Digitex Update: DGTX Mint Jan 2022 1

Digitex Update: DGTX Mint Jan 2022

Digitex
• Adam Todd
January 5, 2022

As stated in the first sentence of the Digitex whitepaper written in December 2017:

Presenting a commission-free futures exchange that covers operational costs by minting its own native currency, the DGTX token, instead of charging transaction fees on trades.

 

The first DGTX mint occurred on January 15th, 2018 when one billion DGTX were created. These tokens were sold over the course of the next 3 years and the revenue generated from these DGTX sales allowed us to build a team and then develop and launch our signature zero-fee futures exchange.

 

Then in December 2020 and in March 2021 we minted a total of 590 million DGTX tokens. This increased the total token supply by 59% from 1,000,000,000 to 1,590,000,000 DGTX. This allowed us to continue developing and operating the Digitex exchange throughout 2021 up until the present day.

 

Once again, as expected, it is time for Digitex to mint DGTX tokens for the purpose of covering the development and operational costs of running the exchange, as well as for adding liquidity to our DGTX denominated futures markets. 

 

But rather than doing a one-time mint of a large number of tokens, instead we will be minting smaller amounts of DGTX on a more regular basis throughout 2022 as and when needed. For the purpose of transparency, all DGTX minting events will be published here on the Digitex blog.

 

On January 6th 2022 we will mint 60 million DGTX. This is a 3.8% increase in the total token supply which will take the total supply from 1,590,000,000 to 1,650,000,000 DGTX. 

 

Thank you for your continued support of Digitex. We continue to work on plans to significantly increase liquidity on our spot markets, get the exchange listed on cmc, list new tokens and execute on a rebranding and marketing campaign that will surprise everyone. 

 

January 5, 2022
Digitex

Digitex Update: DGTX Mint Jan 2022

Adam Todd
Digitex Update: DGTX Mint Jan 2022 2

As stated in the first sentence of the Digitex whitepaper written in December 2017:

Presenting a commission-free futures exchange that covers operational costs by minting its own native currency, the DGTX token, instead of charging transaction fees on trades.

 

The first DGTX mint occurred on January 15th, 2018 when one billion DGTX were created. These tokens were sold over the course of the next 3 years and the revenue generated from these DGTX sales allowed us to build a team and then develop and launch our signature zero-fee futures exchange.

 

Then in December 2020 and in March 2021 we minted a total of 590 million DGTX tokens. This increased the total token supply by 59% from 1,000,000,000 to 1,590,000,000 DGTX. This allowed us to continue developing and operating the Digitex exchange throughout 2021 up until the present day.

 

Once again, as expected, it is time for Digitex to mint DGTX tokens for the purpose of covering the development and operational costs of running the exchange, as well as for adding liquidity to our DGTX denominated futures markets. 

 

But rather than doing a one-time mint of a large number of tokens, instead we will be minting smaller amounts of DGTX on a more regular basis throughout 2022 as and when needed. For the purpose of transparency, all DGTX minting events will be published here on the Digitex blog.

 

On January 6th 2022 we will mint 60 million DGTX. This is a 3.8% increase in the total token supply which will take the total supply from 1,590,000,000 to 1,650,000,000 DGTX. 

 

Thank you for your continued support of Digitex. We continue to work on plans to significantly increase liquidity on our spot markets, get the exchange listed on cmc, list new tokens and execute on a rebranding and marketing campaign that will surprise everyone. 

 

Latest News

Digitex dev update #12 3

Digitex dev update #12

Digitex
• Aleksei Veledinskii
November 12, 2021

The Biggest Candle In DGTX History

Sorry for the long wait! Let’s dive right in…

First up, a big thank you from the Digitex Exchange team! We appreciate your patience and actions this week as community members, holders and traders.

This week saw DGTX’s highest relative price growth: DGTX/BTC jumped 289% on Kucoin within just 24 hours. And given the market conditions and our internal business progress, we are ready to share some new details about our future plans and current state of affairs. So let’s roll!

Current State

We’re glad to report that a lot of great feedback was collected from our REST API testers during the closed test of the Digitex Trading API. All features have been uploaded to the Mainnet.

A few points mentioned by testers have not yet been implemented, but no worries! The API will be part of the Digitex Exchange and we have big plans to make additional upgrades soon. Here you can find all documentation for REST API, WebSocket API and Python Client.

Development And Growth Plans

Listing Campaign

We are preparing a massive listing campaign. The goal is to list as many new coins and open as many new spot markets as possible. If you or your friends have a project that you want to list on the Digitex Exchange, please fill in the form on the Coin Listing page and we’ll help make it happen! Please note, this page is under construction and some text and data may now be outdated.

One of the main parts of our Listing offer will be Marketing Package from Blockdesk. Our Blockster team has had great success with building an in-house media called Blockdesk. They have 500,000+ monthly visitors, 4,000+ average views of articles, a huge mailing list with 450,000+ addresses and an open rate of close to 20,000, along with a team of professional writers from Hackernoon, Bloomberg, Coin Telegraph and others.

Coins listed on Digitex will get a free Marketing Package with 2 emails, 1 interview and 1 press release on Blockdesk, 2 posts across social media with exposure to an audience of approximately 410,000 followers. We expect a synergistic effect from this listing campaign. On the one hand, it will attract new coins and users to the Digitex Exchange, and on the other it will increase coin awareness.

By the way, new Blockfarm pools may arrive soon… according to the Listing campaign success. So keep your DGTX close! 😉

Fees Reduction System

When Digitex Exchange grows and new Spot Markets are added, our developers will focus their powers on the Fees Reduction System. We know how important it is to attract the right people, not only to speculate on DGTX, but to also use it on the Digitex Exchange.

We expect that the Fees Reduction System in combination with a host of new spot markets will create a circulation between users and Digitex Exchange. Coin owners will also be able to offer their communities zero fees when trading on Digitex and with DGTX (as an alternative to DeX). ETA — Q1, 2022.

DUSD

When the Fees Reduction System is ready and operational, our team will begin developing DUSD — a native Digitex stablecoin, backed by the DGTX token.

We’d love to release DUSD tomorrow, but with the current DGTX price being relatively low, creating DUSD contracts would likely remove too many DGTX tokens from circulation. Therefore, we aim to deliver DUSD in Q2, 2022.

Liquidity

Yes, one of the weak points right now in Digitex’s spot markets is low liquidity, but we are on track to solve it. WOO Network has offered to provide some very attractive features which will be used as soon as possible (estimated in Q1, 2022).

Pavel Yushchenko, our CTO has checked all the technical requirements of WOO Network’s integration. Many changes will need to be applied: Matching Engine updates and establishing a subsystem for trades to proceed with third-party liquidity pools. We want to see liquid order books filling markets on Digitex as soon as possible, but most importantly, we want to see that orders are indeed being executed.

We can’t tell you when exactly a new blog will arrive, but we will keep you posted with updates of new markets listed on the Digitex Exchange.

Stay tuned – the game is only just beginning!

Bye!

 

November 12, 2021
Digitex

Digitex dev update #12

Aleksei Veledinskii
Digitex dev update #12 4

The Biggest Candle In DGTX History

Sorry for the long wait! Let’s dive right in…

First up, a big thank you from the Digitex Exchange team! We appreciate your patience and actions this week as community members, holders and traders.

This week saw DGTX’s highest relative price growth: DGTX/BTC jumped 289% on Kucoin within just 24 hours. And given the market conditions and our internal business progress, we are ready to share some new details about our future plans and current state of affairs. So let’s roll!

Current State

We’re glad to report that a lot of great feedback was collected from our REST API testers during the closed test of the Digitex Trading API. All features have been uploaded to the Mainnet.

A few points mentioned by testers have not yet been implemented, but no worries! The API will be part of the Digitex Exchange and we have big plans to make additional upgrades soon. Here you can find all documentation for REST API, WebSocket API and Python Client.

