Digitex dev update #9: New Spot Markets, Trading Fees & Trading REST API Testing 1

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 2

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.

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