It’s now a matter of time before Digitex Futures, a fast-rising futures exchange in the Blockchain space, unleashes its zero-commission incentive. The platform is reportedly ready to introduce futures markets with a major focus on forex, ordinary commodities, indices and metals in its portfolio.
According to an alert posted on the official website of Digitex Futures, the commission-free futures exchange will commence after a public launch that’s slated for April 30th, 2019. The startup has already surpassed a million people on its signups whitelist, a feat that is nothing short of impressive.
Among the major goals of Digitex Futures is to bridge the gap that exists in today’s exchange market. This gap, according to Digitex, exists because the heavily regulated exchanges charge ridiculously high fees. If the customers, however, turn to the smaller and cheaper platforms, they are faced with the susceptibility to fraud and cryptocurrency criminals.
A perfect example happened just recently in New Zealand. The country’s popular crypto exchange, Cryptopia, suffered the brunt of hackers, losing over $16.1 million in customers’ funds stored in the platform’s Ethereum wallets. There have been more similar cases, especially amongst centralized exchanges.
Decentralized exchanges have attempted to offer better alternatives in the wake of the increased attacks. But despite offering lower fees and promising more hacker-proof security measures, most of them still register low rates of adoption, according to Digitex.
Digitex – a Timely Alternative Futures Markets Platform
It’s because of this that Digitex is solemn with its quest to lead the way. As at now, it has possibly the most vibrant crypto communities with a Telegram channel whose 65,000 members engage in endless meaningful conversations throughout. On top of that, it now has over a million signups, all of them eagerly waiting for the platform to go live.
Fueled by the investor enthusiasm, plans to launch it already at an advanced stage. April 30th is the day and it’s now a matter of time before one of their goals becomes a reality. Digitex is optimistic that by providing automatic market makers, an intuitive UI as well as guaranteed liquidity and zero trading fees, they’ll have served the crypto community what it has been praying for.
The exchange will be commission-free, but that’s not all. Within the platform, users will use the DGTX token – Digitex’s native coin, available on Digitex Treasury. The idea behind making the platform commission-free, therefore, is to increase the demand for the tokens.
Away from the launch, Digitex is planning to take advantage of it and unleash a mobile app. The app, they say, will be specifically for the on the go, rapid-fire trading.
Details of Digitex’s Futures Markets Model
Digitex’s foray of the futures markets will expose it to the world of forex, indices, metals and commodity exchanges. This company expects to expand its portfolio and reach the ordinary zero-commission trading-loving retail futures traders. Once the ball has successfully rolled, Digitex will introduce spot markets, all for the convenience of the customers.
The platform is built on top of the impenetrable Ethereum Blockchain and as the company states, they will be among the first ones to adopt Eth’s Plasma protocol. One exciting thing with the protocol is that Digitex Futures will not be the custodian of the funds of its users – everyone will own their own private key. Also, balances will effectively be relayed to a smart contract built on the Blockchain.