Digitex City

Digitex City – What Happened and Where We’re Going from Here

Digitex City
• admin
December 23, 2020

There have understandably been a lot of questions and complaints about our recent launch. In this video, Adam takes ownership of the problem, and even recognizes that it was a “disaster.” Without making excuses, he explains what went wrong and why and, more importantly, how we plan to fix it and move on from here. 

Digitex City – What Went Wrong

So, what went wrong with the launch of Digitex City? Adam starts out by reiterating that there are no problems with SmartDec or their development ability. However, the launch of Digitex City was hampered by a poor workflow thrust upon us because of the pandemic. He explains that COVID forced the developers to work remotely and that he was unable to physically be by their side. This was made worse by an eight-hour time difference separating them.

We were able to launch our powerhouse bitcoin futures exchange Digitex Futures because Adam was in Moscow building his vision alongside the developers. With Digitex City, Adam admits that he asked SmartDec to launch it in half the time they wanted – and with multiple additional features added all the time. 

They accepted the challenge, but the remote situation caused by the pandemic made it very difficult. Adam couldn’t go to Moscow, the developers couldn’t get together in the same room, and, well, this is the result. Adam admits that he did not know the product was in such bad shape beforehand as SmartDec was confident that it would be ready in time. Unfortunately, they simply couldn’t deliver under the circumstances.

Adam accepts that we had a bad workflow and built a sub-par product that we placed on the testnet. However, he’s not even happy having it on the testnet as there are too many flaws and the quality is not there. So, that’s what went wrong. What are we going to do from here?

Take it Down from the Testnet

Adam says that the product simply isn’t good and we will be taking it off the testnet. He also realizes that we went about things the wrong way when trying to build Digitex City. We should never have tried to build a new exchange from scratch when we already had a bullet-proof and robust BTC futures platform that we could have built on.

Therefore, we will be making incremental improvements to our existing exchange moving forward. As Adam points out, it’s a great product, our $5 BTC market is very popular with high liquidity, and, with so much volatility and interest in bitcoin right now, it’s a great time to promote a BTC futures exchange–especially one with no commissions.

He says that we are going to be laser-focused moving forward and actually remove all the other markets for the time being to focus all the liquidity on our $5 BTC market. 

The Rebrand to Digitex City

Adam confirms that the rebrand will still go ahead and that we will still be realizing the Trade, Play, Connect concept. However, we will be doing it at a realistic pace. He also points out that we already have the Trade area to build on and we have also launched the Connect social platform. He admits that this is not perfect yet, but that we are improving it and will start heavily promoting it once it is completely ready.

We will also continue to develop the Play area with developers that are specialized in building casinos, games, and the eSports betting platform so that SmartDec can focus on the Trade area. We can also roll out products faster this way without development flaws using customizable white label solutions that we can be confident in without “reinventing the wheel.”

As far as the native currency of the exchange, for the time being, that will remain as DGTX. The DUSD solution has not been “canned.” However, it is not ready yet. So, in the meantime, the DGTX token remains king and will be the utility token for the exchange as well as the other areas of Digitex City as we roll them out.

Adam apologizes again for what happened, he also recognizes his silence over the last few days. He says that he was deeply focusing on how to fix the problem and where to go next. But, remaining positive, we still have a fantastic team, with SmartDec, the Kiev creatives, and world class support. Unfortunately, we simply got this one wrong and will learn from it and move forward.

Don’t Believe the FUDers

Adam spends some time talking about the group of FUDers on Telegram that continuously try to call Adam out as a scammer. Don’t believe them. Adam isn’t going anywhere. If you have learned anything by now, it’s that he doesn’t quit. He says, “If you think I’m quitting now, you really haven’t been paying attention.”

We have made mistakes but there is a plan and we have a solid team behind it. From here on in, we will stop talking about the products that are going to come and focus all our energy on the product that we have–a one-click rapid-fire trading ladder with zero fees that’s really fun to use. Thank you for sticking with us, we truly appreciate your continued support.

December 23, 2020
Digitex City

Digitex City – What Happened and Where We’re Going from Here

admin
Digitex City

There have understandably been a lot of questions and complaints about our recent launch. In this video, Adam takes ownership of the problem, and even recognizes that it was a “disaster.” Without making excuses, he explains what went wrong and why and, more importantly, how we plan to fix it and move on from here. 

Digitex City – What Went Wrong

So, what went wrong with the launch of Digitex City? Adam starts out by reiterating that there are no problems with SmartDec or their development ability. However, the launch of Digitex City was hampered by a poor workflow thrust upon us because of the pandemic. He explains that COVID forced the developers to work remotely and that he was unable to physically be by their side. This was made worse by an eight-hour time difference separating them.

We were able to launch our powerhouse bitcoin futures exchange Digitex Futures because Adam was in Moscow building his vision alongside the developers. With Digitex City, Adam admits that he asked SmartDec to launch it in half the time they wanted – and with multiple additional features added all the time. 

They accepted the challenge, but the remote situation caused by the pandemic made it very difficult. Adam couldn’t go to Moscow, the developers couldn’t get together in the same room, and, well, this is the result. Adam admits that he did not know the product was in such bad shape beforehand as SmartDec was confident that it would be ready in time. Unfortunately, they simply couldn’t deliver under the circumstances.

Adam accepts that we had a bad workflow and built a sub-par product that we placed on the testnet. However, he’s not even happy having it on the testnet as there are too many flaws and the quality is not there. So, that’s what went wrong. What are we going to do from here?

Take it Down from the Testnet

Adam says that the product simply isn’t good and we will be taking it off the testnet. He also realizes that we went about things the wrong way when trying to build Digitex City. We should never have tried to build a new exchange from scratch when we already had a bullet-proof and robust BTC futures platform that we could have built on.

Therefore, we will be making incremental improvements to our existing exchange moving forward. As Adam points out, it’s a great product, our $5 BTC market is very popular with high liquidity, and, with so much volatility and interest in bitcoin right now, it’s a great time to promote a BTC futures exchange–especially one with no commissions.

He says that we are going to be laser-focused moving forward and actually remove all the other markets for the time being to focus all the liquidity on our $5 BTC market. 

The Rebrand to Digitex City

Adam confirms that the rebrand will still go ahead and that we will still be realizing the Trade, Play, Connect concept. However, we will be doing it at a realistic pace. He also points out that we already have the Trade area to build on and we have also launched the Connect social platform. He admits that this is not perfect yet, but that we are improving it and will start heavily promoting it once it is completely ready.

We will also continue to develop the Play area with developers that are specialized in building casinos, games, and the eSports betting platform so that SmartDec can focus on the Trade area. We can also roll out products faster this way without development flaws using customizable white label solutions that we can be confident in without “reinventing the wheel.”

As far as the native currency of the exchange, for the time being, that will remain as DGTX. The DUSD solution has not been “canned.” However, it is not ready yet. So, in the meantime, the DGTX token remains king and will be the utility token for the exchange as well as the other areas of Digitex City as we roll them out.

Adam apologizes again for what happened, he also recognizes his silence over the last few days. He says that he was deeply focusing on how to fix the problem and where to go next. But, remaining positive, we still have a fantastic team, with SmartDec, the Kiev creatives, and world class support. Unfortunately, we simply got this one wrong and will learn from it and move forward.

Don’t Believe the FUDers

Adam spends some time talking about the group of FUDers on Telegram that continuously try to call Adam out as a scammer. Don’t believe them. Adam isn’t going anywhere. If you have learned anything by now, it’s that he doesn’t quit. He says, “If you think I’m quitting now, you really haven’t been paying attention.”

We have made mistakes but there is a plan and we have a solid team behind it. From here on in, we will stop talking about the products that are going to come and focus all our energy on the product that we have–a one-click rapid-fire trading ladder with zero fees that’s really fun to use. Thank you for sticking with us, we truly appreciate your continued support.

Latest News

Digitex

Team Spotlight – Digitex Content Editor and Contributor Sarah Rothrie

Digitex Futures
• admin
April 16, 2020

As part of our ongoing series introducing the team behind the world’s first zero-fee futures exchange, this week, we’re shining a spotlight on Sarah Rothrie. Sarah is one member of the group responsible for bringing you Digitex’s awesome range of content. As we ramp up to our mainnet onboarding, Sarah has plenty to keep her busy, but she took some time out to tell us a bit more about herself. 

What Does Sarah Do at Digitex? 

Digitex has one of the busiest blogs of any business in the crypto sector, and Sarah is one of our long-standing content contributors. She’s written dozens of pieces for the blog, mostly covering the crypto and futures markets. She’s written up several of the AMAs after Adam’s YouTube sessions, and she often edits pieces coming in from other contributors.

Sarah is also the voice of Digitex in your email inboxes, as she usually prepares the weekly newsletter roundup, which she tells us is the part of the job she enjoys the most.

“As a kid, I used to love writing letters – the old-fashioned kind with pen and paper! Writing emails and newsletters for Digitex reminds me of that. I like being able to talk directly to Digitex’s supporters and be a voice for the company.”

How Sarah Got Involved with Cryptocurrency

Sarah started getting interested in cryptocurrency around 2016, but more as a passing interest. At that time, she was working in a corporate job for a large multinational, but as she put it: “The job was starting to burn me out.” In late 2017, she quit, and went on an 18-month trip, traveling to 10 countries across Asia and North/Central America. She explains:

“I didn’t want to go back to corporate life so, while I was traveling, I was scoping out other opportunities. Writing about crypto just kind of landed in my lap.”

It was at the same time as the price of Bitcoin was blowing up, and a writer friend had offered her some ad-hoc work. After spending a couple of weeks online learning everything she could about crypto and blockchain technology, she managed to land two regular writing contracts, and has never looked back!

How Did You Get to Know Digitex? 

Sarah was introduced to Digitex in December 2018, by a colleague she met through another writing gig. She wrote her first piece for the blog that month and has been a regular contributor ever since.

So what does she like about Digitex? In her own words:

“Coming from a dry corporate background, I love the entrepreneurial spirit in the crypto space, and Digitex completely embodies that. It’s a brand-new product with a unique business model, and a team with the vision and guts to see it through.”

What’s the Crypto Scene Like Where You Live? 

Sarah’s originally from the UK, but after traveling, she settled close to where she had been working before she left. She lives just outside of Basel, Switzerland, but her home is actually just over the border in France. This means she’s on the doorstep of Switzerland’s famous Crypto Valley, which is home to some of the biggest unicorns in crypto, including the Ethereum Foundation, Bitmain, Polkadot, and DFinity.

As Sarah explains:

“The Swiss regulators have gone out of their way to create a fintech-friendly environment where blockchain and crypto startups can thrive. The Swiss canton of Zug has the lowest corporate tax rates in the country, so now there are over 800 companies operating in the Crypto Valley area. It’s literally a magnet for talent and investment, and a great place to be for anyone working in the crypto space.”

So what does Sarah do in her spare time? She laughs and elaborates that she doesn’t have much of it! “Along with Digitex, I also write for several other clients and crypto publications, usually on demand, so I’m pretty much always online, work-wise.”

She went on to share that one of her passions is bread baking, although she was quick to clarify that her hobby pre-dates the current baking craze resulting from many people being told to stay indoors.

As she says: “Bread doesn’t need much attention, it’s a slow and kind of meditative process. So it fits in perfectly around on-demand writing work for a startup gearing up to launch!”

April 16, 2020
Digitex Futures

Team Spotlight – Digitex Content Editor and Contributor Sarah Rothrie

admin
Digitex

As part of our ongoing series introducing the team behind the world’s first zero-fee futures exchange, this week, we’re shining a spotlight on Sarah Rothrie. Sarah is one member of the group responsible for bringing you Digitex’s awesome range of content. As we ramp up to our mainnet onboarding, Sarah has plenty to keep her busy, but she took some time out to tell us a bit more about herself. 

