex Futures Markets during these 2 years will increase, so those new users who wish to enter this system will compete with each other to buy a limited number of tokens. This will cause a considerable increase in demand, so the inflation of the first token creation event will decrease. At the beginning of 2021, it is expected to issue more tokens again to cover operating costs (software development, servers, premises, personnel, etc) on the Digitex platform.
The decentralized Governance of Digitex, is composed of all the owners of the DGTX token, which will collectively decide how and how many tokens will be issued, in order to pay the operational expenses for the proper functioning of the exchange.
Depending on the projected costs and the current price of DGTX, the Traders are in charge of deciding (by vote) how many and when the issuance of new tokens will occur. The power of each trader vote is equal to the number of tokens they have within Decentralized Governance Blockchain, 1 vote is equal to 1 DGTX, 1 DGTX = 1 Vote.
The tokens will be created through an auditable and public smart contract. The buyers will send ETH to an address of the Smart Contact and automatically they will receive the correct amount of DGTX. Of course, there will be a minimum and maximum limit funding cap.
With the Digitex token, futures contracts can be bought and sold. Then the Traders must have a margin balance of DGTX.
Buying and selling DGTX tokens should be as simple as possible, free and fast. So, traders must be able to handle large volumes (or few) of futures contracts to exchange them for DGTX without any impediment or commission. Buy DGTX is useful for several types of users. For example, for those who wish to keep their DGTX long-term, and for those who wish to have it only in a period of time and then change it again in BTC or ETH as soon as they close their positions.
Some Features
- Digitex Futures Exchange has its own currency called DGTX token. Thus, if traders want trade on Digitex'scommission-free, and trustless futures markets they must have DGTX tokens.
- In Digitex Futures Exchange there is no type of commission per transaction, it is designed so that commerce without commissions is totally sustainable over time.
- By eliminating commissions for transactions, traders are motivated to perform high volume commercial strategies. Obtaining a highly liquid market.
- Digitex has 3 futures market, Bitcoin, Ethereum and Litecoin: BTC / USD, ETH / USD and LTC / USD. The token values of futures contracts are denominated in all gains and losses are settled in DGTX tokens.
- Digitex offers an intuitive, a ladder trading simple and easy-to-use interface. They allow to observe when Bids and offers move up and down to central price ladder. So the traders can submit buy and sell orders instantly with a single click.
- Digitex does not have any private key that allows access to users' tokens. So Digitex can not freeze, confiscate, or manage the DGTX tokens of the traders. In addition, in the event of an unlikely hack on the Digitex platform, hackers will not be able to obtain any fund from the users, since Digitex does not have the keys of their wallets. The balance of their account is maintained in a decentralized and independent smart contract in the Ethereum blockchain.
- "A tick is the minimum price increment that a futures contract can move up or down". Digitex have a larger tick size friendly interface where the price does not constantly disappear from the top of the page and off the bottom of the page.
- Digitex futures markets offer traders very high leverage (100 times). Also allowing them to realize large percentage gains (and losses) from relatively small movements.
- "Digitex will not close any trader out of a winning position to protect itself from losses when the counterparty's losing trade is stopped because it was too highly leveraged". Unlike other Bitcoin futures exchanges.
- Digitex use the Erlang / OTP stack (same as Whatsapp) programming language. By using this language it allows the trading interface to update the prices in real time. It also allows high scalability, The exchange can reach millions of users.
- Digitex offers speed in execution and security in deposits. Digitex is the perfect combination of speed, confidence and security. Digitex brings together the speed and reliability of centralized servers and trustless security of decentralized smart contracts.
- Digitex has a Decentralized Government, where all traders holding DGTX tokens decide when and how many new tokens are generated on the platform.
- Traders can start using Digitex without the need to enter their personal identification or any document that may compromise the trader. Digitex don't promote standards that interfere with the user's privacy.
- The main idea behind cryptocurrencies is that people can have real control over their money. That is what makes this technology a new economic paradigm of the world. Digitex has the driven of blockchain technology, evolving the current futures exchange schemes.
- Traders want to trade in highly liquid markets."Digitex market makers are automated trading bots with algorithms that are programmed to break even". Digitex has a large commercial bank of 20% of all DGTX tokens. This ensures that a large number of tokens are actively used for trading.
