Digitex Futures (DGTX)

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Digitex seems like it has found a real gem of a concept. Their idea is simple, intuitive, but most importantly it is effective. Who doesn’t want to trade without overspending on fees?

Joke Name

Digitex Futures = Zero Fee Platform

Basic Intro

Link to the main website

Link to price/market cap

Exchange Ticker (DGTX)

Coin or Token

Circulating Supply (731 Million)

Total Supply (1 Billion)

Market Cap Ranking

Review

Digitex Futures expects to revolutionize blockchain-based trading with zero-fee “tokenomics”. Yes, you have read this right – there are no transaction fees for traders on this platform.

That being said, Digitex is also rather convenient for traders. One can execute orders in an instant with but one click.

The interface in the system is intuitive and friendly. Bids and offers are displayed on a ladder where the tick sizes are visualized perfectly. Sure, this seems like better news for scalpers but you can never underestimate convenience in long-term deals, can you?

Features

  • The exchange platform
  • Tokenomics
  • Non-custodial accounts

The exchange platform

The platform itself is pretty much what you’d expect it to be – a means to sell or buy futures contracts on everything from commodities to financial instruments to cryptocurrencies. The DGTX tokens are what makes Digitex Futures stand out from the crowd as you will win and lose them.

Tokenomics

Digitex has an interesting economic model that they call tokenomics. You will need the DGTX tokens to trade on the platform. This means that users will automatically generate demand by simply using the platform.

That being said, operations based on owned tokens allow Digitex to skip the fees entirely. The company simply has no need in them to make a profit thus making everyone’s life easier. Plus there’s a small percentage of DGTX will be minted annually to cover the fees on transactions.

In simpler words, you are forced into buying the tokens if you wish to trade without paying a commission. The fact that you are not alone makes the tokens go up in price thus raising the value of your assets.

Or, at least on paper it does.

Non-custodial accounts

Digitex tries to combine the best of the two worlds of trading. You’ll enjoy the speed of trading on a centralized platform without actually trusting it with your money.

How does this work? The trading is done on a centralized matching engine that offers you a fair chance at making a profit. Large tick sizes make it simpler for you to compete against bots. You gin the stability of the platform all while… still owning 100% of your assets.

All of the currencies that you own are stored in a wallet and exchanged via the means of independent smart contracts. The fact that you are the only one having access to the private key ensures that you are the only one with actual access to assets.

This brings in an additional benefit – Digitex doesn’t have a centralized storage for the funds of its users meaning hackers have no interest in it. Why? Because even if they do manage to break the system they simply won’t get anything from it. Why bother then?

The token

As it was already mentioned above, the DGTX token is an integral element of the Digitex ecosystem. It is, in fact, the only way to operate within it. It has a good use and generates the demand on its own meaning the price will only grow in the future. As for the distribution of the token:

  • 10% is owned by the Digitex team
  • 20% is owned by market makers
  • 70% is available to the general public

Conclusion

Digitex seems like it has found a real gem of a concept. Their idea is simple, intuitive, but most importantly it is effective. Who doesn’t want to trade without overspending on fees?

That being said, we are yet to see the beta launch of the platform in 2019. We’ll be able to tell you more about the platform then.

Pros

  • Good concept
  • No fees

Cons

  • No direct backing (asset, profits, commodity)
  • No platform yet
  • Limited exchanges