It’s now less than forty days until we launch the groundbreaking commission-free Digitex trading platform on testnet! While the SmartDec team continues their tireless efforts in testing and bug fixing, we wanted to start off the week with some general updates. We’ll also provide answers to some of the questions that have been rolling in from the Digitex community.
DGTX Rallies in Response to First Look
Last week, we released the latest look at the user interface for the Digitex Futures trading platform. This sneak peek went down a storm with the Digitex community, producing the happy side effect of boosting the price of the DGTX token by around 20 percent!
The price has continued to hold up well since then, providing a reliable indicator of positive price performance once we launch on the testnet. Given there were no other major market movements last week, the DGTX price jump is a clear, direct response to our development progress and preparation for the testnet launch.
In early September, we announced that we would be launching the Digitex Affiliate Program. So far, the program has been proving a hit. Thanks to our affiliate supporters, we brought in near 800 ETH worth of Treasury sales, and those supporters will be pocketing 15 percent of that! To put it into perspective, that’s nearly $20,000 distributed in affiliate commission, in a single weekend.
Want a piece of the action? Make sure you have your affiliate link and start sharing it! Find out more on our affiliate page.
We want to give a big shout out to all those who’ve already been referring. Sales from the Treasury are providing a sustainable means of funding the exchange over the next two years. All proceeds go towards the operational costs of launching and running a zero-fee trading platform.
So, to our affiliate partners – keep up the great work!
Your Questions Answered
Many questions have been popping up on the Digitex community channels recently. Given that the social channels move so fast, we’re sharing the answers here so everyone can see them.
Q: Is there any info about how many positions you can open at the exchange when we are live?
A: The testnet won’t impose position limits, as it will only operate with play money in any case, and we want as much testing activity as possible. Later, when everything is working correctly, and we launch on the mainnet, we can start introducing some of these rules.
Q: Will OCO (One-Cancels-the-Other order) be added on the platform?
A: Yes, but not for the initial testnet launch.
Q: Will traders be able to do a full KYC ahead of the full launch?
A: Yes, we will open KYC prior to the full launch. Once it’s live, we’ll announce it via all the usual channels.
Q: After mainnet launch, when can we expect to have a real-time-API to access things like Times&Sales, L2 data, order-placement, position-control, or historical price data?
A: This is up to SmartDec to answer. We’d like to have a fully functional API ready for when we launch the mainnet but can’t confirm that right now.
Q: Will you implement conditional trading features such as “buy BTC if the price goes over $13k” or “sell BTC if the price goes below $8k”?
A: Again, this won’t be available with the testnet launch.
Q: Once we have more markets on Digitex futures, can we just put multiple ladders next to each other? Not necessarily with any price history or anything – just ladders showing different markets?
A: Yes. Once we implement multiple markets, we want to make them all visible on the same page.
We realize that many of these answers are similar – that extra features will come later once we’ve launched. It’s important to understand that the core focus for the initial launch must be on getting the basics right. The user interface and matching engine working smoothly is our only priority right now.
Of course, we want to add a ton of features and tools, and we will. But this will come later. To use an analogy, you have to build the house before you can start decorating it and putting in the furniture, right?
What to Expect Next?
As we move closer to the testnet launch, we will be releasing a full demo of the Digitex exchange in action, so all our supporters can see the capability. We’ll also be onboarding our first round of alpha testers.
By the end of November, we will have onboarded the 10,000 Digitex traders who will be putting the testnet platform through its paces. This will be a critical phase in preparing to unleash commission-free trading into the crypto world!
Once these guys have tested and re-tested every single element of the exchange, in their thousands, and once we’ve ironed out every bug and glitch they find, only then will we release Digitex to the public on the mainnet.
Because we don’t know exactly how long that will take, we aren’t currently able to commit to any other date than the testnet launch on 30th November. Once we start testing, we’ll be in a far better position to assess the work needed to get us over the line to a mainnet launch.
One thing we do know – 2020 will be the year of the zero-fee trading revolution! Thanks for sticking with us!