chainlink

Digitex Futures is Integrating Chainlink to Bring Security and Transparency to Price Determination

As part of our mission to revolutionize futures trading, we are constantly innovating in our approach to building a highly secure platform that’s protective of user funds. We take platform security very seriously, which is why we’re integrating Chainlink’s Price Reference Contracts as an anchor to backup the existing price feeds on our platform. This marks the first time a centralized cryptocurrency futures exchange is relying on decentralized oracles to improve its platform security. 

Incorporating Chainlink price reference contracts brings heightened transparency and reliability to a critical component of our platform. It provides traders with strong protection against price manipulation, ensuring that traders don’t become overexposed to slippage should our internal price feeds deviate too far from the global market price, as reported from Chainlink’s highly reliable and tamperproof price reference contracts. 

The Importance of a Price Anchor

We have gone to great lengths to ensure that our internal price feeds are accurate by developing an index based on a variety of trusted spot market sources. However, price feeds can be subject to vulnerabilities and negatively impact users during situations of exchange manipulation or faulty data sources.

We aim to prevent any such incident from occurring by using a highly reliable and manipulation resistant price anchor. A price anchor is used as a frame of reference from which to detect deviations in other prices. We will use Chainlink’s Price Reference Contract as a price anchor and monitor if our internal feeds ever deviate from it by more than a defined percentage.

Why Chainlink Price Reference Contracts

When researching various solutions, Chainlink’s Price Reference Contracts stood out as the most secure and accurate cryptocurrency price feeds in the market. 

Chainlink is a decentralized oracle network, responsible for connecting smart contracts to data outside the blockchain in a secure manner. Chainlink’s Price Reference Contracts are a collection of financial price feeds, containing all the cryptocurrency trading pairs needed by our platform. Chainlink uses a decentralized network of independent, Sybil resistant nodes, which each source price data from numerous high-quality data aggregators with strong market coverage, such as BraveNewCoin and Kaiko. All the nodes’ responses are aggregated together to produce a global market price for a trading pair, such as BTC/USD, with updates occurring every 1% change in price.

Digitex Futures is Integrating Chainlink to Bring Security and Transparency to Price Determination 1

Chainlink’s Price Reference model provides Digitex with three important features: accurate prices, manipulation resistance, and liveness guarantees. Its decentralized design ensures that a malicious or incompetent actor cannot hinder the quality of the price data or the reliability of the price update. Additionally, the use of high-quality market data and secure node operators enforces high standards on each individual component of the network. Chainlink’s infrastructure is already relied upon for the security of millions of dollars by many leading DeFi applications.

We plan to start using Chainlink’s Price Reference Contracts to support trading of our initial market of BTC/USD Perpetual Contracts, and add additional price feeds as we launch more products. Unlike other centralized cryptocurrency futures exchanges where their backend processes are hidden, we’ve created a level playing field for traders. We provide new levels of transparency into how Digitex’s contracts function, with backup security to protect against abnormal events.

“Chainlink provides Digitex with highly reliable and transparent price feeds that protect our users against the negative outcomes of abnormal market conditions or internal complications. Using Chainlink price data enables us to deliver stronger security and performance guarantees to our users, furthering our vision to revolutionize futures trading.” – Adam Todd, Founder and CEO of Digitex.

About Chainlink

If you’re a developer and want to connect your smart contract to existing data and infrastructure outside the underlying blockchain, reach out here. We can help you quickly and securely launch your data-enabled application or Chainlink Price Reference Data Contract on mainnet today. You can also visit the developer documentation or join the technical discussion on Discord. Learn more by visiting the Chainlink website or follow us on Twitter or Reddit.

Chainlink is a decentralized oracle network that enables smart contracts to securely access off-chain data feeds, web APIs, and traditional bank payments. It is well known for providing highly secure and reliable oracles to large enterprises (Google, Oracle, and SWIFT) and leading smart contract development teams such as Polkadot/Substrate, Synthetix, Loopring, Aave, OpenLaw, Conflux, and many others.

trading

Watch Adam Trading on the DFE Mainnet!

 The last few weeks have flown by in such a whirlwind that we suddenly realized this week – nobody has yet even seen Adam fulfilling his vision of zero-fee crypto futures trading! So our final post of this week is a video from the man himself. Plus, news on our next mainnet group… Enjoy!

Adam opens the video by saying how happy he is with the mainnet performance – aside from a few minor bugs, we’ve had a very smooth start. 

He also expresses his gratitude to the mainnet trading group for their enthusiasm and participation, and confirms we’re bringing on board another 100 traders this week! At the time of publication, we can confirm that the 100 in question are already on board and trading away. If you’re one of our newcomers and wondering how all this works, then you should definitely watch this video! For everyone else, we’ll be providing an update from the latest group after the weekend. 

Adam is also impressed at the level of liquidity our traders and market makers are managing to achieve – imagine how it will be when we have thousands of traders on the ladder! 

He does a few trades, demonstrating how easy it is to literally play around on the ladder without the fear of losing out to trading fees. He quickly scalps out 160 DGTX and demonstrates how easy it is to get filled even with the liquidity of just 120 traders on the mainnet. 

Remember – not all of them are necessarily online at all times, so we really are expecting to have one of the most liquid exchanges out there! 

With an exchange like the DFE, traders have ultimate flexibility over their work/life balance. Adam used to trade on a betting exchange for a living, working out of internet cafes around the world. With a platform like the DFE, anyone can replicate that lifestyle, scalping out profits to buy the freedom they want. 

