Support

Complete Beginners Guide Now Live on Support Pages

Digitex Futures
• Sulla Felix
June 19, 2020

What an amazing journey Digitex Futures has had since January 2018 and most importantly, what a vibrant community has been built as a result. With its first 570 users onboarded and daily Volume averaging above $100,000,000, the Digitex Futures Exchange is starting to deliver its promises in the form of products. 

In the recent development update, we presented some awesome news on the roadmap, including working hard to get markets in new contracts such as ETH, gold, and oil live this summer. Digitex doesn’t just want to offer the most innovative cutting-edge exchange but also the most user-friendly platform on the market, proving that its users and community are priority number one. 

Many community members have followed Digitex through thick and thin, for which the team at Digitex can only extend the warmest gratitude and continue working tirelessly to deliver for those who have supported this project throughout this amazing journey. 

Preparing for Adoption

With such a strong community behind us, there is little doubt that adoption will follow shortly after public opening. Many of those joining will be first-time users gaining exposure to the exchange, with little previous knowledge of what we are offering and trying to achieve. 

To prepare for this, we have been developing a ‘Beginners Guide to Digitex Futures’ that we hope will help ease the learning curve. Not only for those who have no exposure to Digitex but also for those who have recognized the value of holding DGTX, and now need some guidance to start their trading journey.  

In this Guide, we have tried to cover everything that a new user needs to set up an account with Digitex Futures regardless of previous trading experience. We hope to help our users navigate the Exchange with ease and provide answers and understanding to some of the more difficult questions:

What is a Perpetual Futures Contract?

How does Leverage work and how is it linked to Margin and Liquidation?

Where do I get the DGTX token and how do I place trades on the Exchange?

We hope this guide can serve as the starting point for anyone and everyone with any questions about the Digitex Futures Exchange, what it is, and, how to use it. 

The Digitex Futures Guide aims to ensure that users have all the information required to provide complete clarity in how the platform is designed. Understanding the Exchange and its tools is the vital first step that users should take to give themselves the highest chance of success from their very first trade.  

The Guide is now live on our Support section, available to all.

Share It Far and Wide! 

This guide might not be required by everyone. But we all know someone who might benefit from this as an initial starting point.  Now, I would like to raise a call to arms – to those amazing supporters, please share the Guide with your friends and family who are interested in learning what Digitex is and has to offer. If you see others struggling, hopefully this Guide can serve as a starting point to help them along their way.

This journey has highlighted that the Digitex community is like no other when it comes to supporting one another. One year ago, how many of us would dare to believe that the first 570 traders would generate a daily volume of over $100,000,000. Now consider what we might achieve with another year of the same camaraderie. Let us continue to celebrate together, support each other, and strive for future success.

June 19, 2020
Digitex Futures

Complete Beginners Guide Now Live on Support Pages

Sulla Felix
Support

What an amazing journey Digitex Futures has had since January 2018 and most importantly, what a vibrant community has been built as a result. With its first 570 users onboarded and daily Volume averaging above $100,000,000, the Digitex Futures Exchange is starting to deliver its promises in the form of products. 

In the recent development update, we presented some awesome news on the roadmap, including working hard to get markets in new contracts such as ETH, gold, and oil live this summer. Digitex doesn’t just want to offer the most innovative cutting-edge exchange but also the most user-friendly platform on the market, proving that its users and community are priority number one. 

Many community members have followed Digitex through thick and thin, for which the team at Digitex can only extend the warmest gratitude and continue working tirelessly to deliver for those who have supported this project throughout this amazing journey. 

Preparing for Adoption

With such a strong community behind us, there is little doubt that adoption will follow shortly after public opening. Many of those joining will be first-time users gaining exposure to the exchange, with little previous knowledge of what we are offering and trying to achieve. 