Development And Growth Plans

Listing Campaign

We are preparing a massive listing campaign. The goal is to list as many new coins and open as many new spot markets as possible. If you or your friends have a project that you want to list on the Digitex Exchange, please fill in the form on the Coin Listing page and we’ll help make it happen! Please note, this page is under construction and some text and data may now be outdated.

One of the main parts of our Listing offer will be Marketing Package from Blockdesk. Our Blockster team has had great success with building an in-house media called Blockdesk. They have 500,000+ monthly visitors, 4,000+ average views of articles, a huge mailing list with 450,000+ addresses and an open rate of close to 20,000, along with a team of professional writers from Hackernoon, Bloomberg, Coin Telegraph and others.

Coins listed on Digitex will get a free Marketing Package with 2 emails, 1 interview and 1 press release on Blockdesk, 2 posts across social media with exposure to an audience of approximately 410,000 followers. We expect a synergistic effect from this listing campaign. On the one hand, it will attract new coins and users to the Digitex Exchange, and on the other it will increase coin awareness.

By the way, new Blockfarm pools may arrive soon… according to the Listing campaign success. So keep your DGTX close! 😉

Fees Reduction System

When Digitex Exchange grows and new Spot Markets are added, our developers will focus their powers on the Fees Reduction System. We know how important it is to attract the right people, not only to speculate on DGTX, but to also use it on the Digitex Exchange.

We expect that the Fees Reduction System in combination with a host of new spot markets will create a circulation between users and Digitex Exchange. Coin owners will also be able to offer their communities zero fees when trading on Digitex and with DGTX (as an alternative to DeX). ETA — Q1, 2022.

DUSD

When the Fees Reduction System is ready and operational, our team will begin developing DUSD — a native Digitex stablecoin, backed by the DGTX token.

We’d love to release DUSD tomorrow, but with the current DGTX price being relatively low, creating DUSD contracts would likely remove too many DGTX tokens from circulation. Therefore, we aim to deliver DUSD in Q2, 2022.

Liquidity

Yes, one of the weak points right now in Digitex’s spot markets is low liquidity, but we are on track to solve it. WOO Network has offered to provide some very attractive features which will be used as soon as possible (estimated in Q1, 2022).

Pavel Yushchenko, our CTO has checked all the technical requirements of WOO Network’s integration. Many changes will need to be applied: Matching Engine updates and establishing a subsystem for trades to proceed with third-party liquidity pools. We want to see liquid order books filling markets on Digitex as soon as possible, but most importantly, we want to see that orders are indeed being executed.

We can’t tell you when exactly a new blog will arrive, but we will keep you posted with updates of new markets listed on the Digitex Exchange.

Stay tuned – the game is only just beginning!

Bye!

 

Latest News

Digitex dev update #11: WebSocket API description release, Python client for REST Trading API & DUSD comeback 5

Digitex dev update #11: WebSocket API description release, Python client for REST Trading API & DUSD comeback

Digitex
• Aleksei Veledinskii
October 2, 2021

In today’s dev update, we’ll share several small but good news – and one bigger one, much anticipated by our community. 

But that’s enough suspense for now. Read on to learn more!  

WebSocket Trading API description: released 

Firstly, we’ve published the WebSocket Trading API description, which is now available for all our traders! Feel free to check it out and create lightning-fast trading bots linked to the Digitex Mainnet. WebSocket API supports up to 1000 requests per second!

What’s more, our Web UI uses the same WebSocket API, which means you can use all the benefits of the Live Ladder to seriously boost the speed of your manual trading.

We truly appreciate your patience with this update. But we’re also aware there’s always room for growth – and open to your comments and suggestions! Should you find any ambiguity in the WebSocket API description, please let us know.

Python client for Digitex REST Trading API

Second, we are ready to present to you the refactored Digitex Python client! Now it supports the new Trading REST API – but, for the moment, only on the Testnet. To set up the client, please follow this link.

We’ve developed this feature to make trading easier and more efficient for you, guys – and, as always, we are looking forward to your feedback! 

DUSD is back (and revised!)

And third – here’s the ‘bigger news’ we mentioned in the intro. For months, we’ve been collecting and sorting through your feedback, and learned that many of you were looking forward to the return of DUSD, the stablecoin backed by DGTX. It was a part of a huge update back in Dec 2020, but then we ran into some bumps and decided it needed more work.

To cut a long story short, we’re bringing DUSD back! It perfectly fits our plans to switch to a new business model and create a system of ‘continuous circulation’ of DGTX tokens among the Exchange and Traders. 

We know many believe that ‘decentralized is the best’ – but we can’t yet say for sure if DUSD will be decentralized or owned by Digitex. The thing is, solutions like sUSD may work perfectly for Synthetix infrastructure, but with limitations for a classic crypto exchange. So we see many ‘pros’ and ‘cons’ for both variants, and we’ll need to carefully scrutinize them first. 

So, here’s our next steps: what are we going to do with DUSD?

  1. Revising the math model behind contracts and the liquidation system;
  2. Revising the numbers.
  3. Making key decisions such as:
    1. Picking a centralized or decentralized model;
    2. Choosing if DUSD will be exclusive to Digitex Exchange;
    3. Selecting the right blockchain;
  4. Refactoring the legacy code from 2020.

With luck, we’ll go through all these within 2-3 months – which means DUSD might be back shortly before or after Christmas. Ah, Christmas.

Thanks again for your continuous interest and support! Want to help us improve Digitex further and choose the features we’ll implement next? Easy! Just fill out this form.

Bye for now! See you next week, when we are back with Dev update #12.

October 2, 2021
Digitex

Digitex dev update #11: WebSocket API description release, Python client for REST Trading API & DUSD comeback

Aleksei Veledinskii
Digitex dev update #11: WebSocket API description release, Python client for REST Trading API & DUSD comeback 6

In today’s dev update, we’ll share several small but good news – and one bigger one, much anticipated by our community. 

But that’s enough suspense for now. Read on to learn more!  

WebSocket Trading API description: released 

Firstly, we’ve published the WebSocket Trading API description, which is now available for all our traders! Feel free to check it out and create lightning-fast trading bots linked to the Digitex Mainnet. WebSocket API supports up to 1000 requests per second!

What’s more, our Web UI uses the same WebSocket API, which means you can use all the benefits of the Live Ladder to seriously boost the speed of your manual trading.

We truly appreciate your patience with this update. But we’re also aware there’s always room for growth – and open to your comments and suggestions! Should you find any ambiguity in the WebSocket API description, please let us know.

Python client for Digitex REST Trading API

Second, we are ready to present to you the refactored Digitex Python client! Now it supports the new Trading REST API – but, for the moment, only on the Testnet. To set up the client, please follow this link.

We’ve developed this feature to make trading easier and more efficient for you, guys – and, as always, we are looking forward to your feedback! 

DUSD is back (and revised!)

And third – here’s the ‘bigger news’ we mentioned in the intro. For months, we’ve been collecting and sorting through your feedback, and learned that many of you were looking forward to the return of DUSD, the stablecoin backed by DGTX. It was a part of a huge update back in Dec 2020, but then we ran into some bumps and decided it needed more work.

To cut a long story short, we’re bringing DUSD back! It perfectly fits our plans to switch to a new business model and create a system of ‘continuous circulation’ of DGTX tokens among the Exchange and Traders. 

We know many believe that ‘decentralized is the best’ – but we can’t yet say for sure if DUSD will be decentralized or owned by Digitex. The thing is, solutions like sUSD may work perfectly for Synthetix infrastructure, but with limitations for a classic crypto exchange. So we see many ‘pros’ and ‘cons’ for both variants, and we’ll need to carefully scrutinize them first. 

So, here’s our next steps: what are we going to do with DUSD?

  1. Revising the math model behind contracts and the liquidation system;
  2. Revising the numbers.
  3. Making key decisions such as:
    1. Picking a centralized or decentralized model;
    2. Choosing if DUSD will be exclusive to Digitex Exchange;
    3. Selecting the right blockchain;
  4. Refactoring the legacy code from 2020.

With luck, we’ll go through all these within 2-3 months – which means DUSD might be back shortly before or after Christmas. Ah, Christmas.