Adam finishes his trading activities 360 DGTX up in just a few minutes on the ladder. Not bad! 

News from DFE Development

Now to some updates from the DFE. Adam tells us how the API is currently a big focus for development activity. Also, we have four separate audits happening for the exchange itself, which (along with the home working) is part of the reason we’ve been slower to onboard that we perhaps would have liked. The audits are helping us locate minor fixes that need to happen to fine-tune the exchange to its best performance. We’ll be publishing the results of the audit as soon as we can. 

He then elaborates on the progress being made by the new team in Kyiv, including our CTO and Director of Exchange Operations on the leadership team. We’re making headway on new features, including ETH deposits and stop-loss. The fact that development is now coming along under the supervision of Alex and Yuliya is a testament to how well things are going with the new team in place. 

Adam teases an announcement coming up on Monday that will help us with our spot price calculations – watch this space for news! 

We have a few more small developments in the pipelines, such as being able to drag an unmatched order to a new price. These are minor changes, but they’re all designed to make the scalping process as clean and slick as possible. 

Similarly, users will soon be able to set hotkeys for defined quantities, meaning they can place orders with fewer mouse clicks. All these developments may seem small, but they add up to a stellar user experience on an addictive UI. 

Overall, the current version of the mainnet is very much the first version, although Adam is quick to praise SmartDec for the delivery of an outstanding trading platform. Everything we’re doing now is aiming to create the best possible iteration that the DFE can possibly become. 

There’s plenty more to come from Digitex, but in the meantime, thanks for sticking with us and making this journey to mainnet worthwhile! 

digitex

Team Spotlight: Director of Exchange Operations, Yuliya Sporysh

As regular readers will know, we’ve been building up a stellar team in preparation for the mainnet launch. Ensuring that we open the doors on a world-class crypto futures exchange means we need an extremely slick operation behind the scenes. So, for the latest in the Team Spotlight series, we’re delighted to introduce our Director of Exchange Operations, Yuliya Sporysh!

What’s Involved with Yuliya’s Role at Digitex? 

As the Director of Exchange Operations, Yuliya’s role has an incredibly broad scope, spanning virtually every department in the company. She works closely with developers, designers, support, marketing, and management. She’s responsible for coordinating the interactions between different functions to ensure that the running of the exchange itself goes smoothly.

At the same time, her efforts help to ensure that new features are implemented in a way that ensures they’re a success from the off. For example, having Yuliya as a bridge between development and marketing helps to deliver timely and transparent messages to our community. 

So, what does this mean in terms of a typical working day and how does she keep on top of everything? 

Yuliya’s role essentially involves planning and organizing. She works with the relevant team leads to develop a plan for the upcoming ten days, including prioritizing tasks as they come in. This involves close coordination with Digitex’s CTO Alex, as well as the development team at SmartDec. Each request that comes in from the team supporting mainnet users needs to be analyzed and prioritized, and with the mainnet currently in a critical stage, she does a lot of work in fixing urgent issues. 

She explains that it’s always a careful balance between sticking to a plan and creating a flexible pipeline that can respond to urgent tasks.

“I use my right to say no for what might be “pseudo-urgent tasks” and this involves approaching everything from the question “Is it useful for Digitex’s business in the long term?” And a small secret: I always work with people, not with roles or positions and I see the person, not the business unit.”

How is it working with the talented team at SmartDec?

“SmartDec is a very professional team, so its a pleasure to work with people who speak your language. Together we transform business requirements into technical tasks, with a view to creating an advanced trading platform.”

Zooming out to the big picture, what does Yuliya see for the future of the DFE? She says:

“My number one target is to make the DFE one of Top 10 derivatives exchange in terms of volume within three years of launching. Doing this will deliver the ultimate goal – creating value for DGTX token holders.”

A Fast-Growing Team!

As a senior member of the Digitex management team, Yuliya is actively involved in the current extensive hiring activities focused on Kyiv, Ukraine. We’re bringing on board teams of support and maintenance staff to make sure the exchange doesn’t experience downtime and outages, and that any routine bugs or issues are solved before they create problems for our users. 

What’s it like working in her home city of Kyiv to source this kind of talent?

“Ukraine is full of bright brains, and I’m happy Digitex found Max [Maxim Bashmakov, our Creative Director] and decided to build its own tech team here. Now we’re building a strong, multi-functional team.”

She elaborates on some recent recruitment activities:

“We’ve just hired a very experienced security guy, who thinks like a criminal, which is exactly what you need for someone who understands how to keep the platform secure! We’ve also brought in some stars who are working on the API and algorithmic trading solutions.”

However, there is still a lot of work ahead to finish building out the team. Yuliya says:

“We still have more than 15 open positions right now. So if you would like to work with us, please apply!”

How Yuliya Came to Crypto

Yuliya brings her 15 years of experience working in the IT and digital space to Digitex, and she also holds a Ph.D. in sociology. Her and CTO Alex go back a long way, having worked and co-founded several companies together. Yuliya was previously CEO at fintech firm TRDATA, and in 2017, she and Alex founded a blockchain startup called CoinIndex. They also co-developed a market tracker called ContractMarketCap, putting them in the possibly unique position of being connected to every single futures trading platform in the world. 

