1250 STEEM ~ Sponsored Writing Contest: DigitexsteemCreated with Sketch.

in crypto •  3 months ago

Welcome to the @OriginalWorks sponsored writing contest!

Status: CLOSED

Accepted Languages:

  • English

Start Time: ~9 PM ET, Friday
End Time: ~9 PM ET, Tuesday

Special Twitter 0.5 STEEM bonus!

Details outlined at the bottom.

This is a call to all great Steemit writers! Digitex has sponsored a Steemit writing contest!

Please make sure to read the contest topic carefully. Good luck!

Prize Pool Total: 1250 STEEM

Prizes: 1000 STEEM + 250 STEEM (100 bonuses of 2.5 STEEM!) + Twitter Bonus (Details Below)

  • 1st Place: 80 STEEM
  • 2nd Place: 71 STEEM
  • 3rd Place: 68 STEEM
  • 4th Place: 63 STEEM
  • 5th Place: 52 STEEM
  • 6th Place: 47 STEEM
  • 7th Place: 44 STEEM
  • 8th Place: 41 STEEM
  • 9th Place: 38 STEEM
  • 10th Place: 34 STEEM
  • 11th Place: 31 STEEM
  • 12th Place: 29 STEEM
  • 13th Place: 28 STEEM
  • 14th Place: 26 STEEM
  • 15th Place: 23 STEEM
  • 16th - 20th: 15 STEEM
  • 21st - 25th: 12 STEEM
  • 26th - 30th: 10 STEEM
  • 31st - 40th: 8 STEEM
  • 41st - 50th: 6 STEEM
  • 51st - 150th: 2.5 STEEM Bonus

Deadline: 72 Hours

All articles must be submitted within 72 hours of this post to be considered!

Changes in submission rules below

What is Digitex Futures Exchange?

Digitex is the first, commission free Futures Exchange on the blockchain.

Digitex Futures Exchange is free of transaction fees.

That’s right. No transaction fees.

Some good questions may be:
How can an exchange be free?
How does it stay operational?
Who pays for maintenance?
Who makes the decisions?
How does this impact token price and economy?

One of the key details about the Digitex Futures Exchange is the operational cost of the exchange’s activities will be paid with the issuance and sale of new currency instead of charging a transaction fee on all contracts. The demand and market growth will more than compensate for inflationary cost of issuing new DGTX.


Source: Digitex Blog

Essentially, the users and holders of DGTX will decide how many new DGTX are issued to cover the operational expenses. The beauty of this system is that it will organically ensure that DGTX is well funded and operational.

It is in the best interest of every DGTX holders to:

  • Ensure that the Digitex Futures Exchange can continue operating.
  • Not create too much new currency to devalue their own holding.


Source: Digitex Blog

DGTX holders can vote on how many new DGTX are issued, or alternatively delegate their voting power to a trusted authority. DGTX holders are organically incentivized to find the perfect balance between a well-funded exchange as well as relatively low inflationary cost.

Decentralized Account Balances

Are you letting exchanges hold your funds hostage?

Digitex Futures Exchange does not hold your private key. This means that you can retain control over your assets. As history shows, there have been exchanges in the past that steal or lose user funds. With a decentralized account balance that possibility is completely mitigated.

Adam Todd, CEO

We want to decentralize account balances, and allow traders to be able to use our exchange in a lifetime trading environment.

What Are Futures?

Futures are a promise/contract to buy something at a specific date - a standardized asset or commodity (apples, oranges, etc), at a specific price.

Futures play a critical role in stabilizing naturally volatile markets such as commodities(prices could vary by season) and cryptocurrencies(prices could be impacted by regulations and market manipulations, etc).

Investopedia Definition:
"A futures contract is a legal agreement to buy or sell a particular commodity or asset at a predetermined price at a specified time in the future. Futures contracts are standardized for quality and quantity to facilitate trading on a futures exchange."

The Future of Futures with Digitex

DGTX will be a self-sustaining and growing economy. Free trades will attract more users, which will in turn increase DGTX liquidity as users purchase DGTX to continue using the Digitex Futures Exchange.

Digitex is in a unique position to take over the entire futures market with a clear advantage over other exchanges - no fees!


Source: Digitex Blog

It is self-evident that traders are rushing to the platform!

What About Existing Exchanges?

In a well defined and stable market, the margins are very thin. Unlike Digitex Futures Exchange, current exchanges have fees associated with trading futures contracts. On thin margins, these fees can easily make an otherwise profitable trader break-even or even a losing trader.