To prepare for this, we have been developing a ‘Beginners Guide to Digitex Futures’ that we hope will help ease the learning curve. Not only for those who have no exposure to Digitex but also for those who have recognized the value of holding DGTX, and now need some guidance to start their trading journey.  

In this Guide, we have tried to cover everything that a new user needs to set up an account with Digitex Futures regardless of previous trading experience. We hope to help our users navigate the Exchange with ease and provide answers and understanding to some of the more difficult questions:

What is a Perpetual Futures Contract?

How does Leverage work and how is it linked to Margin and Liquidation?

Where do I get the DGTX token and how do I place trades on the Exchange?

We hope this guide can serve as the starting point for anyone and everyone with any questions about the Digitex Futures Exchange, what it is, and, how to use it. 

The Digitex Futures Guide aims to ensure that users have all the information required to provide complete clarity in how the platform is designed. Understanding the Exchange and its tools is the vital first step that users should take to give themselves the highest chance of success from their very first trade.  

The Guide is now live on our Support section, available to all.

Share It Far and Wide! 

This guide might not be required by everyone. But we all know someone who might benefit from this as an initial starting point.  Now, I would like to raise a call to arms – to those amazing supporters, please share the Guide with your friends and family who are interested in learning what Digitex is and has to offer. If you see others struggling, hopefully this Guide can serve as a starting point to help them along their way.

This journey has highlighted that the Digitex community is like no other when it comes to supporting one another. One year ago, how many of us would dare to believe that the first 570 traders would generate a daily volume of over $100,000,000. Now consider what we might achieve with another year of the same camaraderie. Let us continue to celebrate together, support each other, and strive for future success.

Latest News

Wondering How To Buy Futures? Check Out This Quick Guide 1

Wondering How To Buy Futures? Check Out This Quick Guide

Digitex Futures
Trading
• Christina Comben
September 2, 2019

As we announced the launch of our public testnet and inch closer to opening the gates, things are starting to get real at last! You may find yourself wondering how to buy futures or indeed, what futures really are. In this article, we explain the basic concepts, how to buy futures, the types of contracts, and all you need to know to get into stock futures investing.

About Futures 

For a more in-depth overview of futures and futures trading, check out our how-to guide here. However, the basic premise is this: Think of futures contracts as agreements between two parties to trade an asset (in this case Bitcoin) for an agreed-upon price in the future. 
Trading futures has many benefits and started out as a way of allowing large companies, farmers, oil producers, etc. to hedge their commodities’ value against price fluctuations. Say an oil producer believes that the price per barrel will drop significantly in the next six months. He can enter a futures contract to sell at today’s price in six months to secure his profit. Of course, he loses out if the price rises. Trading futures is always a gamble, even more so in the cryptocurrency space.
There are many different types of futures contracts, including physically settled and cash-settled, as well as daily and monthly settled and perpetual swaps. Until Bakkt makes its entrance in September of this year with the first physically settled Bitcoin Futures market, all futures in the crypto space are cash-settled. This means that the traders pay each other the difference instead of physically delivering the underlying asset (Bitcoin). 
While some traders are looking to hedge on price, most modern futures traders are speculators looking to trade on price fluctuations and make cash profits, rather than taking custody of the underlying asset (i.e. barrels of oil, bars of gold, or even bitcoins). This would be a physically-settled contract and is more applicable to institutional space, agricultural or airline industries, for example. 

Perpetual Swaps

What are perpetual swap contracts? Perpetual swaps have no expiration date, unlike daily or monthly settled futures contracts. This makes them easier to understand for retail traders and they will be the main focus of the Digitex Futures exchange. As Adam stated in the AMA about the testnet:
“With a futures contract that may not expire for another month, there’s a premium because the spot price is further away from the contract price. Also, at settlement, there’s a need to settle the old contract and then open a new contract. Perpetual swap futures are the way forward for attracting retail traders and therefore, ensuring volume.”