Thanks again for your continuous interest and support! Want to help us improve Digitex further and choose the features we’ll implement next? Easy! Just fill out this form.

Bye for now! See you next week, when we are back with Dev update #12.

Latest News

Digitex dev update #10: Trading REST API Release, Fee System Launch & Matching Engine Upgrade 7

Digitex dev update #10: Trading REST API Release, Fee System Launch & Matching Engine Upgrade

Digitex
• Aleksei Veledinskii
September 24, 2021

It’s been a hard week’s Friday, but we’re glad to tell you that we’ve achieved almost everything we had planned. 

In short, our team has started the Matching Engine update, which boosted the system performance and allowed it to do complex computations (like very accurate trading fee calculation), added new USDC-nominated Futures Markets, and released the Trading REST API on Testnet. 

Now let’s go dive into some details. Poyekhali!

Matching Engine Upgrade & Trading Fees

One of the most difficult computations on an exchange is calculating trading fees: these numbers are so tiny and require great precision, but the system’s engine still has to operate at lightning speed. 

Well, today (Friday 24th, at 12:00 UTC) we started the Digitex Matching Engine update on our Mainnet! The new version will support much more complicated mathematical operations, including those on very precise numbers – think cryptos with 18 digits after the decimal point. But that’s not all the good news: we’ve also refactored some weak spots in the source code to boost its stability.

The update finally enabled us to launch the Trading Fee System, one of the key features on the path of improving the Digitex Exchange. Here’s just a small reminder on how it will work: the taker fee is set to 0.05%, the maker fee to 0.01%; both apply to non-DGTX Spot and Futures markets. 

Presenting: New Futures Markets

Talking about Futures: new USDС-nominated Futures Markets are open for trading! They will mirror our DGTX-nominated markets, offering BTC and ETH perpetual futures. We’ve made sure there’s quite enough liquidity there for the first time. 

Next, the new markets will have a baptism by the Mainnet: yes, the Testnet provided us with plenty of data for coding and testing purposes, but nothing can substitute the real use cases.

Trading REST API Release and Testing

Here’s another milestone to celebrate: we’ve released the Trading REST API and started the testing process. Thanks to all you guys for your wonderful support, and the greatest kudos go to our testers! 

In total, we got 30 applications from traders who wished to test the new API. We’ve created an invite-only chat in Telegram, where our lead python developer can answer questions and collect feedback in real-time. 

We also plan to release the Python REST API client this week. Most likely, this will happen on Saturday – we’ll make sure to keep you informed!

NB: Applied, but never received your letter with the link to API documentation and chat? Check the Spam folder; maybe it was dropped there by your too-diligent email provider.

Hummingbot Connector Release: Delayed

Unfortunately, we’ve decided to delay the release of the Hummingbot connector for our Spot Markets. We need to do a bit more testing there; stay tuned for the updates and we’ll be back with more information ASAP.

Bye for now! See you in a week, when we are back with Dev update #11.

 

September 24, 2021
Digitex

Digitex dev update #10: Trading REST API Release, Fee System Launch & Matching Engine Upgrade

Aleksei Veledinskii
Digitex dev update #10: Trading REST API Release, Fee System Launch & Matching Engine Upgrade 8

It’s been a hard week’s Friday, but we’re glad to tell you that we’ve achieved almost everything we had planned. 

In short, our team has started the Matching Engine update, which boosted the system performance and allowed it to do complex computations (like very accurate trading fee calculation), added new USDC-nominated Futures Markets, and released the Trading REST API on Testnet. 

Now let’s go dive into some details. Poyekhali!

Matching Engine Upgrade & Trading Fees

One of the most difficult computations on an exchange is calculating trading fees: these numbers are so tiny and require great precision, but the system’s engine still has to operate at lightning speed. 

Well, today (Friday 24th, at 12:00 UTC) we started the Digitex Matching Engine update on our Mainnet! The new version will support much more complicated mathematical operations, including those on very precise numbers – think cryptos with 18 digits after the decimal point. But that’s not all the good news: we’ve also refactored some weak spots in the source code to boost its stability.

The update finally enabled us to launch the Trading Fee System, one of the key features on the path of improving the Digitex Exchange. Here’s just a small reminder on how it will work: the taker fee is set to 0.05%, the maker fee to 0.01%; both apply to non-DGTX Spot and Futures markets. 

Presenting: New Futures Markets

Talking about Futures: new USDС-nominated Futures Markets are open for trading! They will mirror our DGTX-nominated markets, offering BTC and ETH perpetual futures. We’ve made sure there’s quite enough liquidity there for the first time. 

Next, the new markets will have a baptism by the Mainnet: yes, the Testnet provided us with plenty of data for coding and testing purposes, but nothing can substitute the real use cases.

Trading REST API Release and Testing

Here’s another milestone to celebrate: we’ve released the Trading REST API and started the testing process. Thanks to all you guys for your wonderful support, and the greatest kudos go to our testers! 

In total, we got 30 applications from traders who wished to test the new API. We’ve created an invite-only chat in Telegram, where our lead python developer can answer questions and collect feedback in real-time. 

We also plan to release the Python REST API client this week. Most likely, this will happen on Saturday – we’ll make sure to keep you informed!

NB: Applied, but never received your letter with the link to API documentation and chat? Check the Spam folder; maybe it was dropped there by your too-diligent email provider.

Hummingbot Connector Release: Delayed

Unfortunately, we’ve decided to delay the release of the Hummingbot connector for our Spot Markets. We need to do a bit more testing there; stay tuned for the updates and we’ll be back with more information ASAP.

Bye for now! See you in a week, when we are back with Dev update #11.

 

Latest News

Digitex dev update #9: New Spot Markets, Trading Fees & Trading REST API Testing 9

Digitex dev update #9: New Spot Markets, Trading Fees & Trading REST API Testing

Digitex
• Aleksei Veledinskii
September 17, 2021

Next week is going to be action-packed! We’ll be releasing some long-awaited updates for Digitex Exchange and starting to prepare the Exchange for list new trading pairs in our Spot Markets. Due to the nature of the process, this is going to take some time – and, as usual, we cannot give you an ETA.

But worry not, fellow trader: we will get there soon, and the ride will be smooth. For now, let’s have a good look at where we are with all upcoming updates.

Trading Fees on the Mainnet

We will be introducing trading fees at the same time with Stablecoin Futures Markets on the Mainnet. Those will be charged in 1) Futures Markets nominated in USDC, and 2) non-DGTX Spot Markets (BTC/USDC, ETH/BTC, etc). Even so, trading in DGTX-denominated Futures Markets and Spot Markets will remain as it is, at zero fees.

The taker fee is currently set at 0.05%, the maker fee – at 0.01%. However, in the next few weeks, we will be testing the new system and making final decisions on how it would work. What that means is that we still may adjust fee values, or add them to all Spot Markets; in any case, we’ll keep in touch and inform you of any changes in advance. One thing’s for sure: we’ll keep DGTX-nominated Future trading at zero fees.

Our next step will be developing and delivering a fee reduction system with 2 options: staking DGTX to enable zero-fee trading or paying reduced fees in DGTX. There is no ETA, but we aim to deploy the first version of the system on our Testnet in late October.

Internal Testing of the Trading REST API: Done

We’re glad to report that the development and internal testing of the Trading REST API have been completed! Starting Monday or Tuesday, the REST API specification and documentation will be available to those who filled our Form for API Testing

Upon that, we’ll release the Python client library for the Digitex Trading REST API to the test group: it will also happen next week, probably on Thursday. And finally, by the end of the week, we will publish the full description of the Trading WebSocket API and Python client library for Digitex Trading Websocket API.

Wish to take part in our testing but missed the previous update? You still have time to fill the Testers form!

Converter Update

An update bringing the Fixed price for those who buy DGTX via the Converter will be live on the Mainnet next week. The buy-back and hedging system are still under development and will be released as soon as possible.

New Spot Markets for Rare Coins

So what about New Spot Markets? We’ll be listing smaller coins, which are not available on the majority of exchanges. This will help us attract new trade flows, grow our community, and redirect a part of our income to boost liquidity for more in-demand coins.

