Digitex Futures Exchange
Huge number of ICOs and Tokens are being introduced and still lots of new ideas have been hitting the market. Digitex Futures Exchange is not behind in garnering attention of traders, it has introduced the very first commission-free exchange. It is the software platform developed by Digitex, time to time changes in rules, regulations and systems are subjected to the unpredictable implementation of laws or regulations on such kinds of technology and applications by legislature or regulatory agencies. It is intended to provide commission-free futures market on various cryptocurrencies, that means traders do not need to pay extra for commission fees that are usually implied by other futures exchanges. Traders must purchase DGTX tokens in order to buy and sell on the price of BTC against USD, ETH against USD, LTC against USD with zero transaction fees on any trades.
It is based on Ethereum Blockchain, meaning ERC223 protocol tokens are created on Ethereum Blockchain, known as DGTX token. ERC223 tokens are cheaper than ERC20, making the DGTX tokens cheaper eventually. Unlike ERC20, ERC223 tokens can be retrieved back if sent to the wrong address.
Now, let's get into knowing what is DGTX token?
DGTX token is a native cryptocurrency of DGTX Futures Exchange. DGTX tokens are created on smart contracts on Ethereum. All trading profits, losses, margin payments, deposits, withdraws and account balances are denominated in DGTX tokens. Hence, traders must own DGTX tokens to engage in DGTX Futures Market. This way, active traders provide liquidity which enables the demand of DGTX tokens covering the inflationary cost of funding Futures Exchange. Instead of charging transaction fees, DGTX Futures Exchange charge a very small amount on the issuance of new DGTX tokens which is going to be issued approximately after 2 years of launching according to the consensual agreements and voting by all tokens holders using Decentralized Governance by Blockchain(DGBB).
What is Decentralized Governance by Blockchain?
DGTX tokens owners carry the right to vote for the matter of issuing new DGTX tokens or not. How much and when the tokens should be issued are the only subject matter that Decentralized Governance by Blockchain deals with. Each DGTX tokens owner are entitled to 1 vote through online admin panel. Anyone with DGTX tokens can vote. Voting mechanisms are encoded into smart contracts in Ethereum Blockchain.
smart contracts?
Smart contracts are blockchain applications. The only thing that makes it stand out is its Decentralized nature. It is trust less application, as it is encoded and saved in a blockchain network which can not be altered by anyone once it is saved on a blockchain. Since, the smart contracts are trust less, this is why Digitex Futures Exchange build its platform on Ethereum Blockchain. Digitex Futures Exchange do not share datas of traders, all the datas are stored in smart contacts on Ethereum making it more safer. Digitex Futures Exchange only do exchange and uses DGTX tokens only. Even the private keys to the traders for their wallet in smart contracts are only handled by traders themselves, so Digitex Futures Exchange do not have access to the trader's private keys as well, making it more reliable. Digitex futures Exchange retain email addresses, Ethereum address for delivering coins and IP address of the traders just to conduct the sale of DGTX tokens lawfully to determine that traders can be permitted to be sold DGTX tokens.
Summary
DGTX tokens are the unique cryptocurrency which is sold and bought in a Digitex futures exchange for the price of BTC/USD, ETH/USD, LTC/USD with zero transactions fees. It is a trust less exchange due to the smart contracts in Ethereum. All the profits and losses, margin requirements, account balances are denominated in DGTX tokens. Traders must own DGTX tokens to participate in Digitex Future Exchange. It is a Decentralized Governance by Blockchain which gives the right to vote by dgtx tokens owner for the issuance of new DGTX tokens. This way the demand of DGTX token will increase. It has one click ladder trading interface. It has a tick value of 1 DGTX. Digitex will currently cover its operational cost from the ICOs received and tokens sold, in later days the costs will be covered by issuing and selling new DGTX tokens.
For more information on Digitex Future Exchange:
Videographic information on Digitex Futures Exchange
source digitex YouTube
You can read more about Digitex Future Exchange whitepaper here
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Above contents are only for the Digitex Future Exchange contest. If you prefer to use the Digitex Future Exchange for buying and selling of the DGTX tokens then it will be solely on your decisions.
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