DIGITEX: A COMMISSION FREE EXCHANGE

prextix (47)in #dgtx • 6 years ago (edited)

INTRODUCTION

One of the most vital prospect in the cryptocurrency future market is the room given to traders to trade on prices just like valuables like bitcoin, gold etc. without the high costs and risk for the transaction of instrument on whose price they are trading on.

Due to liquidity provided by active traders, a small inflationary cost is levied on all holders of the (DGTX)(digitexfutures.com) to create more demands on the DGTX tokens for traders which would be far greater than the cost of funding the exchange.

Digitex being trustless in the market will boost or enhance liquidity more because account balances of trader are not held by the digitex exchange but a decentralized , independent smart contract on the Ethereum blockchain which only the DGTX holder holds his/her private key to the wallet. The Digitex Futures Exchange entails the current balance of a trader, margin liabilities and also involves trading profits/losses making it a trustless future trading.

In the creation of the Digitex Futures Exchange(DGTX) digitexfutures.com token which will serve as a native currency on the Ethereum Blockchain, all profits , losses, margin liabilities and account balance are dominated bringing about the elimination of transaction fees on traders , covering all cost in creating a new token instead of incurring transaction fees on traders.

What is Digitex?

Why engage yourself in a low transaction cost when has brought Digitex Futures Exchange to your door-step.
Digitex futures is a commission free exchange for trading bitcoin, Ethereum and Litecoin using the DGTX token.

The Digitex(DGTX) token is a smart contract created on the Ethereum Blockchain which plays a role in the elimination of transaction fee(Zero Transaction Fee) on the Digitex Futures Exchange denominated by profit, losses, margin requirement and account balances on the exchange for the creation and sales of DGTX tokens each year.

DESCRIPTION OF TOKEN

Ticker: [DGTX](digitexfutures.com]
Profits and Losses are denominated in The Digitex Futures Exchange
Account Balance of Digitex Futures Exchange are held by decentralized smart contracts
Initial supply – 1 billion DGTX

• 650M DGTX (65%) DGTX Token Sale • 200M DGTX (20%) Digitex Market Makers • 100M DGTX (10%) Team (current and future) • 50M DGTX (5%) Referrals

Why trading fees are one of the major problems in futures?

“Despite lower costs, transaction fees are still significant on high volume, low profit margin futures trading strategies”
They act as a massive brake on the potential liquidity of futures market by converting marginally profitable strategies into losing strategies after commission.

How does creating a no-fee futures exchange allow users to gain more from their traders?

Like I said, The Digitex Futures Exchange will cover all cost in creating new DGTX digitexfutures.com token and also the cost of operation like; Marketing, Software Development, Servers, Staff, Premises and lots more.

Though the decentralized Governance By Blockchain, voting would be conducted for traders to know how many tokens or the amount of token to be created to cover projected costs. As the DGTX digitexfutures.com tokens are created, buyers will have to send any amount of Ethereum (ETH) equivalent to the amount of digitex needed to the smart Contract Address. As the Ethereum is sent to the contract address, the DGTX token is sent instantly to the respective wallet.

"The greater the demand DGTX tokens , the higher the price of DTGX and less token to be created to cover projected costs."

USE CASE

Due to FOMO, Ade certain coin keeps on rising fastly, Ade bought some of the coins at a certain price (let's say 2000 of the coin at $20,000), the price of the coin kept on rising as buying continues.
Due to the price being pumped so high, Ade decides to sell a certain amount of the coin to yield profit (let's say, he sold 2000 contracts at $22,000)
Lets assume, the tick size of the coin he traded in is $10, based on calculation, Ade made a whooping profit of 400 tick size on the 2000 contract position which is equivalent to 800000 tickets profit
If the DGTX is to be sold at market price (let's say $0.01), Ade's profit will be 800,000 DGTX×0.01=80,000.
IMAGINE Ade initial margin requirement to open trade was 80,000DGTX. The account balance will be held by the decentralized smart contract where there are zero transactions fees on all trades, so from point of view, the profit is made without any deduction unlike other exchanges like bitex, gdaxetc who make deductions of Transaction fee.

Advantages of DIGITEX over BITMEX

No transaction fee.
Decentralised business Model.

BENEFITS OF THE DIGITEX FUTURES EXCHANGE

Zero transaction fee
In here, Traders are meant to submit a maker order or a taker order at any time and pay a zero percent commission fee on all trades. There are no transaction fee of any kind on The Digitex Futures Exchange.
Decentralized Account Balance
Digitex being a trustless future trading promotes liquidity and your account balance are held by a decentralized independent smart contract on the ethereum blockchain and also trading profits/losses.
High Liquid Futures Markets
Due to elimination of transaction fee, high liquid market is attained because traders will engage in high volumes and single tick trading strategies due to commission. Liquidity is mostly enhanced or boosted by 20% DGTX holders which are “THE DIGITEX MARKET MAKER”
Automated Market Maker
These are bots which are programmed to break even in making active trading strategy create liquid future market. It gives traders more confidence in investing and exiting position which enhance liquidity.
Digitex Native Currency
The tick value of each the digitex futures market(DGTX) is 1 DGTX meaning all trading profits and losses are denominated in DGTX tokens.
Therefore, traders must own DGTX token in order to trade in a commission free trustless market.
Bitcoin, Ethereum And Litecoin Futures
The Digitex Future Exchange as three(3) major futures: BTC/USD, ETH/USD and LTC/USD.
Digitex will allow prices of all futures be displayed in a one click ladder style trading interface.

High Leverage And No Auto Deleveraging
In the digitex future market, traders are offered up to 100x leverage for them to realize large profits(or losses). Digitex does not cancel your winning trade to protect themselves from losses caused by highly leveraged trading.

Decentralized Governance By Blockchain
In here, traders are allowed to stakes votes, to know how many tokens are to be created to cover cost of operation of future exchange.

Other functions are: