DIGITEX- The decentralized futures exchange with Zero transaction fees

merina (46)in #cryptocurrency • 6 years ago (edited)

Introduction

Since the inception of Cryptocurrency and the Blockchain, which saw the birth of Bitcoin in 2008, both sectors have worked tirelessly to achieve improvements in other crypto platforms which has also had an impressive growth over the years. Platforms ranging from data storage in the business sector and also in the medical field to payment transactions and exchange in the marketing sector just to mention a few.

However, I will be focusing more on transaction and exchange sector for the purpose of my article.
It is not new to us us that quite often, commission are charged by an agent or broker on its users for carrying out a transaction, this is also applicable in the crypto sector. Most crypto platforms dealing mostly in transaction, instant peer-to-peer payments as well as exchange demands certain commission from its users for its services, which are sometimes unfavorable and oftentimes discourage small investors/firms or beginners.

A platform may have as well found a solution to create a favorable environment in the exchange market, as it does not charge any fees on transaction and peer-to-peer payments as well as exchange, it operates on a zero commission charges for its users. Now if this isn't a positive innovation, then I don't know what is.

Digitex FUTURES

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.
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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]

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.

Use Case

Marshall is a crypto-investor one that can be termed a whale. However, in recent times due to large volume of transactions he does per day, has to incur high transaction fees which is eating deep into his investments, far from that, He has constantly been a victim of theft and loss of funds due to futures exchanges that are centralised.

Although Marshall is a crypto-enthusiast, he is seriously hoping there would be a reform in the blockchain to remedy this inconsistency.

Alas! He stumbles across Digitex Futures Exchange, now he pays zero transaction fees, his investments are safe due to their decentralized system and he is a key factor in determining the liquidity of tokens in the Digitex system.

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.