What Does Sarah Do at Digitex? 

Digitex has one of the busiest blogs of any business in the crypto sector, and Sarah is one of our long-standing content contributors. She’s written dozens of pieces for the blog, mostly covering the crypto and futures markets. She’s written up several of the AMAs after Adam’s YouTube sessions, and she often edits pieces coming in from other contributors.

Sarah is also the voice of Digitex in your email inboxes, as she usually prepares the weekly newsletter roundup, which she tells us is the part of the job she enjoys the most.

“As a kid, I used to love writing letters – the old-fashioned kind with pen and paper! Writing emails and newsletters for Digitex reminds me of that. I like being able to talk directly to Digitex’s supporters and be a voice for the company.”

How Sarah Got Involved with Cryptocurrency

Sarah started getting interested in cryptocurrency around 2016, but more as a passing interest. At that time, she was working in a corporate job for a large multinational, but as she put it: “The job was starting to burn me out.” In late 2017, she quit, and went on an 18-month trip, traveling to 10 countries across Asia and North/Central America. She explains:

“I didn’t want to go back to corporate life so, while I was traveling, I was scoping out other opportunities. Writing about crypto just kind of landed in my lap.”

It was at the same time as the price of Bitcoin was blowing up, and a writer friend had offered her some ad-hoc work. After spending a couple of weeks online learning everything she could about crypto and blockchain technology, she managed to land two regular writing contracts, and has never looked back!

How Did You Get to Know Digitex? 

Sarah was introduced to Digitex in December 2018, by a colleague she met through another writing gig. She wrote her first piece for the blog that month and has been a regular contributor ever since.

So what does she like about Digitex? In her own words:

“Coming from a dry corporate background, I love the entrepreneurial spirit in the crypto space, and Digitex completely embodies that. It’s a brand-new product with a unique business model, and a team with the vision and guts to see it through.”

What’s the Crypto Scene Like Where You Live? 

Sarah’s originally from the UK, but after traveling, she settled close to where she had been working before she left. She lives just outside of Basel, Switzerland, but her home is actually just over the border in France. This means she’s on the doorstep of Switzerland’s famous Crypto Valley, which is home to some of the biggest unicorns in crypto, including the Ethereum Foundation, Bitmain, Polkadot, and DFinity.

As Sarah explains:

“The Swiss regulators have gone out of their way to create a fintech-friendly environment where blockchain and crypto startups can thrive. The Swiss canton of Zug has the lowest corporate tax rates in the country, so now there are over 800 companies operating in the Crypto Valley area. It’s literally a magnet for talent and investment, and a great place to be for anyone working in the crypto space.”

So what does Sarah do in her spare time? She laughs and elaborates that she doesn’t have much of it! “Along with Digitex, I also write for several other clients and crypto publications, usually on demand, so I’m pretty much always online, work-wise.”

She went on to share that one of her passions is bread baking, although she was quick to clarify that her hobby pre-dates the current baking craze resulting from many people being told to stay indoors.

As she says: “Bread doesn’t need much attention, it’s a slow and kind of meditative process. So it fits in perfectly around on-demand writing work for a startup gearing up to launch!”

Latest News

bitcoin

Will Rising Inflation Be Bullish for Bitcoin

Digitex Futures
• admin
April 15, 2020

The last month and a half has been one of the most tumultuous times for the economy since the global financial crisis of 2008/2009. What’s the outlook, and what will rising inflation mean for Bitcoin? 

Since the markets crashed in mid-March, governments around the world have been pumping cash into the economy in an attempt to offset the damage caused by company shutdowns, reduced spending, and rising unemployment. In the US, the Senate approved a fiscal stimulus of $2 trillion, while the UK government has released $350 billion.

These cash injections appear to have given some confidence to investors, with major indices seeing some promising signs of recovery. The S&P 500 is up over 23% from its March low, while the Dow Jones has made gains of nearly 26%.

However, the global economy is far from out of the woods. All this cash flow has to be funded, and governments have borrowed heavily. Naturally, the bigger the debts, the more pressure on central banks. Typically, when governments increase their debt levels, investors demand higher bond yields to offset the risk that the debts won’t get repaid.

Furthermore, government monetary policies generally create an inverse relationship between inflation and interest rates. If governments are pumping cash into the economy, it creates inflation because more cash in circulation means that each unit decreases in value, and thus prices go up.

So, governments will already find themselves under pressure to increase interest rates in order to cover the costs of bond yields and their own debt interest. The added strain of rising inflation means they’ll be forced to decide how high they’re prepared to set interest rates to further offset the risks of spiraling inflation.

What Does Bitcoin Do During Times of Inflation? 

On the macro level, nobody really knows what will happen to the price of Bitcoin if there’s rising inflation. There hasn’t been a global economic crisis since 2008/2009 when Satoshi invented Bitcoin. At that time, he famously referenced the day’s headline of The Times in Bitcoin’s genesis block – “Chancellor on Brink of Second Bailout for Banks.” Satoshi envisioned Bitcoin as being a peer-to-peer digital currency that would set its own value, independent of the forces governing the traditional financial markets.

In reality, Bitcoin is no longer totally independent from the rest of the markets. The involvement of institutional investors and traders who will be using Bitcoin as one part of a diversified portfolio means its price fluctuations are no longer untethered. Furthermore, we have some data from countries with hyperinflation that shows people tend to turn to Bitcoin as a safe haven amid a challenging economic environment.

Venezuela is one of the most often-cited, but it’s a very extreme case. However, Latin American countries that have seen similar patterns of high inflation by rising Bitcoin adoption include Brazil and Argentina. While Argentina has experienced inflation rates up to 50%, commentators have observed record Bitcoin trade volumes amid inflation rates around 4%. We’ve seen comparable trends in African countries.

Will These Trends Become Visible Across the Globe? 

Of course, we aren’t necessarily expecting previously stable economies to move into the kind of hyperinflation territory that we’ve seen in some countries. Nevertheless, these statistics show some clear trends of people moving wealth into Bitcoin and cryptocurrencies in circumstances of rising inflation.

Therefore, it would seem that if the coronavirus pandemic causes rising volatility across the globe, Bitcoin’s notorious volatility could prove less intimidating compared to times when the economy is sailing along smoothly.

If this forecast proves to be accurate, then, of course, it spells great news for the crypto scene as its likely adoption will increase and thus help to drive crypto prices.

Higher Crypto Demand = More Traders! 

Increasing demand for crypto is also great news for Digitex. Futures trading allows people to speculate on market direction, whether it’s going up or down, and even a bull market will see daily price movements in both directions.

Using a zero-fee platform with a one-click trading interface means that day traders and scalpers can move in and out of their positions at lightning speed, profiting from even the most incremental movements without fees eating away at their winnings.

We’ll be onboarding the first group of traders to the Digitex Futures exchange starting on April 27. After that, it’s only a matter of some weeks before we’ll have thousands of active traders using Digitex to profit from the volatility of Bitcoin.

Regardless of what happens in the macroeconomy, or within the daily markets for Bitcoin, our vision of creating more winning traders without charging fees will soon be a reality.

April 15, 2020
Digitex Futures

Will Rising Inflation Be Bullish for Bitcoin

admin
bitcoin

The last month and a half has been one of the most tumultuous times for the economy since the global financial crisis of 2008/2009. What’s the outlook, and what will rising inflation mean for Bitcoin? 

Since the markets crashed in mid-March, governments around the world have been pumping cash into the economy in an attempt to offset the damage caused by company shutdowns, reduced spending, and rising unemployment. In the US, the Senate approved a fiscal stimulus of $2 trillion, while the UK government has released $350 billion.

These cash injections appear to have given some confidence to investors, with major indices seeing some promising signs of recovery. The S&P 500 is up over 23% from its March low, while the Dow Jones has made gains of nearly 26%.

However, the global economy is far from out of the woods. All this cash flow has to be funded, and governments have borrowed heavily. Naturally, the bigger the debts, the more pressure on central banks. Typically, when governments increase their debt levels, investors demand higher bond yields to offset the risk that the debts won’t get repaid.

Furthermore, government monetary policies generally create an inverse relationship between inflation and interest rates. If governments are pumping cash into the economy, it creates inflation because more cash in circulation means that each unit decreases in value, and thus prices go up.

So, governments will already find themselves under pressure to increase interest rates in order to cover the costs of bond yields and their own debt interest. The added strain of rising inflation means they’ll be forced to decide how high they’re prepared to set interest rates to further offset the risks of spiraling inflation.

What Does Bitcoin Do During Times of Inflation? 

On the macro level, nobody really knows what will happen to the price of Bitcoin if there’s rising inflation. There hasn’t been a global economic crisis since 2008/2009 when Satoshi invented Bitcoin. At that time, he famously referenced the day’s headline of The Times in Bitcoin’s genesis block – “Chancellor on Brink of Second Bailout for Banks.” Satoshi envisioned Bitcoin as being a peer-to-peer digital currency that would set its own value, independent of the forces governing the traditional financial markets.

In reality, Bitcoin is no longer totally independent from the rest of the markets. The involvement of institutional investors and traders who will be using Bitcoin as one part of a diversified portfolio means its price fluctuations are no longer untethered. Furthermore, we have some data from countries with hyperinflation that shows people tend to turn to Bitcoin as a safe haven amid a challenging economic environment.

Venezuela is one of the most often-cited, but it’s a very extreme case. However, Latin American countries that have seen similar patterns of high inflation by rising Bitcoin adoption include Brazil and Argentina. While Argentina has experienced inflation rates up to 50%, commentators have observed record Bitcoin trade volumes amid inflation rates around 4%. We’ve seen comparable trends in African countries.

Will These Trends Become Visible Across the Globe? 

Of course, we aren’t necessarily expecting previously stable economies to move into the kind of hyperinflation territory that we’ve seen in some countries. Nevertheless, these statistics show some clear trends of people moving wealth into Bitcoin and cryptocurrencies in circumstances of rising inflation.

Therefore, it would seem that if the coronavirus pandemic causes rising volatility across the globe, Bitcoin’s notorious volatility could prove less intimidating compared to times when the economy is sailing along smoothly.

If this forecast proves to be accurate, then, of course, it spells great news for the crypto scene as its likely adoption will increase and thus help to drive crypto prices.

Higher Crypto Demand = More Traders! 

Increasing demand for crypto is also great news for Digitex. Futures trading allows people to speculate on market direction, whether it’s going up or down, and even a bull market will see daily price movements in both directions.

Using a zero-fee platform with a one-click trading interface means that day traders and scalpers can move in and out of their positions at lightning speed, profiting from even the most incremental movements without fees eating away at their winnings.

We’ll be onboarding the first group of traders to the Digitex Futures exchange starting on April 27. After that, it’s only a matter of some weeks before we’ll have thousands of active traders using Digitex to profit from the volatility of Bitcoin.

Regardless of what happens in the macroeconomy, or within the daily markets for Bitcoin, our vision of creating more winning traders without charging fees will soon be a reality.

Latest News

Commission-Free

Why Pay Fees When You Can Trade Commission-Free?

Digitex Futures
Trading
• admin
April 14, 2020

Digitex is in the process of building the world’s first commission-free futures exchange. For the first time in the history of the financial markets, traders won’t be penalized for doing exactly what the exchange needs to survive – trading. So, as Digitex Futures prepares its platform for launch, could it be on the verge of redefining the way financial exchanges operate forever? Luke Green explains… 

Why Commissions?

Commissions have likely been a part of trading since the first recorded buying and selling of shares occurred in Rome in the 2nd century BC. However, we do know from the Buttonwood Agreement that commissions were an accepted part of trading as far back as 1792.

In this document, the founding fathers of Wall Street agreed to set their commissions at a very reasonable 0.25%. So as a concept, commissions in trading are about as mainstream as wheels on cars.

But why charge commissions? Simply put it’s because there are costs and owners who want to profit. Exchanges are in essence, marketplaces.