It was also down to Alex that Yuliya became hooked on crypto. As she says:

“One day, Alex told me about bitcoin, and I started reading about blockchain technology and cryptocurrencies. Eventually, I decided to jump into this new industry, and I haven’t looked back.”

It was undoubtedly to the benefit of Digitex that Yuliya decided to make the leap! 

How Yuliya Came to Digitex

Yuliya learned about Digitex back at the start of 2018 when we were doing our ICO. She explains: 

“Around the time of the Digitex ICO, we were looking out carefully for any crypto derivatives projects and were very excited how fast Digitex closed its hard cap, selling $5 million worth of tokens in a matter of minutes.”

Now, she says Digitex is by far her favorite cryptocurrency project, along with her own contractmarketcap.com

So what does Yuliya enjoy most about working at Digitex? 

“The speed and drive. Adam is extremely energetic and dedicated to the success of the project.”

Beyond Digitex

As you’d expect for someone with a long history of working with fintech and crypto startups, Yuliya is an extremely active member of the local crypto scene in her home city of Kyiv. As she says, the blockchain community is huge. She’s a regular speaker at blockchain conferences both in Ukraine and in other European countries. 

And if there is life beyond crypto, what does that look like? Yuliya explains: 

“As a working mom, I don’t have so much free time, so whatever time I do get, I prefer to spend it with my kids, family, and friends. I like forest walking and travels. If I have an opportunity for a city break, I like to visit museums and theaters. “

As a successful fintech entrepreneur, Yuliya is also involved in shaping and empowering the next generation of young women into following her footsteps. Along with her tech ventures, she’s also a founder of an educational project for teenage girls aged 11-17. She tells us:

“Our goal is to encourage girls to build their life strategies knowingly taking into account the specificities of women’s physiology and modern opportunities for professional realization.”

She elaborates on why she decided to dedicate part of her busy schedule to motivating future female superstars: 

“I believe that only we can change the world we live in.”

Adam is also a huge proponent of supporting more women in leadership roles within the highly male-dominated crypto space. So Team Digitex is proud to have added such an experienced and inspirational female leader from the tech space to its senior management group.

Thanks, Yuliya, for the opportunity to get to know you better! 

Futures Exchange

The Digitex Futures Exchange is Firing Up! 

Right on schedule last week, we onboarded another group of 50 to the mainnet, meaning there are now 120 eager traders scalping profits with zero fees. To kick off this week, we have a raft of announcements, including updates from the development team, a contest for our mainnet users, and a brand new listing with a trading competition! 

First off, as you’d expect by now, our newest group of traders is loving the mainnet experience. Here are a few snips from the Telegram group: 

 

The Digitex Futures Exchange is Firing Up!  2

The Digitex Futures Exchange is Firing Up!  3

The mainnet group is evidently doing a great job in promoting the DFE to the broader Digitex community. Our Community Managers are now facing a barrage of daily requests from community members, begging to be next in line! 

The Digitex Futures Exchange is Firing Up!  4

The Digitex Futures Exchange is Firing Up!  5

All this anticipation is proving to be great news for the price of DGTX. Over the previous week, it’s gained nearly 40%, compared to a 16% increase in the price of Bitcoin and 17% in Ethereum. 

 

The Digitex Futures Exchange is Firing Up!  6

Development Update

As much as we’d like to include everyone on the mainnet immediately, it’s important that we keep the onboarding at a steady pace. It’s proving to be an excellent opportunity for the development team to fix any minor bugs that crop up. 

Our new Director of Exchange Operations, Yuliya Sporysh, has also shared that the team is fleshing out the overall maintenance and support operations for the mainnet, in preparation for the platform becoming fully loaded with traders. This development isn’t only on the technical side – it also involves staffing up the necessary teams to ensure that Digitex can remain up and running without hiccups 24/7. As such, we are hiring extensively for our hub location in Kyiv. 

Yuliya also provided an update on some of the focus areas for the development team right now. They’re working hard to implement the API, which will enable algorithmic traders to deploy bots on the mainnet. They’re also progressing on the necessary work to bring ETH deposits and withdrawals to the exchange. These developments will follow with introducing the stop loss feature, and we will share an update on this soon.

As you’d imagine, with all this going on, Yuliya is a busy lady. However, we’re looking forward to when she can find a gap in her schedule to share more details about herself and her role in an upcoming Team Spotlight. 

New Exchange Listing with CoinDCX!

As we mentioned above, the DGTX token is currently outperforming the market. Now, it stands to get a further boost with a new token listing on the CoinDCX exchange! 

The partnership with CoinDCX aims to expand Digitex’s footprint in India, where it is among the biggest and most secure crypto trading platforms. Earlier this year, the company gained backing from Polychain Capital, Bain Capital Adventures, and HDR Group in a $3m seed funding round. Last week, it was announced that BitGo would be providing custodial services to CoinDCX, offering insurance protection to all funds stored on the platform. 

CoinDCX offers users instant fiat to crypto conversions with zero fees. Users can choose from a range of different services, including decentralized lending service DCXLend and margin trading with up to 6x leveraged trades with DCXMargin. 

And now, traders can also buy DGTX instantly with Indian Rupees, thanks to a DGTX/INR pair available on CoinDCX! The new listing, along with a DGTX/USDT pair, will be open to trade soon. There will also be a Trading Battle, with a giveaway of over 300,000 DGTX tokens, for which we will share more details as soon as we can. 

