Digitex dev update #8: Trading REST API Progress, Search for Testers, and Converter Refactoring 1

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 2

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. 

Bye for now – and hope you have a nice weekend! See you on Friday, when we are back with Dev update #9.

 

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 3

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 4

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. 

Bye for now – and hope you have a nice weekend! See you on Friday, when we are back with Dev update #9.

 

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