The plan is to add new Spot Markets every month, but for now, we can’t say exactly when the first pairs will be available. Anyway, we would like to ask you to fill the Spot Markets Form and tell us which coins you are most interested in trading on Digitex Exchange.


When the new API is well tested and described, Python clients are successfully released (JS, C# and Go clients will follow in the upcoming months), and the Hummingbot connector is launched, we will add more markets, new traders will join the platform – and daily traded volume on the Digitex Exchange will increase, along with the liquidity. 

By the way, the Testnet release of the Hummingbot connector for the Spot Markets is also planned for the next week. Action-packed, like we said.

P.S. The Liquidity Mining Rewards system is closed until further updates.

Bye for now! See you in a week, when we are back with Dev update #10.

September 17, 2021
Digitex

Digitex dev update #9: New Spot Markets, Trading Fees & Trading REST API Testing

Aleksei Veledinskii
Digitex dev update #9: New Spot Markets, Trading Fees & Trading REST API Testing 10

Next week is going to be action-packed! We’ll be releasing some long-awaited updates for Digitex Exchange and starting to prepare the Exchange for list new trading pairs in our Spot Markets. Due to the nature of the process, this is going to take some time – and, as usual, we cannot give you an ETA.

But worry not, fellow trader: we will get there soon, and the ride will be smooth. For now, let’s have a good look at where we are with all upcoming updates.

Trading Fees on the Mainnet

We will be introducing trading fees at the same time with Stablecoin Futures Markets on the Mainnet. Those will be charged in 1) Futures Markets nominated in USDC, and 2) non-DGTX Spot Markets (BTC/USDC, ETH/BTC, etc). Even so, trading in DGTX-denominated Futures Markets and Spot Markets will remain as it is, at zero fees.

The taker fee is currently set at 0.05%, the maker fee – at 0.01%. However, in the next few weeks, we will be testing the new system and making final decisions on how it would work. What that means is that we still may adjust fee values, or add them to all Spot Markets; in any case, we’ll keep in touch and inform you of any changes in advance. One thing’s for sure: we’ll keep DGTX-nominated Future trading at zero fees.

Our next step will be developing and delivering a fee reduction system with 2 options: staking DGTX to enable zero-fee trading or paying reduced fees in DGTX. There is no ETA, but we aim to deploy the first version of the system on our Testnet in late October.

Internal Testing of the Trading REST API: Done

We’re glad to report that the development and internal testing of the Trading REST API have been completed! Starting Monday or Tuesday, the REST API specification and documentation will be available to those who filled our Form for API Testing

Upon that, we’ll release the Python client library for the Digitex Trading REST API to the test group: it will also happen next week, probably on Thursday. And finally, by the end of the week, we will publish the full description of the Trading WebSocket API and Python client library for Digitex Trading Websocket API.

Wish to take part in our testing but missed the previous update? You still have time to fill the Testers form!

Converter Update

An update bringing the Fixed price for those who buy DGTX via the Converter will be live on the Mainnet next week. The buy-back and hedging system are still under development and will be released as soon as possible.

New Spot Markets for Rare Coins

So what about New Spot Markets? We’ll be listing smaller coins, which are not available on the majority of exchanges. This will help us attract new trade flows, grow our community, and redirect a part of our income to boost liquidity for more in-demand coins.

The plan is to add new Spot Markets every month, but for now, we can’t say exactly when the first pairs will be available. Anyway, we would like to ask you to fill the Spot Markets Form and tell us which coins you are most interested in trading on Digitex Exchange.


When the new API is well tested and described, Python clients are successfully released (JS, C# and Go clients will follow in the upcoming months), and the Hummingbot connector is launched, we will add more markets, new traders will join the platform – and daily traded volume on the Digitex Exchange will increase, along with the liquidity. 

By the way, the Testnet release of the Hummingbot connector for the Spot Markets is also planned for the next week. Action-packed, like we said.

P.S. The Liquidity Mining Rewards system is closed until further updates.

Bye for now! See you in a week, when we are back with Dev update #10.

Latest News

Digitex dev update #8: Trading REST API Progress, Search for Testers, and Converter Refactoring 11

Digitex dev update #8: Trading REST API Progress, Search for Testers, and Converter Refactoring

Digitex
• Aleksei Veledinskii
September 13, 2021

Due to some miscommunication, we didn’t release our regular Dev update last Friday, September 3rd, 2021. Sorry about that! We are still here, closing tasks, working on new features, and looking for ways to improve your Digitex experience. For one, we’re almost done with the first draft of our Improvements Plan: it will be published this September or early in October 2021.

In today’s update, we will shed some light on the upcoming trading API release and some changes to our Converter. Vamos!

Trading REST API Progress

First, we’ve completed 95% of the work needed to release a fully functional Trading REST API and introduce a brand new, more efficient way of trading on Digitex Exchange. Very soon, traders will be able to place orders, check their balances, interact with positions, contracts and delayed actions, and more.

Most of the new features (endpoints, classes, database changes, and so on) have already been deployed to the Testnet. However, we are not ready to publish the REST API documentation before the next week, we have to make sure we’ve completed proper QA and testing, as well as several minor tasks.

The documentation will be published next week, as we’ll also open access to endpoints on Testnet. And finally, when we complete the full testing, collect feedback from our community and apply all changes, we will bring the REST API to the Mainnet.

‘When developing the REST API, we learned from the best practices of other exchanges. In the end, we decided to go for simplicity and ease of making the first trade without sacrificing efficiency. Now we’re rolling out a Python client along with the REST API – and I personally love it. 

Having fewer endpoints, and using documented data models instead of JSON responses means you are ready to start trading right away – without the need to manage conversions. If you are an experienced developer, you may simply extend a data model and attach to it any logic. 

For the moment, this concept will work for the English version of our client. Should it be well accepted by the community, we’ll make it available for other languages as well’, – said Sergei Pavlyuk, Digitex Exchange senior backend developer.

A Few Words On Websocket 

Second, the description of the Websocket trading API, which we are using to interact with the backend from our web interface, is almost finished too. So far, it looks good and clear to our eye, but we want to make sure our users find it comprehensible as well before we release it.

Wanted: Testers!

Third, here’s what we’re getting at: Do you know your way around different APIs and exchanges? Want to make Digitex Exchange better? Then it might be you we’re looking for, so check out the Digitex API testers form to volunteer! During the next week or two, we will be collecting your emails, Telegram usernames (if you’re okay with it), and answers, and then we’ll reach out to you after September, 20.

We will have three different tasks for our community testers:

  1. Checking if the Trading REST API documentation is all clear;
  2. Testing the Trading REST API; 
  3. Going through the Trading WebSocket API documentation as well.

There will be two groups of traders – for REST and WebSocket APIs respectively. If you wish to do both, please let us know via the application form.

Converter, Refactored

And fourth, after receiving many questions regarding the Converter we’ve decided to refactor it. As you are reading this update, we are testing the refactored system for selling DGTX via a user-friendly interface on our dev server, expecting to deploy it to the Mainnet within the next few weeks.

The key new features we are bringing to the Converter are the Fixed price and the DGTX Buy-back system. We expect both of these to have a positive impact on DGTX price.

Fixed Price

For the moment, our Mainnet Converter uses real-time prices to sell the DGTX token for BTC, ETH, USDC, or USDT. Every time you open the Converter pop-up, it shows the approximate value of DGTX you would receive.

However, as we all know, crypto prices are very volatile. Since we are using real-time prices, we can’t guarantee that the user will receive the exact amount of DGTX he sees in the pop-up. Of course, hardly anyone would complain about getting more tokens, but if traders get less than what they expected – then it becomes a problem.

This is why we decided to add the Fixed price feature to the Converter. After the update, our users will be able to select the crypto they want to convert to the DGTX and click on the “Get rate” button to freeze the price. Upon that, they will see the amount of the DGTX which they would receive and will have 30 seconds to click the “Convert” button within 30 secs (this number is not final and may be changed) and get their DGTX by the fixed rate. 