Source: Digitex WhitePaper, Page 23

The above fees comparison between BitMEX and Digitex Futures Exchange is a great showcase of how a trader will be affected by a fee free exchange alternative.

In the example above, the same trade on the Digitex Futures Exchange made 400% more return than an equal trade on BitMEX.

The exorbitant fees on BitMEX make it virtually unusable in comparison!

The Digitex Token (DGTX) Economy

DGTX are the very reason that the Digitex Futures Exchange will be able to offer commission free trading. Since all profits and losses are expressed in terms of DGTX, traders must own DGTX to take advantage of the commission free system.

This means that there will be a constant need for users to have DGTX tokens! This in turn ensures that DGTX are always in demand. Since the issuance of tokens are decided by the users they will be minimized to ensure that inflation is as low as possible while continuing to maintain a healthy operations fund.


Source: Digitex Blog

The costs associated with operating the Digitex Futures Exchange will be forecasted and estimated in a transparent manner that will ensure that the users understand how the budgeting estimates are determined as well as how the operational funds are spent!

Fundamentally Different: Digitex Futures Exchange VS BitMEX

Digitex Futures Exchange has numerous advantages of BitMEX:

  • No fees

No fees means that traders can apply low profit and low risk strategies and still be profitable without the fees eating away at their profits!

  • Decentralized business model (Users decide the cost of operation)

Instead of a business acting for the benefit of its bottom line, a decentralized vote based business model ensures that the Digitex Futures Exchange will always run at cost and to the benefit of its users!

Digitex Early Access & Steem Bounty!

Digitex already has an amazing program for users to get early access as well as participate in the community to earn tokens.

On top of that they are running a Steem Exclusive Bounty! where users can earn an extra 0.5 STEEM!

Join the Digitex Steem Bounty here!

For more information watch this short video!

More Information & Resources:

Submission

  • Write an article about Digitex and how it will change the way cryptousers interact with Futures! Why are fees problematic for users trading in Futures? How does creating a no-fee futures exchange allow users to gain more from their trades? With such a strong foundation and fast growth, where do you see Digitex in 2019, 2020, and 2021? How are trading fees killing trader profits? What is the impact of giving users the power and control over how the Digitex Futures Exchange is funded? What are some good use cases? There are many applications, so feel free to give a few! As always, the topic is fairly open-ended, so be creative!
  • To submit please do the following:
  1. Add the word "digitex2018" (without the quotes) at the very end of your article.
  2. Link this post in your submission.
  3. Post the link to your article as a reply to this post.
  4. Resteem this contest post.

Rules

  • The article must be at least 250 words in length and it is recommended(not mandatory) that the length is under ~1500 words.

  • At least 70% of the submission must be original. Using "article spinners", and other word substitution tools is also not permitted.

  • All copied text must be in quotes. Feel free to copy links to resources from the contest post, but please be sure to not copy from other contestants.

  • Please keep discussions relevant to the contest topic. We would like to encourage a good vibe in the comments!

Please note, any users caught copy pasting or word spinning material without clearly showing that they took the work from somewhere, such as using quotes, will have their submissions disqualified.

Video Bonus

  • Feel free to use images and media from their website. You can even make your own video and have it in your submission! Videos have a chance of winning a separate bonus based on quality. Videos should be uploaded to YouTube. DTube or IPFS. Please do not remove the videos, or it might impact future eligibility. Feel free to make a new YouTube account for these. We really wanted to use DTube, but sometimes the videos were not view-able at all. We may change this in again in the future. For the time being please ensure whatever service you choose to use is working.

Twitter Bonus

For the Twitter bonus:

  1. Tweet the link to your article on Twitter.
  2. Tweet should contain article link, mention @digitexfutures and #DGTX as well as one of the cryptocurrency related hashtags such as #blockchain, #crypto, etc
  3. Add the link to your tweet at the bottom of your competition Steemit post!
  4. At the end of your article, add the word "digitextwitter", without the quotes!

This is great because it will also encourage Twitter users to come join Steemit as well!

The bonus for this 0.5 Steem for every article that tweets and meets a level of quality and contest conditions.

How the winners are decided

The submissions will be passed along to the team at Digitex , and they will decide the best method for picking winners and the winning articles.

This can mean that the team judges the submissions, or they ask our team to judge it. Regardless of the method, the final say always lies with the sponsor.

More information & recommendations:

  • Pay attention to spelling and grammar!
  • Feel free to use informal language such as "I would, etc"
  • Use information and resources above to learn more about Digitex!
  • If you copy something, use quotes. This is an @OriginalWorks contest after all :)
  • Link the company's website: Digitex so that your readers can do research for themselves.
  • Articles can be edited up until the deadline.

