Digitex Native Currency

The DGTX Token

An ERC-223 Ethereum Token used as the base currency of the Digitex Futures Exchange

The DGTX Token

The DGTX token is the base currency of the Digitex Futures Exchange and all traders on the exchange must own DGTX to participate in our commission-free, non-custodial markets. Demand for DGTX from traders is an integral part of the revenue model that allows the exchange to operate sustainably with zero transaction fees on all trades. Instead of charging transaction fees on trades, the exchange covers costs by minting a small number of new DGTX tokens each year and selling them in well publicized and transparent token sales.

Digitex Contract

0x1c83501478f1320977047008496dacbd60bb15ef

DGTX​ ​Token​ ​Supply​ ​and​ ​Distribution

The total supply of DGTX is 1,000,000,000 (one billion) DGTX tokens which is distributed as follows:

%

Public

%

Market Makers

%

Treasury

%

Digitex Team

Continued Funding

There are three phases of revenue generation for the Digitex Futures Exchange. The first was our ICO token sale on January 15th, 2018 which sold out in 17 minutes and raised over $5m. The second and current phase is the Digitex Treasury token sale which will last until 2021. The third phase being Token Issuance, starts mid 2021.

ICO

700 Million DGTX Tokens

January 2018

Sold out in 17 minutes and raised over $5m.

ENDED

Treasury Token Sale

100m DGTX Tokens

2019 – 2021

100m tokens to allow for continued funding.

Token Issuance

Voted by Token Holders

2021 Onwards

DGTX owners vote on how many new DGTX to mint.

INACTIVE

DGTX Token Issuance

Starting in 2021, Digitex covers its costs by Mining new DGTX Tokens. This token issuance revenue model removes the cost burden of the exchange from the most active traders who provide the most liquidity. And it spreads that cost evenly amongst all DGTX owners in the form of a small inflation rate. Any increase in DGTX supply will devalue the current price of DGTX. But by using a democratic system of decentralised governance by blockchain, DGTX token owners control that inflation cost.

The Revenue Model of Token Issuance

We follow a revenue model of token issuance in a community-controlled way. So, rather than just giving the team a license to print money and wipe off value from the exchange token through inflation, we will mint a small number of exchange tokens every couple of years based on a community vote. This is done so that we can bring more users onto the exchange, through effective marketing, and fund development, always in a controlled way to offset a temporary drop in exchange token value from inflation with rising demand for DGTX as more traders flock to our commission-free exchange.

We created one billion tokens in our ICO last year and the first scheduled minting of new DGTX as per the white paper is scheduled for 2021. This new round of DGTX issuance will be governed democratically by all DGTX exchange token owners.
The benefits of adding more users to our exchange are multiple and far outweigh the temporary effects of inflation. For example, a substantial increase in people holding DGTX tokens not only makes the token price rise but it also makes our democratic token-issuance voting system more robust.

The more participants there are in the voting ecosystem, the better it will be since it ensures fairness and will allow us to make sounder decisions as a collective.

Why would DGTX token owners willingly vote to increase supply and devalue their DGTX  tokens?

Because by doing so they are funding a commission-free, non-custodial futures exchange that creates massive demand for DGTX. Increased demand for DGTX from traders will counteract the effect of increased supply, and this constant balancing act of inflation vs demand will be done by the very people who are affected by it: DGTX token owners.

On the one hand, DGTX owners want to minimize token issuance to protect the value of the current DGTX. But on the other hand, DGTX owners will accept a certain devaluation of their DGTX if that raises enough money to fund the Digitex Futures Exchange for another year, thus creating increased demand for DGTX from traders attracted to commission-free markets on a non-custodial exchange.

Just like any central bank that controls its own currency through effective monetary policy, the DGTX community will collectively decide on the most appropriate monetary policy that finds the correct balance between DGTX demand, price growth and inflation.

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Digitex Chat t.me/digitexfutureschat
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