We are pleased to announce the listing of the new token Digitex Futures (DGTX) in our INR market on 18th May 2020. Deposits will begin at 6 PM IST (2.30 PM CEST) and trading will go live on 19th May 2020, 3PM IST (11.30 AM CEST). Adding to this, the token will be available in DGTX/USDT pair also.
Digitex Futures is a Seychelles-based Commission-Free cryptocurrency Futures Trading platform. It allows its users to trade (speculate) prices of cryptocurrencies instead of effectively purchase them. In other words, users are able to stake a guess for the price direction (up or down) of a supported cryptocurrency, earning an income if the guess was right.
While other major futures trading platforms evolve around Bitcoin, Digitex developed its own currency which will be used on the platform, meaning investors will have to own tokens prior to taking part in the trading process which will allow Digitex to maintain demand in the market. The DGTX token is an Ethereum-based (ERC-20) cryptocurrency. It is the native currency of Digitex Futures ecosystem and hence, needed in all activities related to account balances as well as in trading profits and losses. At Digitex Futures, stakes to make a guess or the income earnings for the correct speculation are paid with this DGTX token.
The Digitex Futures Exchange platform idea was given birth to by Adam Todd, with the aim of competing with major players of crypto oriented futures trading market. Investors will be able to open trading positions for free. Digitex Futures platform was the first exchange on which traders will be able to make short-term speculation on the price of Bitcoin and Ether against the US dollar, and not have to pay commission on the transaction fees. Users are required to hold the platform’s DGTX tokens in order to trade Bitcoin Futures on the exchange,
Here’s the most interesting fact about DGTX – The Digitex ICO sold out raising $5.2 Million in less than 17 mins.
During the initial token sale, 1 billion DGTX tokens will be created. No new tokens will be created for the first two years after launch. Of the total supply, 700 million (70%) is distributed during the token sale at a price of $0.01 per DGTX token; 200 million (20%) is reserved for Digitex market makers; and 100 million (10%) is reserved for the team. Digitex will create new DGTX tokens approximately every 2 years. It is the creation of such tokens that will allow the exchange to operate without the need for transaction fees. Digitex will have a pre-defined, democratically-governed inflation model regarding the issuance of new tokens.