With onboarding to the Digitex Futures Beta version starting this week, we’re feeling optimistic! With such a powerful way to start the year, this is only the beginning. There are so many milestones to hit in our 2019 roadmap and with the first treasury sale taking place on 1st March, just imagine where Digitex is headed!
It’s going to be a jam-packed year for the Digitex community. Traders will finally be able to test our commission-free futures trading platform. Keep in mind that the Beta phase will last all through Q1 of 2019. We’ve also reopened the Early Access Waitlist, and let you know all about our roadmap and plans to finance it.
But let’s recap a little on some of the questions you had and what type of projections we see possible as the token sales begin in March.
A Potential Digitex Treasury Outcome
One of the questions raised from Adam’s AMA the other day was about our goal of raising $55 million over a two-year span. We projected that if DGTX price rises in a linear way and goes up to $1 per exchange token, this could be a reality.
While it sounds like a lot of money at first, this is par for the course for our biggest competitors. As Adam explained, major exchanges like BitMEX spends this kind of money on simple infrastructure.
So when asked why we needed to raise so much money or if we’d consider putting a cap on the raise, he said:
“I don’t see why would want to limit the fundraise… For what we’ve planned, is it really a lot of money? BitMEX spends $5 million a year on their offices, forget anything else, that’s what we raised for our whole ICO and to build the whole thing and work over the last year. These are the people we want to compete against… I don’t think we should limit the raise.”
We Don’t Want to Cap Innovation
We don’t want to cap the amount of money that we can raise because the more funding we have, the more we can do, plain and simple. We can offer spot markets as well as futures to bring new eyes to the exchange and increase DGTX demand.
With additional funds from the Treasury, we can expand into Asia, Latin America, and Eastern Europe speaking to customers in their local language and offering local support. There’s no limit to the number of ways that we can use the funds–nor how positively it will impact the exchange and its users.
In fact, here’s just a small example. Another of your questions was when will we list our token on Binance? Well, you may or may not be aware that listing a token on a major exchange costs a lot of money. As Adam said:
“We’d rather get the fundamentals right first, launch the product and get things working and build our community. That’s a much better way than getting on big exchanges–which costs an absolute fortune, by the way. Money that can be allocated to building the product rather than paying for exchange listings.”
We preferred to plow ahead with the development of the product and ensure we deliver what we promised. But with more funds, we could decide whether listing on more exchanges would be beneficial or not for our users.
Funds for Development
Every plan that we propose in our roadmap is designed for the good of the exchange and the community. We already managed to go from an idea to a working Beta exchange in as little as 12 months. Imagine if we had more funds! We could expand the development team significantly and build out the exchange and a suite of products even faster.
Digitex always wants to incorporate the latest technology. Working to add Plasma into the exchange required funding. If we always want to be on the cutting edge, having a reserve of funds would enable us to fulfill this goal.
Funds for Marketing
As Adam said in his AMA, we’ve been working on a fairly modest marketing budget and you’ve seen what we can do with that. We amassed a massive 850K+ people to join the waitlist, we’ve made a splash for Digitex, taken advisors on board, and expanded the team.
We’ve also nearly completed our site translation into Russian and appeared in the international media. Just imagine what we could do with a bigger budget. We would be unstoppable!
The Key Takeaway
The Digitex Futures hybrid exchange will be among the most sophisticated products out there. With the best marketing to make sure it reaches all the right people and a strong and expanding development team, Digitex will not only become a top 10 exchange but maybe even speed up the mass adoption of crypto.
Users will love the ease with which they can trade both futures and spot. The one-click ladder trading system will be a major change in the way that people trade whether they’re futures traders or HODLers.
So, we hope that answers your question. We don’t want to limit how much we can do, we want to go from strength to strength.