Altcoin to Watch: Digitex Futures (DGTX)
One of the more interesting projects to keep an eye on in 2019 is the upcoming Digitex Futures Exchange — a zero-fee, non-custodial futures exchange with its own base currency, DGTX. The platform is currently in early beta, with a full public release scheduled for Q2 2019.
The Digitex Futures Exchange plans to offer numerous cryptocurrencies, commodities and other financial instruments like ETFs. The entire platform is fueled by DGTX, an ERC-223 token, as traders are required to hold a balance in order to place trades. The fee-less structure is designed to boost adoption and increase trading volumes, creating a more liquid trading experience. New DGTX tokens will be minting yearly at a rate determined through decentralized governance mechanisms.
Digitex is built on top of an Ethereum (ETH) sidechain via the plasma protocol, allowing for non-custodial accounts where balances are kept in an independent smart contract that the exchange is unable to access. However, traders can still leverage the speed and reliability of real-time trading on Digitex’s centralized order matching engine.
Digitex is planning to offer traders very high leverage (up to 100x) and the exchange will run its own market-making algorithms that are programmed to break even, offering up a more fair trading environment.
While its launch is still a few months away, the website claims to already have more than 1 million signups for the waitlist.
DGTX is one of the few altcoins that listed in 2018 that’s now trading at a higher price than when it first hit exchanges. DGTX is currently trading for $0.043530 with a $32 million market cap, up roughly 330% since launching in May of 2018.
Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.