So, whether it’s the rental fee for setting out your cake stall or the hosting costs for your exchange interface, marketplaces all have one thing in common. There are overheads that need to be paid.

Of course, there are many ways to recoup these costs. It could be membership fees, listing fees, or software licensing fees, to name a few. However, commissions are favored for their market efficiency.

They allow marketplace owners to recoup costs at the point of exchange but they remove the ‘perceived’ upfront cost for the vendor using the marketplace. On the surface, this seems like a win/win arrangement but the commission model comes with inherent problems. 

For example, if one marketplace becomes the dominant player, it will tend to work against its vendors to maximize profits. Rebalancing can only happen if another marketplace starts to become competitive. 

Specifically, for futures trading, paying a per-trade commission means every trade must meet a minimum profitability threshold since you have to pay the house first. Only once the trade has paid for itself does it become profitable.

So for a short-term trader who’s dependent on fast and frequent transactions, commissions eat into your profits and add to your losses.

Want to try your hand at trading commission-free on the Digitex Futures exchange? With the beta version handling insane volume, you can practice your skills on our trading ladder interface and hone your strategy before the mainnet release on April 27, 2020.

JOIN NOW
Technology Disruption

The New York Stock Exchange (NYSE) was formed in 1792. It dominated the US economy for nearly 200 years until the NASDAQ exchange emerged as a contender in 1971.

NASDAQ took a new technological approach, providing a network of computer terminals to make trading both faster and cheaper. The NYSE only managed to retain its dominance by actually listing on the NASDAQ, merging with another company and going onto adopt modern practices.

This example is just one of many that illustrate how technology has the power to disrupt long-established business models. Of course, with the advent of the internet and smartphones, super-fast trading marketplaces are now literally in your pocket. Yet its seems, despite tireless innovation everywhere else, the old-school concept of commissions remains central to most marketplace services. 

The market’s stubborn grip on the commission model is most likely due to a combination of industry blindness and profiteering. Why innovate when there’s money to be made?

However, with the emergence of ‘trustless’ self-governing systems, blockchain technology has created the tools to revolutionize the entire concept of commission.

How Can It Be Commission ‘Free’?

Of course, nothing is free right? That idea died the moment we found out that the price to pay was our data. Even so, how can Digitex remove something as fundamental as commissions and continue to pay its bills? 

The answer, it turns out, is to shift where the costs of running the exchange are recouped. To create a dedicated currency (DGTX) via which all financial transactions on the exchange take place. In doing so, Digitex has created a mechanism that will efficiently capture the value of the exchange directly into the DGTX token. By initially selling tokens from the Treasury and then eventually through token issuance, Digitex can realize a portion of the DGTX token value, which it will use to run the exchange.

It’s a groundbreaking idea with maximum upside for all invested parties. For traders, it means they will be able to pursue previously unrealistic trading strategies, performing fast and frequent trades and scalping all of the profits for themselves. Not to mention the fact that the uniqueness of commission-free trading, which is just one of the many features offered by Digitex, will create a huge amount of demand. This demand will also serve to offset the inflationary effect of issuing new DGTX tokens.

So, Could This Be The Future?

If the Digitex exchange proves as popular as the previous DGTX price rallies indicate, it will completely reshape the dynamic between the vendor and marketplace. This will have far-reaching consequences for the entire exchange industry.

We live in a world where the old systems and processes are increasingly being exposed for their frailties and weaknesses. Now, Digitex could have a working example of a robust business model that finally realizes the promise of blockchain technology in a practical and user-oriented context.

For the first time, there will be a futures exchange that operates as a self-governing autonomous organization, placing just as much priority on the profitability of its participants as it does the sustainability of its operations. It is almost guaranteed to send reverberations far beyond the cryptocurrency and fintech sphere. 

That is massive.

Do you want to stock up on DGTX tokens ahead of the mainnet launch? You can head over to the Digitex Treasury for a trustless transaction with zero slippage and completely KYC-free now.

BUY DGTX

 

April 14, 2020
Digitex Futures
Trading

Why Pay Fees When You Can Trade Commission-Free?

admin
Commission-Free

Digitex is in the process of building the world’s first commission-free futures exchange. For the first time in the history of the financial markets, traders won’t be penalized for doing exactly what the exchange needs to survive – trading. So, as Digitex Futures prepares its platform for launch, could it be on the verge of redefining the way financial exchanges operate forever? Luke Green explains… 

Why Commissions?

Commissions have likely been a part of trading since the first recorded buying and selling of shares occurred in Rome in the 2nd century BC. However, we do know from the Buttonwood Agreement that commissions were an accepted part of trading as far back as 1792.

In this document, the founding fathers of Wall Street agreed to set their commissions at a very reasonable 0.25%. So as a concept, commissions in trading are about as mainstream as wheels on cars.

But why charge commissions? Simply put it’s because there are costs and owners who want to profit. Exchanges are in essence, marketplaces.

So, whether it’s the rental fee for setting out your cake stall or the hosting costs for your exchange interface, marketplaces all have one thing in common. There are overheads that need to be paid.

Of course, there are many ways to recoup these costs. It could be membership fees, listing fees, or software licensing fees, to name a few. However, commissions are favored for their market efficiency.

They allow marketplace owners to recoup costs at the point of exchange but they remove the ‘perceived’ upfront cost for the vendor using the marketplace. On the surface, this seems like a win/win arrangement but the commission model comes with inherent problems. 

For example, if one marketplace becomes the dominant player, it will tend to work against its vendors to maximize profits. Rebalancing can only happen if another marketplace starts to become competitive. 

Specifically, for futures trading, paying a per-trade commission means every trade must meet a minimum profitability threshold since you have to pay the house first. Only once the trade has paid for itself does it become profitable.

So for a short-term trader who’s dependent on fast and frequent transactions, commissions eat into your profits and add to your losses.

Want to try your hand at trading commission-free on the Digitex Futures exchange? With the beta version handling insane volume, you can practice your skills on our trading ladder interface and hone your strategy before the mainnet release on April 27, 2020.

JOIN NOW
Technology Disruption

The New York Stock Exchange (NYSE) was formed in 1792. It dominated the US economy for nearly 200 years until the NASDAQ exchange emerged as a contender in 1971.

NASDAQ took a new technological approach, providing a network of computer terminals to make trading both faster and cheaper. The NYSE only managed to retain its dominance by actually listing on the NASDAQ, merging with another company and going onto adopt modern practices.

This example is just one of many that illustrate how technology has the power to disrupt long-established business models. Of course, with the advent of the internet and smartphones, super-fast trading marketplaces are now literally in your pocket. Yet its seems, despite tireless innovation everywhere else, the old-school concept of commissions remains central to most marketplace services. 

The market’s stubborn grip on the commission model is most likely due to a combination of industry blindness and profiteering. Why innovate when there’s money to be made?

However, with the emergence of ‘trustless’ self-governing systems, blockchain technology has created the tools to revolutionize the entire concept of commission.

How Can It Be Commission ‘Free’?

Of course, nothing is free right? That idea died the moment we found out that the price to pay was our data. Even so, how can Digitex remove something as fundamental as commissions and continue to pay its bills? 

The answer, it turns out, is to shift where the costs of running the exchange are recouped. To create a dedicated currency (DGTX) via which all financial transactions on the exchange take place. In doing so, Digitex has created a mechanism that will efficiently capture the value of the exchange directly into the DGTX token. By initially selling tokens from the Treasury and then eventually through token issuance, Digitex can realize a portion of the DGTX token value, which it will use to run the exchange.

It’s a groundbreaking idea with maximum upside for all invested parties. For traders, it means they will be able to pursue previously unrealistic trading strategies, performing fast and frequent trades and scalping all of the profits for themselves. Not to mention the fact that the uniqueness of commission-free trading, which is just one of the many features offered by Digitex, will create a huge amount of demand. This demand will also serve to offset the inflationary effect of issuing new DGTX tokens.

So, Could This Be The Future?

If the Digitex exchange proves as popular as the previous DGTX price rallies indicate, it will completely reshape the dynamic between the vendor and marketplace. This will have far-reaching consequences for the entire exchange industry.

We live in a world where the old systems and processes are increasingly being exposed for their frailties and weaknesses. Now, Digitex could have a working example of a robust business model that finally realizes the promise of blockchain technology in a practical and user-oriented context.

For the first time, there will be a futures exchange that operates as a self-governing autonomous organization, placing just as much priority on the profitability of its participants as it does the sustainability of its operations. It is almost guaranteed to send reverberations far beyond the cryptocurrency and fintech sphere. 

That is massive.

Do you want to stock up on DGTX tokens ahead of the mainnet launch? You can head over to the Digitex Treasury for a trustless transaction with zero slippage and completely KYC-free now.

BUY DGTX

 

Latest News

DGTX

How Waitlist Winners Will Claim their DGTX Prizes on the Mainnet

Digitex Futures
• admin
April 13, 2020

Last Friday, Adam opened up the Digitex YouTube channel once again for one of his customary AMAs to discuss the launch of the #DFE mainnet. Having worked through all your questions in record time, we can now unveil in more detail exactly how the mainnet onboarding is going to work, including how our waitlist winners can claim their DGTX prizes! 

As Adam explained on Friday, there won’t be any fireworks on April 27. On that day, we will have an initial soft launch where we onboard a small group of 20 traders.

The onboarding will then continue in stages throughout May and perhaps even into early June. Our community managers are already working on the names for the next group of 200 people, who will be selected in a similar way to those who tested during our alpha launch. These will be supporters who are close to Digitex and already familiar with trading on our testnet.

Once the developers are satisfied that the platform is performing for the first 20, we will onboard the next 200. Thereafter, we will be working our way through the list of waitlist winners, which is more than 10,000 people.

I’m a Waitlist Winner – When Will I Get My Tokens? 

We know that we have thousands of waitlist winners just waiting to claim their DGTX prizes – 10,500, in fact! The short answer is that you’ll get your waitlist tokens when you’re onboarded.

The exact timing of the onboarding will be a decision for the development team, made in response to how well the mainnet is performing under the added pressure of each new group of users, so we can’t confirm the precise date that anyone will get their mainnet invite.

However, we’ve come up with a way of making sure that, if you’re a waitlist winner, your DGTX prizes will be ready and waiting for you as soon as you log into your Digitex mainnet account.

We’ll be pre-loading all our waitlist winner’s email addresses and airdrop prize values into the mainnet before we start the onboarding. When we’re ready to onboard you, we’ll send you an invite by email. When you click the link in your invite, you’ll see that you can now toggle between the Digitex testnet and mainnet. You don’t need to create another account – you’ll be able to log on to the mainnet with your existing testnet credentials.

Now, on your mainnet account balance, you’ll see your DGTX prize funds automatically credited and ready to trade!

What If I’m a Waitlist Winner, But My Prize Isn’t There? 

If you’ve changed your email address or are just using a different email address for your Digitex account than the one you provided us with in the waitlist contest, then your prize isn’t allocated automatically. But don’t worry. You’ll only need to contact our 24/7 support desk and provide the agent with the email address you used for the waitlist. They’ll cross-check our winner’s list, and once we’ve confirmed you’re eligible, we can credit your account with your DGTX prize manually.

I Can’t Withdraw My DGTX Prize Winnings

You will find that you can’t withdraw your DGTX prize winnings when you first log in. As we’ve said before, the purpose of the DGTX giveaways is to stimulate liquidity on the live exchange. Once you’ve traded your DGTX 50 times, you’ll be able to withdraw them in the usual way.

I’ve Entered the Third Waitlist – When Will I Know if I Won? 

We are currently working on the list of winners for the third waitlist contest and will be announcing the winners very soon. Sit tight and bear with us!

Help and Support

Our support agents will be available via live chat 24/7 via the mainnet and soon via the Digitex website too. If you’re new to trading or need any help figuring out how to get around the platform, you’ll have access to someone who can guide you through the process using live chat.

