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.