Mainnet Photo Contest

Finally, we’re running a mainnet contest of our very own, where our group of traders can compete to win a share of 50,000 DGTX tokens! All of our mainnet users are invited to post a photo of themselves trading in unusual or unique places. (No cliff-edge selfies, no other life-threatening jaunts, and obviously no bathroom shots!) 

At the end of the contest, on May 30, we will select a shortlist of 5 photos. Our Telegram community will then have the opportunity to participate in a poll to choose the top three photos! The first prize winner will take 30,000 DGTX, with second and third place receiving a runners-up prize. 

That rounds up all our Monday news! As you can see, the Digitex engine is now well and truly firing on all cylinders. And we have plenty more coming up over the next couple of weeks, so watch this space for more news and updates from the DFE! 

 

mainnet

The DFE Mainnet is Live, But Digitex is Just Getting Started

After two very long and very eventful years, April 27th 2020 marked the sweetest of victories for Adam, his team, and all of Digitex’s supporters. With the mainnet now a reality,  even despite a global pandemic, we take a look at why this project now, justifiably, has the brightest of futures. 

A Promise Delivered!

For who anyone hasn’t followed the highs and lows of the Digitex story, it’s safe to say that April 27, 2020 was a critical moment for Digitex Futures. With two high-profile delays already behind them, a third failure would have all but crushed the dream. 

So as I sat there with the first 20 traders on Telegram, watching the mainnet launch countdown tick down to zero, the nervous excitement was palpable. Almost to the second, the holding page came down, and there, in front of us, was Adam’s unique vision made real. A fully functioning live trading environment complete with market makers faithfully following the spot price. 

Within minutes we all jumped in. Trading was tentative to start with, but nothing focuses the mind like putting real money on the line. It wasn’t long though, until the Telegram chatter was alive with 1 tick gains and proud screenshots of realized profit. Of course, it didn’t take long for me to join in the fun and after some nerve-wracking login issues (thanks for the calm patience Jolien!) I made my first 4 DGTX tokens from 20 contracts long, about 8 minutes in. You can watch it on the video below! 

It was a fantastic moment for all involved, especially given the eventful path taken to get here. It was truly the moment this project moved from a promising concept to actual working reality. 

A Liquidity Magnet.

Since then, in the couple of weeks I’ve had with the exchange, a few things have struck me that bode incredibly well for the future of this project.

Firstly, even at these early stages, with the relatively small number of traders and limited liquidity, trading the ladder has been fluid and importantly, profitable. 

Put into context, this means that unlike other exchanges that start with low liquidity, high spreads, and negative trading experiences, early traders on DFE are having an absolute blast on the exchange. This is going to create a positive feedback loop that in turn will attract new traders to the exchange and increase liquidity.

Secondly, the unique configuration of zero fees and the trading ladder interface effectively eliminates traditional spreads and reduces the cost of entering and exiting trades to absolute zero. Most importantly, it allows traders to manage risk effectively. This is not just lip service either, the results for my trading performance have been huge, providing me the ability to make 2% profits daily since I started.

Thirdly, this exchange is highly addictive. I’m already having to strictly structure when I trade, Given the opportunity, I will spend hours on it, creating havoc for my deadlines – like this article, which I submitted very close to the wire!

With similar stories of phones by beds, and hours melting away at the ladder, it’s clear that the exchange generates volume and participation by design.

In essence, DFE is an addictive, liquidity magnet, in a win-win situation with its user base. Just let that sink in.

Building a Powerhouse Brand

If I’m ever asked about what it takes to start a business, one of the first examples I’ll cite will be Adam’s founder journey. Not only is it out there on YouTube for all to see, but it’s also representative of the kind of resilience and determination that it takes to move an idea to reality. 

Not only has he managed to get Digitex Futures Exchange to the start line in world-class shape, despite the huge setbacks. He has also shown solid leadership, especially in the latter stages. By building a team of experts around him, he is setting up the exchange for success, whilst simultaneously freeing himself to drive the Digitex brand forward.

By pulling this off, he has changed the narrative from a CEO with ideas that are perhaps above his station, to that of a tenacious, if slightly unconventional tech leader who delivered against all odds. It’s the kind of reputation that creates stories, interest, and importantly, as Adam mentioned in the recent AMA, attracts investment.

So it’s not surprising that in typical entrepreneurial fashion, whilst we’ve barely had a moment to soak in the success of the mainnet launch, Adam is already down the road looking to expand the utility of the DGTX token. With the mainnet in safe hands and rolling out successfully, it appears plans are in motion that makes Digitex a compelling and ambitious business to watch. As a holder of DGTX, this kind of news means I could not be more optimistic about the future. 

Sound Tokenomics

Added to all of this is the highly compelling tokenomics. Just a cursory glance of the white paper shows the potential for DGTX price appreciation. However with the recent mainnet progress, and news from the AMA, the potential for DGTX holders is as exciting as trading the DFE ladder. 

Consider a hugely strong base of holders restricting supply. A world-class exchange that’s built to be in favor of traders. An army of highly motivated supporters that both cannot wait to get onto the exchange and help promote the brand. You can see that Digitex is building a head of steam that will very likely lead to some exciting token price growth.

Where exactly that price will continue to be a subject of much speculation and modeling. Upper estimates for DGTX range from the conservative right through to the massive, however, they all share one clear message. Its ultimate destination is higher from here.

