Introduction
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If you haven’t looked into the principles of blockchain operation and you’ve only heard opinions about this technology, then you might be under the impression that blockchain is some sort of distributed computer, performing distributed computations. Well, that's not the case. The blockchain is effective and scalable. Conventional money will soon disappear. With the scalability characteristic of blockchain has made both new and old organizations adopt it into operation. The world is involving after all.
Digitex is a blockchain Ethereum based project that seeks to eliminate transaction fee charged on trades through the creation of their own native token called the DGTX. DGTX is an ERC-223 Ethereum token created with the help of blockchain and used to record users profits,losses and balances. Not just eliminating the commission process of every trade, they also ensure users security by giving them the control over their balances- users balance is at their own discretion this is called the Digitex's trustless nature.
The platform doesn't have any connection with users balances and when exchanges hand over the control of users balances to them, situation of hacks and theft are eliminated. Though Digitex is free, it has its own operational cost. People might ask how it is maintained as the platform proclaims a no-commission trade. Digitex users come together and decide about the issuance of a new token to the market, to regulate token availability. The decision taken here will help create demand for the DGTX token and increase its value thereby generating their operation cost from here and also promoting democracy as the system gives all users a say in the decision about to be made.
Digitex FUTURES
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What are futures ?
In finance, a futures contract (more colloquially,futures ) is a standardized forward contract, a legal agreement to buy or sell something at a predetermined price at a specified time in the future, between parties not known to each other. The asset transacted is usually a commodity or financial instrument.
Wikipedia
The free-comission for trade which is the sword of Digitex will aid thier domination. Everyone wants what's free and to enjoy Digitex's free commission on trades, you have to purchase a DGTX token. In doing this, the sale of the token will be at an increasing rate thereby generating enough liquidity to fund the operation cost of the system. With the genuine context behind Digitex, In 2019,2020 and 2021, I see them becoming one of the major grinders in the crypto world.
as shown below
One distinctive difference between Digitex and other platforms is the fact that Digitex is not only decentralized but also partly centralized. The centralized system has been condemned because of the power the system exercises over users decision but not to forget their speed, this is what Digitex adopts from them. The decentralized system is known for his security as it is built on the blockchain. Putting these two things together, Digitex offers security+speed giving them a good advantage over other exchange systems and strengthening their arm towards having the future they hoped for.
The Digitex token [DGTX]
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This is the native token created by Digitex with the help of blockchain. The token give right to all holders or users to enjoy the free commission features of Digitex. The token is an Ethereum ERC-223 token which means it can be exchanged for other Cryptos like bitcoin, litecoin ,Ethereum. All users balances, profits and losses are recorded in DGTX to ensure the token stays on chart and to gradually increase its demand. DGTX token promotes the Democratic rule in the sense that, any user with the DGTX token automatically gains the right to decide on the future of the Digitex on when and how a new token will be issued- "decentralized business model".
Token sale
During the initial sale, 1 billion DGTX Tokens will be made available. Out of this, 65% is up for sale to the public, 20% goes to Digitex Market Makers, 10% goes to the Digitex team and their advisors and 5% goes to referrals. Out of the 10% earmarked for the team and advisors, 100% of that is on a 3-year vesting schedule. Therefore, after the initial auction, only 90% of the total supply will be in circulation.
The impact Digitex will have in the trading/exchange system
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The No fee trade:
The no free trade offers users the best chance to maximize their profits on the commodity they transact. For instance, banks in my country charge #52.50 on every bank transfer done. It was calculated recently the total amount of transaction carried out when estimated with the cost it all accumulate to exceeds #3 billion a year. Now imagine if this money was never charged.
Trading fees are seriously killing traders profit and Digitex is here to make it a thing of yesterday.
People are currently paying $28 on average to make transactions using the digital currency, according to data by BitInfoCharts. One person claimed on Twitter that he had to pay a $16 fee to send $25 worth of bitcoin from one bitcoin address to another.
Source:CNBC
That's for a single transaction, what if it's a hundred(100×28=$2800). On a transaction of $50 each (50×100=5000). That's a profit of $2,200. Can you imagine. Now tell me transaction fee isn't eating away traders profit. But with Digitex, all the users need is the DGTX token to enjoy the no trade fee system.
THIS VIDEO EXPLAINS IT ALL.
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Use cases
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√ Stephen works in a stock exchange market and his clients are losing a lot to trading fees. Stephens client threatened to leave him for another broker who can get him a lower exchange rate,but Stephen warned him against those exchanges as they control users balance. He didn't listen and went in with his want, he later lost a large percentage of his holdings to the exchange as he woke up one day and the exchange platform is no more. He then saw a twitter post about "to be born Cryptos", looked into it and saw DGTX and its remarkable features and futures. Now Stephen can trade for his clients at a no trade fee rate (zero rate).
√ Juliana is a commercial trader and all transactions carried out by her attracts about 25% charging fee of the total exchange made. 75% of a certain trade including cost and expenses brings Juliana's profit to about 10%. She found a way of making her profit 35% (10%+25[100-75] by joining the Digitex community after purchasing thier token. Now Juliana can fully rest back and doesn't need to work 90 hrs a week to meet ends.
In conclusion:
All other exchange platform that charges a fee should beware of the new idea coming into place. Digitex render most of then subordinates. The no-fee for all trade is a new idea, not a copied or restructured one. It is plain and as such will change the profit margin for all traders who decides to make use of it. The creation of their own personal token has made it a breakthrough for them, checking thier current rate and comparing them to other tokens, it's just a matter of time before they meet up with the likes of bitcoin cash and litecoin.
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