Digitex Future Exchange
Introduction
Buying and selling has posed a lot of difficulties. More especially when it involves conversion of one currency to another, high cost of prices etc. Even when prices are affordable transaction fees are inevitable when purchasing the desired item, thereby creating a bridge in the future market. More so, loses has been incurred by traders during the process as a result of high currency exchange coupled with transaction fees.
As a result of these challenges some traders have withdrawn from purchases involving high prices and exchange rates in order to save for the future and avoid transaction charges.
Unlike any other cryptocurrency Digitex Future Exchange is giving the global market a turn around with intriguing features and facilities to curb loses and placing guarantee in the future market.
What is Digitex?
"Digitex is a commission-free futures
exchange that covers operational costs by
minting its own native currency, the DGTX
token, instead of charging transaction fees
on trades."
The blockchain is aimed at improving the global market and future trades by reducing friction and costs and providing solutions to traders who might have incurred loses of different sort during currency transaction and exchange through its own native currency DGTX TOKEN.
It is a transaction-free blockchain enhancing the flow of future market and putting an end to transaction charges. This is achieved through the introduction of DGTX token(its native currency). Traders who purchase this token can carry out transaction-free charges and are advised to renew to continue with the benefits.
How does it stay Operational and Who pays the Maintenance?
The blockchain stays operational through token renewal (i.e issuance and sale of new currency)instead of transaction charges keeping the cryptocurrency market in a free flow. Creation of new DGTX tokens after approximately 2 years that allows
the exchange to operate without needing to charge transaction fees.
Maintenance is achieved on continual operation and trading of DGTX token which rest on the traders through their decisions by voting.
So it is of wise thought for every DGTX trader to
• Keep the DIGITEX Future Exchange in motion
• And also to abscond from creating new currency
Decentralized Account Balances
History have shown exchanges in the past where funds and assets were stolen as a result of users not in control of their private key.
Adam Todd, CEO
We want to decentralize account
balances,
and allow traders to be able to use
our exchange in a lifetime trading
environment.
This means that DGTX token holders will be allowed to hold their private key in order to control their funds and assets. Which is aimed at achieving a fraud free blockchain.
which means history cannot repeat itself.
The Future Of Futures With Digitex
what are Futures?
"Futures are a promise/contract to buy something at a specific date - a standardized asset or commodity (apples, oranges, etc), at a specific price."
Investopedia Definition:
"A futures contract is a legal agreement to buy or sell a particular commodity or asset at a predetermined price at a specified time in the future. Futures contracts are standardized for quality and quantity to facilitate trading on a futures exchange."
Futures play crucial role in maintaining the stability of volatile markets in the likes of commodity which could vary in seasons and cryptocurrency.
Digitex is a self-sustaining blockchain and with a growing economy. Digitex is in a good position to take over the global/future market. Tending to attract users with the transaction free trade with a decentralized account balances.
Futures Contract Specifications
The exchange will launch with the following 3 futures contracts: BTC/USD, ETH/USD
& LTC/USD.
Futures Contract: BTC/USD (Bitcoin against the US Dollar)
Tick size (minimum price increment): $5 USD
Tick value: 1 DGTX
Taker/Maker Fee: 0%
Funding Costs: 0%
Initial Margin: 20 DGTX
Maintenance Margin: 10 DGTX
Contract Type: Contract For Difference (CFD)
Contract Duration: 24 Hours
Settlement Date: Daily at 00:00 GMT
Settlement Price: BitcoinAverage.com spot price of BTC/USD at 00:00 GMT,
rounded up or down to the nearest $5.
Settlement Process: Cash settled in DGTX tokens at Settlement Price.
All open positions remain open by being rolled over into the new contract which
opens at 00:00 GMT.
Futures Contract: ETH/USD (Ethereum against the US Dollar)
Tick size (minimum price increment): $1 USD
Tick value: 1 DGTX
Taker/Maker Fee: 0%
Funding Costs: 0%
Initial Margin: 20 DGTX
Maintenance Margin: 10 DGTX
Contract Type: Contract For Difference (CFD)
Contract Duration: 24 Hours
Settlement Date: Daily at 00:00 GMT
Settlement Price: BitcoinAverage.com spot price of ETH/USD at 00:00 GMT,
rounded up or down to the nearest $1.
Settlement Process: Cash settled in DGTX tokens at Settlement Price.
All open positions remain open by being rolled over into the new contract which
opens at 00:00 GMT.
Futures Contract: LTC/USD (Litecoin against the US Dollar)
Tick size (minimum price increment): $0.25 USD
Tick value: 1 DGTX
Taker/Maker Fee: 0%
Funding Costs: 0%
Initial Margin: 20 DGTX
Maintenance Margin: 10 DGTX
Contract Type: Contract For Difference (CFD)
Contract Duration: 24 Hours
Settlement Date: Daily at 00:00 GMT
Settlement Price: BitcoinAverage.com spot price of LTC/USD at 00:00 GMT,
rounded up or down to the nearest $0.25.
Settlement Process: Cash settled in DGTX tokens at Settlement Price.
All open positions remain open by being rolled over into the new contract which
opens at 00:00 GMT.
Digitex use-case
Case 1
BTC/USD Trade on Digitex Futures Exchange
• Bob is a short term, trend following Bitcoin trader. He sees the price of BTC/
USD start to rise and he jumps on by buying 500 BTC/USD futures contracts
with a single click of the mouse that are being offered for sale at $10,700.
• The price rises quickly and then starts to come down so Bob immediately hits
the bid and sells 500 contracts at $10,720 with a single click of the mouse.