Futures Markets

The futures market globally is now enormous and growing all the time according to the Futures Industry Association, with futures traded against stocks, Forex, cryptocurrencies, indices, bonds, gold, and more.
If you were asking questions like, what are stock futures, what is day trading futures, and how to buy futures, it helps to have an overview of the different types of markets first–as well as the tools that good futures traders use to magnify their profits.
You can buy futures contracts through a traditional broker or online from an abundance of sites that make trading simpler and easier, cut out intermediaries and lower costs. On the Digitex Futures exchange, you’ll be able to buy cryptocurrency futures with zero commissions on all trades–a first for both the crypto and the futures industry.
Futures traders often use tools like margin and leverage to increase their profit sizes. Borrowing funds from an exchange to take a bigger position can be risky and highly leveraged traders can get blown out in volatile markets. However, leverage does give skilled traders the chance to make a lot of money fast and greatly magnify their winnings. This is why 100x leverage has become so popular in the cryptocurrency markets.

How to Buy Futures on the Digitex Exchange

On the Digitex exchange, you can buy futures using DGTX only. This means that you’ll need to know where to buy ether, first of all, to purchase DGTX and then all your profits and losses will be denominated in DGTX.
As Adam highlighted in his AMA, you will be buying a perpetual swap contract, which will be a dollar’s worth of DGTX tokens and has no expiration date. We are still finalizing the futures contract specifications, however, they will be essentially the same as other major futures exchanges such as BitMEX and Bybit to make it easier for their traders to switch over to Digitex. We want to make it as simple as possible to create winning traders and to allow them to trade successfully. 
Skilled traders are used to trading futures for profit. It takes time and discipline, but even you’re just starting out, earning some extra income from day trading futures is certainly within your reach, especially on a platform that charges no commissions and has no mechanical edge working against you.

September 2, 2019
Digitex Futures
Trading

Wondering How To Buy Futures? Check Out This Quick Guide

Christina Comben
Wondering How To Buy Futures? Check Out This Quick Guide 2

As we announced the launch of our public testnet and inch closer to opening the gates, things are starting to get real at last! You may find yourself wondering how to buy futures or indeed, what futures really are. In this article, we explain the basic concepts, how to buy futures, the types of contracts, and all you need to know to get into stock futures investing.

About Futures 

For a more in-depth overview of futures and futures trading, check out our how-to guide here. However, the basic premise is this: Think of futures contracts as agreements between two parties to trade an asset (in this case Bitcoin) for an agreed-upon price in the future. 
Trading futures has many benefits and started out as a way of allowing large companies, farmers, oil producers, etc. to hedge their commodities’ value against price fluctuations. Say an oil producer believes that the price per barrel will drop significantly in the next six months. He can enter a futures contract to sell at today’s price in six months to secure his profit. Of course, he loses out if the price rises. Trading futures is always a gamble, even more so in the cryptocurrency space.
There are many different types of futures contracts, including physically settled and cash-settled, as well as daily and monthly settled and perpetual swaps. Until Bakkt makes its entrance in September of this year with the first physically settled Bitcoin Futures market, all futures in the crypto space are cash-settled. This means that the traders pay each other the difference instead of physically delivering the underlying asset (Bitcoin). 
While some traders are looking to hedge on price, most modern futures traders are speculators looking to trade on price fluctuations and make cash profits, rather than taking custody of the underlying asset (i.e. barrels of oil, bars of gold, or even bitcoins). This would be a physically-settled contract and is more applicable to institutional space, agricultural or airline industries, for example. 

Perpetual Swaps

What are perpetual swap contracts? Perpetual swaps have no expiration date, unlike daily or monthly settled futures contracts. This makes them easier to understand for retail traders and they will be the main focus of the Digitex Futures exchange. As Adam stated in the AMA about the testnet:
“With a futures contract that may not expire for another month, there’s a premium because the spot price is further away from the contract price. Also, at settlement, there’s a need to settle the old contract and then open a new contract. Perpetual swap futures are the way forward for attracting retail traders and therefore, ensuring volume.”