After writing an article, within a few minutes you should get one of these as a response to your article post:

If you don't get one, let me know by adding a quick message after you submit your link as a reply here and it will be done manually. Sometimes it can take some time, so don't worry if it isn't instant! Rest assured, as long as your link is shared as a reply here, everything is double checked at contest close to ensure that all articles are submitted!

100 submissions will get 2.5 STEEM each. The article must meet the contest conditions such as word length and a level of quality.

Disclaimer: @OriginalWorks makes no claims as to the legitimacy or operating procedures of contest topics. @OriginalWorks does not offer any sort of investment advice. This is a writing contest. @OriginalWorks only guarantees prize payout. The contest topic company may choose to share the contest submissions that receive prizes. If for whatever reason there are over 500 submissions, new submissions will not be considered.

Good luck to all the contestants!

Authors get paid when people like you upvote their post.
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Thanks for great contest, i have resteem this post. Here my submission : https://steemit.com/contest/@khanza.aulia/digitex-the-future-exhange-with-free-transaction-fees-8b8ffbd286832est

thank yo so much :)

This kind of content is very good for us. Everyone's knowledge increases and benefits.

I am up with this amazing new contest, do wait for my entry, trying to hit no. 1 position, all the best to all contestant.

Great, another contest to improve our skills!

Thanks @originalworks for giving us another opportunity to write.

·

because I don't get your message to participate in the contest?

This is really Kool. I can't wait to get on this one. Thanks @originalworks for this opportunity.

The game begins again

Great. I'm join the this project @originalworks

What a good contest @originalworks! thanks for your support

My pen and book is ready to write,thanks @originlaworks

Like

Excellent. We at Steemit are grateful to Digitex and @originalworks for giving us the opportunity to participate in this new and good creative and writing contest. Greetings and Luck for all participants.

I would love to know intricacies of how this work. It sounds so good to me.

Resteemed!

A new challenge to start, thanks for this opportunity.

·

Amiga @maeugenia felicidades por tu premio.

This is huge amd tasking. The job you do here is out of this world @originalworks

Wow...too much excited to see it.

Excellent

Hi @originalworks! I just joined to Steemit two weeks ago, but I'll definitely try to take part in your contest!

Excellent @originalworks. I'm already exercising my fingers. :)

Thank you! I am going for the big prize, @originalworks!!

Another opportunity to Sharpen our writing skills and to keep us abreast with innovative projects on the blockchain.

All right, weekend job's here. I'm happy about that.

This is great. Am in for this

Thanks for this contest, I am already working on this project, I like to participate since I always learn something new about cryptocurrencies.

Thanks for the contest. Here is my entry:
https://steemit.com/crypto/@r-k-m/digitex
Note: Just started and I will complete it by deadline.

Hello and thanks for making this much better

I am ready to join this time

This is giving opportunity to us all! And thank you for the steem bonus!

Thanks @Originalworks for this contest

Another great proposal for the crypto world.
And of course it must be sponsored and powered by @originalworks!

Thanks for another contest @originalworks.

Thanks so much @originalworks for the steem you sent to me. I'm truly grateful.

Another great Contest. Its time to Work

Thank you for another contest.
Last time i didn't win any steem but this time I'll try my best. @orginalworks

Thanks The Originalworks team for another great opportunity to put creativity to action..

Aha
Another one
I hope to do better, so help me God.

Goodluck to other contestants

Nice one, another contest is up..!! Have missed for a while now but am glad to be back. Thanks @Originalworks :)

I do not really understand much about the subject but I will do my best

thanks for your post @originalworks

Hi @originalworks and @contestbot

I just hope that on this occasion the electric service will accompany me until I have finished and published my report, which will make me participate once again in your prestigious writing contest.

Thank you for the contest and a warm greeting from Venezuela!

I'm ready to take up this Very writing challange @originalworks Hyper ready!

Thanks @originalworks you guys are the bomb

great one new contest i will try to win this contest because i try to two week but i not got any prize and not got any Twitter bonus so i try well thanks for new contest

Thanks for the contest, this was fun. Good luck to the Digitex team.
Heres my entry: https://steemit.com/cryptocurrency/@jdrincs/digitex-the-exchange-of-the-future

Thanks for giving us this valuable information, it's not easy to communicate information to the community, and it's not easy to access these ideas, thank you again for this noble effort .

check my post

Challenge accepted!

Interesting exchange... Controlling the amount of assets you trade with the Digitex token you possesses. This will regulate and prevent assets owners from trading excessively. And Digitex token will definitely rise in demand. A great controlling trade factor!

grat job, I will participate this contest

Which tags are to be used for the submission of the article ?

