The Results Are in - Outcome of Community Vote on Treasury Affiliate Program
After revealing the launch date for the mainnet last week, Adam held an AMA on Tuesday in which you had a ton of questions. Most of you wanted to know what features will be available upon mainnet, how the onboarding will work, and what markets we’ll support, (if you missed it, be sure to check out the ). However, some of you expressed your concern over our Treasury Affiliate Program.
The Digitex Treasury Affiliate Program
For some weeks, our Community Managers have been fielding discontent over the mechanics of the current Affiliate Program with regards to the Treasury. A growing number of you believe that affiliates who buy DGTX from the Treasury and then sell them on the exchanges are keeping the token price down.
Adam addressed this question in the AMA. He said that he personally didn’t believe that the program was affecting the price. He admitted that he loved the Affiliate Program since it helped us to sell-out the Treasury last quarter and (colorful as ever) stated that he had “paid $15,000 for that thing.” However, if the majority of the community has a problem, then that problem needs to be addressed.
As a result, Adam floated a few ideas around during the AMA which we later discussed as a team and created a poll to take to the community. We wanted you to help us decide the best way forward for the Affiliate Program and the future mechanics of the Treasury.
The poll ran for 24 hours on both Twitter and Telegram and the results are overwhelming, as you can see below. Option C was far and away the most popular of the three choices. This means that we will be implementing it immediately.
The Twitter Poll
Based on overwhelming community feedback, we’re running a poll to decide the future of the Affiliate Program & #Digitex Treasury. To participate, please select one option below. Find full details in this blog post here: https://t.co/dBb5Bz3Uda— Digitex Futures (@DigitexFutures) February 5, 2020
The Telegram Poll
Recap of the Options
We laid out the options in a blog post prior to the poll, but here’s a quick recap on the three different paths forward we presented, A, B, or C.
- Option A - Maintain the Current System - Keep the Affiliate Program and maintain the minimum Treasury price of DGTX at $0.05
- Option B - Terminate the Affiliate Program + remove the $0.05 Minimum Treasury Price + set Treasury price to be equal to CMC price - Switch off the Affiliate Program, remove the $0.05 minimum Treasury price, and set the Treasury price of DGTX to be equal to the price of DGTX on CoinMarketCap
- Option C - Terminate the Affiliate Program + remove the $0.05 minimum Treasury price + set Treasury price to be 5% above CMC price + Give 10% Bonus to Treasury Buyers - Switch off the Affiliate Program, remove the $0.05 minimum Treasury price, and set the Treasury price of DGTX to always maintain a 5% premium above the current price of DGTX on CoinMarketCap. Treasury buyers will also receive a bonus of DGTX tokens that is equal to 10% of their purchase amount, which they will receive directly into their DFE trading wallet when the mainnet launches.
The End of the Affiliate Program and 5 Cent Minimum Price
From here on in, as decided by the community, we’ll be saying goodbye to the Affiliate Program and we will also be removing the 5 cent minimum. will maintain a 5% premium above the current DGTX price on CoinMarketCap, and buyers will receive a 10% bonus on their Treasury purchases. They will receive this in their trading accounts upon the mainnet launch.
This will have a double-effect. We’ll reward people for buying from the Treasury as the Affiliate Program did, but they’ll have to wait for their bonus. This is far more likely to weed out the “dumpers” and ensure that only serious traders stock up on DGTX in time for the mainnet launch.
How to Take Part in the New System
The new system goes into effect today. In fact, as you read this post, we have already scrapped the Affiliate Program and implemented the programming backend necessary to enable the 10% bonus. If you want to get DGTX from the Treasury and enjoy a 10% bonus when the mainnet launches, here’s what you need to do:
If you haven’t already, on the Digitex beta. This will be the same as your mainnet account. Use the same email when making your purchase on the Treasury. When the mainnet is public we will deposit your 10% bonus directly into your Digitex Futures exchange trading account.
A Few T&C to Keep in Mind
Since this is an experiment and we all want what is best for the DFE, Digitex reserves the right to suspend this promotion at any time. If we see that it is not acting in the best interests of our community, we will be forced to rethink.
Also, keep in mind that the 5% premium is subject to both ETH and DGTX fluctuations as well as the size of the spreads on exchanges. It will, therefore, rarely represent 5% exactly, although we will do our best to ensure that it stays as close as possible to this level by resetting the price every 20 minutes.
The promotion will run only up until the mainnet and finish on April 27. So, if you want to take part, be sure that you do so before that date. Finally, once again, no U.S. citizens or other restricted countries can take part.
We hope that you will be pleased with the decision we have made. We listened to the majority vote and are pleased to be able to deliver something that the community asked for. Let us know what you think and be sure to keep trading in the Battle so you can either purchase - or win - your DGTX ahead of the mainnet launch!