With Adam teasing even greater ambitions for driving value to the token through a suite of complementary services and platforms. A cutting-edge futures exchange ready for mass adoption in early summer. The case to grab your share of DGTX token now for the long term has become even more compelling.

Wrapping It Up

It’s clear that interest in futures trading is exploding, along with increased crypto awareness due to the recent BTC halving. Digitex, it seems, could not be better placed to enter the market. Whole populations are currently re-evaluating what work should be and as a result, people will be researching new ways to diversify income streams, especially in the wake of the pandemic lockdown. 

In that context, a futures trading platform that is fair and actually makes it possible for disciplined traders to carve out a living with just an internet connection, a laptop, and some practice, will generate huge interest. Not only within the huge multi-billion dollar addressable futures market, but also through attracting fresh new people to the space.

For Digitex the future’s so bright, it may have to wear shades!

Wondering how to get your hands on DGTX? There are several options. You can buy through our exchange partners or Changelly Instant, but the best way to support Digitex is to buy your DGTX tokens from the Treasury. It’s instant, secure, and trustless, and you can avoid paying exchange fees. Furthermore, tokens sold through the Treasury provide a sustainable means of funding the Digitex platform over the next two years, ensuring a healthy period of stabilization post-launch.

mainnet

Weekend Update from the Digitex Mainnet

It’s been a whirlwind of a weekend in the crypto markets. After breaking the $10k barrier for the first time since February, Bitcoin crashed in the early hours of Sunday morning UTC, losing nearly 10% of its value in around an hour. 

Despite that Bitcoin lost, the move proved to be a valuable one for Digitex. First off, some of our traders absolutely killed it on the shorts. Check out this screenshot from Sniper Trades:

Weekend Update from the Digitex Mainnet 7

65,000 DGTX is a profit of around $2,500, which is an outstanding trading session by any measure. 

A Bug Came Out of Hiding

The stress of a sudden, sharp market movement also revealed a design issue with the mainnet platform that wasn’t previously apparent. 

Our trader Floyd best sums it up in the message below:

Weekend Update from the Digitex Mainnet 8

The net result was that a couple of our traders couldn’t close their positions on the ladder, meaning they ended up losing out. As we don’t yet have a stop-loss feature available, the losses couldn’t be contained until the price stabilized enough for the ladder to adjust. 

Of course, sudden volatility in Bitcoin is always going to produce winners and losers on a futures exchange where people are speculating on the price. However, in this case, our traders ended up losing out due to the issue. Therefore, we made the decision to reimburse those few traders who were affected, which has now been done. 

The developers are already working to fix the issue in the ladder design, along with implementing stop-loss as a matter of priority. This has been well-received by traders in the group:

Weekend Update from the Digitex Mainnet 9

It underscores that the development team has made the right decision in onboarding users incrementally, as it could have been a far bigger issue if we were already open to the public. 

Positive Feedback

Overall, the new group is having a blast with trading on the mainnet, as you can see from Nic, who was reveling in the weekend’s volatility. 

Weekend Update from the Digitex Mainnet 10

Based on our most recent poll, the overall consensus is overwhelmingly positive, and the sudden appearance of a bug hasn’ deterred the enthusiasm for the DFE from our trading group:

Weekend Update from the Digitex Mainnet 11

Traders have also been tweeting about the mainnet, with Tamas describing the experience as a “scalping paradise”:

Cherry Monsoon had some awesome words to say about the ladder interface: 

While Floyd reckons that Digitex is a Binance killer:

We’d like to thank all of our traders, not just for their kind words, but also for being our guinea pig group who help to root out the last remaining issues with the platform so we can get it ready for a public launch. 

Stick with us, and together we’ll make sure that Digitex is the best crypto futures exchange in the world!

traders

We’ve Onboarded the Next 50 Digitex Traders! 

Less than two weeks after we opened the doors on mainnet to our initial group of 20 traders, we’re pleased to announce we’ve just upped the ante! Today, a fresh group of 50 traders has joined, bringing the total up to 70. 

And they’re already loving the experience of live, zero-fee trading! From the moment they made it in, the positive comments have been rolling in:

We’ve Onboarded the Next 50 Digitex Traders!  12

Joel was also happy, particularly so given the impressive 85% gains he managed to reap in his first trading session! 

And Tom was eager to share his screenshot showing gains of 70% from his starting balance of 1,000 DGTX:

We’ve Onboarded the Next 50 Digitex Traders!  13

Onboarding Continues to be Development-Led

We’ve increased the numbers thanks to the fact that the platform has been running so smoothly. Although there’s still the odd bug materializing here and there, we haven’t seen any serious issues. 

However, the development team is being very cautious, ensuring that we’ve seen multiple different trading scenarios take place on the platform before we onboard new users, as a robust way of testing the mainnet. 

Although we’d still love to throw open the doors right now, this approach is necessary to ensure we’re delivering the very best platform that we possibly can. 

Expect More Positive Feedback to Come! 

Our community manager Gary has been very pleased with the way that the onboarding has progressed today. He said: 

“The DFE Mainnet rollout continues, the 20 initial traders are joined by 50 new recruits, and the liquidity continues to increase. No major issues have been identified on the client side, and it appears to be smooth sailing toward the full public launch.”

He went on to say:

“Traders are slightly more cautious on the mainnet rather than the testnet; real money at stake means that people are a little pickier with their trading setups. More and more of the familiar faces in the main Telegram chat are happy with being onboarded and are spreading positive words about the platform.”