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hello @originalworks, still haven't received a message from contestbot.

·

hey @originalworks.
I've not got the confirmation comment from @contestbot yet and there's not enough time till the deadline.
can you please check ?

i will try this contest

Felicitaciones y mucho exito a los participantes, un abrazo @originalworks.

Wao, this is nice. This is my first time getten on the contest, I think I need to showcase my talent, I so much support the project.
Thank you for sharing @originalworks

Posted using Partiko Android

Thanks @orignalworks for organizing this contest I will try my besy this time

because I don't get your message to participate in the contest?

I've got a question, this exchange shall be just for futures contracts? Or for all kind of trade?

Excellent one more contest that will allow us to learn more of the Blockchain ecosystem

Gracias @originalworks por excelente concurso! Desde ya trabajare en mi entrada. Espero que la energía eléctrica no se ausente. Saludos...

because I don't get your message to participate in the contest? plis

ABSTRACT
It is no secret that Crypto Currency Exchange in this decade has almost defeated Conventional BANK transactions. One of the things complained of by users is the amount of fees (fees) transactions taken by the service providers, both as money exchange institutions, and Exhange as a place for the transaction of Crypto Money. Now DIGITEXFutures is present as Bitcoin, Ethereum, and Litecoin Exchange Markets against the US dollar. DIGITEX will help you and increase your trading profit with Zero Trading Fees, Decentralized Accounts, and Decentralized Governance facilities.

INTRODUCTION
In the future, the growth of Crypto Currency transactions will continue to increase. Traders can make cost efficiencies and increase profits because the costs incurred when making transactions no longer exist. For now every transaction, both Bitcoin and the like, users complain of transaction costs that will reduce the margin they earn. Digitex as an exhange that has its own token that stands on Ethereum called the TOKEN DGTX. Traders can enjoy free transaction facilities and increase the profit they will get by exchanging their Tokens into DGTX Tokens in every transaction they make. This DGTX token will be published by DIGITEX parties democratically using the Decentralized Governance by Blockchain.

  1. Project Descriptions
    1.1 Commission-Free Futures Trading
    Traders in Utopian who have been hoping for free transactions will be real. Digitex Futures Exchange has made the ERC-223 Token on the Ethereum Blockchain (DGTX) which uses the profit as free of fees for trading transactions.

1.1.1 The Digitex Protocol Token (DGTX Token)
As already created in Whitepaper the heart of this Exhange is Token Protocol. in trading on the market the trader must have a DGTX balance that is sufficient to cover losses due to Digitex futures contracts as much as 1 DGTX Token, which means all losses and profits are denominated by this DGTX token.

1.1.3 DGTX Token Supply and Distribution
During the initial sales period, as many as 1 billion tokens will be available, 65% will be sale to the public, 20% into the market maker, and 10% will be allocated to Team and Advisor, and the remaining 5% will be distributed to referrals. At the time of initial presale tokens only released to the market as much as 90% of the total available and circulated.

1000M Total DGTX Supply

650M DGTX (65%) DGTX Token Sale
200M DGTX (20%) Digitex Market Makers
100M DGTX (10%) Team (current and future)
50M DGTX (5%) Referrals
1.1.4 Revenue Generating Token Issuance Starts in January 2021
After 2 years of launching a long-term plan in 2021 Digitex Futures will create again a new DGTX token with the aim of covering costs continuously in Exhange. The number of tokens made will be determined by the owners of DGTX tokens that have been circulating in the market based on voting.

IMG-20180819-WA0000.jpg

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@victormichu sorry, try to see someone else's post. who are told not to make a post on the comment line but your post link that you must put here

This project in a special way catches my attention. It looks very good...https://steemit.com/contest/@rosmilage/digitex-no-commissions-more-opportunities

hi i have already submitted my post but not got any confirmation i submitted yesterday this is my post: https://steemit.com/blockchain/@sumit71428/digitex-futures-exchange-have-a-look

Posted using Partiko Android

Wow great contest for stermit friends to improve our skills.... So thanks to organize contest.... @originalworks..!

Nice project.. I've got to try my hands out on this contest.. @originalworks You guys are trying a lot

I didn't know a new contest was up,didn't get a memo, finally am here,lets dig it

This is really great . I am getting knowledge with participating in contest .

https://steemit.com/originalworks/@annuji/originalworks-sponsored-writing-contest-on-digitex

Here is my contest entry, and by the way how will the miners benefit from this?
https://steemit.com/digitex2018/@harry4u/no-value-added-tax-with-digitex

Thats very nice and useful