For those who’ve been following the Digitex Futures project, it’s time to get excited. The commission-free bitcoin futures exchange is unveiling its high-stakes Digitex Trading Battle on the beta starting Jan 17. There is a total prize pool of 6 million DGTX to be paid out over the next 100 days. Not only can traders battle it out for real DGTX prizes but they can also prepare themselves for real live trading on the exchange.
Digitex Futures Gets Closer to Mainnet
Digitex Futures began development shortly after its ICO in January 2018. Since then, the company has struggled to build an exchange that meets the high expectations of its founder, ex-pit trader Adam Todd.
Having burned through two development teams (and been on the receiving end of public wrath for delaying previous launches), the company is finally ready to proceed. And this time around, it’s different.
Learning from its mistakes, Digitex pivoted 180 on its development process. Adam has taken a much more active role, even moving to Moscow to work alongside his new development team. Rather than keep progress under wraps, the company put out bi-weekly reports sharing the work completed so far. Little by little, Digitex regained credibility and trust.
The mainnet launch of the exchange marks the ultimate in “third-time-lucky” and the date will be set by the developers, rather than the Digitex CEO himself. There is a public beta version currently underway with active trading hitting a high of over 4B traded contracts in a 24-hour period (although the majority of that is being done by the Digitex market makers).
The community, as well as Digitex’s critics, can easily see the product backs up Adam’s promise. The 2020 mainnet launch will go down as a milestone for the company–and for cryptocurrency trading in general.
A First for the Cryptocurrency Space
For the first time in the crypto space, there are no commissions to pay on any trades. This means that traders can place buy and sell orders over and over again without incurring a single fee; making it a paradise for short-term scalpers unable to take advantage of small fluctuations in price on fee-charging exchanges.
In addition to this, Digitex is bringing the first one-click trading ladder interface to the cryptocurrency space. This allows traders to stay in the zone and place orders with a single mouse click. They never have to take their eyes off the price action and can literally see the prices moving up and down on either side of the ladder.
ReadySetCrypto’s Doc Severson enthused:
“This is what’s missing from every other futures-based interface that’s out there in crypto… a proper trading ladder.”
It will be interesting to see the effect that zero fees and rapid-fire trading have on the bitcoin futures market, as well as the exchange’s native DGTX token price. In order to keep the platform commission-free, all trading profits and losses are settled in DGTX, making it compulsory for anyone who wants to take part.
The Digitex Trading Battle
On top of the promise of the mainnet on the near-horizon, Digitex is also kicking off its high-stakes Digitex Trading Battle on Jan 17. Every day from then on, for the next 100 days, in the run-up to the live exchange, traders can compete for a massive total of 6 million DGTX.
Not only will they finally have a new platform to trade on without incurring fees, but they can also hone their skills on the testnet while winning actual DGTX. The “Battle” is intended to prepare Digitex traders for real live trading on the mainnet–while incentivizing them with real prizes.
During the period leading to mainnet, the equivalent of 60,000 DGTX cash prizes will be paid out each day. The competition will produce 100 winners every day for the next 100 days–and also provide them with the chance of earning through referrals. This means that traders can actively fight to win DGTX and passively earn off their referrals’ success.
“Our mission at Digitex is to create winning traders,” said CEO and founder of Digitex Futures Adam Todd. “We want to make the very best use of this testing period not only to uncover bugs and help us ensure a robust exchange upon mainnet but also to allow testers to practice and learn how to win. The Trading Battle is the perfect opportunity to achieve all this–while giving them the chance to fight it out for real DGTX tokens.”
Active and Liquid Markets
Of course, another side effect of the Trading Battle is the fact that the platform will be continually onboarding more users ahead of the mainnet launch. This will ensure that the market is active and liquid from day one.
Adam enthused, “The Digitex Trading Battle is a series of ongoing battles preparing our traders for real live trading with actual DGTX. We aim to grow our numbers, popularize scalping, and create a highly liquid BTC futures market by mainnet launch.”
For further details of the Digitex Trading Battle, please visit: https://digitexfutures.com/tradingbattle
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