We’ve also received some requests from the community to provide more instructional content in the form of how-to videos and introductory pop-ups for first-time users. As always, we listen to our supporters! We’re already working on these, and by the time the first group comes on board on April 27, we’ll have even more support available for you.

We’d love to be able to throw open the doors on April 27 to everyone, but our number one priority isn’t speed. We want to make sure all our users have the best experience possible, especially those of you who have already waited so long for a mainnet launch. Thank you to everyone for your continued support and patience while we work through this last mile.

Therefore, we’re confident that a phased onboarding is the best way to ensure the #DFE platform is fully armed and battle-ready by the time we start onboarding users in bulk, and finally open our doors to the public.

April 13, 2020
Digitex Futures

How Waitlist Winners Will Claim their DGTX Prizes on the Mainnet

admin
DGTX

Last Friday, Adam opened up the Digitex YouTube channel once again for one of his customary AMAs to discuss the launch of the #DFE mainnet. Having worked through all your questions in record time, we can now unveil in more detail exactly how the mainnet onboarding is going to work, including how our waitlist winners can claim their DGTX prizes! 

As Adam explained on Friday, there won’t be any fireworks on April 27. On that day, we will have an initial soft launch where we onboard a small group of 20 traders.

The onboarding will then continue in stages throughout May and perhaps even into early June. Our community managers are already working on the names for the next group of 200 people, who will be selected in a similar way to those who tested during our alpha launch. These will be supporters who are close to Digitex and already familiar with trading on our testnet.

Once the developers are satisfied that the platform is performing for the first 20, we will onboard the next 200. Thereafter, we will be working our way through the list of waitlist winners, which is more than 10,000 people.

I’m a Waitlist Winner – When Will I Get My Tokens? 

We know that we have thousands of waitlist winners just waiting to claim their DGTX prizes – 10,500, in fact! The short answer is that you’ll get your waitlist tokens when you’re onboarded.

The exact timing of the onboarding will be a decision for the development team, made in response to how well the mainnet is performing under the added pressure of each new group of users, so we can’t confirm the precise date that anyone will get their mainnet invite.

However, we’ve come up with a way of making sure that, if you’re a waitlist winner, your DGTX prizes will be ready and waiting for you as soon as you log into your Digitex mainnet account.

We’ll be pre-loading all our waitlist winner’s email addresses and airdrop prize values into the mainnet before we start the onboarding. When we’re ready to onboard you, we’ll send you an invite by email. When you click the link in your invite, you’ll see that you can now toggle between the Digitex testnet and mainnet. You don’t need to create another account – you’ll be able to log on to the mainnet with your existing testnet credentials.

Now, on your mainnet account balance, you’ll see your DGTX prize funds automatically credited and ready to trade!

What If I’m a Waitlist Winner, But My Prize Isn’t There? 

If you’ve changed your email address or are just using a different email address for your Digitex account than the one you provided us with in the waitlist contest, then your prize isn’t allocated automatically. But don’t worry. You’ll only need to contact our 24/7 support desk and provide the agent with the email address you used for the waitlist. They’ll cross-check our winner’s list, and once we’ve confirmed you’re eligible, we can credit your account with your DGTX prize manually.

I Can’t Withdraw My DGTX Prize Winnings

You will find that you can’t withdraw your DGTX prize winnings when you first log in. As we’ve said before, the purpose of the DGTX giveaways is to stimulate liquidity on the live exchange. Once you’ve traded your DGTX 50 times, you’ll be able to withdraw them in the usual way.

I’ve Entered the Third Waitlist – When Will I Know if I Won? 

We are currently working on the list of winners for the third waitlist contest and will be announcing the winners very soon. Sit tight and bear with us!

Help and Support

Our support agents will be available via live chat 24/7 via the mainnet and soon via the Digitex website too. If you’re new to trading or need any help figuring out how to get around the platform, you’ll have access to someone who can guide you through the process using live chat.

We’ve also received some requests from the community to provide more instructional content in the form of how-to videos and introductory pop-ups for first-time users. As always, we listen to our supporters! We’re already working on these, and by the time the first group comes on board on April 27, we’ll have even more support available for you.

We’d love to be able to throw open the doors on April 27 to everyone, but our number one priority isn’t speed. We want to make sure all our users have the best experience possible, especially those of you who have already waited so long for a mainnet launch. Thank you to everyone for your continued support and patience while we work through this last mile.

Therefore, we’re confident that a phased onboarding is the best way to ensure the #DFE platform is fully armed and battle-ready by the time we start onboarding users in bulk, and finally open our doors to the public.

Latest News

personality traits

These are the Top 6 Personality Traits of a Trader

Digitex Futures
• admin
April 12, 2020

We recently asked our community the question of whether traders are born or made. As it relates to the Crypto space, a resounding 85% of respondents agreed that traders are made. However, there are certain personality traits that are definitely helpful. And if you aren’t born with them, you’ll need to develop them fast to stay in the game.

Traders Can Be Created

While the overwhelming majority of you believe that traders can be created, there are certainly some talented traders who are naturally good at it. But even if a trader doesn’t have an innate affinity for making deals, the basic skills can be taught to anyone with the right mindset and commitment. 

At Digitex, we believe that good traders can be made. This is part of our very mission–to create successful traders and give them financial freedom and the ability to design their own lives.

We’ll be putting out plenty of educational material and offering Master Class trading courses with our partners as well because we want to see you succeed! The more traders win on our platform, the greater the demand for DGTX and the higher the price. This makes us the only exchange whose interests are truly aligned with our traders. We can honestly say we want what you do! Win-win!

But regardless of our intentions and where you stand on the question, one thing is true: you need certain personality traits to trade. And if you don’t have them, you better learn them fast. Here are our top six.

Are you looking to get in on the next zero-fee trading revolution? You can buy DGTX by clicking on the link below. You’ll get an instant trustless transaction with zero slippage and can buy directly from us with no need to set up an exchange account.

BUY DGTX
1. A Clear Head – Good Traders Know It’s All a Head Game

No matter what side of the nature of nurture camp you’re on, all parties agree there are certain personality traits that good traders share. Reaching out to Crypto Wendy O (a U.S. Crypto personality and trader), she argues:

“It’s important to know the basics of economics, market cycles, r/r, etc. but the mental aspects of trading are extremely important. The mind plays a big role in how we analyze our personal trades. It’s also important to remain unbiased emotionally while trading. Becoming emotional in a trade will cause mistakes to be made that would otherwise not occur.”

This brings up two phrases we see all the time in the media. FUD (Fear Uncertainty and Doubt) and FOMO (Fear Of Missing Out). Combining FOMO with emotional trading may make for interesting “remember when?” stories after the fact. But it also makes for a lot of hasty and potential mistakes that can cost you dearly.

2. Patience – Practice Makes Perfect

Whether you’re born with an eye for trading or you study hard, you’ll need to learn the art of patience. And understand the fact that the more you practice, the better you’ll become. 

Good traders understand that not only do they require mastering the art of patience but they must keep on practicing until they can really read the markets.

As one of our anonymous survey respondents replied:

“Traders are made, no questions asked. Practice makes perfect. You can watch all the YouTube videos or read all the mechanics textbooks in the world. But until you get your hands greasy and under the hood of your car, you won’t learn as much and get better at it.”

3. The Ability to Learn Big-Picture Thinking

Traders need to learn the art of big-picture thinking. This means that they won’t be tempted to make a sell call before time and that they can understand market cycles. Whether you’re a day or position trader, traders always have to look beyond the trade now and have an exit strategy in their minds.

Isaiah Jackson of KRBE Digital Assets Group notes:

Traders have to learn to suppress emotions and focus on the fundamentals. Also, zoom out on charts and think long-term.” 

Looking to hone your scalping skills ahead of the upcoming mainnet launch? You can sign up below for an account on the DGTX beta and even enter our Trading Battle for the chance to win free DGTX.

SIGN UP
4. Adaptability – Traders Need to Know When to Change Position

While you can be born with some of the personality traits that attract people to trading, such as high-risk tolerance, and a champion mindset, you develop into a trader. This can only happen through experience and the ability to make changes when required.

You definitely have to have a tolerance for what many perceive as stressful, high-risk scenarios, but you also need creativity and patience.

The creativity is for your due diligence and research into projects, uncovering as many stones and possibilities as possible to couple with the TA to assist in your trading decisions. And the patience after understanding where you are in the market cycle to see it through and be prepared for what the next has to offer.

5. Discipline – Being Able to Continue No Matter What

Not everyone has the ability to stay in the game after absorbing a big loss or making a wrong call. But the discipline to continue staying in the game and mastering your emotions sets apart an excellent trader from the rest. As one of our anonymous survey respondents pointed out, trading is full of:

“Sleepless nights, stress, and hard sweat! It encourages and also discourages, trades that fail teach us a lot!” 

6. Independence – Trading Can Be Lonely

When you’re sat many hours at a computer absorbed in price action and simply stepping away for a few minutes could cause giant losses, trading can be lonely. It takes an independent mind to be able to work alone, to concentrate in isolation without the camaraderie of a team working behind.

With statistics saying that 80% of traders lose money across all asset classes, the odds are not always on your side. At most exchanges, there’s a mechanical edge working against you and testing your courage, discipline, patience, and rationality to the max.

At Digitex, we honestly care about our community and will celebrate every one of your successes. And because we don’t siphon liquidity out of the pool in the form of commissions, there’s more money in the collective pot attracting and producing more and more successful traders.

Anyone can learn to trade, but if you focus on developing these core personality traits, you’ll become one of the 20% that actually win at the game.

April 12, 2020
Digitex Futures

These are the Top 6 Personality Traits of a Trader

admin
personality traits

We recently asked our community the question of whether traders are born or made. As it relates to the Crypto space, a resounding 85% of respondents agreed that traders are made. However, there are certain personality traits that are definitely helpful. And if you aren’t born with them, you’ll need to develop them fast to stay in the game.

Traders Can Be Created

While the overwhelming majority of you believe that traders can be created, there are certainly some talented traders who are naturally good at it. But even if a trader doesn’t have an innate affinity for making deals, the basic skills can be taught to anyone with the right mindset and commitment. 

At Digitex, we believe that good traders can be made. This is part of our very mission–to create successful traders and give them financial freedom and the ability to design their own lives.

We’ll be putting out plenty of educational material and offering Master Class trading courses with our partners as well because we want to see you succeed! The more traders win on our platform, the greater the demand for DGTX and the higher the price. This makes us the only exchange whose interests are truly aligned with our traders. We can honestly say we want what you do! Win-win!

But regardless of our intentions and where you stand on the question, one thing is true: you need certain personality traits to trade. And if you don’t have them, you better learn them fast. Here are our top six.

Are you looking to get in on the next zero-fee trading revolution? You can buy DGTX by clicking on the link below. You’ll get an instant trustless transaction with zero slippage and can buy directly from us with no need to set up an exchange account.

BUY DGTX
1. A Clear Head – Good Traders Know It’s All a Head Game

No matter what side of the nature of nurture camp you’re on, all parties agree there are certain personality traits that good traders share. Reaching out to Crypto Wendy O (a U.S. Crypto personality and trader), she argues:

“It’s important to know the basics of economics, market cycles, r/r, etc. but the mental aspects of trading are extremely important. The mind plays a big role in how we analyze our personal trades. It’s also important to remain unbiased emotionally while trading. Becoming emotional in a trade will cause mistakes to be made that would otherwise not occur.”

This brings up two phrases we see all the time in the media. FUD (Fear Uncertainty and Doubt) and FOMO (Fear Of Missing Out). Combining FOMO with emotional trading may make for interesting “remember when?” stories after the fact. But it also makes for a lot of hasty and potential mistakes that can cost you dearly.