Futures Markets

The futures market globally is now enormous and growing all the time according to the Futures Industry Association, with futures traded against stocks, Forex, cryptocurrencies, indices, bonds, gold, and more.
If you were asking questions like, what are stock futures, what is day trading futures, and how to buy futures, it helps to have an overview of the different types of markets first–as well as the tools that good futures traders use to magnify their profits.
You can buy futures contracts through a traditional broker or online from an abundance of sites that make trading simpler and easier, cut out intermediaries and lower costs. On the Digitex Futures exchange, you’ll be able to buy cryptocurrency futures with zero commissions on all trades–a first for both the crypto and the futures industry.
Futures traders often use tools like margin and leverage to increase their profit sizes. Borrowing funds from an exchange to take a bigger position can be risky and highly leveraged traders can get blown out in volatile markets. However, leverage does give skilled traders the chance to make a lot of money fast and greatly magnify their winnings. This is why 100x leverage has become so popular in the cryptocurrency markets.

How to Buy Futures on the Digitex Exchange

On the Digitex exchange, you can buy futures using DGTX only. This means that you’ll need to know where to buy ether, first of all, to purchase DGTX and then all your profits and losses will be denominated in DGTX.
As Adam highlighted in his AMA, you will be buying a perpetual swap contract, which will be a dollar’s worth of DGTX tokens and has no expiration date. We are still finalizing the futures contract specifications, however, they will be essentially the same as other major futures exchanges such as BitMEX and Bybit to make it easier for their traders to switch over to Digitex. We want to make it as simple as possible to create winning traders and to allow them to trade successfully. 
Skilled traders are used to trading futures for profit. It takes time and discipline, but even you’re just starting out, earning some extra income from day trading futures is certainly within your reach, especially on a platform that charges no commissions and has no mechanical edge working against you.

Latest News

Recap AMA on the Digitex Public Testnet Launch  3

Recap AMA on the Digitex Public Testnet Launch 

Digitex Futures
• Christina Comben
August 29, 2019

Last week, we announced that Digitex Futures will launch our public testnet starting 30th November. So far, the announcement has been met with mixed reactions, but our CEO Adam Todd has never been one to shy away from our supporters. In this AMA, he candidly takes on all your questions about the launch and more.

AMA – The Digitex Public Testnet Launch

Adam opens the video by recapping last week’s launch announcement and openly expressing his surprise that the announcement wasn’t received more bullishly. He admits he misread the perception and hadn’t realized people think November is so far away. He highlights that since April, there has been a vast amount of development progress and November is closer than it may seem. 
From this brief introduction, Adam goes straight into your questions. Let’s take a look at them one at a time. 

Q: Does the BTCUSD perpetual contract market as an initial offering indicate a shift away from traditional futures to perpetual contracts? 

Yes, it does. We’ve been looking into other exchanges like BitMEX, and have sought feedback from experts in the market. As a result, we believe that perpetual swaps are more appealing to retail traders. They’re simpler to understand, with no expiry date. With an eight hour funding period, the swap price doesn’t get that far out from the spot price. 
With a futures contract that may not expire for another month, there’s a premium because the spot price is further away from the contract price. Also, at settlement, there’s a need to settle the old contract and then open a new contract. Perpetual swap futures are the way forward for attracting retail traders and therefore, ensuring volume. 

Q: Will traditional futures with an expiry date be an option, or will Digitex focus mostly on perpetuals? 

We plan to focus mostly on perpetuals. The more markets and products that we offer, the more we’ll end up breaking up liquidity between different offerings. We don’t want to be the Amazon of futures exchanges. So yes, we are going for fewer strong markets to consolidate liquidity rather than offer hundreds of different products.

Q: What are the specifications of the perpetual swap contracts? 

