Introduction
- A Bitty Comparism : CEX Vs DEX
While CEX offers trader unequal speed of transaction when compared with DEX exchanges; it comes short in providing the needed security for trader's fund which pales in contrast to the water-tight security offered by the decentralised blockchain on which the DEX exchange is based.
- The Obvious trade-off
While DEX exchange is just too difficult to use for new traders and too slow to practice real-time trading although all transaction lives on the blockchain which means that traders security is not at risk but there privacy is.
It is obvious that these dieficiency in both forms of exchange creates a bit of a dilemna for trader's who prefer security over flexibility or desire more privacy. All this and more is possible with Digitex!
Introducing Digitex
Digitex is the first commission-free futures exchange on the blockchain.
Digitex is an hybrid derivative of both forms of exchanges inorder to solve the problems in the existing system and create a platform that guarantee trader's privacy, security, flexibility and profitability.
The Digitex token, DGTX has a big role to play for all this benefits outlined above to be actualised because DGTX token will serve as the native currency of the exchange which means that every transactions will be denominated in DGTX.
All profits, losses, margin requirements and account balances are denominated in DGTX tokens, meaning that traders must own DGTX tokens to participate in the commission-free, trustless markets on Digitex. This creates demand for DGTX tokens from traders Source : Whitepaper
Digitex Exchange Platform Explained
Digitex is a first-of-it-kind commission-free exchange which means that traders dont need to worry about transaction fees before filing for a buy/sell order. These mindset allows the trader to trade at will which consequently increase the liquidity rate of the exchange and DGTX token as well.
In a bid to sustain the platform for a long time, digitex will mint and sell new tokens to cover the maintenance and operational fee. This is expected to start two years from when the platform launch fully; expected to be the end of 2018. But more importantly, DGTX token holders will decide how much DGTX token is minted and sold.
In a measure to avoid the inflationary cost of the DGTX token caused by minting new tokens, Digitex has automated market makers in place inorder to ensure there is high liquidity on the platform. This will inturn encourage trader's to enter and exit positions easily thereby driving the liquidity high even more.
Apart from this traders enjoy some other benefits from using the Digitex platform which are outlined below
Benefits of Using Digitex Exchange
Security
Since all funds are locked via smart contract this means that trader's funds never leaves the secure blockchain architecture. Therefore, in the event of an unlikely attack on the exchange, there will be no funds for hackers to steal. Unlike CEX options who store funds in users wallet on the exchange.
Therefore Digitex offers traders a high security exchange
Privacy
For trade actions to be initiated on Digitex exchange, the smart contract where the traders funds are stored is revoke with the help of a dedicated server which reconcile all the traders trade history and consequently complete the transaction initiated by the user.
This means that no transaction history is recorded on the blockchain since transaction is completed on Digitex highly secure dedicated server. More like how trade is done on a centralised exchange
Fast and Scalable
This dedicated server helps Digitex futures exchange to match orders in sub-milliseconds making the platform suitable for real-time trading with an architecture that accomodates more traders.
Features That Make Digitex Exchange to Work
One Click Ladder Trading Interface
Digitex traders can use the web-based enabled trading interface to view all the available orders in one click and also view the price movement of any asset around a central ladder which acts as the support position for a trader to take action.
The interface is built to give trader total experience with the ONE-CLICK-STOP-LOSS feature, offset trading feature and a real time update of asset prices as well.
Off-Chain Price Discovery, On-Chain Settlement
This is an inherent feature of the Digitex platform since they maintain decentralized account balances to offer traders funds security while ensuring that traders can also experience real-time trading on their platform with their funds.
Sub-Millisecond Order Matching
This is typical of Digitex exchange as their dedicated matching engine ensures that traders orders are matched in real-time in this typically high liquidity exchange.
Automated Market Makers
In order to ensure traders enjoy high liquidity constantly and not affected by newly minted tokens. Digitex has commited a large trading bank of 200M tokens (20% of total supply) to their automated trading bots that are programmed with algorithms to break even while ensuring tight bids and offer spread even in a volatile market condition.
This invariably encourage traders to enter and exit a position easily, driving liquidity high in the process
Decentralized Governance by Blockchain(DGBB)
All Digitex token holders are eligible to vote but the weight of their vote is determined by the amount of DGTX tokens they have in their account.
This exercise will collectively decide on when, if and how many tokens are issued to cover the operational cost of the exchange.
Conclusion
Using the Digitex platform offers traders the security afforded by the blockchain technology and the real-time trading features of CEX (centralize exchange). Along with this, traders also benefits from this features on Digitex
- Decentralised Account Balances
- No auto Deleveraging
- High Leverage
- Bitcoin, Ethereum & Litecoin futures
- One-Click, Stop-Loss Feature
- Real-time price updates
- Large tick size
- Blockchain based
Use Case
A Cryptocurrency Asset Manager
Remy works with a crypto asset management firm and one of his duty is to ensure that he makes good return or stop a loss on all the assets under his care. Presently he faces a problem with the futures trading platform he is using because he keeps losing what they call small money due to their small tick size which at the end accumulate to be a big loss for remy
But using the Digitex trading platform would have solved this problem for Remy because a large tick size gives him enough time to make the right call on his trade action on time. Coupled with the one-click stop-loss feature,he can have a wider view of his assets bullish or bearish. If the latter happens, he can easily liquidate his contracts by using a protective stop saving him from making the small losses due to a wrong price forecast and in the case of a bullish market he can quickly accumulate his losses in a short time.
The truth is that in cryptocurrency trading, the small losses accumulate to be a huge loss for a busy trader like remy.
So with Digitex, Remy can make more "small wins" and "gain big!"
Synopsis
- Digitex vs Other Exchanges
Digitex on Coinmarketcap
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Digitex Exchange Overview
- Digitex Futures Contract Specifications
| Futures Contract | BTC/USD | ETH/USD | LTC/USD |
|---|---|---|---|
| Ticker Size | $5 USD | $1 USD | $0.25 USD |
| Tick Value | 1 DGTX | 1 DGTX | 1 DGTX |
| Maker/Taker Fee | 0% | 0% | 0% |
| Finding Cost | 0% | 0% | 0% |
| Maintenance Margin | 10 DGTX | 10 DGTX | 10 DGTX |
| Initial Margin | 20 DGTX | 20 DGTX | 20 DGTX |
| Contract Duration | 24hrs | 24hrs | 24hrs |
| Contract Type | Contract For Difference (CFD) | CFD | CFD |
| Settlements | 00:00 GMT Daily | 00:00 GMT Daily | 00:00 GMT Daily |
Roadmap
https://ipfs.busy.org/ipfs/QmWRXV92M2g3MWxbzXj2xhb5tUkXitwf7VyAPBhhJNM9Gb
Meet the Team
https://ipfs.busy.org/ipfs/QmUEuWUQMBrVBMKpuWWEDKmFTypeFHaptf6B1KLTMUCfUe
For More Info, Please watch this video
Visit this links
- Digitex Website
- Digitex Youtube
- Digitex Whitepaper
- Digitex Blog
- Digitex Twitter
- Digitex Facebook
- Digitex Telegram
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You have a minor misspelling in the following sentence:
It should be dilemma instead of dilemna.Coins mentioned in post:
@awesome-p Pretty good.