Here are a couple of truths for you. When you’ve been in the industry long enough, you get pretty tired of hearing about projects being referred to as “game-changers.” But, at the same time, you also get better at identifying when one really is. So, without wishing to fatigue you further with the g-word, Digitex Futures
is about to turn crypto trading upside down.
What Is Digitex Futures?
Digitex Futures is a commission-free cryptocurrency futures trading platform that's gearing up to launch in Q4 of this year. With an ICO that sold out in just 17 minutes raising $5.4 million in funds from 2,530 buyers, the interest in this project has been huge from the get-go.
The ambitious company has a dedicated team working tirelessly to build a robust, secure, and user-friendly futures trading platform in less than 10 months. And if that doesn’t impress you enough, here are a few more reasons you should take Digitex Futures seriously:
Increasing Liquidity with a Commission-Free Model
- Their native token, the DGTX, became Coinmarketcap’s third biggest gainer in August this year
- The Digitex Telegram group has over 30,000 members and three dedicated customer support staff monitoring it
- Joel Comm and Travis Wright from the Bad Crypto podcast have recently joined as advisors
- The Digitex Futures CEO Adam Todd has a strong background in futures trading as a pit trader on the floor of the London International Financial Futures & Options Exchange (LIFFE)
- The tech team combines decades of experience in building robust always-on systems and offering the best in UX design
- Their Early Access Waitlist is over 100K right now--and they'll be airdropping 1,000 DGTX to the first 5,000 on it
- The live demo will be at the Malta Blockchain Summit on November 1
The Digitex Futures crew isn’t messing around and their goals are pretty big: to change the face of futures trading forever. Through the use of a native token, the DGTX, the company will remove the need for commission fees. All transactions take place using the DGTX token, which creates a continuous demand for it and increases liquidity.
Pretty much the key feature of any trading exchange is liquidity. Without it, you simply don’t have the ability to operate a successful exchange. Traders need (and expect) ample liquidity to be able to cash-out their positions whenever they want.
If for any reason an exchange fails to provide traders with the liquidity they need, they will simply go elsewhere, and once they’re gone, they won’t come back. This usually results in exchanges shutting down due to lack of activity.
But here’s the tricky thing about liquidity. You can’t just buy it--it has to be earned. And when an exchange is starting out, that means you need plenty of users and plenty of trading action to establish a network effect fast.
Removing the commission fees, especially in a bear market, for futures trading will lure more and more traders to the exchange. More traders mean more liquidity, pure and simple. Digitex Futures will be a game-changer because it will allow traders to realistically make a daily living on crypto futures trading. They can apply aggressive margin trading techniques without having profitable days wiped out by commission fees.
As Joel Comm co-host of Bad Crypto said: “We agreed to be advisors for a reason! We expect this to grow and catch on and be viable for the long term and add a lot of value to people’s lives that want to invest in crypto futures.” Digitex will be the very first exchange to offer this type of trading experience, which means that the volume could potentially be massive. And as volume increases, so does liquidity.
Zero commission fees may not be quite as as applicable to long-term investors. But Digitex is certain to see a major surge in demand from high-volume traders with a single-tick profit target. This is currently not economically feasible since commission fees wipe out gains.
Automated Market Makers
Another key feature of this exchange beyond zero commission fees and a native token is that they’ll be using automated “market makers” in the form of trading bots to ensure that liquidity flows at all times. In fact, during the Digitex ICO, 200 million DGTX tokens were allocated for these trading bots to deploy at their discretion to ensure liquidity for traders.
State-of-the-Art Trading Interface
For fast trading, you need a highly usable, state-of-the-art trading interface. Currently, one of the main issues with decentralized exchanges and futures exchanges is that they are over-complex and result in losses during moments of high volatility. The Digitex Futures exchange uses a one-click ladder trading interface, which means that no extra mouse clicks are needed to make a trade. Customers have a one-click trading capability.
While Digitex Futures is primarily aimed at futures traders who want to make a living trading full time, the DGTX token is already proving its worth in terms of ROI. This means that even if you’re more of a token holder than a trader, it’s a project seriously worth looking into. With a growing team, swelling waitlist, gathering hype and launch day just around the corner, this is one of those projects that’s definitely worth keeping tabs on.