Digitex: The commission-free futures exchange

jenifer2 (46)in #crypto • 6 years ago (edited)

Introduction

A financial future is a purchase-sale operation that consists of determining the conditions today but postponing the actual execution of the operation at another time (also perfectly defined) in the future.

The buyer of a future contract has the obligation to purchase the corresponding asset (stocks, commodities, etc.) on the due date, and the seller of that future contract has the obligation to deliver the asset to the buyer in said future. due date.

For example, 2 investors can agree to buy / sell 100 steem on 1-2-2018 at a price of 1 dollar by buying / selling 1 future contract, but the operation will actually run 2-3-2018, that will be when the buyer disburses the money (100 dollars = 1 x 100) and the seller delivers the 100 steem. 1 futures contract on shares represents 100 shares, except for temporary exceptions due to capital increases or other corporate operations that affect the company's capital stock.

This type of contract has its history since the nineteenth century when pacts were generated for future seeds advance payments before the harvest, in these times is widely used worldwide on a variety of assets including cryptocurrencies but generate commissions that they hold back investors, on the other hand no such platform has entered the blockchain to use this technology in favor of the market.

HOW DIGITEX WORKS

The crypto futures trade allow users to predict coming price of a crypto asset at a specific time. The most important benefit of Digitex is the elimination of transaction fees. This is made possible by creating DGTX, an Ethereum–based token of its own instead of charging transaction fees. In order to enjoy or benefit from this commission-free exchange, users must constantly own DGTX tokens, which increases the demand of this token.

Since the right and authority to determine the amount of DGTX to be issued is retained by users, they vote issuance of the token in such a way that must reduce price inflation at all cost.

What benefit does Digitex have, that others do not have?

Decentralization is a fundamental factor in the platform that works for large masses of people, being able to feel safe in the sense of how it is handled and making decisions in this type of platform is what is causing large movements to migrate to the blockchain

It is not minor theme to have a decentralized exchange that generates security of future functionality, you are managing all our assets in these systems and we want to be sure that governance is not in the hands of the few, I feel safe in a mass of people in which we all participate and together we go to a safe harbor

Taking into account the main point of advantage in my opinion, I go to the second very important point, the commissions for transactions, because in this future market the profit margins and even losses can be narrow in many cases, adding to this the commission for transactions which makes it very unattractive to conclude a contract of this type, eliminating the commission factor generates a more pleasant point of view on the subject, it even protects both parties in a certain way that they feel more secure at the time to conclude the contract

It is also a system of decentralized exchange which is governed by the users themselves so in this model always the balance seeks to provide greater benefit to people and not the company itsel

Digitex Commission-Free Futures Trading

Digitex Futures Exchange has distinguished itself by identifying with the pressure point of most crypto trader - incessant transaction fees they pay to conventional exchanges platform. And to buttress this challenge, Digitex Futures Exchange was created, where users and crypto traders can trade for free. This will be made possible by the creation of an ERC - 223 compatible protocol token, being built on the Ethereum blockchain, known as DGTX token. Free trades with zero transaction fees will attract more users to the platform, which will multiply DGTX liquidity as users purchase DGTX which will serve as the native currency with which losses, profits, account balances will be expressed.

The Digitex Futures Exchange will remove transaction fees on all trades, the cost of trading will be covered by the creation of new tokens instead of charging fees. There will be a little inflation cost when creating new tokens, which will be offset by the demand of the DGTX tokens, as traders on the Digitex Futures Exchange will need to purchase the DGTX tokens in order to trade on the exchange for free.

New tokens will not be issued for the purpose of generating revenue for an approximated 2 year period, after the launch of the Digitex Futures Exchange. This is because the cost of running the exchange will be covered by the proceeds of the DGTX ICO. During this 2 year period, trading volumes, and new user registration is forecasted to rise sharply, new traders will compete to buy the limited number of available DGTX tokens, making the token more valuable. The price increase of the DGTX token which is as a result of the swift increase in demand will reduce the inflationary impact for the first set of tokens to be created.

At the start of 2021, the first set of DGTX tokens will be created by Digitex this will be in order to cover the cost of operations, such as servers, software development, staff, marketing and support, premise and all other costs. Based on projected cost, as well as the price of DGTX, traders will vote on the number of DGTX tokens to be created in order to cover the projected costs. Voting will be done via Decentralized Governance by Blockchain, where 1 DGTX = 1 vote.

THE DIGITEX TOKEN (DGTX)

The Digitex token is an ERC-223 compatible token. The main purpose for creating the token is to ensure that Digitex stays operational by its sales. Only users who purchase the tokens can enjoy the commission free exchange services offered by Digitex.

All account balances on Digitex will be denominated using the DGTX token.
It can be exchanged with other cryptocurrency such as BTC and ETH.

Another use of the tokens is to give token holders the feel of democracy on Digitex. The token holders will be able to vote on how much token they want to be created and when they would want it created.

Creation these tokens will be done by a fully audited smart contract. The intending buyer sends ETH to the smart contract and automatically, he receives the DGTX token equivalent.

it should be noted that the ICO of Digitex tokens will take care of operational cost for the next two years. Therefore for the next 2years there would be no token creation.