On 17th June, Digitex made a big announcement. On 1st October, Founder and CEO Adam Todd will be transferring the ownership and governance rights of Digitex Ltd, a Seychelles company, to a decentralized autonomous organization called the DigiDAO. The DigiDAO is represented by one billion (1,000,000,000) DigiDAO (DGDAO) tokens. Those who hold Digitex (DGTX) tokens on the Digitex Futures exchange will receive DigiDAO (DGDAO) tokens. So if you’re interested in receiving your share of the Digitex Futures exchange, there are several ways you can buy Digitex (DGTX) tokens before the launch.
How Does the DigiDAO Work?
As a reminder, the DigiDAO will create one billion new tokens called DigiDAO (DGDAO) tokens, which will represent equity ownership of the Digitex Ltd., which owns the Digitex Futures exchange. 80% of these tokens will be disbursed freely to Digitex (DGTX) token holders who have deposited their Digitex (DGTX) tokens on the Digitex Futures exchange. The distribution of the one billion DigiDAO (DGDAO) tokens will take place over five years, starting from 1st October 2019.
The value of Digitex (DGTX) tokens increased by over 20 percent in the few hours after the Digitex DAO announcement was published. This is a strong indicator that the DigiDAO (DGDAO) token is of high interest to our community members. With plenty of time to go before October, there are several ways to buy Digitex (DGTX) tokens if you want to get involved.
Buying DGTX from the Digitex Treasury
The Digitex Treasury is one of the easiest and most secure ways of buying Digitex (DGTX) tokens. You simply need to create an account, send Ether (ETH) to the wallet address provided, and the Treasury smart contract will return the corresponding value of Digitex (DGTX) tokens to the wallet you used to send the payment. It’s instant, trustless, and completely secure.
Because the Treasury smart contract transactions are automatic and irreversible, it’s imperative to make sure that the wallet you use to send the ETH tokens is compatible with Digitex (DGTX) (ERC20 compatible, such as MyEtherWallet). If the smart contract sends your tokens to an incompatible wallet, they’ll be lost.
Treasury prices are at a slight market premium above the market rate; however, there are no exchange fees to pay nor hoops to jump through creating an account. Furthermore, Digitex (DGTX) tokens sold from the Treasury are a source of ongoing funding for the Digitex Futures exchange, as all Treasury proceeds are directed back into operations.
The Treasury provides a sustainable and transparent means of funding our operations over the coming years, demonstrating our long-term commitment to making Digitex a success.
And if you’re buying Digitex (DGTX) tokens because you want to collect DigiDAO (DGDAO) tokens, then making a purchase from the Treasury makes even more sense, as it exists to help secure the long-term future of your investment.
Keep in mind that Treasury purchases will be subject to KYC checks and unfortunately, aren’t open to buyers in the U.S.
Buying Digitex (DGTX) tokens from a Cryptocurrency Exchange
Digitex (DGTX) tokens are also available for purchase through our exchange partners. For Ether (DGTX/ETH) and Bitcoin (DGTX/BTC) markets, you can buy through HitBTC, Mercatox or Coinexchange. HitBTC also offers a Tether (DGTX/USDT) market. You’ll get a slightly better exchange rate than buying through the Treasury, but you should check the final transaction amount as these trading platforms all charge fees.
If you prefer a fiat conversion, Changelly allows the option of instant exchanges made using a credit card. Fees will likely be higher than a crypto-to-crypto trade; however, it may be a more convenient option if you aren’t currently HODLing any cryptocurrencies.
Coinswitch is an exchange marketplace, taking the effort out of having to check the exchanges for the best rate. It aggregates all available offers from different exchanges, meaning that it will look through all the available markets to find the best rate for you at the time.
Like Changelly, it enables payment with a credit card and saves you the hassle of having to open an account with different exchanges as everything can be done through the Coinswitch interface.
You’ll pay Coinswitch’s fees when using the service, so again it’s worth checking and deciding what you’re willing to pay for convenience.
No matter how you buy your Digitex (DGTX), you’ll need to make sure that they’re deposited on the Digitex exchange in advance of the DigiDAO (DGDAO) launch date on 1st October. This will guarantee your share of the daily DigiDAO (DGDAO) token disbursement and we’ll be explaining how you can do this closer to the launch time.