2. Patience – Practice Makes Perfect

Whether you’re born with an eye for trading or you study hard, you’ll need to learn the art of patience. And understand the fact that the more you practice, the better you’ll become. 

Good traders understand that not only do they require mastering the art of patience but they must keep on practicing until they can really read the markets.

As one of our anonymous survey respondents replied:

“Traders are made, no questions asked. Practice makes perfect. You can watch all the YouTube videos or read all the mechanics textbooks in the world. But until you get your hands greasy and under the hood of your car, you won’t learn as much and get better at it.”

3. The Ability to Learn Big-Picture Thinking

Traders need to learn the art of big-picture thinking. This means that they won’t be tempted to make a sell call before time and that they can understand market cycles. Whether you’re a day or position trader, traders always have to look beyond the trade now and have an exit strategy in their minds.

Isaiah Jackson of KRBE Digital Assets Group notes:

Traders have to learn to suppress emotions and focus on the fundamentals. Also, zoom out on charts and think long-term.” 

Looking to hone your scalping skills ahead of the upcoming mainnet launch? You can sign up below for an account on the DGTX beta and even enter our Trading Battle for the chance to win free DGTX.

SIGN UP
4. Adaptability – Traders Need to Know When to Change Position

While you can be born with some of the personality traits that attract people to trading, such as high-risk tolerance, and a champion mindset, you develop into a trader. This can only happen through experience and the ability to make changes when required.

You definitely have to have a tolerance for what many perceive as stressful, high-risk scenarios, but you also need creativity and patience.

The creativity is for your due diligence and research into projects, uncovering as many stones and possibilities as possible to couple with the TA to assist in your trading decisions. And the patience after understanding where you are in the market cycle to see it through and be prepared for what the next has to offer.

5. Discipline – Being Able to Continue No Matter What

Not everyone has the ability to stay in the game after absorbing a big loss or making a wrong call. But the discipline to continue staying in the game and mastering your emotions sets apart an excellent trader from the rest. As one of our anonymous survey respondents pointed out, trading is full of:

“Sleepless nights, stress, and hard sweat! It encourages and also discourages, trades that fail teach us a lot!” 

6. Independence – Trading Can Be Lonely

When you’re sat many hours at a computer absorbed in price action and simply stepping away for a few minutes could cause giant losses, trading can be lonely. It takes an independent mind to be able to work alone, to concentrate in isolation without the camaraderie of a team working behind.

With statistics saying that 80% of traders lose money across all asset classes, the odds are not always on your side. At most exchanges, there’s a mechanical edge working against you and testing your courage, discipline, patience, and rationality to the max.

At Digitex, we honestly care about our community and will celebrate every one of your successes. And because we don’t siphon liquidity out of the pool in the form of commissions, there’s more money in the collective pot attracting and producing more and more successful traders.

Anyone can learn to trade, but if you focus on developing these core personality traits, you’ll become one of the 20% that actually win at the game.

Latest News

mainnet

AMA with Adam About the Digitex Mainnet Onboarding

Digitex Futures
• admin
April 10, 2020

In case you missed it, Adam held a live AMA today to discuss the mainnet onboarding and answer all your questions. It’s short and sweet as he rapidly got to every single question in a record of just over 20 minutes! If you’ve got the chance, you can check out the recording, or read the summary below.

Adam Answers All Your Questions About Mainnet

Adam starts out the AMA by assuring everyone that, despite some of the rumors, he has a very good relationship with SmartDec. He speaks to them every day and confirms that we’re still on track for mainnet release on April 27. Adam does acknowledge that the coronavirus pandemic hasn’t been completely without its challenges.

For example, he has not been able to get to Moscow. He says that, no matter what people say, there is a difference with remote working, the feedback, being hours behind the developers. He says, “it has slowed us down but they are going to hit the date.”

He goes on to remind everyone that it’s not going to be “fireworks and canapes” on April 27. It’s the onboarding of the first 20 people. After that, SmartDec will gradually add more people as they decide. It’s a development-led decision. He also reassures people he doesn’t have coronavirus either, another rumor that was circulating on Telegram. Then, without further ado, he dives into your questions.

1. I have noticed SmartDec does not bring out any more blog posts, is the relationship between Digitex and SmartDec still good?

Adam confirms that yes, absolutely. There are no problems at all. He says that they are just working hard and says that “they just don’t write blog posts, they’re a development company, it takes time out from what they’re doing.” But he says that he speaks with them daily and is personal friends with the owner. “They’re not going anywhere,” he says.

2. Will the API be active at mainnet?

Adam says that it will not be ready on April 27. It will be a very slow rollout but available soon after.

3. Will stoploss be active at mainnet? It still says coming soon…

Again, Adam says it will be coming soon but probably not on April 27.

4. Regarding the market makers, will they offer liquidity similar to what it is now with greater than 10k contracts per tick or will it be closer to that test period last week where it was around 200-500 contracts per tick?

Adam laughs and says, no, sorry. You won’t see the same crazy sky-high volumes on the mainnet. He says that the idea with the testnet was to put a lot of volume through it to see how the system stood up. So, it won’t be anything like that kind of volume on the mainnet.

5. How will the affiliate system work after the mainnet?

Adam says that this hasn’t been completely decided. He says that the system we have now works by you receiving some DGTX when you refer friends and they also get some DGTX. However, he says that it is a system open to abuse with fake emails so we are still assessing exactly what to do with it and will let you know when we do.

6. It looks like in the last development update report shared yesterday the spot price would get updated. Is that to remove Binance and Bitfinex from the calculation?

Adam says he hasn’t yet spoken specifically with them about this but he believes they have taken the USDT out of it, so it’s USD as USDT isn’t always exactly $1 as it fluctuates slightly.

7. Will the losses from liquidated users be given to the market makers or be used as prize money for the tournaments?

Adam says that the idea for system gains by liquidations is that they go to the insurance fund and get lost by the market makers. He says that when we introduce market maker rebates and see what gains we are making we may allocate money to these things but the idea for now is for the market makers to lose.

8. Is there a solution to the peg system in the works? 

Adam responds by saying “Uhh, the peg system.” He says that not right now, he can’t get his head around how it will work in practice. He says that it sounds great but applying it practically is extremely hard. He is considering other options of how traders can trade without DGTX volatility. He says that this could be through DGTX lending, but we’re not actively working on it now. The key is “getting the mainnet over the line” and then we can work on other things.

10. Can services such as Uniswap or Kyber be used for the spot market function until the actual Digitex Futures exchange spot markets go live? 

Adam says that possibly. He says that we also have Changellywhich has an API to allow you to buy and sell that way. We also have the Digitex Treasury which people can just send an ether payment to and get DGTX back. Although, for selling, traders still need to go to exchanges… But having said that, he says “we have some exchange listings coming up and one of them is pretty decent, so more on that soon.”

11. When is the code freeze happening?

Adam says he doesn’t know the exact date but it will be very soon. The developers are making some last-minute changes because SmartDec wants to send it to audit to people trying to break it apart. It will be very soon, he says.

12. When does marketing work on YouTube?

Adam says that we have some ads on YouTube right now and, in fact, we have ads “all over the place.” He says that we are testing on a small scale so that we can scale up when ready. He confirms that we’re “getting good at it” and says if we can scale results when mainnet is ready for that kind of volume we aim to get 1000 signups a day. “Our marketing game is getting pretty refined now,” he says, “we have 21 people, from brand design, and all aspects you can think of.”

13. Can you elaborate on Digitex DeFi plans?

He laughs and says that he’s not really aware of any specific DeFi plans. Although maybe the lending, if we come out with a system where hodlers can lend to traders. However, that is not in the specs yet nor in the works.

14. Has the earlier KYC information been deleted from the third party company that was involved?

Adam says that he does not know. He says, let’s be honest, data is never deleted. But he says he doesn’t have a contract with that company anymore, and no one from Digitex has access to that company or any data. He doesn’t know if that third party company has deleted it, he thinks they have probably archived it. He would be surprised if they deleted it, but he doesn’t know.

15. Restricting DGTX supply for a growing number of traders would supercharge DGTX price growth. So do you plan to introduce staking rewards for DGTX holders to incentivize them to take as many tokens out of circulation for as long as possible?

Adam says that there are ideas about this but they’re not really staking… He says he has a more concrete idea that is being actively worked on right now and will create more demand for the token and a brand new utility. “It’s very very exciting and that’s all I can say,” he says. He thinks that you will find out in June and you’re “just going to lose your minds.”

16. Will there be a limit on the leverage from the start or is it 100X from day one? 

Adam says he’s not sure if it’s 100x from day one, April 27. He says that we may only start with 20x as we don’t want to mess things up.

17. Have you considered going more than 100x in the future?

Adam says that we haven’t considered that yet as 100x can be “pretty scary in certain conditions.”

18. Will the reporting page/executes trades with realized PnL be updated before launch? I just want a page where I choose a date period and the gains in DGTX and USD value during that time frame.

Adam says that probably won’t be done on April 27 but it is on the list. He says it’s the history page that needs a re-do as it needs to be clearer and better so yes, you will be able to see this soon but it’s not done yet.

19. Is the system for Airdrop tokens turnaround ready from launch (the 1000 tokens that have to be traded X amount of times before withdrawal)?

Adam says that April 27 is the first 20 and according to what SmartDec decides at the rate they decide more people will be added. The first people in will be the ones on the first waitlist, however, the exact way will be detailed in a blog post next week, so keep your eyes open for that.

20. Can the market maker funds be increased as more markets are added? That will help in increasing liquidity in every new market. 100M might run short for 5-20 different markets.

Adam says that this could be true, but the only way we can increase funds is to mint more tokens, so we may not want to do that. He says that we will assess it at the time when we see what the liquidity rates are like. He would prefer more market maker schemes that incentivize users to do it and would like a little bot to incentivize normal people to become market makers and then we wouldn’t have to mint more tokens.

21. In the UK spread betting is tax-free, the only difference between spread and futures being the exchange or bookmaker sets the prices in spread betting. Since DGTX uses its own price oracle which can be changed and adjusted by the exchange would it fall under spread betting here? (IRL & UK)

Adam laughs and says he doesn’t think so. He points out that it is our oracle but we don’t have control of the oracle as were pulling feeds from other exchanges. Also, it’s not the oracle but the price on the futures exchange, so he thinks that trying to convince the taxman that it’s spread betting, probably won’t work but good luck with that.

22. Why are there currently lag issues and will they be fixed for Mainnet?

Adam says that some of the updates have been causing lags, and he knows that they are frustrating, but the developers are aware of it and working on it. Adam says that even April 27 “won’t be the end.” It will still be being worked on. He encourages traders to help us if they please find bugs, to record the screen, capture it, write in detail and let us know what is happening to help us make it better so we can get there faster.

23. Can everyone see the mainnet in action like the testnet when it is live?

Adam says, “I believe so yes, it will display. There’s a switch to go between live and testnet.

24. How will maintenance work on mainnet, will there be prior warning?

Adam says that yes, we will give prior warning if it’s scheduled maintenance as far in advance as possible.

25. When will the mobile version be ready?

Adam says that it’s coming out any day. It’s not perfect yet, he says, it has a few issues, but it’s “on the finish line,” it will be out any day now.

26. How do you intend to get enough market flow onto the ladder for the first 20 traders?

Adam says that the mainnet launch is a very very soft launch. He hopes that 20 people won’t break it and we can onboard everyone else as soon as possible. He says that SmartDec knows that there are thousands of people waiting to get in, but don’t expect fireworks on day one.

He ends the AMA thanking everyone for their questions. He says he knows that everyone is keen, and reiterates that we are on track despite some setbacks due to the coronavirus. “We’re doing just peachy with SmartDec, don’t worry, it’s onwards and upwards, cheers guys!”