Digitex dev update #8: Trading REST API Progress, Search for Testers, and Converter Refactoring 12

DGTX Buy-Back System

The second feature we’re adding to the Converter is the Buy-back system for the DGTX token. Here’s how it will work: we will be buying some % of DGTX sold in our Spot Markets. 

The system behavior will be focused on the effect and support price of the DGTX in the Digitex Exchange. 

Continue reading

September 13, 2021
Digitex

Digitex dev update #8: Trading REST API Progress, Search for Testers, and Converter Refactoring

Aleksei Veledinskii
Digitex dev update #8: Trading REST API Progress, Search for Testers, and Converter Refactoring 13

Due to some miscommunication, we didn’t release our regular Dev update last Friday, September 3rd, 2021. Sorry about that! We are still here, closing tasks, working on new features, and looking for ways to improve your Digitex experience. For one, we’re almost done with the first draft of our Improvements Plan: it will be published this September or early in October 2021.

In today’s update, we will shed some light on the upcoming trading API release and some changes to our Converter. Vamos!

Trading REST API Progress

First, we’ve completed 95% of the work needed to release a fully functional Trading REST API and introduce a brand new, more efficient way of trading on Digitex Exchange. Very soon, traders will be able to place orders, check their balances, interact with positions, contracts and delayed actions, and more.

Most of the new features (endpoints, classes, database changes, and so on) have already been deployed to the Testnet. However, we are not ready to publish the REST API documentation before the next week, we have to make sure we’ve completed proper QA and testing, as well as several minor tasks.

The documentation will be published next week, as we’ll also open access to endpoints on Testnet. And finally, when we complete the full testing, collect feedback from our community and apply all changes, we will bring the REST API to the Mainnet.

‘When developing the REST API, we learned from the best practices of other exchanges. In the end, we decided to go for simplicity and ease of making the first trade without sacrificing efficiency. Now we’re rolling out a Python client along with the REST API – and I personally love it. 

Having fewer endpoints, and using documented data models instead of JSON responses means you are ready to start trading right away – without the need to manage conversions. If you are an experienced developer, you may simply extend a data model and attach to it any logic. 

For the moment, this concept will work for the English version of our client. Should it be well accepted by the community, we’ll make it available for other languages as well’, – said Sergei Pavlyuk, Digitex Exchange senior backend developer.

A Few Words On Websocket 

Second, the description of the Websocket trading API, which we are using to interact with the backend from our web interface, is almost finished too. So far, it looks good and clear to our eye, but we want to make sure our users find it comprehensible as well before we release it.

Wanted: Testers!

Third, here’s what we’re getting at: Do you know your way around different APIs and exchanges? Want to make Digitex Exchange better? Then it might be you we’re looking for, so check out the Digitex API testers form to volunteer! During the next week or two, we will be collecting your emails, Telegram usernames (if you’re okay with it), and answers, and then we’ll reach out to you after September, 20.

We will have three different tasks for our community testers:

  1. Checking if the Trading REST API documentation is all clear;
  2. Testing the Trading REST API; 
  3. Going through the Trading WebSocket API documentation as well.

There will be two groups of traders – for REST and WebSocket APIs respectively. If you wish to do both, please let us know via the application form.

Converter, Refactored

And fourth, after receiving many questions regarding the Converter we’ve decided to refactor it. As you are reading this update, we are testing the refactored system for selling DGTX via a user-friendly interface on our dev server, expecting to deploy it to the Mainnet within the next few weeks.

The key new features we are bringing to the Converter are the Fixed price and the DGTX Buy-back system. We expect both of these to have a positive impact on DGTX price.

Fixed Price

For the moment, our Mainnet Converter uses real-time prices to sell the DGTX token for BTC, ETH, USDC, or USDT. Every time you open the Converter pop-up, it shows the approximate value of DGTX you would receive.

However, as we all know, crypto prices are very volatile. Since we are using real-time prices, we can’t guarantee that the user will receive the exact amount of DGTX he sees in the pop-up. Of course, hardly anyone would complain about getting more tokens, but if traders get less than what they expected – then it becomes a problem.

This is why we decided to add the Fixed price feature to the Converter. After the update, our users will be able to select the crypto they want to convert to the DGTX and click on the “Get rate” button to freeze the price. Upon that, they will see the amount of the DGTX which they would receive and will have 30 seconds to click the “Convert” button within 30 secs (this number is not final and may be changed) and get their DGTX by the fixed rate. 

Digitex dev update #8: Trading REST API Progress, Search for Testers, and Converter Refactoring 14

DGTX Buy-Back System

The second feature we’re adding to the Converter is the Buy-back system for the DGTX token. Here’s how it will work: we will be buying some % of DGTX sold in our Spot Markets. 

The system behavior will be focused on the effect and support price of the DGTX in the Digitex Exchange. 

Continue reading

Latest News

Digitex dev update #7: Trading fees and USDC futures 15

Digitex dev update #7: Trading fees and USDC futures

Digitex
• Aleksei Veledinskii
August 27, 2021

Hey everyone! Hope you are doing well.

We’ve got some really good news this week. The update of our Testnet with USDC denominated futures markets has been successful, as well as the ‘trading fees’ model for non-DGTX markets.

We know that you guys have been demanding this for quite some time, so we’re excited to provide the users’ feedback and detail how the fee mechanism will work out.

Community feedback – what we got right and wrong

First, we want to say: thank you for your support. We appreciate your effort to improve Digitex by providing important feedback and sharing your ideas. Our product and development teams could not ask for anything more!

Below are the main issues and suggestions that the community has raised:

  1. The overall idea of having USDC denominated futures markets and fees on non-DGTX markets looks appealing;
  2. Requests for a decentralized stablecoin, or at least not dependant on a third-party company, like USDT and USDC;
  3. Users want us to implement DGTX token burn strategies and maximize its usefulness for trading;
  4. The Ladder improvements suggestions. 
  5. Traders want ‘Bracket orders’ and improved ‘Stop Loss / Take Profit’ model;
  6. Some users have asked how existing Converter feature works now and what we are going to do with it.

So, let’s run over all these points.

Issues using DUSD

We understand that our community really likes the DUSD, and ran several tests, including mathematical models. However,  we found out that DUSD will not eliminate the volatility issue currently faced by DGTX pairs.

To trade with DUSD, one needs to lock some amount of DGTX in a special tool first. If DGTX price goes down, such a trader will need to place more DGTX for collateral, or his DGTX/DUSD contract will be liquidated.

What if a DGTX price drop happens while the whole crypto market loses value? In this case, traders will be in the same situation as if they traded with DGTX. Nominal profits in DGTX / DUSD will look good, but not in USD.

Issues using sUSD

With sUSD, one can lock different Synthetix assets to keep sUSD price stable, creating an arbitrage possibility. Thus, the system looks more interesting, but still carries the same risk if the whole crypto market falls.

Besides, the ability to lock different assets works well on the Synthetix blockchain, but not for Digitex since we want to collect liquidity and redirect it to DGTX price.

We understand that the pair USDC / USDT may vary, and that is not something the community can control, so not the best option. Consequently, we will keep looking for derivative tools until we find a better solution.

Fees reduction system

According to poll results, traders don’t like the ‘subscription’ idea. Meanwhile, the “stake DGTX for zero fees” option won big time, and here’s why that might be:

  1. creates demand on DGTX;
  2. can be split into tiers;
  3. doesn’t force traders to give away DGTX for zero fees. 

However, the “Pay fees in DGTX” option was also highly appraised. So, we decided to establish both options. 

We still don’t have the exact pricing model at this stage, but we know that “stake DGTX for zero fees” will be split into different tiers according to the trader’s traded volume for the last several days.

Anyway, we will keep listening to our community and seeking a fair system that generates income for DGTX holders. The best outcome is a win-win for both our users and for Digitex to support its growth.

Burning part of collected DGTX income

We understand that a burn mechanism can fuel DGTX price, but we want it to be more than just a share of Digitex’s profits. We are currently analyzing how to implement a transparent model that will add value to the community. 