You can expect to see some of these positive words manifesting in the form of new reviews and content being shared from the latest recruits. With BTC going off on a tear pre-halving, we can expect everyone to be wildly speculating on how high the price will go. We’ll be adding reviews to the blog and social channels as much as we can, so watch this space! 

As waitlist contest winners, everyone has been automatically allocated their 1,000 DGTX tokens to kick-start their trading. A reminder that tokens have to be traded for a total of 10,000 round turns before they can be withdrawn. 

The Next Steps

So, the burning question for the rest of the community is, “when can we get in?” 

The plan for the next round is that we’ll bring in another 50 in a week’s time, and a further 50-100 the following week. We’re targeting Thursdays for the day we’ll bring in new groups to keep it more scheduled. 

The onboarding continues to be development-led, so you’ll know as soon as we get the green light for bringing in more users after that. 

For the next round, we’ll also be allowing some strategically selected influencers from the trading community to join, as they can help spread the word about zero-fee trading and drive the value of the DGTX token. 

For now, sit tight and be patient – it will be your turn soon!

A Beginners Guide to Digitex Futures  14

A Beginners Guide to Digitex Futures 

By Sulla Felix

As you saw from Cryptrader’s video yesterday, our first group of live traders has been having a ball on the mainnet. So when one of them approached us with a request to create some blog content to ensure that the DFE is accessible and usable even to complete newcomers, we jumped at the chance. So, a big welcome to Sulla, who’s kicking off with some guides to Digitex for absolute beginners. If you have non-crypto friends and want to introduce them to the wonders of zero-fee trading, this piece is a great place to start! 

“What is Digitex Futures? Why do I want it? Where do I get it from? How much does it cost? Where do I keep it? Where can I use it?” 

It’s April 2020 and my Ledger hard wallet holds DGTX tokens for 11 people. Myself, girlfriend, father, brother and seven friends. I feel like the next generation banker. From day one, I advise each of them to buy a hard wallet to store their tokens. And each comes back with the same question – what’s a hard wallet? 

Clearly, I have a lot of work to do. 

For those of us who have been part of the cryptocurrency community long enough to know the difference between a HODLer and a hardware wallet, it’s easy to forget that there is a huge learning curve involved in joining this space. Questions that seem so obvious to those following the Telegram channels are the exact obstacles that scare newcomers away from this opportunity. 

This article will take it down to the very basics, outlining some fundamentals. Ultimately, it aims to help in the understanding of what this technology can achieve, and support those who have little to no knowledge of cryptocurrencies. 

What is Digitex Futures?

Digitex Futures is an online cryptocurrency exchange platform that will allow its users to buy, sell and trade cryptocurrencies with no transaction fees or commissions on trades of any kind. To understand the significance of this you have to understand what a cryptocurrency is. 

To keep it simple – a cryptocurrency is an internet-based virtual currency that has a predetermined quantity and use case. Some say that virtual currencies are the next revolution of the financial system. 

Adoption of cryptocurrencies is ever-growing. Offering the best and most cost-effective platform to exchange these currencies sets Digitex Futures up to be a leading brand in the coming growth of cryptocurrency trading. To compare this to traditional index investing, Digitex Futures is the Vanguard of the cryptocurrency exchange platforms – it will be the only free to use platform within the entire cryptocurrency sector. 

Why Do I Want It?  

Why pay investment and trading fees when you don’t have to?

There are two main types of people who want to buy this currency: Traders and Investors. The Digitex Futures token (DGTX) is required to place trades on the Digitex platform, also known as the Digitex Futures Exchange. If you want to trade with zero-fees, you must use the DGTX token to buy and sell futures on cryptocurrencies. 

Now, this begs the question – what are futures? Futures contracts are used to bet on the growth or decline of cryptocurrencies, commodities, indices, and stocks without actually owning any of the underlying entities. 

We will look at futures in the coming weeks and how Digitex gives its users the edge versus its competition, but for now, the important aspect is zero fees being facilitated by the use of the DGTX token.

This simple use case creates value for traders as they will be able to save on fees, making their trading more efficient and lower risk. This creates demand for the DGTX token because it offers a cost saving compared to trading on alternative exchanges with high trading fees. Over time, these savings will compound to generate significant increases in profitability which we will outline in a future report so stay tuned!. 

Demand drives growth, and growth attracts investors. As an investor, you can buy and hold DGTX tokens the same way you would buy and hold a Vanguard ETF or company stock anticipating a return in investment due to compounded growth. In this case, that return on investment is through the growth of the Digitex token. After all, Digitex is simply a company that wants to make profits and provide for its investors. 

Where Do I Get It From? 

As of now, the most efficient way to buy the DGTX token is using Ethereum. 

What’s Ethereum? It is the blockchain that the Digitex token is built upon.

What’s the blockchain? It is the technology that allows for secure transactions across the internet. 

So Ethereum is a cryptocurrency that allows other cryptocurrencies to develop by renting its infrastructure. In crypto, Ethereum is the road that Mercedes, Ford, Toyota and other vehicles drive on. So, you buy Ethereum (ETH) and then you exchange it into Digitex (DGTX). 

Here is the breakdown of how to do this. 

