Digitex Futures, a decentralized non-custodial and commission-free cryptocurrency futures trading platform, will be launching its public testnet in the fourth quarter of 2019, according to the company.
The exchange, in collaboration with Moscow-based software development and smart contract audit firm SmartDec, had stated that its testnet, which has been in development since May would finally be made available to the public on November 30, 2019.
The beta version, which can process at least 50,000 transactions per second, will support 10,000 concurrent users, who will be able to trade BTC/USD futures contracts with transactions settled in DGTX tokens, the native cryptocurrency token of the Digitex platform.
After a period of at least two months of rigorous testing and third-party auditing, the platform is expected to be fully launched for live future and margin trading.
Unlike most cryptocurrency exchanges that charge a fee for every transaction to cover their cost of operation, trades conducted on the Digitex trading platform at full launch will be free, as the exchange will rely on the value of the DGTX token to cover its operating cost.
While there is currently no official date for the launch of the full version, the exchange stated a date would be announced after several tests and third-party auditing have been conducted on the upcoming beta version on the Ethereum Testnet.
Commenting on the latest development, Adam Todd, the founder and CEO of Digitex, stated that establishing a zero-fee futures trading platform has always been his dream, and he is happy that it is finally becoming a reality.
“[….] with the help of SmartDec we’re finally almost there. Thanks to everyone that stuck with us and we’re looking forward to delivering a truly disruptive exchange that will be governed and controlled by its traders,” Todd added.
Raising the bar with SmartDec
After an unexpected fallout with its former software developer firm, Digitex partnered with SmartDec in last May to oversee the development of the project so as to meet the expectations of an impressive waiting list of 1.5 million traders eagerly waiting for the full launch of the exchange.
SmartDec has a track record of working with notable companies in the fintech and cryptocurrency industry, including Pundi X Labs, Zerion, and Genesis Vision. The software firm says it is committed to ensuring that the Digitex project is a success and 16 of the current number of developers will be fully devoted to the project.
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