It will be a dollar’s worth of DGTX tokens. The contract specifications will be the same as the other exchanges like BitMEX or Bybit. There’s a simple reason for this – we want traders from those exchanges to come over to Digitex and therefore, it has to be an easy switch. 
Along with manual traders, we expect there will also be many bot traders. We don’t want bot traders to have to reprogram everything for a new set of contract specifications. Bot traders will be able to come over to our exchange easily, using their existing configuration. Having the same contract specifications as other exchanges will also encourage arbitrageurs between exchanges. 

Q: Any further information on the peg system? 

To explain, the Digitex peg system is just another futures market for the price of DGTX against ETH, BTC or USD. It offers a means of hedging the price of your DGTX while you’re holding it so you can trade on our futures exchange. It locks in the price of DGTX. As you’re holding DGTX, you could sell a futures contract for your holdings on the Digitex peg system so if the price goes down, you may lose money on your trades but you’ll gain money on the peg system futures short positions. The same applies vice versa. 
It will be tailored to the perpetual swaps, so a dollar’s worth of DGTX. It will likely be a perpetual swap specification, but we still have to determine all the specs together with SmartDec. Watch this space.

Q: Will there be an API at full launch or even at the test stage? 

This is really a development question so it depends on SmartDec. For the testnet, however, there won’t be an API.  

Q: For the testnet launch, SmartDec’s announcement stated the platform will support 10,000 users. Does this mean only 10,000 users can use the platform? 

Yes, for as long the testnet lasts, there will be a maximum of 10,000 users. We don’t yet know how long the testing will run. It depends on SmartDec as a development-led decision. 

Q: Given that you plan to be non-custodial long-term, does this mean that BTC, EOS, TRON, etc won’t be listed on the spot markets?

Not necessarily, no. We won’t offer a spot market without Bitcoin, it doesn’t make any sense. This may mean we won’t offer BTC spot markets with non-custodial accounts. Maybe in the future it will be possible to offer non-custodial accounts with BTC based on a Bitcoin smart contract layer like RSK. However, this isn’t something we’re actively investigating right now.
As things stand, we want to offer BTC on spot markets, even if it’s on a custodial basis. But spot markets will only be part of our roadmap once we’ve launched. Once we do launch, we’ll work with SmartDec to determine how and when we can develop a spot market solution.  

Q: Any new exchange listings coming up? 

Yes, we have a new exchange listing announcement coming out at the end of this week. We can’t say too much, but it isn’t Binance! There will be an app for mobile trading of DGTX. It’s our plan to get listed on more exchanges. 

Q: What about the DAO? 

We’ve had a lot of questions about this, but it isn’t really a topic for this AMA, as we want to focus on the testnet announcement. We’ll be dedicating a further AMA to this later on. However, we can provide a brief update. 
We were going to issue DigiDAO tokens in October, but we’ve made a conscious business decision to delay this for now.
The reason is that if we start issuing DigiDAO tokens now before the testnet has even launched, there’s a risk that people might start dumping them at any price. Even with the testnet announcement having come directly from SmartDec, there is still a lot of doubt and FUD going on right now which is reflected in the current price. While we understand this, it means that there’s currently too much risk to start issuing DigiDAO tokens. 
To explain further, if we do start issuing tokens and people try to dump them, it creates a further set of problems. The DigiDAO has some characteristics of being a security as it represents equity ownership, so it won’t get listed on any of the big, liquid, centralized exchanges. If people do decide to dump the tokens, their only option will be to sell them on illiquid DEXs. 
We need to make sure that the DAO tokens are tradeable and liquid if the DAO is to be a success. Once we launch our own spot market, we’ll be in a position to manage liquidity. Until then, we won’t be releasing the DAO tokens. It may be disappointing but from a business perspective, it’s the best and most sustainable way forward. 

Q: If the Treasury doesn’t sell tokens for a while if the price is below $0.05c, will Digitex survive? 

