Digitex - Commission Free Crypto Futures Trading

When the worlds of fintech and cryptocurrency collide – interesting things happen!

I think the first bitcoin futures were launched in December 2017 and as an evolution of this the team at Digitex are building the first commission-free futures exchange for Bitcoin, Ethereum and Litecoin. It will be made possible due to the creation of their own native cryptocurrency, the DGTX token, the first live demo of this application will be at the Malta Blockchain Conference on 1 and 2 November 2018 – so it is definitely something to watch with interest. (More on Malta below).

This project has to hit the mark right from the initial launch as cryptocurrency future traders will need absolute confidence in the system and this confidence is completely linked to liquidity – contracts have to be fulfilled otherwise traders will simply move to other providers. So how are the Digitex team working on building demand for the new type of exchange:

1. Building Anticipation with Marketing and Events

With nearly 150,000 early adopters registered on the waiting list – when the "exchange bell rings" for the first time in Q4 2018 – there is an anticipation of a high volume of trades providing instant liquidity and within the first few weeks gaining immediate customer confidence in the exchange. The launch is only happening after the Malta Blockchain Summit where there is a further opportunity to garner interest from the sector.

2. Commission-free exchange

A commission free exchange is not only unusual, but it is highly appealing! And it will especially appeal to high volume low margin traders who for the first time can deploy new strategies in the absence of fees. The commission free option is made possible by the fact that Digitex have minted their own native cryptocurrency, the DGTX token:

Transaction fees are eliminated on the Digitex Futures Exchange by creating an Ethereum based token, called the DGTX token, and using it as the native currency of the exchange. All profits, losses, margin requirements and account balances are denominated in DGTX tokens, meaning that traders must own DGTX tokens to participate in the commission-free, trustless markets on Digitex. This creates demand for DGTX tokens from traders, enabling the exchange to replace revenue generation from transaction fees by creating and selling a small number of new DGTX tokens each year. [Adam Todd, CEO https://www.digitexfutures.com/whitepaper/Digitex-Whitepaper.v.1.1.pdf).

3. Automated Market Makers

20% of all tokens in circulation (200M DGTX) are part of a trading bank used by automated trading bots that are programmed to break-even, they help to establish and maintain a completely liquid futures markets from day one and even in this volatile market can give traders the confidence of always being able to enter and exit their positions.

4. User Interface

The users of the platform will have the benefit of a simple screen which displays the futures on an intuitive “ladder” such that traders can place orders instantly with a single click. More from the white paper:

“With minimal mouse movement and without needing the keyboard, traders never need to take their eyes from the price action. Bids and offers move up and down a central price ladder that allows traders to visualize the market as the price literally moves up and down”

The DGTX token sale was a massive success – selling all the tokens for Ethereum valued at $5.2m dollars in 17 minutes in mid January 2018. Collectively there were 2,530 buyers but 10,000 hopeful buyers had to be refunded as there were no more DGTX tokens to sell. Sounds like it was potentially oversubscribed by five times and could have generated much more initial capital – which would have been useful to the project given the cryptocurrency valuations have slid since Jan 2018!

The project is going to run with the resources from this funding round for the first two years and after this point newly created tokens created will be sold to fund the project.

This project certainly sounds like one to watch: and for those interested in learning more about the first live demo taking places in Malta you can read more on this topic from the digitex press release [here https://blog.digitexfutures.com/digitex-futures/digitex-to-present-keynote-demo-futures-exchange-at-malta-blockchain-summit/) and also directly at the Conference website: https://maltablockchainsummit.com/ where you can also read about the 100,000 ICO Pitch Battle!

Go Join the Waitlist for digitex and be part of the early adopter wave [here](https://digitexfutures.com/get-early-access/?kid=RT84R) – just a single email is required at the first hurdle.

Further Information on the interesting project can be found in various places:

Project Website: http://digitexfutures.com

Project Whitepaper: https://www.digitexfutures.com/whitepaper/Digitex-Whitepaper.v.1.1.pdf

Twitter: @digitexfutures

Facebook: @digitexfutures

Telegram https://t.me/digitexfutureschat

Reddit https://www.reddit.com/r/DigitexFutures/

The information contained within this post shall not be taken as financial advice. I am not a financial advisor and none of your investment decisions should be carried out based on any information presented here. You can lose all of your money by investing. The information presented in this article is for educational and entertainment purposes only.