Yesterday, Adam revealed more information about what we can expect from the massive Launch Day Trading Event we’re planning for July 31. With over $250,000 worth of DGTX and merchandise to distribute, it’s going to be one of the biggest single-day giveaways in crypto. Here, we share some more information regarding how it will work on the day.
First up, some more volume insights. Yesterday, Adam mentioned that we’d hit a record high of $500m in 24-hour volume earlier in the week. Those numbers are continuing to hold up well, with comparable volumes over the last few days. For all those who think that the real volume in cryptocurrency futures comes from institutional traders, check out the chart below, showing BTCUSD futures trading volumes on the CME over the last week.
So the DFE is currently outperforming the CME. What’s more, with over a week to go until the public launch, we’re already demonstrating how easily we can outperform BitMEX:
Bearing in mind that BitMEX currently offers 100x leverage, and we’ve only just moved to 25x, and it’s evident how quickly the DFE could overtake these volumes.
Adam has this to say:
“With such high volumes before the exchange is even open to the public, some people might cry foul, assuming that these numbers represent the kind of wash trading seen on other exchanges. But we’ve invited over 30,000 traders in the last few weeks, and their response to the platform has been overwhelmingly positive.”
He explains further:
“Our zero-fee model combined with a one-click ladder trading interface means these traders have completely changed the way they trade. Unencumbered by crippling volume-based transaction fees means traders actually behave differently on the DFE, with the average trader carrying out a higher number of transactions than they would on other platforms. Digitex has literally changed how people trade, creating highly liquid markets in the process.”
This isn’t simply rhetorical – the DFE is transparent. Anyone can look at the order flow and see for themselves that the DFE volume is real peer-to-peer trading with a maximum of one tick spread, no matter how volatile Bitcoin gets. DFE market makers represent only around 3% of the bids and the offers on the ladder. Once we open to the public, and with the power of the API to magnify trading volumes, we fully expect volume to trend even higher.
It’s thanks to our loyal and supportive community that we’re storming ahead like this – we provide the exchange, but it’s the community that’s driving it. That’s why we’re giving away such a massive prize pool next Friday. We want to reward all of our users for their collective effort in building a beast of an exchange and together we can make it the most active and liquid platform on the market.
So here are the answers to all the questions about how things will work during our July 31 giveaway. Also, if you’re a winner of the third waitlist contest and still waiting to receive your DGTX airdrop, read on to the end to find out how you can claim your prize.
Your Questions, Answered
Q: I’m a waitlist winner. Do I need to deposit another 1000 DGTX, or are my 1000 DGTX from the waitlist airdrop enough for me to qualify for the giveaway?
A: You just need to have 1000 DGTX in your mainnet account. Those who won waitlist contests are also eligible to participate, providing their minimum balance is 1000 DGTX on July 31.
Q: Do I need to be logged in and trading on July 31 to be eligible to participate in the giveaway?
A: Yes, you’ll need to be actively logged into your mainnet account on July 31 at the time of each giveaway to participate. Winners will be chosen from those who are online throughout the whole six hours of the event. So if you want to be eligible to participate in every single giveaway, you’ll need to be online for the entire six hours.
Q: Does my token balance need to be 1000 DGTX or above on July 31, or is it enough if I’ve deposited 1000 tokens in the past, and traded them or later withdrawn them?
A: Only those with a token balance of 1000 DGTX or larger will be eligible to participate.
Q: How will you randomly select winners?
A: We will use a random number generator to choose winners from eligible traders who are logged in and have a token balance of at least 1000 DGTX.
Q: How will the merchandise giveaways work?
A: Merchandise giveaways will also be allocated using a random number generator. If you’re a winner, we’ll email you at the address linked to your DFE user account with a link to a form so you can tell us your size and shipping address.
Q: Will more influencers be joining on the day?
A: Yes, we will soon be announcing more big names who will be joining us on the day. The full lineup will also include pro and expert traders, as well as influencers.
Q: Will there be any more new features added to mainnet before the public launch?
A: The API will also be added to mainnet before the public launch. We’ve also recently introduced conditional orders, and increased leverage from 10x to 25x.
Q: How will raffle winners receive their DGTX?
A: Prizes will be deposited into users’ DFE mainnet wallets.
Q: If I’m a winner, can I withdraw my DGTX prizes right away?
A: The same rules will apply to the July 31 giveaway DGTX as to the waitlist winner airdrops. Winners will need to trade 10,000 contracts using their prize DGTX before they can withdraw them.
Waitlist 3 Winners – How to Claim Your Prizes
We’re pleased to confirm that we’ve now distributed the DGTX airdrops to all of the winners of the first and second waitlist contests who claimed their prizes.
If you’re a winner of the third waitlist contest, then you still have time until July 30 at midday UTC to claim your prize. Simply complete this form, and once we’ve matched your email address, we’ll deposit your airdrop into your DFE mainnet account.
Still Have Questions?
If you still have any questions about the Launch Day Trading Event, then drop them into the Telegram chat, and one of our support managers will pick them up. We’ll keep updating this post with any new answers and share the link via Telegram each time it’s updated.
Finally, make sure you’re sharing news of our Launch Day Trading Event far and wide, with your friends, family, colleagues – everyone! Every new trader helps to make the DFE into a bigger and better paradise for short-term traders, and we don’t want anyone to miss out!