Of course, Digitex will survive! Adam and the team are committed to the future of the company no matter what happens. In every sense of the word, we’re better than we have ever been. The current price doesn’t reflect the current state of the company, and our cash flow situation is secure. 

Q: When will we see a demo or screenshots? 

As soon as we have screenshots or a demo from SmartDec, we will share them with you. SmartDec are conservative in their approach, to make sure they can deliver what they promise. So they won’t release anything too early, in order not to build excitement before they’ve ensured the reality matches up. 

Q: Is there a chance that existing exchanges with their own coin will steal the Digitex idea? 

If nobody wants to copy our idea, that’s not necessarily a good thing! Look at the markets – even Binance is entering the futures game, which is great and lends validity to what we’re doing. 
However, remember that for the existing exchanges, their fee model is working for them as it is. There isn’t necessarily any reason for them to change it at this point. Digitex is different in many ways from these companies. We don’t exist to make our stakeholders profit. But if the competition is there, we’re happy to take it on. 

Q: Have you considered offering trading competitions on testnet? 

Yes, once the testnet is open then we’re happy to offer some user-generated content. Anything that can generate interest and engagement is a great idea. It’s not yet confirmed, but we like the idea. 

Q: Is KYC needed for test net? 

There isn’t any reason why we’d need to perform KYC on testnet because we’re not trading real money. There will be KYC on the live launch. 
It’s possible we may keep the testnet open beyond the live launch date. It could be a great training ground for new traders. It’s just an idea at this point, but it’s possible. 

Q: When will the promotion begin? Will you be opening up the waitlist competition again? 

We have so many big plans! We can’t say too much at this point, but we have a viral marketing campaign in store, and starting soon. 

Q: Will there be 100x leverage on testnet? 

Yes, the testnet will have all the features of the mainnet contract, but without real money.

Q: Are SmartDec devs ever going to appear on videos? It would help morale. 

We would love them to, but not everyone enjoys being on camera! Perhaps in the future we may feature some of the developers on our videos.

Q: Will the exchange be in multiple languages? 

Yes, absolutely. We’ve translated our website into Chinese, Japanese, Korean and Russian. Our waitlist and affiliate program is also already translated. We’re looking at more languages, including Turkish, Vietnamese, and Brazilian Portuguese. Our marketing campaigns will also be in multiple languages. 

Q: When will we see a roadmap with future events? 

At the moment the roadmap is just to get us to the beta launch. After that, we’ll put a roadmap together, with timelines for further features, such as a mobile app. 
Bear in mind that this is going to be a long development process. If we do all the things we want to do to make our exchange what we want it to be, we have to take it a step at a time. 

Wrapping It Up

We hope we’ve been able to answer all your questions! Overall, everything at Digitex is going very well. We’re really happy with the development progress and our marketing plans. We will be doing another AMA at some point soon, with more updates on development progress. Thanks everyone for joining this session and if you have any questions, don’t forget to join in the conversation on Telegram.

August 29, 2019
Digitex Futures

Recap AMA on the Digitex Public Testnet Launch 

Christina Comben
Recap AMA on the Digitex Public Testnet Launch  4

Last week, we announced that Digitex Futures will launch our public testnet starting 30th November. So far, the announcement has been met with mixed reactions, but our CEO Adam Todd has never been one to shy away from our supporters. In this AMA, he candidly takes on all your questions about the launch and more.

AMA – The Digitex Public Testnet Launch

Adam opens the video by recapping last week’s launch announcement and openly expressing his surprise that the announcement wasn’t received more bullishly. He admits he misread the perception and hadn’t realized people think November is so far away. He highlights that since April, there has been a vast amount of development progress and November is closer than it may seem. 
From this brief introduction, Adam goes straight into your questions. Let’s take a look at them one at a time. 

Q: Does the BTCUSD perpetual contract market as an initial offering indicate a shift away from traditional futures to perpetual contracts? 