The Ladder UI improvements

Traders want to use the Drag and Drop feature to replace orders directly from the ‘Ladder’, besides the ability to customize the info which appears there. We will be asking for further details in the months to come, as there are other priorities right now.

‘Bracket orders’ and ‘Stop Loss’ / ‘Take Profit

Basically, we will add ‘Bracket orders’, and some Brackets system for Open Contracts. In addition, we will check for opportunities to implement ‘Stop Loss’ / ‘Take Profit’ via the Ladder or the Chart and will also add a ‘Trailing Stop Loss’ feature.

We want to implement those in the Testnet by October, but the trading fees systems design and implementation need to be completed ahead of that. So, October is not a final ETA. 

Converter operating model

Unfortunately, we can’t disclose our ‘Converter’ operation model, but changes  should happen before the end of 2021. The converter will have a fixed price — similar to the flow which we used for the BXR Token Sale on Blockfunder. 

The Converter feature  will be changed from the system which allows buying DGTX by close to market price to the system which allows easily exchanging one crypto to another by using Digitex Spot Markets liquidity (with Limit of Market orders) without needing to go to Spot Markers and place orders manually.

Bye! See you next week with Dev update # 8.

August 27, 2021
Digitex

Digitex dev update #7: Trading fees and USDC futures

Aleksei Veledinskii
Digitex dev update #7: Trading fees and USDC futures 16

Hey everyone! Hope you are doing well.

We’ve got some really good news this week. The update of our Testnet with USDC denominated futures markets has been successful, as well as the ‘trading fees’ model for non-DGTX markets.

We know that you guys have been demanding this for quite some time, so we’re excited to provide the users’ feedback and detail how the fee mechanism will work out.

Community feedback – what we got right and wrong

First, we want to say: thank you for your support. We appreciate your effort to improve Digitex by providing important feedback and sharing your ideas. Our product and development teams could not ask for anything more!

Below are the main issues and suggestions that the community has raised:

  1. The overall idea of having USDC denominated futures markets and fees on non-DGTX markets looks appealing;
  2. Requests for a decentralized stablecoin, or at least not dependant on a third-party company, like USDT and USDC;
  3. Users want us to implement DGTX token burn strategies and maximize its usefulness for trading;
  4. The Ladder improvements suggestions. 
  5. Traders want ‘Bracket orders’ and improved ‘Stop Loss / Take Profit’ model;
  6. Some users have asked how existing Converter feature works now and what we are going to do with it.

So, let’s run over all these points.

Issues using DUSD

We understand that our community really likes the DUSD, and ran several tests, including mathematical models. However,  we found out that DUSD will not eliminate the volatility issue currently faced by DGTX pairs.

To trade with DUSD, one needs to lock some amount of DGTX in a special tool first. If DGTX price goes down, such a trader will need to place more DGTX for collateral, or his DGTX/DUSD contract will be liquidated.

What if a DGTX price drop happens while the whole crypto market loses value? In this case, traders will be in the same situation as if they traded with DGTX. Nominal profits in DGTX / DUSD will look good, but not in USD.

Issues using sUSD

With sUSD, one can lock different Synthetix assets to keep sUSD price stable, creating an arbitrage possibility. Thus, the system looks more interesting, but still carries the same risk if the whole crypto market falls.

Besides, the ability to lock different assets works well on the Synthetix blockchain, but not for Digitex since we want to collect liquidity and redirect it to DGTX price.

We understand that the pair USDC / USDT may vary, and that is not something the community can control, so not the best option. Consequently, we will keep looking for derivative tools until we find a better solution.

Fees reduction system

According to poll results, traders don’t like the ‘subscription’ idea. Meanwhile, the “stake DGTX for zero fees” option won big time, and here’s why that might be:

  1. creates demand on DGTX;
  2. can be split into tiers;
  3. doesn’t force traders to give away DGTX for zero fees. 

However, the “Pay fees in DGTX” option was also highly appraised. So, we decided to establish both options. 

We still don’t have the exact pricing model at this stage, but we know that “stake DGTX for zero fees” will be split into different tiers according to the trader’s traded volume for the last several days.

Anyway, we will keep listening to our community and seeking a fair system that generates income for DGTX holders. The best outcome is a win-win for both our users and for Digitex to support its growth.

Burning part of collected DGTX income

We understand that a burn mechanism can fuel DGTX price, but we want it to be more than just a share of Digitex’s profits. We are currently analyzing how to implement a transparent model that will add value to the community. 

The Ladder UI improvements

Traders want to use the Drag and Drop feature to replace orders directly from the ‘Ladder’, besides the ability to customize the info which appears there. We will be asking for further details in the months to come, as there are other priorities right now.

‘Bracket orders’ and ‘Stop Loss’ / ‘Take Profit

Basically, we will add ‘Bracket orders’, and some Brackets system for Open Contracts. In addition, we will check for opportunities to implement ‘Stop Loss’ / ‘Take Profit’ via the Ladder or the Chart and will also add a ‘Trailing Stop Loss’ feature.

We want to implement those in the Testnet by October, but the trading fees systems design and implementation need to be completed ahead of that. So, October is not a final ETA. 

Converter operating model

Unfortunately, we can’t disclose our ‘Converter’ operation model, but changes  should happen before the end of 2021. The converter will have a fixed price — similar to the flow which we used for the BXR Token Sale on Blockfunder. 

The Converter feature  will be changed from the system which allows buying DGTX by close to market price to the system which allows easily exchanging one crypto to another by using Digitex Spot Markets liquidity (with Limit of Market orders) without needing to go to Spot Markers and place orders manually.

Bye! See you next week with Dev update # 8.

Latest News

Digitex dev update #6: New Futures Markets on Testnet, Revised Tokenomics & Improvement Plans 17

Digitex dev update #6: New Futures Markets on Testnet, Revised Tokenomics & Improvement Plans

Digitex
• Aleksei Veledinskii
August 20, 2021

That’s a milestone: on August 19, 2021, we successfully updated our Testnet. In this dev update, we’ll explore new markets and features, share our improvement plans, and reveal the latest changes in Digitex tokenomics. Let’s go!

Stablecoin-denominated Futures Markets

Firstly, we’ve added two perpetual Futures Markets to the Testnet: BTC/USD and ETH/USD, both denominated in USDC. At the moment, you can’t navigate to these markets from our trading UI, but we’ll enable access soon – probably within 2 weeks. In the meantime, you can access new markets via the direct links above. 

The reason we decided to add stablecoin markets was that the DGTX price fluctuations posed a problem for traders. For one, sudden drops in rate could turn a successful trade into a money loss, creating a negative user experience. We’ve also assumed that stability provided by USDC may attract traders with medium capital, increasing liquidity and traded volume.

Revised Trading Fees

What about DGTX-denominated perpetual Futures Markets? They are still here, and you can trade with DGTX at no fees should you wish to. However, trading on USDC Futures Markets and non-DGTX Spot Markets will be subject to fees.

For now, we’ve set the Taker fee rate to 0.05% and the Maker fee rate to 0.01%. The fees are not currently reflected in your trading UI or trading history, but we plan to add this feature within 2 weeks, too. No worries: the fee system is in place, working like a clock. You can check your fees on the Testnet by calculating trading balances delta before and after trades.

Future Improvements & Planned Mainnet Launch

At the next stage, we will focus on stable coin futures markets and fee system testing, adding proper information about fees to the trading history and the trading UI, as well as applying changes to the exchange UI: we’ll need to make sure that both DGTX and USDC-denominated futures can be traded without making a mess or creating conflicts. 

We plan to release the new fee system and Stablecoin Futures to the Mainnet in September 2021 – but the exact date will depend on how testing progresses. After all, we want to make sure the new features fit seamlessly with the old ones.

