The first phase of this ICO sold out in just 17 minutes. So don't miss this one!
by a stroke of luck, we have been granted a 2nd chance to get in on one of the most exciting ICOs of 2018. Many people were greatly disappointed to have missed out on the 1st one since it ended in just 17 minutes!y a stroke of luck, we have been granted a 2nd chance to get in on one of the most exciting ICOs of 2018. Many people were greatly disappointed to have missed out on the 1st one since it ended in just 17 minutes!
It turns out that a whale bought 1.2 million dollars worth of tokens! This is NOT good since it gives one holder too much influence over the democratic voting system that governs how the Digitex system works, negating the influence of smaller DGTX token owners. It also allows a large holder to manipulate the DGTX token price and even crash it on exchanges should they wish to do so.
You can see the actual transactions on the blockchain yourself here:
Whale sends test transaction of 10 ETH to Digitex smart contract and receives 1,561,200 DGTX: https://etherscan.io/tx/0x6d1be99e064b31f3b877b04d65c12cebeeca5e7668183584c7c542ca05365d07
Whale sends 940 ETH to Digitex smart contract and receives 146,752,800 DGTX: https://etherscan.io/tx/0xe243a654a09e2c1df036d2f144f1364131dedd92698ddd5b8820546959649fd1
Fortunately, it appears that the team at Digitex truly does care about the project and its investors evidenced by the action they took after the ICO. Using their own funds, they negotiated a buyback of the tokens from the whale that made the original purchase. An agreement was reached and nearly 148 million tokens were back in the possession of Digitex.
The team is now doing a 2nd ICO to give smaller investors a second chance to participate but this time, there will be a 10 ETH cap per investor to avoid this from happening again.
This whole situation and the way it is being handled is very reassuring to me as it shows that the team genuinely cares about this project. Not only that, think of it this way. It is very reassuring that such a powerful and sophisticated investor had this much confidence in the Digitex project willing to invest 1.2 million dollars into it. This again reinforces my belief that this is the BEST ico of the year with the greatest potential.
Here is a message from Adam Todd, the found of Digitex regarding the ico
So if you havent seen my original post, what is Digitex?
Digitex aims to create a commission free Bitcoin futures trading platform for Bitcoin, Ehtereum and Litecoin against the US Dollar. As far as I know, there is no crypto futures trading platforms available today other than the contracts available on CME or CBOE. What makes Digitex unique is that it plans to be a Decentralized exchange having account balances stored on independent Ethereum smart contracts and not on the exchange. Furthermore, traders on Digitex will use decentralized governance to determine how many new DGTX tokens to issue and when.
So using Digitex, traders will be paid profits/losses in DGTX tokens which will create demand for the tokens driving up the value of them. Instead of charging transaction fees to cover expenses, they will create a small number of tokens each year.
So in my opinion, this could be a very popular platform since it doesn't have alot of competition. This is similar to Binance. You can trade on Binance using their BNB token which is currently valued around $17 and they have only been around about a half a year. Could Digitex follow a similar path? It seems plausible though with such a higher coin supply, it most likely will not hit that high of a value but should experience respectable gains nevertheless.
The initial supply of DGTX will be 1 billion tokens of which 700 million will be sold during the ICO phase. 10% will be held by the team and will remain vested unitl one year past the first revenue generation token creation event. This ensures that the team has strong incentive to create a stable, self perpetuating business model.
The road map for Digitek is as follows. 2018 first quarter is the ICO token sale which starts tomorrow. They will be getting listed on exchanges during the second quarter. During the 3rd quarter they plan on completing Digitex exchange voting & accounts smart contracts will be deployed. The final launch of the digitex futures exchange will occur in the 4th quarter. So investing in Digitex should be thought of as a long hold at least till they hit the exchanges. However, I would think that holding until after the launch would be wise as this should immediately increase the value of the tokens.
What I really liked about Digitex is that it has a capable team behind it with a proven track record. The found and CEO is Adam Todd. He is the founder of BetTrader, a popular ladder trading interface which has been online for 14 years connecting the world's largest betting exchange, Betfair.com. Adam is an experienced trader and was once a pit-trader on the London International Financial Futures and Options Exchange. Digitex seems to be very transparent providing information about all their team members and qualifications which makes me feel a bit more confident regarding the project.
I have also followed their activity online. The staff is very responsive on Reddit with Q&As and readily available to answer questions and help out. This further helps build trust and it is good to know that the team is actively engaging with potential investors in a transparent manner. You can learn more about them via Telegram, Reddit, Medium, Facebook and Twitter. See below for links.
Telegram
https://t.me/digitexfutureschat
Reddit
https://www.reddit.com/r/DigitexFutures/
Medium
https://medium.com/digitex-futures
Facebook
https://www.facebook.com/DigitexFutures/
Twitter
https://twitter.com/digitexfutures
During the ICO, which starts tomorrow, they are offering a 20% bonus if you invest during the first week. They are also offering an outstanding referral bonus. Refer others to the token sale and you will earn 30% of what your referrals invest.
So how do you invest?
To invest, you will be sending Ethereum to their smart contract. So you can purchase Ethereum through coinbase or whichever exchange you wish and send it to a wallet that can accept ERC-223 TOKENS. They recommend that you use MyEtherWallet.com. Once your Ethereum is on your MEW wallet, you can then send it to the smart contract once the token sales commences. They will provide the smart contract address on their website when it starts.
Remember, please do your own research before you invest and invest only what you are comfortable with losing.
Here is a link to the Token Sale where you can signup. (Full Disclosure: This is my referral link so if you found this information helpful, please signup using it)
https://vrlps.co/a?pt=24egHeF-mYgN9sCzFHAbpvZzKrw&referralCode=B1pGm4dNM&refSource=copy