Yes, it does. We’ve been looking into other exchanges like BitMEX, and have sought feedback from experts in the market. As a result, we believe that perpetual swaps are more appealing to retail traders. They’re simpler to understand, with no expiry date. With an eight hour funding period, the swap price doesn’t get that far out from the spot price. 
With a futures contract that may not expire for another month, there’s a premium because the spot price is further away from the contract price. Also, at settlement, there’s a need to settle the old contract and then open a new contract. Perpetual swap futures are the way forward for attracting retail traders and therefore, ensuring volume. 

Q: Will traditional futures with an expiry date be an option, or will Digitex focus mostly on perpetuals? 

We plan to focus mostly on perpetuals. The more markets and products that we offer, the more we’ll end up breaking up liquidity between different offerings. We don’t want to be the Amazon of futures exchanges. So yes, we are going for fewer strong markets to consolidate liquidity rather than offer hundreds of different products.

Q: What are the specifications of the perpetual swap contracts? 

It will be a dollar’s worth of DGTX tokens. The contract specifications will be the same as the other exchanges like BitMEX or Bybit. There’s a simple reason for this – we want traders from those exchanges to come over to Digitex and therefore, it has to be an easy switch. 
Along with manual traders, we expect there will also be many bot traders. We don’t want bot traders to have to reprogram everything for a new set of contract specifications. Bot traders will be able to come over to our exchange easily, using their existing configuration. Having the same contract specifications as other exchanges will also encourage arbitrageurs between exchanges. 

Q: Any further information on the peg system? 

To explain, the Digitex peg system is just another futures market for the price of DGTX against ETH, BTC or USD. It offers a means of hedging the price of your DGTX while you’re holding it so you can trade on our futures exchange. It locks in the price of DGTX. As you’re holding DGTX, you could sell a futures contract for your holdings on the Digitex peg system so if the price goes down, you may lose money on your trades but you’ll gain money on the peg system futures short positions. The same applies vice versa. 
It will be tailored to the perpetual swaps, so a dollar’s worth of DGTX. It will likely be a perpetual swap specification, but we still have to determine all the specs together with SmartDec. Watch this space.

Q: Will there be an API at full launch or even at the test stage? 

This is really a development question so it depends on SmartDec. For the testnet, however, there won’t be an API.  

Q: For the testnet launch, SmartDec’s announcement stated the platform will support 10,000 users. Does this mean only 10,000 users can use the platform? 

Yes, for as long the testnet lasts, there will be a maximum of 10,000 users. We don’t yet know how long the testing will run. It depends on SmartDec as a development-led decision. 

Q: Given that you plan to be non-custodial long-term, does this mean that BTC, EOS, TRON, etc won’t be listed on the spot markets?

Not necessarily, no. We won’t offer a spot market without Bitcoin, it doesn’t make any sense. This may mean we won’t offer BTC spot markets with non-custodial accounts. Maybe in the future it will be possible to offer non-custodial accounts with BTC based on a Bitcoin smart contract layer like RSK. However, this isn’t something we’re actively investigating right now.
As things stand, we want to offer BTC on spot markets, even if it’s on a custodial basis. But spot markets will only be part of our roadmap once we’ve launched. Once we do launch, we’ll work with SmartDec to determine how and when we can develop a spot market solution.  

Q: Any new exchange listings coming up? 

Yes, we have a new exchange listing announcement coming out at the end of this week. We can’t say too much, but it isn’t Binance! There will be an app for mobile trading of DGTX. It’s our plan to get listed on more exchanges. 

Q: What about the DAO? 

