Overview
Digitex Futures Exchange is a decentralized platform for trading futures contracts (also called derivatives or options) on cryptographic currencies, commodities and other assets. Digitex offers no-fee transactions through its native DGTX token, which makes it possible to bet on BTC's future price relative to the US dollar.
Futures markets are a double-sided market and play an important role on Wall Street, as the movie The Big Short points out.
The short film shows the prospects of three different investors who realized that securities backed by subprime mortgages could collapse. By shorting the market, they bet on the shares of mortgage companies in anticipation of its collapse and several billion. Netflix's Dirty Money documentary also highlights short sellers in the pharmaceutical industry.
Forward trading is risky for both parties and, in addition to the actual commodity, accounts are usually settled in cash daily. Digitex can compete with cryptochanges such as BitMEX, Bitfinex and GDAX, as well as historical options traders such as the Chicago Board Options Exchange.
Summary of the DGTX Cryptocurrency
Digitex's total offering is 1,000,000,000 DGTX. The sale of Digitex Futures Exchange ICO tokens was held from January 15, 2018 to February 15, 2018. At that time, 700,000,000 DGTX were sold, generating $ 5,200,000 in ETH, BTC, LTC and in USD. New tokens will be created and sold through token issue events approved by Blockchain's decentralized network governance.
There is no trading fee for the next Digitex exchange. The team plans to cover its costs by hitting a limited number of DGTX tokens after a community vote. By forcing all exchanges to go through DGTX, it is planned to create liquidity for the pledge that would allow them to avoid excessive compression of prices.
DGTX can be bought on stock exchanges such as Mercatox, Livecoin and HitBTC. The DGTX business pairs are BTC, ETH and USDT. As an ERC-223 token, DGTX can be stored in all ERC223 compatible cryptocurrency portfolios, which include most ERC20 compatible portfolios.
Is Digitex the Future of Cryptocurrency Exchange?
A work contract is an excellent example of a futures contract. When you are hired at an annual salary of $ 50,000, this rate of pay for your time and performance are set contractually, as well as the frequency of disbursements. You will work every morning on the assumption that you will receive a portion of your annual salary on a weekly, bi-weekly or monthly basis.
Interested in both employers and employees, Digitex's BTC futures have short sellers and long-time buyers. Sellers are betting that the price of cryptocurrency will drop, and sell according to future prices. In doing so, they place the BTC in an escrow, with the terms of the derivative option defined in an Ethereum smart contract. This "locks" the BTC while emitting the same DGTX value.
As the value of the BTC fluctuates against the US dollar, the accounts are settled in terms of the DGTX intelligent contract. The Digitex platform should offer an elegant, simple and intuitive user experience to create these smart contracts. It is not necessary to enter into the smart contract with the end customer - buyers and sellers can sell their interest to another buyer. As the hot potato game, which holds the futures contract on the expiry date either gives or receives a payment, depending on the respective position.
With a high risk, the reward is high, and functioning as a futures market gives Digitex a specialization and an association, for better or for worse. When the value of the contract fluctuates, some parties will be responsible for paying a margin or a security deposit to cover the credit risk.
Of course, Bitcoin will not be the only cryptocurrency available for futures trading. On this exchange, we will see all the capacity, capacity and support of the Digitex network. Finally, it can be expanded to compete with major derivatives markets such as the Chicago Mercantile Exchange
You must be logged in to post a comment.