Digitex Futures | The Utopian dream of zero fees on futures trading is finally here

Good morning friends, this is Bait and I will be talking about Digitex Futures exchange today. The target of this post is the number of people that haven’t come across my posts on this exchange for the last few weeks. So before I go on, I would like to make you understand that;

Digitex Futures Exchange is a zero commission Bitcoin futures trading platform that uses the means of blockchain technology to get rid of the conventional transaction charges. Trading features could be tiring if we are constantly faced with the situation whereby, transaction charges neutralize our profits. So with the exchange called Digitex Futures, the Utopian dream of being able to trade without any fees at all is finally here;

It is important to know how this would work in real time. I have been asked on several occasions how Digitex will carry this model out and make it work in the face of a volatile cryptocurrency market or financial markets in constant demand for long-term duration. This is very simple. Digitex solved this by creating a token that has utility embedded in the fact that trades go without commissions. Traders demand for this token and in turn, the token will gain value in the same proportion of the demand made for it.

Well, it is important to know that traders will not be able to use the exchange without buying Digitex token. Yes, so for traders to be able to trade commission free, they must own some measure of the native currency of Digitex Futures (the instrument for all trade and commerce within the Digitex ecosystem). In one word, traders must own DGTX token if they want to benefit and be a part of this Utopian dream. :-)

The token is responsive to demand and its value to a great extent will be a function of a couple of things basically;

• The amount of DGTX in circulation.
• The demand from traders who must own DGTX.

DGTX in circulation and Demand by traders

There’s a total of 1 billion DGTX token in circulation source out of which 65% is up for sale; 20% is allotted to market makers (bots); 10% for staffs and team of advisors; 5% will go up for referrals and airdrop campaigns. That will be the manners in which the token will be distributed and after the first three years there will be a need to mint more token to meet the need of the Digitex team. This will necessitate the system to call for a voting process by the traders to decide the quantity of DGTX tokens to be minted for that purpose. As for the demand for DGTX, this will have a positive relationship with the value of the token based on the fundamental principle that demand signals value and which will in turn lead to increase in price of a commodity; which is in this case, DGTX token.

The voting process for minting DGTX tokens

After the initial three years of launch where 10% of the ICO money took care of the cost of maintaining the exchange, there will be a need to mint more tokens by 2021 to keep the system running in terms of payment of salaries and fostering development. The process of minting the token will be controlled by the influence of traders in form of the token they possess. The higher the number of token an individual owns, the higher his/her influence during the voting process. The process will call for a lot of attention from each trader and will also be time consuming so there will be a need for a trader to delegate such responsibilities to other traders who will have enough time to participate actively in the process. However, such traders must choose the delegatee carefully based on the level of trust and confidence they have in such. Watch the video below to help enhance your understanding of this;