What is Digitex all about?
Digitex is the first futures exchange which has successfully eliminated transaction fees. Traders are charged zero percent transaction fees on their transactions.
How is this possible?
This is done by creating an ethereum based token known as the DGTX token, which is also the native currency of the exchange. All traders who wish to participate in the trustless market of Digitex must own DGTX tokens. Profits, losses, marginal requirements and account balances are denominated in DGTX tokens. Operational cost of exchange would be covered by creating new tokens instead of charging transaction fees.
Futhermore, unlike other futures exchanges, traders would trade without trusting the exchange with their money. A decentralised independent smart contract on the ethereum block chain holds account balances. The exchange does not physically hold money neither does it hold private keys.
Hybrid model of centralised and decentralised components
Digitex combines the best of centralised exchange with the best of decentralised exchange. Here are the basic features of both centralized and decentralized exchange.
Centralized exchange
*Central servers have complete privacy, avoiding front-running of large orders.
*Transactions on a central server are off chain and free
*Central servers are extremely fast, reliable and easily scalable
*Marginal trading on a central server is possible, traders are allowed to maximize their trading account balance with leverage
Decentralized exchange
*Lack of privacy on chain leading to front-running on large orders
*Expensive on chain transactions
*On chain transactions are unreliable and scalability is unresolved
*Marginal trading is not yet possible on-chain.
Digitex combines the speed and reliable nature of the centralized server with the tristless security of decentralised exchange, thereby focusing on the positives while eliminating the negatives.
What are the advantages or benefits of Digitex
*No access to traders funds
*No access to the private keys of racers DGTX tokens
*Digitex is secure. In the case of hacking, no funds can be stolen since the exchange does not hold private keys.
*Zero trading fees
*Decentralized account balances
*Highly liquid futures market
*Automated market makers
*Digitex native currency
*Decentralized governance by the block chain
*Absolute privacy
*High leverage
*Large tick sizes
*Bitcoin, ethereum and litecoin futures
*One click ladder trading interface
*Off chain price discovery and on chain settlement
*Blockchain driven
Here is an example of a trade made on Digitex.
What is the future of Digitex?
Digitex exchange has solved a whole lot of issues on the crypto exchange market. The best of it all is the zero trading fees which on its own is an incentive which would attract traders. It is reasonable to say that the potential is going to be massive. Digitex is already listed on four exchanges, and the fact that it has adopted plasma technology to solve scaling issues indicate that it is going to be a success. Also, the fact that its ICO got sold in 17 minutes and its increase in price by 272% shows the platform has a bright future.
Conclusion
In a world where futures trading in the crypto world is avoided, Digitex brings a solution to combat the challenges involved. Trading fees are eliminated when using this platform. DGTX token, the platform's native token, replaces the need for transaction fees. Digitex is the new world of commission free,trust less and highly liquid futures market.
For more information, check
Digitex Website
Digitex WhitePaper
Digitex Blog
Digitex Telegram
[Digitex Reddit(https://www.reddit.com/r/DigitexFutures/)
Digitex Facebook
Digitex Twitter
Digitex YouTube
Written for originalworks writing contest
Images and resources obtained from Digitex Website and Digitex WhitePaper
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