Fee Reduction System

After that, we are going to introduce a new feature: the Fee Reduction System, which will allow you to reduce trading fees up to zero. For the moment, we are choosing from the following implementation options:

  1. Paid subscription – subscribed users will pay lower fees (up to zero fees), probably according to their traded volume and other stats;
  2. Paying reduced fees on any market in DGTX – we know that the same feature works well for some of our competitors; besides that, it will bring additional value to DGTX;
  3. DGTX staking – by staking their DGTX, users will be able to trade at no fees. This staking system will be different from the one used at Blockfarm: for example, there will be a lock period for stakers. 

All these options are perfectly valid; we will publish a poll in our social networks later on to see which one you prefer – however, the final decision will be on us.

Market Expansion And Other Plans

After releasing the above-mentioned features on our Mainnet, we plan to add more Spot Markets to our exchange: we know there are many coins our traders and investors are interested in. We will also expand the count of futures markets, denominated both in DGTX and USDC, and deliver some great derivatives tools: we’ll tell you more in the upcoming dev updates.

As usual, there is no predefined list of markets we are going to add this autumn. We’ll be considering such factors as coin demand, market activity, and trader interest. 

And lastly, by the start of 2022, we will introduce some social features. Right now we are prototyping those, checking hypotheses, and choosing which features will be delivered as MVP at the first release, and which ones may be released later.

New Business Model & Roadmap

To sum all the above, we are working on changing the Digitex Exchange business model and DGTX tokenomics. We are going to split Digitex income into two flows: one for DGTX token price, and one for direct profits. Some new services will be built around Digitex and DGTX, which will bring more liquidity and interest for traders, and ensure higher profits. 

We’ll disclose all the details in our new roadmap: there’s no exact ETA yet, but we hope to deliver it before the end of this year.

Hummingbot Connector News

We’ll close with a small update about Hummingbot: it’s already being tested on the Mainnet Spot Markets. So far, basic trading strategies, history, order placing & canceling all work fine. Our next step is Futures Markets adoption, followed by more tests.

Feels like we’re on the home stretch – and that’s an awesome feeling. 

Bye for now! See you next Friday, when we are back with Dev update # 7.

August 20, 2021
Digitex

Digitex dev update #6: New Futures Markets on Testnet, Revised Tokenomics & Improvement Plans

Aleksei Veledinskii
Digitex dev update #6: New Futures Markets on Testnet, Revised Tokenomics & Improvement Plans 18

That’s a milestone: on August 19, 2021, we successfully updated our Testnet. In this dev update, we’ll explore new markets and features, share our improvement plans, and reveal the latest changes in Digitex tokenomics. Let’s go!

Stablecoin-denominated Futures Markets

Firstly, we’ve added two perpetual Futures Markets to the Testnet: BTC/USD and ETH/USD, both denominated in USDC. At the moment, you can’t navigate to these markets from our trading UI, but we’ll enable access soon – probably within 2 weeks. In the meantime, you can access new markets via the direct links above. 

The reason we decided to add stablecoin markets was that the DGTX price fluctuations posed a problem for traders. For one, sudden drops in rate could turn a successful trade into a money loss, creating a negative user experience. We’ve also assumed that stability provided by USDC may attract traders with medium capital, increasing liquidity and traded volume.

Revised Trading Fees

What about DGTX-denominated perpetual Futures Markets? They are still here, and you can trade with DGTX at no fees should you wish to. However, trading on USDC Futures Markets and non-DGTX Spot Markets will be subject to fees.

For now, we’ve set the Taker fee rate to 0.05% and the Maker fee rate to 0.01%. The fees are not currently reflected in your trading UI or trading history, but we plan to add this feature within 2 weeks, too. No worries: the fee system is in place, working like a clock. You can check your fees on the Testnet by calculating trading balances delta before and after trades.

Future Improvements & Planned Mainnet Launch

At the next stage, we will focus on stable coin futures markets and fee system testing, adding proper information about fees to the trading history and the trading UI, as well as applying changes to the exchange UI: we’ll need to make sure that both DGTX and USDC-denominated futures can be traded without making a mess or creating conflicts. 

We plan to release the new fee system and Stablecoin Futures to the Mainnet in September 2021 – but the exact date will depend on how testing progresses. After all, we want to make sure the new features fit seamlessly with the old ones.

Fee Reduction System

After that, we are going to introduce a new feature: the Fee Reduction System, which will allow you to reduce trading fees up to zero. For the moment, we are choosing from the following implementation options:

  1. Paid subscription – subscribed users will pay lower fees (up to zero fees), probably according to their traded volume and other stats;
  2. Paying reduced fees on any market in DGTX – we know that the same feature works well for some of our competitors; besides that, it will bring additional value to DGTX;
  3. DGTX staking – by staking their DGTX, users will be able to trade at no fees. This staking system will be different from the one used at Blockfarm: for example, there will be a lock period for stakers. 

All these options are perfectly valid; we will publish a poll in our social networks later on to see which one you prefer – however, the final decision will be on us.

Market Expansion And Other Plans

After releasing the above-mentioned features on our Mainnet, we plan to add more Spot Markets to our exchange: we know there are many coins our traders and investors are interested in. We will also expand the count of futures markets, denominated both in DGTX and USDC, and deliver some great derivatives tools: we’ll tell you more in the upcoming dev updates.

As usual, there is no predefined list of markets we are going to add this autumn. We’ll be considering such factors as coin demand, market activity, and trader interest. 

And lastly, by the start of 2022, we will introduce some social features. Right now we are prototyping those, checking hypotheses, and choosing which features will be delivered as MVP at the first release, and which ones may be released later.

New Business Model & Roadmap

To sum all the above, we are working on changing the Digitex Exchange business model and DGTX tokenomics. We are going to split Digitex income into two flows: one for DGTX token price, and one for direct profits. Some new services will be built around Digitex and DGTX, which will bring more liquidity and interest for traders, and ensure higher profits. 

We’ll disclose all the details in our new roadmap: there’s no exact ETA yet, but we hope to deliver it before the end of this year.

Hummingbot Connector News

We’ll close with a small update about Hummingbot: it’s already being tested on the Mainnet Spot Markets. So far, basic trading strategies, history, order placing & canceling all work fine. Our next step is Futures Markets adoption, followed by more tests.

Feels like we’re on the home stretch – and that’s an awesome feeling. 

Bye for now! See you next Friday, when we are back with Dev update # 7.

Latest News

Digitex dev update #5: Hummingbot Connector, Testnet Update & FAQ on Liquidity Mining Rewards 19

Digitex dev update #5: Hummingbot Connector, Testnet Update & FAQ on Liquidity Mining Rewards

Digitex
• Digitex
August 13, 2021

This week went smoothly for Digitex, as we released Trading UI Switcher and refactored the Manual trade block. Here is a short overview of the upcoming features.

Meet Hummingbot

Our work on refactoring Trading API is progressing as planned, so now we are ready to introduce the Hummingbot connector for Digitex exchange. 

Hummingbot is an extremely popular open-source application that allows using Trading API by connecting directly to multiple exchanges. It enables trading via default strategies, modifying those strategies, or building your own. 

Soon – hopefully, within two weeks – Digitex will join the list of these exchanges. After going through with the release, we will ask Hummingbot for a code review of the Digitex connector. Should everything go smoothly, Hummingbot Connector will be included in the default Hummingbot bundle.

Liquidity Mining: The FAQ

Over the past week, we’ve received a number of your questions on our plans for Liquidity Mining Rewards (LMR). You asked – we are answering.

Q1: When will you cease the reward payouts?

A1: As we mentioned in the previous dev update, we will first proceed with releasing a refactored Trading API. Within a few weeks after the initial release, we’ll see if the Liquidity Mining Rewards work fine – if so, there is a chance that we will keep them running, but in a modified way. 

Q2: How will the process go, and how will LMR change?

A: With both the Trading API release and marketing campaigns aimed at algo traders, we plan to increase liquidity on our Spot Markets. If everything goes well, we’ll be able to bring the Liquidity Mining Program back, but it will work differently: rewards will be distributed among users depending on markets traded volume – and one more factor we are not yet ready to disclose.

Upcoming Testnet Update

Next week, we’ll be proceeding with a brand new release packed with features our whole community has been looking forward to. After two months of hard work, we are finally ready to move to the testing phase. 

