Digitex CEO Is Determined to Fulfill His Vision
While Adam’s decisions to delay the exchange launch on two occasions have received much criticism, it's clear that an industry-defining idea like Digitex needs a singular and dedicated commitment to its vision, if it’s to fulfill on its promise to disrupt an industry. Contributor Luke Green shares his opinion.
Digitex - A Singular Vision
We all have ideas, right? You’ve probably had or will have a few great ones over the course of your life. However, the odds are you won’t see them to a conclusion. Why is that? Well, the simple answer is because it’s bloody hard! Because the odds are actively stacked against you.
Thomas Edison once remarked, “Genius is one percent inspiration, ninety-nine percent perspiration”-and he would know, failing perhaps thousands of times before eventually finding success. It’s through this unforgiving filter that only the most tenacious and determined manage to pass.
This kind of determination often gives rise to a very singular vision. One that provides the fuel to see things to a conclusion, no matter what the hurdles are. Ultimately, when you have this mindset, no challenge you face is insurmountable. Every setback is an opportunity to grow, hustle, and strive. And you're often taking one step back for every two steps forward, each time getting closer to the realization of your idea.
Yes, this all sounds a little heroic, and of course it takes guts, but in reality, it’s simply about staying true to your original idea. Guiding it safely through the many challenges along the way. Especially when a great idea challenges an established convention. It has to be protected from those that seek to dilute, change or comprise it, simply because it’s difficult or hasn’t been done before.
It’s clear while watching the progress over the past 16 months that Digitex Futures has been in the throes of this journey. We’ve seen Adam’s passion and idea move from a whitepaper to a fully-funded ICO and beyond. We’ve all been invited to take part and watch the progress play out in dramatic realtime.
Digitex Unique Brand Value
Digitex Futures has a unique appeal for its holders and customers-or as marketing gurus would call it a “unique brand proposition.” While almost every business in existence claims that “its interests are aligned with its customers” it’s a very rare organization that actually transparently bases its entire business model on that exact concept.
Digitex Futures is, of course, a blockchain project but importantly it’s not just in the implementation. It’s also built deeply into its culture too. Whether it’s the decision to move to a DAO to remove “key man risk” or as recently discussed with Jacob Canfield, creating a “provably fair” matching engine. Everything Adam and his team do aims to further strengthen Digitex Futures as an exchange that stands apart to work for its traders and not against them.
As Adam has remarked, this is not out of some “airy-fairy save the world” motive, Digitex Futures is of course not a charity. It's simply an innovative and efficient business model. And by intelligently using the real promise of blockchain technology it’s possible to align everyone's interests. From token holders to traders, from exchange owners to Adam and his team, we all share the same goal to see a successful platform launch and see the DGTX token appreciate.
Great UX & Liquidity
This dedication to quality and brand values is not just about creating a great looking and easy to use futures exchange, of course, that's vitally important. But it’s also about preserving and encouraging the Holy Grail of a successful exchange--liquidity.
As a former trader, Adam knows this is critical. Liquidity allows traders to quickly enter and exit positions and as a result, attracts even more traders to the platform. Liquidity begets liquidity.
Driven by this understanding and the fact the crypto space is littered with abandoned DEXs and failed exchanges with no liquidity, it stands to reason that Adam is setting the bar high. You only get one chance to make a first impression.
Most DEXs are struggling to win over a significant user base and are dogged by problems from high latency to low liquidity. A recent report explored these issues and even found that DEXs are vulnerable to exploitation by algorithmic trading programs allowing them to take advantage of this latency to engage in front-running. This is something that will be physically impossible through Digitex’s provably fair matching engine.
Moreover, while decentralized exchanges such as IDEX and Kyber Network may be slowly improving, 407 users over a 24-hour period is hardly a liquid exchange. And this is far from Adam’s goal of providing hundreds of thousands of users with highly active liquid markets from the get-go.
It’s not only the smaller players that have delivered products that leave users underwhelmed. Even the mighty Binance has suffered some unfavorable reviews in its haste to release its futures platform.
Adam won’t rest until the Digitex Futures exchange lives up to and even exceeds its community’s expectations. The company is going all out to make sure the marketing creates huge demand, the tokenomics support a highly liquid exchange from launch, and that the platform earns its place as one of the market leaders in quality of user experience and liquidity from launch.
Being the Change
With such a clear and transparent brand proposition, the Digitex Futures concept has created a huge amount of demand and attention. Of course, everyone wants the chance to make money and this has been both a blessing and a curse for the project.
Obviously, on the plus side, it has brought in a huge amount of speculation, capital, and interest. On the flip side, it has also contributed to immediate negative reactions when delays or unpopular decisions had to be made. There have undoubtedly been some very difficult decisions at very key moments for Adam and the project.
We since learned from Adam that in the case of both delays, Digitex could have muddled through a launch. However, in both cases, the platform he was faced with did not live up to the vision and brand values of the project. In respect to the second delay, when your key business proposition is an exchange that's provably fair and your dev team provides an exchange that's rounding up positions against traders, then you have two options: either completely compromise your project goals and values or take the long-term view refuse to compromise.
While Adam has admitted to making mistakes along the way, he has effectively chosen the harder path for the long-term value of the project. That shows the kind of commitment and authenticity required to deliver an exchange that isn’t just lip service to an ideal: it is the pure manifestation of its business model.
In essence, Adam wants the exchange to be the change he wants to see in the industry. Anything less than this is a betrayal of both his original vision and the potential success of the project.
Digitex Futures writers and/or guest authors may or may not have a vested interest in the Digitex Futures project and/or other businesses mentioned throughout the site. None of the content on Digitex Futures is investment advice nor is it a replacement for advice from a certified financial planner.