April 10, 2020
Digitex Futures

AMA with Adam About the Digitex Mainnet Onboarding

admin
mainnet

In case you missed it, Adam held a live AMA today to discuss the mainnet onboarding and answer all your questions. It’s short and sweet as he rapidly got to every single question in a record of just over 20 minutes! If you’ve got the chance, you can check out the recording, or read the summary below.

Adam Answers All Your Questions About Mainnet

Adam starts out the AMA by assuring everyone that, despite some of the rumors, he has a very good relationship with SmartDec. He speaks to them every day and confirms that we’re still on track for mainnet release on April 27. Adam does acknowledge that the coronavirus pandemic hasn’t been completely without its challenges.

For example, he has not been able to get to Moscow. He says that, no matter what people say, there is a difference with remote working, the feedback, being hours behind the developers. He says, “it has slowed us down but they are going to hit the date.”

He goes on to remind everyone that it’s not going to be “fireworks and canapes” on April 27. It’s the onboarding of the first 20 people. After that, SmartDec will gradually add more people as they decide. It’s a development-led decision. He also reassures people he doesn’t have coronavirus either, another rumor that was circulating on Telegram. Then, without further ado, he dives into your questions.

1. I have noticed SmartDec does not bring out any more blog posts, is the relationship between Digitex and SmartDec still good?

Adam confirms that yes, absolutely. There are no problems at all. He says that they are just working hard and says that “they just don’t write blog posts, they’re a development company, it takes time out from what they’re doing.” But he says that he speaks with them daily and is personal friends with the owner. “They’re not going anywhere,” he says.

2. Will the API be active at mainnet?

Adam says that it will not be ready on April 27. It will be a very slow rollout but available soon after.

3. Will stoploss be active at mainnet? It still says coming soon…

Again, Adam says it will be coming soon but probably not on April 27.

4. Regarding the market makers, will they offer liquidity similar to what it is now with greater than 10k contracts per tick or will it be closer to that test period last week where it was around 200-500 contracts per tick?

Adam laughs and says, no, sorry. You won’t see the same crazy sky-high volumes on the mainnet. He says that the idea with the testnet was to put a lot of volume through it to see how the system stood up. So, it won’t be anything like that kind of volume on the mainnet.

5. How will the affiliate system work after the mainnet?

Adam says that this hasn’t been completely decided. He says that the system we have now works by you receiving some DGTX when you refer friends and they also get some DGTX. However, he says that it is a system open to abuse with fake emails so we are still assessing exactly what to do with it and will let you know when we do.

6. It looks like in the last development update report shared yesterday the spot price would get updated. Is that to remove Binance and Bitfinex from the calculation?

Adam says he hasn’t yet spoken specifically with them about this but he believes they have taken the USDT out of it, so it’s USD as USDT isn’t always exactly $1 as it fluctuates slightly.

7. Will the losses from liquidated users be given to the market makers or be used as prize money for the tournaments?

Adam says that the idea for system gains by liquidations is that they go to the insurance fund and get lost by the market makers. He says that when we introduce market maker rebates and see what gains we are making we may allocate money to these things but the idea for now is for the market makers to lose.

8. Is there a solution to the peg system in the works? 

Adam responds by saying “Uhh, the peg system.” He says that not right now, he can’t get his head around how it will work in practice. He says that it sounds great but applying it practically is extremely hard. He is considering other options of how traders can trade without DGTX volatility. He says that this could be through DGTX lending, but we’re not actively working on it now. The key is “getting the mainnet over the line” and then we can work on other things.

10. Can services such as Uniswap or Kyber be used for the spot market function until the actual Digitex Futures exchange spot markets go live? 

Adam says that possibly. He says that we also have Changellywhich has an API to allow you to buy and sell that way. We also have the Digitex Treasury which people can just send an ether payment to and get DGTX back. Although, for selling, traders still need to go to exchanges… But having said that, he says “we have some exchange listings coming up and one of them is pretty decent, so more on that soon.”

11. When is the code freeze happening?

Adam says he doesn’t know the exact date but it will be very soon. The developers are making some last-minute changes because SmartDec wants to send it to audit to people trying to break it apart. It will be very soon, he says.

12. When does marketing work on YouTube?

Adam says that we have some ads on YouTube right now and, in fact, we have ads “all over the place.” He says that we are testing on a small scale so that we can scale up when ready. He confirms that we’re “getting good at it” and says if we can scale results when mainnet is ready for that kind of volume we aim to get 1000 signups a day. “Our marketing game is getting pretty refined now,” he says, “we have 21 people, from brand design, and all aspects you can think of.”

13. Can you elaborate on Digitex DeFi plans?

He laughs and says that he’s not really aware of any specific DeFi plans. Although maybe the lending, if we come out with a system where hodlers can lend to traders. However, that is not in the specs yet nor in the works.

14. Has the earlier KYC information been deleted from the third party company that was involved?

Adam says that he does not know. He says, let’s be honest, data is never deleted. But he says he doesn’t have a contract with that company anymore, and no one from Digitex has access to that company or any data. He doesn’t know if that third party company has deleted it, he thinks they have probably archived it. He would be surprised if they deleted it, but he doesn’t know.

15. Restricting DGTX supply for a growing number of traders would supercharge DGTX price growth. So do you plan to introduce staking rewards for DGTX holders to incentivize them to take as many tokens out of circulation for as long as possible?

Adam says that there are ideas about this but they’re not really staking… He says he has a more concrete idea that is being actively worked on right now and will create more demand for the token and a brand new utility. “It’s very very exciting and that’s all I can say,” he says. He thinks that you will find out in June and you’re “just going to lose your minds.”

16. Will there be a limit on the leverage from the start or is it 100X from day one? 

Adam says he’s not sure if it’s 100x from day one, April 27. He says that we may only start with 20x as we don’t want to mess things up.

17. Have you considered going more than 100x in the future?

Adam says that we haven’t considered that yet as 100x can be “pretty scary in certain conditions.”

18. Will the reporting page/executes trades with realized PnL be updated before launch? I just want a page where I choose a date period and the gains in DGTX and USD value during that time frame.

Adam says that probably won’t be done on April 27 but it is on the list. He says it’s the history page that needs a re-do as it needs to be clearer and better so yes, you will be able to see this soon but it’s not done yet.

19. Is the system for Airdrop tokens turnaround ready from launch (the 1000 tokens that have to be traded X amount of times before withdrawal)?

Adam says that April 27 is the first 20 and according to what SmartDec decides at the rate they decide more people will be added. The first people in will be the ones on the first waitlist, however, the exact way will be detailed in a blog post next week, so keep your eyes open for that.

20. Can the market maker funds be increased as more markets are added? That will help in increasing liquidity in every new market. 100M might run short for 5-20 different markets.

Adam says that this could be true, but the only way we can increase funds is to mint more tokens, so we may not want to do that. He says that we will assess it at the time when we see what the liquidity rates are like. He would prefer more market maker schemes that incentivize users to do it and would like a little bot to incentivize normal people to become market makers and then we wouldn’t have to mint more tokens.

21. In the UK spread betting is tax-free, the only difference between spread and futures being the exchange or bookmaker sets the prices in spread betting. Since DGTX uses its own price oracle which can be changed and adjusted by the exchange would it fall under spread betting here? (IRL & UK)

Adam laughs and says he doesn’t think so. He points out that it is our oracle but we don’t have control of the oracle as were pulling feeds from other exchanges. Also, it’s not the oracle but the price on the futures exchange, so he thinks that trying to convince the taxman that it’s spread betting, probably won’t work but good luck with that.

22. Why are there currently lag issues and will they be fixed for Mainnet?

Adam says that some of the updates have been causing lags, and he knows that they are frustrating, but the developers are aware of it and working on it. Adam says that even April 27 “won’t be the end.” It will still be being worked on. He encourages traders to help us if they please find bugs, to record the screen, capture it, write in detail and let us know what is happening to help us make it better so we can get there faster.

23. Can everyone see the mainnet in action like the testnet when it is live?

Adam says, “I believe so yes, it will display. There’s a switch to go between live and testnet.

24. How will maintenance work on mainnet, will there be prior warning?

Adam says that yes, we will give prior warning if it’s scheduled maintenance as far in advance as possible.

25. When will the mobile version be ready?

Adam says that it’s coming out any day. It’s not perfect yet, he says, it has a few issues, but it’s “on the finish line,” it will be out any day now.

26. How do you intend to get enough market flow onto the ladder for the first 20 traders?

Adam says that the mainnet launch is a very very soft launch. He hopes that 20 people won’t break it and we can onboard everyone else as soon as possible. He says that SmartDec knows that there are thousands of people waiting to get in, but don’t expect fireworks on day one.

He ends the AMA thanking everyone for their questions. He says he knows that everyone is keen, and reiterates that we are on track despite some setbacks due to the coronavirus. “We’re doing just peachy with SmartDec, don’t worry, it’s onwards and upwards, cheers guys!”

Latest News

digitex token

Cryptrader Speaks to Sulla About His DGTX Token Analysis Report

Digitex Futures
• admin
April 9, 2020

In this fascinating podcast, Cryptrader speaks to Digitex community member and investor, Sulla about his recent Medium article, Digitex Futures: Today, Tomorrow. We’d like to extend a huge thank-you to him for taking the time to construct such an extensive report and analysis of the DGTX token. And also to Cryptrader for helping us break down the models and equations he used. Be sure to listen to the logic behind the report and how Sulla arrived at his conclusions of a potential $10 DGTX and beyond.

Digitex Futures: Today, Tomorrow

Cryptrader starts out the podcast by asking Sulla his background and how he got into cryptocurrency and the Digitex project. Sulla is a product design engineer, with a Masters in Mechanical and Manufacturing Engineering. He says that he got into crypto at “the worst time possible,” when a friend showed him all the gains being made, jumping in late 2017.

Sulla says that he picked up some DGTX in the ICO, but everything else he bought “tanked.” He goes on to say that once our token came out on the market, “I started digging into it, saw the green arrows and starting to analyze what I had blindly thrown my money into.” He also says that he’s starting to really investigate and analyze more now that “things are getting exciting” and the mainnet launch is coming up.

Cryptrader and Sulla speak about how much potential the DGTX token has and how much gains it can make. They acknowledge that it can be hard to predict as there are so many models that can be used as well as so many variables to take into account.

Sulla agrees but says that during the long bear market, DGTX has always been his “saving grace” and he wanted to really try to quantify the underlying value of the token. So, he started reading about the Equation of Exchange and philosophy of money and thought it was the right way to show what DGTX can achieve in the future.

Walking Through the DGTX Token Models

They then discuss the Medium post in detail, look at the mathematics used in it, and how it might govern the token price. Sulla believes that the biggest drivers will be the adoption of the exchange, and hodlers creating demand, as well as the balance of traders using DGTX and restricting the supply. The amount of DGTX kept out of circulation by traders and holders will ultimately drive demand. As a compulsory token, you have to buy it to trade, so Sulla says that this will have a huge effect on its price.

He then talks about the size of the futures market and notes that if Digitex captures 10% of the market, that would be extremely bullish: in fact, it would result in a $10 DGTX token price!

He also points out that 10% of the current market isn’t 10% of the future market, as crypto futures is going to grow and grow and will be much bigger moving forward. Cryptrader agrees and says that he believes that one of the main use cases for crypto is speculating on futures.

Both men state that they cannot wait for the mainnet launch to actually utilize these models with empirical data and make real forecasts moving forward. To compile this report, Sulls says that he spent a lot of time reading Telegram channels, speaking to “a lot of smart people who understand what they’re talking about” and digging around in the Beta.

When DGTX Finds Its Use Case

Once the mainnet launches, he says that finally DGTX is going to have a use case and that’s going to have an effect on its price. Traders who want to hold it will affect the price and any new features such as trading bots and staking that will cause demand and raise the token price “will be interesting.”