Of course, bringing the release to our Mainnet would be too risky, so we’ll be launching it in the Testnet first. During the testing phase, we will need to collect as much data as we can on the behavior of the Trading Engine in all possible scenarios. 

So next week is going to be action-packed! We can’t wait, and will definitely update you on how it goes.

See you next Friday, when we are back with Dev update # 6!

August 13, 2021
Digitex

Digitex dev update #5: Hummingbot Connector, Testnet Update & FAQ on Liquidity Mining Rewards

Digitex
Digitex dev update #5: Hummingbot Connector, Testnet Update & FAQ on Liquidity Mining Rewards 20

This week went smoothly for Digitex, as we released Trading UI Switcher and refactored the Manual trade block. Here is a short overview of the upcoming features.

Meet Hummingbot

Our work on refactoring Trading API is progressing as planned, so now we are ready to introduce the Hummingbot connector for Digitex exchange. 

Hummingbot is an extremely popular open-source application that allows using Trading API by connecting directly to multiple exchanges. It enables trading via default strategies, modifying those strategies, or building your own. 

Soon – hopefully, within two weeks – Digitex will join the list of these exchanges. After going through with the release, we will ask Hummingbot for a code review of the Digitex connector. Should everything go smoothly, Hummingbot Connector will be included in the default Hummingbot bundle.

Liquidity Mining: The FAQ

Over the past week, we’ve received a number of your questions on our plans for Liquidity Mining Rewards (LMR). You asked – we are answering.

Q1: When will you cease the reward payouts?

A1: As we mentioned in the previous dev update, we will first proceed with releasing a refactored Trading API. Within a few weeks after the initial release, we’ll see if the Liquidity Mining Rewards work fine – if so, there is a chance that we will keep them running, but in a modified way. 

Q2: How will the process go, and how will LMR change?

A: With both the Trading API release and marketing campaigns aimed at algo traders, we plan to increase liquidity on our Spot Markets. If everything goes well, we’ll be able to bring the Liquidity Mining Program back, but it will work differently: rewards will be distributed among users depending on markets traded volume – and one more factor we are not yet ready to disclose.

Upcoming Testnet Update

Next week, we’ll be proceeding with a brand new release packed with features our whole community has been looking forward to. After two months of hard work, we are finally ready to move to the testing phase. 

Of course, bringing the release to our Mainnet would be too risky, so we’ll be launching it in the Testnet first. During the testing phase, we will need to collect as much data as we can on the behavior of the Trading Engine in all possible scenarios. 

So next week is going to be action-packed! We can’t wait, and will definitely update you on how it goes.

See you next Friday, when we are back with Dev update # 6!

Latest News

Spot Ladder Trading and UI Improvements Are Currently Live 21

Spot Ladder Trading and UI Improvements Are Currently Live

Digitex
• Digitex
August 10, 2021

In last week’s dev update, we have announced new improvements for the Digitex Exchange’s trading UI. And now, we have just implemented these changes, which are currently live on all our markets.

So, what are these new features we are referring to?

Spot Ladder Trading and UI Switcher

The Ladder Trading UI is an intuitive layout that allows our users to place trades easily with a single click. Until now, the Ladder layout was only available for trading pairs on the Digitex Futures exchange.

However, from August 10, you can access the Ladder Trading UI on all markets, which means that you can now place trades conveniently on the Digitex Spot Exchange as well.

However, suppose you prefer to trade crypto with the Classic UI. In that case, you don’t necessarily have to switch as we have introduced several new options for customizability so you can tailor the Digitex Exchange’s layout to suit your individual needs and trading style.

Spot Ladder Trading and UI Improvements Are Currently Live 22

If you click the “Settings” icon in the top right, you will see an option in the drop-down menu to select between the Classic and Ladder layout preference for all markets.

Spot Ladder Trading and UI Improvements Are Currently Live 23

After choosing your preferred UI, you will have to confirm your selection by clicking the “Apply” button via the pop-up.

Spot Ladder Trading and UI Improvements Are Currently Live 24

You can also set a different UI for each market (e.g., Ladder for DGTX/USDC and Classic for ETH/BTC) by clicking the “Layout” icon right next to the trading pair’s ticker (as illustrated with the above image).

Preset Settings Improvements

We have also fine-tuned Preset settings to offer a smoother and more seamless trading experience for our users on both the spot and futures markets, which will come in handy for those utilizing the Ladder interface.

Spot Ladder Trading and UI Improvements Are Currently Live 25

If you click on the “Settings” icon next to the presets, you will notice that we have added both a percentage of your trading account and exact values (number of contracts for the futures and amount of digital assets for the spot market).

Spot Ladder Trading and UI Improvements Are Currently Live 26

As a result, you can now switch between percentage-based, and exact values across six different presets for each trading pair.

New Block for Manual Futures Trading

In addition to introducing the UI switcher and preset changes, we have revamped the entire block for manual futures trading.

Spot Ladder Trading and UI Improvements Are Currently Live 27

Besides making it more user-friendly, our dev team has added a “Reduce only” box you can optionally tick to fine-tune your delayed actions as well as limit and market orders.

Furthermore, we have fixed how the maximum quantity for futures is calculated.

Besides the updates we have introduced above, we have also made some small tweaks and fixes for our platform to improve the user experience.

That’s all for now. We will return with more updates from our developer team this Friday. Stay tuned!

August 10, 2021
Digitex

Spot Ladder Trading and UI Improvements Are Currently Live

Digitex
Spot Ladder Trading and UI Improvements Are Currently Live 28

In last week’s dev update, we have announced new improvements for the Digitex Exchange’s trading UI. And now, we have just implemented these changes, which are currently live on all our markets.

So, what are these new features we are referring to?

Spot Ladder Trading and UI Switcher

The Ladder Trading UI is an intuitive layout that allows our users to place trades easily with a single click. Until now, the Ladder layout was only available for trading pairs on the Digitex Futures exchange.

However, from August 10, you can access the Ladder Trading UI on all markets, which means that you can now place trades conveniently on the Digitex Spot Exchange as well.

However, suppose you prefer to trade crypto with the Classic UI. In that case, you don’t necessarily have to switch as we have introduced several new options for customizability so you can tailor the Digitex Exchange’s layout to suit your individual needs and trading style.

Spot Ladder Trading and UI Improvements Are Currently Live 29

If you click the “Settings” icon in the top right, you will see an option in the drop-down menu to select between the Classic and Ladder layout preference for all markets.

Spot Ladder Trading and UI Improvements Are Currently Live 30

After choosing your preferred UI, you will have to confirm your selection by clicking the “Apply” button via the pop-up.

Spot Ladder Trading and UI Improvements Are Currently Live 31

You can also set a different UI for each market (e.g., Ladder for DGTX/USDC and Classic for ETH/BTC) by clicking the “Layout” icon right next to the trading pair’s ticker (as illustrated with the above image).

Preset Settings Improvements

We have also fine-tuned Preset settings to offer a smoother and more seamless trading experience for our users on both the spot and futures markets, which will come in handy for those utilizing the Ladder interface.

Spot Ladder Trading and UI Improvements Are Currently Live 32

If you click on the “Settings” icon next to the presets, you will notice that we have added both a percentage of your trading account and exact values (number of contracts for the futures and amount of digital assets for the spot market).

Spot Ladder Trading and UI Improvements Are Currently Live 33

As a result, you can now switch between percentage-based, and exact values across six different presets for each trading pair.

New Block for Manual Futures Trading

In addition to introducing the UI switcher and preset changes, we have revamped the entire block for manual futures trading.

Spot Ladder Trading and UI Improvements Are Currently Live 34

Besides making it more user-friendly, our dev team has added a “Reduce only” box you can optionally tick to fine-tune your delayed actions as well as limit and market orders.

Furthermore, we have fixed how the maximum quantity for futures is calculated.

Besides the updates we have introduced above, we have also made some small tweaks and fixes for our platform to improve the user experience.

That’s all for now. We will return with more updates from our developer team this Friday. Stay tuned!

Latest News