Digitex dev update #11: WebSocket API description release, Python client for REST Trading API & DUSD comeback 1

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 2

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.

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