Digitex prepared for all scenarios. Projections and Token Supply-Distribution
Projections
The DGTX token price will be directly proportional to the market demand for these tokens. Some hypothetical scenarios that will have an effect on the value or price of the DGTX are:
- 2% of traders are whales who buy a total of $150,000 USD worth of DGTX tokens over a 2 year period.
- 10% of traders are medium sized traders who buy a total of $15,000 USD worth of DGTX tokens over a 2 year period.
- 88% of traders are small traders who buy a total of $1,500 USD worth of DGTX tokens over a 2 year period.
The projected DGTX price is calculated with a simplified assumption method (so there are some factors that are probably not being taken into consideration). The price is calculated as follows: P=(D/A)+F.
P: DGTX Token price projections
D: Total dollar amount that traders purchase in the 2 years following launch
A: Total available supply of DGTX tokens
F: Amount to the price of DGTX tokens at the end DGTX token sale
It should be noted that this relationship is assumed in a standard hypothetical case where the market does not suffer a crash in crypto prices or a bull market.
Below are the most likely projections:
In addition, if the price is as indicated in table 1, table 2 shows how many tokens must be issued to cover 1 year of operations after January 2021.
In the worst case, there is a registry of 1000 new traders (price of DGTX in $ 0.02) The effect of a 5% inflation rate on the DGTX price of $ 0.02 will be negligible. While in the best of cases, a record of 50000 traders is expected (price of DGTX at $ 0.43)
Token Protocol and Supply-Distribution
With Digitex the owners of the DGTX tokens will be able to buy and sell liquid futures contracts facing the price of Bitcoin, Ethereum and Litecoin against the US Dollars. And best of all without any TRADE FEE.
As seen only 700M are available to buy and sell. The rest is locked up by the Digitex market makers and the founding team.
Use-Case
Moises is a short-term trader, he follows Ethereum, Bitcoin and Litecoin trends to perform his futures trades. He is very clever in futures trading strategies, but he always has to cut profits in form of commissions that all the current exchanges charge on his tradings. Frequently Moises uses BitMEX and CryptoFacilities to trade futures contracts.
He had been a little frustrated because despite him being an excellent traders, his profit is relatively low compared with the potential that his positions would have gave him if it now were by the high commissions he has to pay.
Moises knows the when Ethereum changes to Casper protocol, a big pump is expected on the ETH/USD pair. But he is tired of fighting against the generalized trend on the current futures exchanges that hinders his most profitable strategy (high volumes, low margin trades).
Moises' friend, Angel, recommend a wonderful platform, a revolutionary Futures Exchange, where ALL THE TRADES ARE COMMISSION-FREE because of the new brand business model leveraged on their own native token DGTX. Angel spokes to him about Digitex, the best futures exchange for short-term traders. Moises has been introduced with his Holy Grail. Now Moises can buy futures contracts on ETH price against USD, with just a few clicks of the mouse. Finally, he is able to fully profit from his most successful strategy and decides to also invest in DGTX for the long term.
Conclusions
Digitex is the new Futures Exchange system. A market free of commissions will allow futures markets to be highly liquid. Attracting heavy investment and new short-term traders. Behind the structure of Digitex, the Decentralized Governance by Blockchain (DGBB) is enforced by the same DGTX holders, providing higher levels of decentralization.
Why trust Digitex? Well, Digitex have spread like wildfire, Digitex's ICO ran out in 17 minutes, raised more than $ 5.4m from 2,530 buyers, with these resources, they've allocated resources to join together the best team and creating the best system.
While the cryptos have suffered a dump in 2018, DGTX has gained value, this is because the launch will be made in a short time and many investors and others bet that Digitex will make a game changer. Also in the third week of August became Coinmarmarketcap's third biggest gainer with a percentage jump of 272.63%. Digitex is gathering more and more followers on social media and its Telegram group. Early Access Waitlist hit 100K this week-and keeps on growing. Digitex Futures Exchange is going to be one of the very first live apps to incorporate Plasma technology into their trading exchange. By using Plasma sidechains, they can operate without any scalability issues.
Undoubtedly Digitex has grown and continues to grow, the high demand within this ecosystem will be the key to its success. The right time to get involved with this project IS NOW!
Join
A commission-free futures exchange with its own native cryptocurrency, the DGTX token
Roadmap
Some videos about the project
Digitex Team
For more information and resources
DIGITEX social media channels
Here is the link to my tweet about DIGITEX
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