  1. Set up a Coinbase account. What Netflix has become to streaming, Coinbase is to access cryptocurrencies. If you have a friend get them to send you an invite link and earn a little reward.
  2. Make sure you set up a 2-factor authenticator process for security, with codes sent to you by either phone, email, or via an app.
  3. Submit Identification. This is part of what is known as KYC (Know Your Customer) and is done for taxation and fraud purposes.
  4. Set up your payment details with Coinbase. A word of advice, use your bank account if possible, and not a credit card. Credit cards incur a 4% transaction fee on Coinbase and should be avoided if possible. Some countries cannot avoid this but if you can, you should.
  5. Buy Ethereum (ETH). When you purchase Ethereum you will see an exchange rate. At the time of writing, 1 Ethereum is worth $200USD so if you’re like my girlfriend, and you buy $3 worth of Ethereum, after fees you will only get 0.00711342ETH. 

Congratulations, you now own a cryptocurrency! It currently lives in your Coinbase account wallet and you can see it in the Portfolio tab. 

  1. Open a new tab in Google, type in ‘Mercatox’, hit enter. This will bring you to an exchange called Mercatox where you can use Ethereum to buy the DGTX token. There are other exchanges that you can also use called HitBTC, Changelly, and CryptoSouk but my personal favorite is Mercatox because there are Zebras in the troll box. 

(You can buy DGTX coins from the Digitex Futures Exchange itself if you own a cryptocurrency hard wallet by simply sending Ethereum to the Digitex Treasury. However, if you do not have a hard wallet or do not know what a hard wallet is, keep it simple and go to Mercatox for now)

  1. Set up your 2-Factor Authenticator on Mercatox. Always do this to increase the security of your account.
  2. When you have the Mercatox account setup, login and navigate to the E-WALLET tab at the top of the page. This is where your cryptocurrencies are stored on the exchange. Now, you want to send your recently purchased Ethereum to this wallet. To do this, click on the green deposit button seen below.
  3. This will open the following view, which is known as your wallet ID. This is essentially the routing number for your Mercatox Ethereum Wallet. Copy this number by clicking the copy button on the right. 

(Note: Your number will be unique to your address and will not be the same as below. This is my wallet address, do not send Ethereum to the below address – unless you want to send it to me.)

  1.  Go back to Coinbase and Navigate to your Portfolio. In this you will see Ethereum, click on it and you should see the below screen.
  2. Paste the Ethereum Wallet ID that you copied from Mercatox into the ‘To:’ section on the right. Click send all. Then Send.
  3. Confirm your transaction – security password.
  4. Wait a few minutes… 
  5.  Ethereum will arrive in your account on Mercatox and look as follows.
  6. Go to the Trade section of Mercatox. On the right you will see a list of trading pairs. This is where you can swap different cryptocurrencies at their given exchange rate. Click the star beside DGTX / ETH to favorite it, and click on DGTX / ETH to be able to trade it. 
  7. You will now see a chart for the DGTX price compared to ETH. When you scroll down there will be the buy and sell panes. This is where you can add orders to the book. The book is a list of buy orders (bids) and sell orders (asks) that are above and below the current market price. The bidders want to buy as cheap as possible and the askers want to sell as high as possible. So there’s a constant stand-off until one side of the book gives in. Now, if you want to buy, click on the top sell order.  In this case somebody is looking to sell 614.96DGTX at a price of 0.00021830 ETH. We have 0.0069ETH and so we can afford to buy 31DGTX at this price. Hit buy. 
  8. Congratulations you now own DGTX! You will be able to see it on the exchange in the E-WALLET section. 

It is advised that you do not keep large sums of money on an exchange, instead you should buy a hard wallet and transfer the DGTX to your hard wallet. A hard wallet is like a USB stick for accessing your funds and means nobody can access them without first stealing your physical stick and passwords. 

How Do I Use them?

In upcoming blog posts, I am going to demonstrate the functional use of the Digitex Futures Exchange and break down what all the different numbers that you see when you log onto the exchange mean. I hope to really help those who find it confusing the first time they use it so that they can get the most out of this platform. 

As of now, the Digitex platform has opened its doors with what is called a soft launch. It has onboarded 20 traders who have been willing to trade their DGTX tokens on the platform to test its function before full-scale adoption. Luckily for me, I am one of those traders.  

Very soon Digitex will be onboarding more traders to add to this and then we will see it open to the masses. So, grab some Digitex before it’s opened to all, sign up, and join the queue to be part of the early traders on the platform that is the future of futures trading.

cryptrader

First Week of Live Trading on the DFE Mainnet with Cryptrader

If you’ve been reading all about the Digitex mainnet and have been dying to take a look for yourself, then your wait is over. Cryptrader is one of the first 20 traders using the DFE on mainnet, and in this video, he showcases some of the live trades that happened over the first week since we opened the doors

Cryptrader opens the video by saying that the platform has worked exceptionally well, with zero-lag or freeze times over around 18-20 trading hours in the first week. 

We’re also seeing crazy volume considering there are only 20 traders online, upwards of $10 million each day. So, once we start onboarding more and more users, you can see how the volume will quickly start to rival some of Digitex’s biggest competitor exchanges. 

Cryptrader explains that with the small number of traders, he has been limiting his position sizes to make sure his orders get filled efficiently. Nevertheless, he still turned a profit of 13,800 DGTX in the first week – around $600, representing a gain of over 27%. 

Scalping Profits on the DFE – in Action

We then dive into some of the videos shared by the live traders in the last week. Blocks of Freedom demonstrates how scalp trading can be used to ride a wave of price action. With an initial long position of around 3,000 contracts, he takes full advantage of zero-fee trading by continuing to buy low and sell high, scalping out gains along the way. In this way, he reaped more profits than he would have done by only buying and holding the same long position. 