We’ve had a lot of questions about this, but it isn’t really a topic for this AMA, as we want to focus on the testnet announcement. We’ll be dedicating a further AMA to this later on. However, we can provide a brief update. 
We were going to issue DigiDAO tokens in October, but we’ve made a conscious business decision to delay this for now.
The reason is that if we start issuing DigiDAO tokens now before the testnet has even launched, there’s a risk that people might start dumping them at any price. Even with the testnet announcement having come directly from SmartDec, there is still a lot of doubt and FUD going on right now which is reflected in the current price. While we understand this, it means that there’s currently too much risk to start issuing DigiDAO tokens. 
To explain further, if we do start issuing tokens and people try to dump them, it creates a further set of problems. The DigiDAO has some characteristics of being a security as it represents equity ownership, so it won’t get listed on any of the big, liquid, centralized exchanges. If people do decide to dump the tokens, their only option will be to sell them on illiquid DEXs. 
We need to make sure that the DAO tokens are tradeable and liquid if the DAO is to be a success. Once we launch our own spot market, we’ll be in a position to manage liquidity. Until then, we won’t be releasing the DAO tokens. It may be disappointing but from a business perspective, it’s the best and most sustainable way forward. 

Q: If the Treasury doesn’t sell tokens for a while if the price is below $0.05c, will Digitex survive? 

Of course, Digitex will survive! Adam and the team are committed to the future of the company no matter what happens. In every sense of the word, we’re better than we have ever been. The current price doesn’t reflect the current state of the company, and our cash flow situation is secure. 

Q: When will we see a demo or screenshots? 

As soon as we have screenshots or a demo from SmartDec, we will share them with you. SmartDec are conservative in their approach, to make sure they can deliver what they promise. So they won’t release anything too early, in order not to build excitement before they’ve ensured the reality matches up. 

Q: Is there a chance that existing exchanges with their own coin will steal the Digitex idea? 

If nobody wants to copy our idea, that’s not necessarily a good thing! Look at the markets – even Binance is entering the futures game, which is great and lends validity to what we’re doing. 
However, remember that for the existing exchanges, their fee model is working for them as it is. There isn’t necessarily any reason for them to change it at this point. Digitex is different in many ways from these companies. We don’t exist to make our stakeholders profit. But if the competition is there, we’re happy to take it on. 

Q: Have you considered offering trading competitions on testnet? 

Yes, once the testnet is open then we’re happy to offer some user-generated content. Anything that can generate interest and engagement is a great idea. It’s not yet confirmed, but we like the idea. 

Q: Is KYC needed for test net? 

There isn’t any reason why we’d need to perform KYC on testnet because we’re not trading real money. There will be KYC on the live launch. 
It’s possible we may keep the testnet open beyond the live launch date. It could be a great training ground for new traders. It’s just an idea at this point, but it’s possible. 

Q: When will the promotion begin? Will you be opening up the waitlist competition again? 

We have so many big plans! We can’t say too much at this point, but we have a viral marketing campaign in store, and starting soon. 

Q: Will there be 100x leverage on testnet? 

Yes, the testnet will have all the features of the mainnet contract, but without real money.

Q: Are SmartDec devs ever going to appear on videos? It would help morale. 

We would love them to, but not everyone enjoys being on camera! Perhaps in the future we may feature some of the developers on our videos.

Q: Will the exchange be in multiple languages? 

Yes, absolutely. We’ve translated our website into Chinese, Japanese, Korean and Russian. Our waitlist and affiliate program is also already translated. We’re looking at more languages, including Turkish, Vietnamese, and Brazilian Portuguese. Our marketing campaigns will also be in multiple languages. 

Q: When will we see a roadmap with future events? 

At the moment the roadmap is just to get us to the beta launch. After that, we’ll put a roadmap together, with timelines for further features, such as a mobile app. 
Bear in mind that this is going to be a long development process. If we do all the things we want to do to make our exchange what we want it to be, we have to take it a step at a time. 

Wrapping It Up

We hope we’ve been able to answer all your questions! Overall, everything at Digitex is going very well. We’re really happy with the development progress and our marketing plans. We will be doing another AMA at some point soon, with more updates on development progress. Thanks everyone for joining this session and if you have any questions, don’t forget to join in the conversation on Telegram.

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