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Digitex Futures is a commission-free, zero-fee cryptocurrency futures exchange. The platform allows users to trade futures contracts for both Bitcoin (BTC) and Ether (ETH), and according to its white paper, it intends to expand to also include Litecoin (LTC). Because it doesn't charge users fees, Digitex Futures seeks to provide an environment for fast-paced day trading and scalping.
Digitex Futures is powered by an Ethereum-issued utility token, DGTX, which is used as the platform's native denomination for all balances, profits and losses.
Digitex Futures was founded in 2017 by Adam Todd, a former trader and professional bettor. He has said that his experience scalping in trading pits led him to want to create a digital version of that fast-paced experience.
Todd started his career as a pit trader at the London International Financial Futures and Options Exchange. He later made his living trading futures contracts and German government bonds, as well as betting on horse races on the peer-to-peer betting exchange Betfair. In 2004, founded the company RacingTraders, which developed a software interface called BetTrader for betting and trading on Betfair.
Digitex Futures differentiates itself from other exchanges by not charging fees, not taking a commission on trades and not performing Know Your Customer verification procedures. It has claimed that this "new model" will attract both novice and experienced traders alike.
According to Digitex, the exchange does not need to charge fees because it uses a utility token, DGTX, to denominate all trading activity and to self-fund the platform. It expects that as more traders use Digitex Futures, the value of DGTX will increase, thus sustaining the project's revenue stream as it continues to sell DGTX.
The exchange uses automated market makers designed to purposefully lose money in order to provide liquidity and increase the earnings of traders. The market makers are funded by profits gained during forced position liquidations of traders whose accounts fall below the required maintenance margin.
The business plan of Digitex Futures is to rebrand itself as Digitex City in December 2020 and expand to include features such as spot trading and staking, as well as a social network and gaming section. According to the Digitex City white paper, the expanded platform will operate using a new dollar-pegged stablecoin, DUSD, which can only be created by locking up DGTX tokens.
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Digitex Futures has no maximum token supply, but its initial total supply was 1 billion DGTX. Of these tokens, 65% was allocated to the public for sale, 5% to fund a referral program, 10% to an insurance and market makers fund, 10% to the Digitex Treasury for continued sale and 10% to the Digitex team.
DGTX tokens have been made available for sale in a three-phase process.
First, Digitex sold 650 million DGTX during an initial coin offering in January 2018, raising $5.2 million. Second, the company set up a distribution platform called the Digitex Treasury, a smart contract in which 100 million DGTX has been locked to be released and sold quarterly in batches of 10 million tokens each, with sales running from March 2019 through June 2021. These tokens are sold at a slight premium compared with exchange spot prices, and the income generated is used to fund the ongoing development and marketing of Digitex. Third, starting in 2022, DGTX token holders can vote to mint and sell more tokens to raise further funds and increase supply, if desired.
Digitex Futures is privately owned, so it is itself responsible for ensuring the security of its networks. In March 2019, the company announced it was partnering with SmartDec, a smart-contract auditing and security company, to help build its platform. However, in March 2020, Digitex reported that it had suffered an internal data breach in which emails and Know Your Customer information was stolen. In response, in addition to tightening its security, the company ceased all KYC verification.
User balances, however, are held in smart contracts rather than by the exchange itself. And because everything is denominated in DGTX, an ERC-20 token (as of October 2020), all on-chain transactions are secured by the Ethereum network using its Ethash proof-of-work consensus algorithm. This means that miners compete among each other to add new blocks to the blockchain, and a majority of all nodes in the network must confirm a record for it to be posted.
In May 2020, Digitex Futures announced it had undergone audits by security company Penetration Lab and blockchain researcher Igor Gulamov, both of which discovered no critical vulnerabilities. It also revealed that it had hired its own internal security engineer to test its networks and products for vulnerabilities.
DGTX can be purchased on spot markets on cryptocurrency exchanges such as KuCoin, Uniswap (V2), ProBit Exchange and CoinEx, among others. It can be traded against fiat currencies such as the U.S. dollar and Indian rupee, cryptocurrencies such as Bitcoin and Ether, and the stablecoin Tether (USDT).
DGTX can also be purchased directly from Digitex Futures via the Digitex Treasury.
|Preço de Digitex Token||$0.006227|
|24h Low / 24h High|
|Market Dominance||Sem Dados|
|Ranking no mercado||#756|
|Cap. de Mercado||$5,797,215.72|
|Fully Diluted Market Cap||Sem Dados|
|Yesterday's Low / High|
|Abertura / Fechamento de ontem|
|Mudança de ontem|
|Volume de ontem||$4,162,506.63|
|7d Low / 7d High|
|30d Low / 30d High|
|90d Low / 90d High|
|52 Week Low / 52 Week High|
Valor mais alto
Oct 14, 2018 (2 years ago)
Valor mais baixo
Aug 14, 2018 (2 years ago)
|ROI de Digitex Token|
|Fornecimento Circulante||931,035,715 DGTX|
|Fornecimento Total||1,300,000,000 DGTX|
|Fornecimento Máximo||Sem Dados|