• The tick size of the BTC/USD futures contract is $5 so Bob has made a profit of
4 ticks on a 500 contract position which is a 2,000 tick profit. 1 tick is worth
1 DGTX so he has made a profit of 2,000 DGTX.
• The current market price of 1 DGTX token is USD $0.10 so Bob’s profit is
2,000 DGTX × $0.10 = $200.
• Bob’s initial margin requirement to open his trade was 500 × 20 DGTX =
10,000 DGTX ($1,000). He needed this much in his account to be able to enter
the trade. His account balance is held by an independent smart contract, not by
the exchange.
• There are zero transactions fees on all trades so Bob’s profit of $200 after
commission is $200.
Source: Digitex blog
Case 2
ETH/USD Trade on Digitex Futures Exchange
• The price of ETH starts dropping so Alice, a short term scalper, hits the bid and
sells 250 ETH/USD futures contracts at $502 with a single click of the mouse.
• The price drops to $501 offered and stays there for 20 seconds so Alice decides
the move down has run out of momentum and she buys 250 contracts at $501
with a single click of the mouse.
• The tick size of the ETH/USD futures contract is $1. Alice has made a profit of
1 tick on a 250 contract position which is a 250 tick profit. 1 tick is worth
1 DGTX so she has made a profit of 250 DGTX.
• The current price of 1 DGTX is USD $0.10 so Alice’s profit is 250 DGTX ×
$0.10 = $25.
• Alice’s initial margin requirement to open her trade was 250 × 20 DGTX =
5,000 DGTX ($500). She needed this much in her account to be able to enter
the trade. Her account balance is held by an independent smart contract, not by
the exchange.
• There are zero transactions fees on all trades so Alice’s profit of $25 after
commission is $25.
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The above comparison showcases how traders will be affected by a transaction free market.
There's more profit return in Digitex Future Exchange than other cryptocurrencies(e.g cryptofacilities, Bitmex etc) after commission.
Making Digitex Future Exchange incomparable with other crypto and others unusable.
Features, Impacts and Benefits
- Zero Trading Fees
- Decentralized Account Balances
- No Auto Deleveraging
- Digitex Native Currency
- Bitcoin, Ethereum & Litecoin Futures
- High Leverage
- Decentralized Governance by Blockchain
- Complete Privacy
- Blockchain Driven
Etc.
Zero trading fee
This implies the blockchain is operating on a transaction fee free. Which means no charges on currency market.
Decentralized account balances
Digitex Future Exchange an avenue for account, funds and assets management without the involvement of any third party.
No Auto Deleveraging
Digitex is not a selfish blockchain that incures only profit at the detriment of the users.
Its a win-win cryptofacility where everybody is a winner.
Digitex native currency
Digitex Future Exchange has its own native currency called DGTX token.
This means that all transactions, profit and loses, margin requirements, account balances and withdrawals are all denominated with DGTX token.
Bitcoin, Ethereum and Litecoin Futures
Digitex has three futures markets:
•BTC/USD,
•ETH/USD and
•LTC/USD.
Each futures contract has a large tick size, which eliminates a lot of noise and allows prices to be displayed on a one click ladder style trading interface, even in volatile market
conditions. Tick values of futures contracts are denominated in DGTX tokens, meaning that all profits and losses are settled in DGTX tokens.
High Laverage
Digitex markets offer traders very high leverage of up to 100×, allowing them to discern good and large percentage gains (and losses) from relatively small price movements. Unlike other cryptocurrency exchanges, Digitex does not cancel your winning trade to protect itself from losses if your counterparty’s losing position gets stopped out because he was too highly leveraged.
Decentralized Governance by Blockchain
Digitex users are given the corum to decide on when, if and how many new tokens are issued to cover the costs of operating the futures exchange.
Complete privacy
Traders on digitex are not required to submit any name, documents or identity of any sort. The trading is totally an offshore base which requires only the DGTX token.
Making the blockchain free from hackers and theft because there's nothing to hack or steal.
Blockchain Driven
Digitex is driven by blockchain technology with the use of its own native currency DGTX token to trash transaction fee in market.
And also allowing its traders to determine the rate of new token issuance, everything that makes Digitex revolutionary is only made possible by embracing the disruptive power of new blockchain technology that until very
recently didn’t even exist.
Conclusion
The Digitex Futures Exchange is a revolutionary new futures exchange model that
mints its own native cryptocurrency to replace the need for transaction fees on
trades. Commission-free trading will create highly liquid futures markets by
attracting high volume, short term traders whose trading strategies are not viable on
other exchanges due to commissions. As cryptocurrency prices rise, percentage
based transaction fees on other exchanges will also rise, further increasing the
appeal of a commission-free futures exchange.
Commission-free markets create demand for DGTX tokens which more than offsets
the inflationary cost of creating that demand.
Traders on Digitex can participate in liquid, commission-free markets without
needing to trust the exchange with custody of their funds, further differentiating the
exchange from the traditional exchanges that require traders to relinquish full
control of their account balances to a central third party that can potentially freeze/
mismanage/lose those funds.
Through Decentralized Governance by Blockchain (DGBB), new token issuance
for the purpose of revenue generation is run democratically by DGTX token owners.
Highly liquid, commission-free futures markets on a stable, fast and trustless
trading platform, during a period of exponential growth in cryptocurrency trading,
will attract a large number of traders, creating huge demand for DGTX tokens. As
the price of DGTX tokens increases the exchange must create fewer tokens to cover
costs, thereby reducing the inflationary cost of creating new tokens.
More Information & Resources of Digitex:
Digitex Website
Digitex WhitePaper
Digitex Blog
Digitex Telegram
Digitex Reddit
Digitex Facebook
Digitex Twitter
Digitex YouTube
Blog-Page
My Twitter link
https://twitter.com/Dklasicboy/status/1041020141482532865?s=19
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