Digitex Futures Exchange Platform - Zero Transaction Fees

Introduction

It can be said that within the last decade, cryptocurrency has given the conventional banking system a run for their money by creating a robust, fast, scalable and transparent way of carrying transactions; and cutting out the age-old middleman known as the banks. Now people have the power to send and receive funds at lightning speed without paying outrageous fees in commissions.

As cryptocurrency continues to grow, it is safe to assume that transactions too will increase significantly. And with this increase, traditional exchanges will continue to rip traders earnings, as traders will struggle to break even, as profits will be difficult to attain.

And this is the problem Digitex is solving, as its doing it by creating a commission-free exchange platform where traders can trade different cryptos without paying a penny in transaction fees. But for this trader's Utopian to become a reality, all transactions that will be carried out on the platform must be done with the Digitex local currency known as DGTX.

With the DGTX tokens, traders can carry out their various transactions on the Digitex exchange, without paying transaction fees, but new DGTX tokens will be minted periodically in order to cover the cost of running the Digitex Exchange.

DEFINITION OF TERMS

EXCHANGE - An exchange is a marketplace in which commodities, securities, derivatives and other forms of financial instruments are traded.

The major importance of an exchange is to ensure fair and regulated trading and efficient dissemination of prices information for any securities trading on that exchange.

FUTURES - These are contracts for assets bought at an agreed price but delivered and paid for a later date when the contract/trade finally expired.

TRADING - This is the act of exchanging or giving an item or a commodity or a derivative or any other financial instruments for money or other financial instruments or item or its equivalent.

FUTURES CONTRACTS - A futures contract is a legal agreement between two parties which sometimes is between an individual and an exchange, to buy or sell assets for it to be delivered on a later time in future.

This later time can be seconds, hours, days or months ahead. Futures contracts are techniques to hedge or protect positions and reduce the risk of the unknown.

Introducing DIGITEX

Digitex is a commission-free futures exchange where traders can trade futures contracts on the price of ETH/USD, BTC/USD, and LTC/USD without transaction fees. The zero negotiation fees combined with a high level of leverage and an intuitive one-touch trading interface allow traders to pursue high-volume, short-term trading strategies without being bogged down by high transaction fees.

The Digitex Futures Exchange does not charge transactions of commission fees from the traders that trade on their platform. Traders get to keep all their earnings, 100% of it all, but they must carry out all their transactions in Digitex local currency known as DGTX. And at periodic intervals, Digitex gets to mint new DGTX tokens, these will be used to cover up the operational cost of running the exchange, instead of charging traders to pay for the running of the exchange in transaction fees.

The Sustainability of the Platform

The strategy which allows Digitex to operate by itself without charging transaction fees consists of using the DGTX token as a way of generating resources to cover every single one of the project’s running cost. Since this token is the gateway to participating in the Digitex futures exchange, traders interested in this will acquire this tokens and will be presented with full access to the trading platform. This will ultimately create a demand for the token, as more traders will gravitate towards the exchange, and eventually, a self-sustaining economy with the DGTX token at its core.

It is important to note that what really pays the bills is the creation of new tokens, and after the ICO, new tokens will not be created until after the first 2 years. Meaning, that the project will run with the resources they generated during the ICO (which only lasted 17 minutes before all tokens were sold out) and after 2 years, the first set of DGTX tokens will be issued. This tokens will be sold to traders through smart contracts, and they can then use these DGTX tokens to trade, and the resources generated from the sales of this tokens will be used to cater for the operational cost of running the project.

This framework will enable crypto traders to have a new way of trading with futures, at no cost while also facilitating the development and maintenance of the exchange. Since DGTX tokens necessary, some users might have the need to protect themselves from any considerable price swing regarding its price, which is why Digitex can offer them a way to peg their DGTX tokens to the current price of Ethereum or Bitcoin and sell these tokens later through the use of a smart contract, tactfully applying traditional futures principles in the cryptocurrencies industry. The result of this will be an increase in the possibilities of trading strategies and general activities, making this market more robust, making it more attractive to both traders and investors alike.

Digitex Decentralized Governance

Still, on the concern of inflation that will be due to the creation of new DGTX tokens, everyone who possesses a DGTX token will have the right to be involved in the decision-making process of deciding the number of new DGTX tokens will be minted.

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The more DGTX holdings one owns, the stronger that individual's vote will be. It is in everyone's interest to locate the sweetspot between avoiding too much devaluation by creating too many tokens, and guaranteeing the project has enough resources to continue with its development in the best possible way, besides, given the fact that everyone involved will be able to participate and cast their votes based on what they think is the best, this will ensure that governance is fully decentralized and allow for the optimal efficiency of available funds to take place.

Important DGTX's Features

Here are the key hightlights of some of the features that will enable Digitex be successful.

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Use Case

Jacob is a crypto trader who possesses vast knowledge about the crypto market and always strive to stay abreast with the latest updates in the happenings in major projects. He keeps his ears close to the group to know what is happening, his motto is "Follow the news, trade the gossip"

The bear market came and Jacob becomes furious, what use to be a profit, is now break-even, and a break-even now can be considered a loss. Transactions fees are eating into his trade at an alarming rate, Jacob is both furious and scared, what happens to me now? with all, I have been able to achieve??

Luckily, being the informed person that he is, he discovered Digitex futures exchange by overlooking someone's phone while on the train heading home. What caught his eyes was "A commission-free futures exchange" and he quickly yanked out his phone googled it. He was blown away by what he found. Zero transaction fees, and ever since he uses the Digitex exchange platform for all his trades

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The Team

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Token Distribution

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Project Timeline

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More Resources

Digitex Website
Digitex WhitePaper
Digitex Blog
Digitex Telegram
Digitex Reddit
Digitex Facebook
Digitex Twitter
Digitex YouTube