WhyLose is next up, using similar tactics in a short trade to generate a fast $150 in profit. He also opts for a bare-bones setup with only the ladder and his own trades visible on the screen. 

Cryptrader then shares one of his own sessions, with his preferred setup showing a lot more information such as order flow and charts. He also demonstrates a short trade, waiting for a head-and-shoulders pattern to break down so he can start scalping profits from the order. 

He finishes up by saying that he’s blown away by the profitability he can achieve on the DFE. This is exactly what we had hoped to hear from our traders as it fulfills the Digitex vision – to create more winning traders. 

Cryptrader is live streaming many of his own trading sessions, so if you want to see more action from inside the mainnet, you can follow along on his YouTube channel.

And if you don’t yet have an account on testnet, then sign up now to make sure you’re on the mainnet waitlist! 

Digitex Chief Technology Officer Alex Lozoviuk

Team Spotlight – Chief Technology Officer Alexander Lozoviuk

The technical development of the DFE is one of the most important roles in our business. So we’re delighted to turn the Team Spotlight onto Digitex’s Chief Technology Officer, Alex Lozoviuk! 

What Does Alex Do at Digitex?

As the Chief Technology Officer of a cutting-edge crypto futures exchange busy with a mainnet opening, Alex has big responsibilities on his shoulders. He’s the interface between the current SmartDec development team and the new team in Kyiv that will manage the technical operations and development of the DFE going forward. 

While we will continue to work with SmartDec for specialist development of the DFE and other new projects, the technical operations team will be deep subject matter experts in the running of a futures exchange. They’ll be responsible for the ongoing development and maintenance of the DFE platform, including creating advanced trading features and improving the overall functionality and user experience. 

Alex summarizes it:

“I’m responsible for all the technical and development processes for DFE. At any time, I answer tech questions and help team members understand how their ideas could be implemented into the code and working solutions.”

What does this mean in terms of a typical working day for Alex? Well, as Adam alluded to on his most recent AMA session, we have a lot of hiring going on right now. Alex is working to build the development and operations teams for the DFE, but also for some of our other (yet to be unveiled) projects! 

Alex describes his typical day as Chief Technology Officer as an “infinity loop.” Like most people, he kickstarts the day with a cup of Joe. After getting suitably caffeinated, he starts on email and Slack messages, getting up to speed with documentation, then several rounds of meetings, and team chats via Skype and Telegram. 

The current focus on hiring means he’s spending a lot of time filtering CVs and interviewing candidates. Finally, he also makes sure he’s up to speed with all the latest developments in the crypto space by taking in a daily dose of crypto news and articles. 

Then, as he says, “dinner, and a new round of work!”

How Alex Got Involved in Crypto

Even before he got into crypto, Alex was working within the fintech space for a startup called TRDATA. There, he progressed from a developer role to becoming the CTO with a stake in the company. 

But he was one of the earlier entries to the crypto space, having first started trading Bitcoin and Litecoin back in 2013. He enjoyed it so much he started a “pet project,” developing a cryptocurrency index calculation comparable to the S&P 500 index for stocks. 

From there, he’s gone on to launch two more businesses. In 2017, he co-founded a global market data provider called CoinIndex, with indices for over 45 markets and sectors. 

His latest venture is a market data tracker called ContractMarketCap. 

So, when Adam said we have guys who’ve literally worked with every exchange out there, he wasn’t exaggerating! 

How Did You Get to Know Digitex? 

Alex first came across Digitex in early 2019 as part of his research into crypto derivatives for CoinIndex. Evidently, the concept of the DFE made an impact on him because, as he says:

“I couldn’t figure out why I hadn’t got involved in Digitex from the ICO.”

What does he like most about being part of Team Digitex? Alex says it’s the sense of freedom you get from working at a crypto startup, along with:

 “The feeling that we’re working on a gorgeous project which can disrupt this market.”

He also cited Adam’s energy and commitment to his vision as something that inspires and motivates him and describes the Digitex staff as a “dream team.”

Along with Digitex, Alex is also interested in the decentralized finance space. Due to his business ventures, he also follows the development of crypto services such as CoinMarketCap and Messari closely. 

What’s the Crypto Scene Like Where You Live? 

Alex works in Digitex’s new hub location of Kyiv. He explains that there’s a large and active blockchain community in Ukraine, and as the capital city, Kyiv is a natural gathering point for enthusiasts and professionals in the space. 

He elaborates: 

“Most teams are distributed and work globally, so often during our regular meetups we some of the brightest leaders from different projects. We are close to people involved with EOS, Ethereum, Tezos, and Solana, for example. But we’re also often talking about ideas and cutting-edge technology such as zero-knowledge proof, privacy innovations, blind signatures, and so on.”

So in between his various business ventures, his busy networking schedule, and his full-time job as Chief Technology Officer at Digitex, does Alex even have any free time? 

He laughs: “Free time – what’s that?”

However, when he does have a few hours free, he likes to indulge his movie addiction. Amazingly for such a busy guy, Alex has watched over 5,200 movies in total! He’s also something of a food lover, telling us that he enjoys a good steak, beer, wine, chocolate, and of course, coffee. 

Thanks, Alex, for taking the time to let us get to know you a little better!