Sulla admits that he’s more of a speculative investor than a trader. He wants the price of DGTX to go up rather than make gains through trading. He goes on to say that anything that can create demand for tokens, like daily tournaments, will drive the price. “All these ideas seem small, but inch by inch day by day it’s all going to create more demand.”

Digging into the Equations

They then dive deeper into the equations that Sulla has used to calculate DGTX’s possible trajectory. He says that he has used the equation of exchange and traditional monetary economics, so, for the sake of argument, DGTX is viewed as just another money currency. In this way, he has applied the model to DGTX to analyze the balance of supply and demand for the token to consider potential growth and what the key variables are that might drive it.

We definitely recommend listening to the podcast for a deeper explanation, however, Sulla says that the main variables in the DGTX ecosystem are the monetary supply and how much circulating DGTC there are. The monetary supply is key. With DGTX, there are currently 1bn tokens of which around 70-80% of total DGTX in circulation.

This, Sulla points out, will increase to 90% by June 2021 because of the Treasury. However, he says that it’s key to remember that not all this DGTX is moving around. For example, much if it is out of circulation and being held onto by HODLers. Once the mainnet is launched, the DGTX that is being held by traders will also be out of supply. These will influence DGTX’s price as it reduces the supply of DGTX.

He explains how to calculate the Monetray supply (which is basically the total of DGTX minus the sum on trading accounts or locked up in staking and holding). But listen to the podcast to get more details as it’s definitely better straight from the horse’s mouth (so to speak!)

“It basically all boils down to supply and demand and the native token when it goes up it will get so much attention, the price goes up and will draw in more speculators,” Sulla says. The best tool for marketing Digitex once the demand comes in will be the DGTX token itself, he confirms: “that’s the best marketing you can get for Digitex.”

Sulla clarifies that he is not a financial advisor and says that you should do your own research. But he is very bullish on DGTX and sees a $10 DGTX token perfectly within reach. What do you think? Why not let us know your thoughts on Telegram and ask questions if you want to know more. DGTX to the moon!

April 9, 2020
Digitex Futures

Cryptrader Speaks to Sulla About His DGTX Token Analysis Report

admin
digitex token

In this fascinating podcast, Cryptrader speaks to Digitex community member and investor, Sulla about his recent Medium article, Digitex Futures: Today, Tomorrow. We’d like to extend a huge thank-you to him for taking the time to construct such an extensive report and analysis of the DGTX token. And also to Cryptrader for helping us break down the models and equations he used. Be sure to listen to the logic behind the report and how Sulla arrived at his conclusions of a potential $10 DGTX and beyond.

Digitex Futures: Today, Tomorrow

Cryptrader starts out the podcast by asking Sulla his background and how he got into cryptocurrency and the Digitex project. Sulla is a product design engineer, with a Masters in Mechanical and Manufacturing Engineering. He says that he got into crypto at “the worst time possible,” when a friend showed him all the gains being made, jumping in late 2017.

Sulla says that he picked up some DGTX in the ICO, but everything else he bought “tanked.” He goes on to say that once our token came out on the market, “I started digging into it, saw the green arrows and starting to analyze what I had blindly thrown my money into.” He also says that he’s starting to really investigate and analyze more now that “things are getting exciting” and the mainnet launch is coming up.

Cryptrader and Sulla speak about how much potential the DGTX token has and how much gains it can make. They acknowledge that it can be hard to predict as there are so many models that can be used as well as so many variables to take into account.

Sulla agrees but says that during the long bear market, DGTX has always been his “saving grace” and he wanted to really try to quantify the underlying value of the token. So, he started reading about the Equation of Exchange and philosophy of money and thought it was the right way to show what DGTX can achieve in the future.

Walking Through the DGTX Token Models

They then discuss the Medium post in detail, look at the mathematics used in it, and how it might govern the token price. Sulla believes that the biggest drivers will be the adoption of the exchange, and hodlers creating demand, as well as the balance of traders using DGTX and restricting the supply. The amount of DGTX kept out of circulation by traders and holders will ultimately drive demand. As a compulsory token, you have to buy it to trade, so Sulla says that this will have a huge effect on its price.

He then talks about the size of the futures market and notes that if Digitex captures 10% of the market, that would be extremely bullish: in fact, it would result in a $10 DGTX token price!

He also points out that 10% of the current market isn’t 10% of the future market, as crypto futures is going to grow and grow and will be much bigger moving forward. Cryptrader agrees and says that he believes that one of the main use cases for crypto is speculating on futures.

Both men state that they cannot wait for the mainnet launch to actually utilize these models with empirical data and make real forecasts moving forward. To compile this report, Sulls says that he spent a lot of time reading Telegram channels, speaking to “a lot of smart people who understand what they’re talking about” and digging around in the Beta.

When DGTX Finds Its Use Case

Once the mainnet launches, he says that finally DGTX is going to have a use case and that’s going to have an effect on its price. Traders who want to hold it will affect the price and any new features such as trading bots and staking that will cause demand and raise the token price “will be interesting.”

Sulla admits that he’s more of a speculative investor than a trader. He wants the price of DGTX to go up rather than make gains through trading. He goes on to say that anything that can create demand for tokens, like daily tournaments, will drive the price. “All these ideas seem small, but inch by inch day by day it’s all going to create more demand.”

Digging into the Equations

They then dive deeper into the equations that Sulla has used to calculate DGTX’s possible trajectory. He says that he has used the equation of exchange and traditional monetary economics, so, for the sake of argument, DGTX is viewed as just another money currency. In this way, he has applied the model to DGTX to analyze the balance of supply and demand for the token to consider potential growth and what the key variables are that might drive it.

We definitely recommend listening to the podcast for a deeper explanation, however, Sulla says that the main variables in the DGTX ecosystem are the monetary supply and how much circulating DGTC there are. The monetary supply is key. With DGTX, there are currently 1bn tokens of which around 70-80% of total DGTX in circulation.

This, Sulla points out, will increase to 90% by June 2021 because of the Treasury. However, he says that it’s key to remember that not all this DGTX is moving around. For example, much if it is out of circulation and being held onto by HODLers. Once the mainnet is launched, the DGTX that is being held by traders will also be out of supply. These will influence DGTX’s price as it reduces the supply of DGTX.

He explains how to calculate the Monetray supply (which is basically the total of DGTX minus the sum on trading accounts or locked up in staking and holding). But listen to the podcast to get more details as it’s definitely better straight from the horse’s mouth (so to speak!)

“It basically all boils down to supply and demand and the native token when it goes up it will get so much attention, the price goes up and will draw in more speculators,” Sulla says. The best tool for marketing Digitex once the demand comes in will be the DGTX token itself, he confirms: “that’s the best marketing you can get for Digitex.”

Sulla clarifies that he is not a financial advisor and says that you should do your own research. But he is very bullish on DGTX and sees a $10 DGTX token perfectly within reach. What do you think? Why not let us know your thoughts on Telegram and ask questions if you want to know more. DGTX to the moon!

Latest News

Social Media

Meet Digitex’s Social Media Manager Eugene Chygyryn

Digitex Futures
• admin
April 8, 2020

From development to customer service and marketing, the Digitex team is expanding continually. We’ve been working hard on building a world-class product and now it’s time to ensure we have talented people to spread the word, offer support, and help Digitex become the number-one crypto derivatives platform. This week, meet our new Social Media Manager Eugene Chygyryn and find out what he’ll be doing for us.

Meet Eugene Chygyryn Our New Social Media Manager

Interestingly for someone now involved in digital marketing and social media, Eugene has an extensive background in Linguistics. He’s fully fluent in English, Spanish, and Russian. But he says, “Since I got into crypto in 2014, I started working as a Community Manager for a crypto fintech startup.” And, like everyone else, he never looked back. “The Crypto community was super nice and supportive,” he enthuses.

Eugene is currently managing Digitex’s social media including our Twitter, Facebook, YouTube, and Instagram accounts. His goal is to help improve organic traffic growth and analyze our analytics to find out where our traffic comes from and the types of content that increase engagement and conversions.

Despite monitoring Digitex’s most popular social platforms, however, he says that his favorite platform is Quora because “It’s a great Q&A platform and I find it really cool that people can share their life and professional experiences by answering other people’s questions. It’s very similar to how we do it in real life. But, when it comes to Digitex, for now our focus is on the major platforms like Twitter, Facebook, YouTube, and Instagram, Quora is more niche social network.”

What a Typical Day Looks Like for Eugene

Beyond managing the social platforms’ strategy, Eugene is also working hard at bringing more influencers’ attention to Digitex. “That’s basically what I do 70% of my time,” he laughs. I ask him what the most important considerations are to keep in mind are when it comes to organizing a company’s social media strategy. He says, “You can’t improve what you can’t measure – so, it’s analytics first, then, experiment a lot. Always keep in mind that social media is driven by people, not algorithms. Common sense is king.”

Right now, Eugene’s main goals are focused on improving our engagement rate and overall content reach until the mainnet launch onboarding starts on April 27. After that, he’ll be working with a different set of KPIs that include how many traders convert from our social platforms. When it comes to traffic, he says, “Speaking about organic traffic, Twitter and YouTube definitely get more hits, they share first place.”

What about his personal goals for the company? Where does Eugene see Digitex in the next six months and what does he hope to achieve? He says, “My personal goal is for Digitex to break into the top three futures exchanges by social metrics in the next six months. Also, I believe that the success of Digitex will make commission-free trading a new industry standard, giving ordinary people equal chances to compete with pro traders.”

So, how did he get into cryptocurrency in the first place and what does he like about it the most? “Back in 2014 when I bought some ETH, I was surprised by how fast and hassle-free I was able to transact funds to my brother in eastern Russia.” When it comes to the Digitex project, he says that he’s fascinated with the product and its super talented team. “I’m a hobby trader and I’m really excited to finally see something new in the space,” he says.

In his spare time, Eugene likes to spend more time online but instead of Facebook and Twitter, he likes to dedicate some time to trading, playing offline poker, oh, and, of course, blogging on Quora. In fact, he runs the biggest crypto community on Quora called Quora Inner Circle, so you should check it out if you get the chance.

Wrapping It Up

Many thanks to Eugene for letting us get to know a bit more about him. We’re excited to have him on board as a key professional specialized in the social media and cryptocurrency space. We also look forward to seeing our social footprint grow and taking Digitex to the next level from mainnet and beyond.

Finally, a big thank-you to our loyal community for your continued support as always. If you have any tips for Eugene, feel free to DM him and chat. We’re always open to your suggestions and we love to hear your feedback. And if you want to partner with us, we’d love to work with you.

April 8, 2020
Digitex Futures

Meet Digitex’s Social Media Manager Eugene Chygyryn

admin
Social Media

From development to customer service and marketing, the Digitex team is expanding continually. We’ve been working hard on building a world-class product and now it’s time to ensure we have talented people to spread the word, offer support, and help Digitex become the number-one crypto derivatives platform. This week, meet our new Social Media Manager Eugene Chygyryn and find out what he’ll be doing for us.

Meet Eugene Chygyryn Our New Social Media Manager

Interestingly for someone now involved in digital marketing and social media, Eugene has an extensive background in Linguistics. He’s fully fluent in English, Spanish, and Russian. But he says, “Since I got into crypto in 2014, I started working as a Community Manager for a crypto fintech startup.” And, like everyone else, he never looked back. “The Crypto community was super nice and supportive,” he enthuses.

Eugene is currently managing Digitex’s social media including our Twitter, Facebook, YouTube, and Instagram accounts. His goal is to help improve organic traffic growth and analyze our analytics to find out where our traffic comes from and the types of content that increase engagement and conversions.

Despite monitoring Digitex’s most popular social platforms, however, he says that his favorite platform is Quora because “It’s a great Q&A platform and I find it really cool that people can share their life and professional experiences by answering other people’s questions. It’s very similar to how we do it in real life. But, when it comes to Digitex, for now our focus is on the major platforms like Twitter, Facebook, YouTube, and Instagram, Quora is more niche social network.”

