By now, you’ll have probably heard our exciting news about the launch of Digitex’s own IEO platform Blockfunder. As with everything we do, we’ve been collecting your thoughts and feedback on the initiative. We’ve received a lot of praise and positivity around Blockfunder, but several concerns about the first project to launch, Blockster. So, let’s discuss your main queries here and let you in on the vision we have for Digitex moving forward.
Q. Why are you launching a new product, are you giving up on the exchange?
A. Absolutely not! Digitex is (and will always be) our flagship product and, as you know, we are continually working to develop and improve it, with zero-fee spot markets, improved UI, and competitive staking programs among some of our latest developments.
Blockfunder is just one of Digitex’s most recent products and, apart from many other advantages, we see it as an excellent opportunity to create an additional new utility for DGTX. As we will be accepting DGTX only in certain phases of the fundraisers, we have the chance to reduce its circulating supply.
We’re not stopping at the Blockster platform, either. Our goal is to host all types of high-potential blockchain projects that we believe will become successful and expand the Digitex ecosystem. We’re launching Blockster first because it makes sense. As a dedicated social network for all things crypto, Blockster will help Digitex and benefit all future IEO projects. They will have a dedicated marketing channel to promote their token sales.
Blockster will allow us to amass a highly targeted audience and direct traffic to the Digitex exchange. We can also build strategic partnerships with cryptocurrency projects via Blockster to be able to list them on Digitex for you to trade.
So for anyone concerned that we’re walking away from Digitex, nothing could be further from the truth. Blockster creates a tremendous opportunity for all of Digitex’s products to be marketed. Here are just a few examples:
- Blockfarm: Our new yield farming platform inside the exchange allows for attractive rewards in a host of different cryptocurrencies by staking DGTX. Within Blockster, there will be a link for users to discover new coins that they can farm by staking DGTX.
- Blockfunder: Our new IEO platform for launching up-and-coming projects. Users within Blockster can discover innovative initiatives and get in at the early stages.
- Digitex: Our flagship zero-fee spot and futures exchange. Users can be directed from Blockster to Digitex to buy any of the cryptocurrencies that are partnered with our exchange. If you get a chance to read the whitepaper, you’ll see that Blockster has a coin ranking page called Blockwatch (similar to Coinmarketcap). You can click on each individual coin and view their page. Over time, we plan to partner with all the major cryptos in the space and we build coin listing partnerships with Digitex.
Blockster will open doors for Digitex in so many ways. Our goal is to build an ecosystem of products that support each other. We’ve been working very hard, we’re moving at a much faster pace than ever before, and the quality of our products has greatly improved. That’s because we’ve dedicated a lot of time and effort to building a strong team to support our endeavors.
We’re still working on improvements to the Digitex exchange and we’re very much aware of what we need to work on. The guys are working as fast as they can to improve key features like our API, liquidity, and volume–all without jeopardizing quality. As our technology improves, so will our ability to attract more and more users to Digitex.
Q. What will happen to the DGTX collected?
A. The DGTX tokens which we collect from this IEO will be put away, and not sold back on the market. The idea is to collect tokens to reduce the circulating supply–putting them back out would be going backwards. Our company goal is to build demand for the DGTX token. This is why we’ve been introducing new products within our exchange that will lend more utility to the DGTX token.
Currently, DGTX allows you to trade on our zero-fee futures and spot markets, stake on Blockfarm, lend liquidity on Uniswap, earn liquidity mining rewards by trading DGTX for market-making purposes, and, most recently, buy new tokens on our IEO platform… And there’s still plenty more to come this year.
So far, Q2 has been focused on releasing new products, testing, and improving them. What you’ll see during the second half of this year is a greater focus on business development, so that we can build new partnerships, get new listings for Digitex, and more tokens to yield farm on Blockfarm. Blockfunder will also have new initial exchange offerings. So we ask for your support, community! Because it’s all happening and it’s all going to come together.
Q. Is Blockster just an attempt at a “money grab”?
Unfortunately, we had a fair amount of concerns about Blockster, and some community members wanting to know why we’re tokenizing Blockster, and whether it’s just an attempt at a “money grab” from us. But, how is accepting DGTX only in half the phases of the token sale a money grab? We’re going to be reducing DGTX’s circulating supply, which will help our utility token to recapture value.
Moreover, we’re tokenizing Blockster for several other reasons as well. To start with, the money we raise will be used to further develop the platform and allow us to pursue high-scale marketing initiatives. Just imagine being able to have a few million users on Blockster! As a Digitex product, we can then direct the traffic straight to the exchange. This will be huge for us in attracting new users.
Additionally, unlike the myriad of blockchain projects out there that still haven’t launched their products or have insufficient experience in development, Blockster is a product that has been in development for a full year now and is in the final testing stages, with a solid team behind it.
As more people join the crypto industry, and existing participants still have to navigate a fragmented landscape for all their needs, Blockster will become the perfect go-to platform for them.
Q. Isn’t BXR at $1 per token too high?
A. No. We don’t think it is. Actually, if you do some research on the going rate to advertise cryptocurrency projects, you’ll see how expensive it is to advertise to a legitimate and highly targeted audience–we’re building that audience for Blockster.
We want you to get behind us and understand our vision for the Digitex ecosystem. With the token sale coming up on June 7, we also want to make sure that we clear up any doubts and help you understand why Blockster is so well placed to succeed. So, please, if you still have questions, send them to our support team or share them on our social channels. We will answer them all.