What a Typical Day Looks Like for Eugene

Beyond managing the social platforms’ strategy, Eugene is also working hard at bringing more influencers’ attention to Digitex. “That’s basically what I do 70% of my time,” he laughs. I ask him what the most important considerations are to keep in mind are when it comes to organizing a company’s social media strategy. He says, “You can’t improve what you can’t measure – so, it’s analytics first, then, experiment a lot. Always keep in mind that social media is driven by people, not algorithms. Common sense is king.”

Right now, Eugene’s main goals are focused on improving our engagement rate and overall content reach until the mainnet launch onboarding starts on April 27. After that, he’ll be working with a different set of KPIs that include how many traders convert from our social platforms. When it comes to traffic, he says, “Speaking about organic traffic, Twitter and YouTube definitely get more hits, they share first place.”

What about his personal goals for the company? Where does Eugene see Digitex in the next six months and what does he hope to achieve? He says, “My personal goal is for Digitex to break into the top three futures exchanges by social metrics in the next six months. Also, I believe that the success of Digitex will make commission-free trading a new industry standard, giving ordinary people equal chances to compete with pro traders.”

So, how did he get into cryptocurrency in the first place and what does he like about it the most? “Back in 2014 when I bought some ETH, I was surprised by how fast and hassle-free I was able to transact funds to my brother in eastern Russia.” When it comes to the Digitex project, he says that he’s fascinated with the product and its super talented team. “I’m a hobby trader and I’m really excited to finally see something new in the space,” he says.

In his spare time, Eugene likes to spend more time online but instead of Facebook and Twitter, he likes to dedicate some time to trading, playing offline poker, oh, and, of course, blogging on Quora. In fact, he runs the biggest crypto community on Quora called Quora Inner Circle, so you should check it out if you get the chance.

Wrapping It Up

Many thanks to Eugene for letting us get to know a bit more about him. We’re excited to have him on board as a key professional specialized in the social media and cryptocurrency space. We also look forward to seeing our social footprint grow and taking Digitex to the next level from mainnet and beyond.

Finally, a big thank-you to our loyal community for your continued support as always. If you have any tips for Eugene, feel free to DM him and chat. We’re always open to your suggestions and we love to hear your feedback. And if you want to partner with us, we’d love to work with you.

Latest News

Crypto Futures

A Look at the Crypto Futures Markets After the March Mayhem

Digitex Futures
• admin
April 7, 2020

It’s nearly four weeks since the market panic generated by the COVID-19 crisis caused Bitcoin to suffer its biggest single-day price drop since 2013. In the intervening period, the price of BTC and other major cryptos have shown some signs of a solid recovery. But the crash, and the resulting impact on futures traders, appear to have precipitated some intriguing changes in the markets. 

Crypto Futures – Let’s Briefly Recap

Bitcoin’s price had started to fall from its monthly high of $9,100 around Friday, March 6. However, on March 12, it crashed from $7,900 to below $5k in the space of around 24 hours.

Because Bitcoin’s price had been rising for most of the year before this event, traders had evidently, and understandably, been skewed to the bullish side. So, this sudden, dramatic drop meant that in many cases, they couldn’t exit their positions quickly enough. On March 12 and 13 alone, BitMEX liquidated positions over $1.5 billion – and that was just for its XBTUSD contracts.

Market volatility will always result in liquidations – it’s the nature of futures trading. But BitMEX came under fire from several quarters of the cryptocurrency community because its platform had gone down twice during that day, for a total of 44 minutes. The company stated it was due to a hardware issue with its cloud service provider, but several members of crypto-Twitter accused them of having “hit the kill switch” as a means of controlling price. For its part, BitMEX denied this.

Whether the outages were within BitMEX’s control or not, we will probably never know, and Digitex isn’t going to speculate. However, now that we are nearly four weeks on from the price crash, there appear to be some interesting trends emerging.

Visible Trends

Crypto futures exchanges can be broadly categorized into two groups – pure-play futures platforms, and spot exchanges that branched out into futures. In the first category, BitMEX dominates, and the others, including Deribit, Bybit, and FTX, are significantly smaller in terms of daily volume and open interest.

In the second category, OKEx and Huobi are the biggest. Binance launched its derivatives trading platform last year, but until now, it hasn’t managed to achieve the same trading volumes as its competitors.

On closer examination of the charts provided by data aggregator Skew, it appears that there’s something of a shift in the markets.

As you’d expect, open interest took a severe hit across the board following the events on March 12. This is visible on the Skew chart below, showing total open interest across all platforms for the last six months.

A Look at the Crypto Futures Markets After the March Mayhem 1

Since the big dip on March 12, there is a gradual incline, indicating that the markets are starting to recover, albeit tentatively.

However, when we drill down to the individual platform level, it seems to indicate that some exchanges are benefitting from this recovery more than others. For example, BitMEX has seen very little increase in open interest since the crash.

A Look at the Crypto Futures Markets After the March Mayhem 2

OKEx has fared slightly better.

A Look at the Crypto Futures Markets After the March Mayhem 3

But the smaller exchanges are showing a far steeper recovery curve. For example, check out Bybit.

A Look at the Crypto Futures Markets After the March Mayhem 4

FTX barely registered the dip before open interest recovered.

A Look at the Crypto Futures Markets After the March Mayhem 5

The patterns on daily trading volume are a little less apparent but seem to point to a similar trend. The chart below shows daily trading volumes on BitMEX over the last three months.

A Look at the Crypto Futures Markets After the March Mayhem 6

The two spikes in mid-March represent volumes on March 12 and 13, and it’s evident that overall volume on BitMEX hasn’t recovered to pre-crash levels.

Compare this with the chart below, which shows aggregated trading volumes from four smaller exchanges – bitFlyer, Deribit, Bybit, and FTX.

A Look at the Crypto Futures Markets After the March Mayhem 7

Although they’ve seen lower volumes in the past few weeks, in general, trading volume hasn’t fallen below the levels seen before the crash in the same way as BitMEX.

These trends appear to point to a market shift, where traders are choosing to diversify away from market leaders like BitMEX and into newer, smaller exchanges.

Why a Diverse Trading Ecosystem Matters

At Digitex, we believe this shift towards diversification is great news for several reasons. Firstly, oligopolies are bad for markets. They create a few central points of failure, going against the very principle of decentralization, which is dear to so many in the cryptocurrency space.

Furthermore, a thriving ecosystem of exchanges stimulates innovation. It gives traders a broad choice of products with which they can create a diverse portfolio and test a variety of trading strategies.

Of course, traders showing an appetite for new and innovative ways to trade is great news for Digitex too, as we move closer to onboarding our first group of 20 live traders on April 27! Our zero-fee trading model is unique in the cryptocurrency space, designed to create more winning traders by removing the mechanical edge eating into trader’s profits.

Market volatility notwithstanding, traders have every right to question the status quo, which comprises a few big players offering a sub-par user experience for which their users pay dearly.

And as new exchanges like Digitex enter the market with innovative new business models and a platform with a killer UI that can withstand insane volume, traders will vote with their feet.

April 7, 2020
Digitex Futures

A Look at the Crypto Futures Markets After the March Mayhem

admin
Crypto Futures

It’s nearly four weeks since the market panic generated by the COVID-19 crisis caused Bitcoin to suffer its biggest single-day price drop since 2013. In the intervening period, the price of BTC and other major cryptos have shown some signs of a solid recovery. But the crash, and the resulting impact on futures traders, appear to have precipitated some intriguing changes in the markets. 

Crypto Futures – Let’s Briefly Recap

Bitcoin’s price had started to fall from its monthly high of $9,100 around Friday, March 6. However, on March 12, it crashed from $7,900 to below $5k in the space of around 24 hours.

Because Bitcoin’s price had been rising for most of the year before this event, traders had evidently, and understandably, been skewed to the bullish side. So, this sudden, dramatic drop meant that in many cases, they couldn’t exit their positions quickly enough. On March 12 and 13 alone, BitMEX liquidated positions over $1.5 billion – and that was just for its XBTUSD contracts.

Market volatility will always result in liquidations – it’s the nature of futures trading. But BitMEX came under fire from several quarters of the cryptocurrency community because its platform had gone down twice during that day, for a total of 44 minutes. The company stated it was due to a hardware issue with its cloud service provider, but several members of crypto-Twitter accused them of having “hit the kill switch” as a means of controlling price. For its part, BitMEX denied this.

Whether the outages were within BitMEX’s control or not, we will probably never know, and Digitex isn’t going to speculate. However, now that we are nearly four weeks on from the price crash, there appear to be some interesting trends emerging.

Visible Trends

Crypto futures exchanges can be broadly categorized into two groups – pure-play futures platforms, and spot exchanges that branched out into futures. In the first category, BitMEX dominates, and the others, including Deribit, Bybit, and FTX, are significantly smaller in terms of daily volume and open interest.

In the second category, OKEx and Huobi are the biggest. Binance launched its derivatives trading platform last year, but until now, it hasn’t managed to achieve the same trading volumes as its competitors.

On closer examination of the charts provided by data aggregator Skew, it appears that there’s something of a shift in the markets.

As you’d expect, open interest took a severe hit across the board following the events on March 12. This is visible on the Skew chart below, showing total open interest across all platforms for the last six months.

A Look at the Crypto Futures Markets After the March Mayhem 8

Since the big dip on March 12, there is a gradual incline, indicating that the markets are starting to recover, albeit tentatively.

However, when we drill down to the individual platform level, it seems to indicate that some exchanges are benefitting from this recovery more than others. For example, BitMEX has seen very little increase in open interest since the crash.

A Look at the Crypto Futures Markets After the March Mayhem 9

OKEx has fared slightly better.

A Look at the Crypto Futures Markets After the March Mayhem 10

But the smaller exchanges are showing a far steeper recovery curve. For example, check out Bybit.

A Look at the Crypto Futures Markets After the March Mayhem 11

FTX barely registered the dip before open interest recovered.

A Look at the Crypto Futures Markets After the March Mayhem 12

The patterns on daily trading volume are a little less apparent but seem to point to a similar trend. The chart below shows daily trading volumes on BitMEX over the last three months.

A Look at the Crypto Futures Markets After the March Mayhem 13

The two spikes in mid-March represent volumes on March 12 and 13, and it’s evident that overall volume on BitMEX hasn’t recovered to pre-crash levels.

Compare this with the chart below, which shows aggregated trading volumes from four smaller exchanges – bitFlyer, Deribit, Bybit, and FTX.

A Look at the Crypto Futures Markets After the March Mayhem 14

Although they’ve seen lower volumes in the past few weeks, in general, trading volume hasn’t fallen below the levels seen before the crash in the same way as BitMEX.

These trends appear to point to a market shift, where traders are choosing to diversify away from market leaders like BitMEX and into newer, smaller exchanges.

Why a Diverse Trading Ecosystem Matters

At Digitex, we believe this shift towards diversification is great news for several reasons. Firstly, oligopolies are bad for markets. They create a few central points of failure, going against the very principle of decentralization, which is dear to so many in the cryptocurrency space.

Furthermore, a thriving ecosystem of exchanges stimulates innovation. It gives traders a broad choice of products with which they can create a diverse portfolio and test a variety of trading strategies.

Of course, traders showing an appetite for new and innovative ways to trade is great news for Digitex too, as we move closer to onboarding our first group of 20 live traders on April 27! Our zero-fee trading model is unique in the cryptocurrency space, designed to create more winning traders by removing the mechanical edge eating into trader’s profits.

Market volatility notwithstanding, traders have every right to question the status quo, which comprises a few big players offering a sub-par user experience for which their users pay dearly.

And as new exchanges like Digitex enter the market with innovative new business models and a platform with a killer UI that can withstand insane volume, traders will vote with their feet.

Latest News