DGTX coin is listed on a new exchange!

[CryptoInvestor]

New Exchange Listing, Trading Contest, and Mainnet AMA with Adam

Posted on May 1, 2020 | by Digitex Futures

It’s been one hell of a week for Digitex, so what better way than to end it with a bang by announcing a brand-new exchange listing for the DGTX token! To celebrate the listing, we’re also teaming up with our new exchange partners for a massive giveaway of DGTX to the most active traders. Topping it all off, CEO Adam has once again taken to our YouTube channel to answer all your questions about the mainnet launch.

New Exchange Listing with ProBit
First off, we are absolutely delighted to announce our newest exchange partners – Korean trading platform ProBit! ProBit is a global top 20 exchange in real daily trading volume.

It features over 300 trading pairs, putting at the top of its game for the range of tokens on offer. The exchange is operating in eight key languages and markets and has over 300,000 monthly active users. This increases to 40,000,000 users once all the partnering aggregators and wallets such as CoinMarketCap are factored in.

Starting from today, ProBit is listing the DGTX/ETH token pair, and deposits are already open for ProBit users. Trading will begin from Monday, May 4, at 15:00 KST (0600 UTC).

Trading Contest – Your Chance to Win Up to 25,000 DGTX
As a way to celebrate the ProBit partnership and the opening of the DFE on mainnet, Digitex Futures is launching a give away of more than 85,000 DGTX tokens in prizes for a Trading Competition!

This contest will prove who’s the biggest trader of them all. The users will be ranked in terms of the total DGTX volume traded on their Probit account (including both buy and sell orders) across the DGTX/ETH trading pair during the campaign period.

The Top 10 Traders will be rewarded as follows:

1st Place: 25,000 DGTX

2nd Place: 15,000 DGTX

3rd Place: 10,000 DGTX

4th-10th Place: 5,250 DGTX each

The rewards will be sent to the winners’ wallets within two weeks after the end of the campaign.

ProBit also offers additional incentives to traders. For example, you can get a discount on trading fees as low as 0.03% if you pay in the exchange’s PROB token. You can also earn 10-30% of trading fees if you refer your friends to ProBit.

So if you’ve been killing time waiting for your chance to get on the DFE, this is your chance to trade to win your share of the DGTX prizes!

Mainnet AMA with Adam


Adam opens the AMA by talking about his delight about the mainnet launch and elaborates on some of the challenges leading up to Monday. Even despite everyone having to work remotely, the developers have said we’re seeing no major problems with the platform and we hope to start onboarding more users as soon as possible, maybe even next week. 

Adam also gave huge thanks to SmartDec for delivering the DFE, and on time. He explained how we now have a fully trained support desk with four different levels of specialists ready to make sure that all users have help on hand in case of any issues.

We’re also building out a team in Kiev, Ukraine. This includes a Director of Exchange Operations Lead and a Technical Leader of Operations who liaise with SmartDec.

Now, we’re also hiring in Kiev for some more market makers and operations staff. We already have a well-developed marketing and advertising team who can generate up to 1,000 signups per day, that we can turn on and off on demand.

A little teaser of what’s in store. Adam has realized that his job is creating demand for the DGTX token and to do that, he wants to create more utility for the DGTX token. Therefore, we have plans to expand Digitex beyond it’s original functionality, but we’ll be in a position to share more soon. There’s so much to come from Digitex over this year.

However, the focus for now is the Digitex Futures exchange, so Adam starts taking your questions!

By when can we have other markets up on the exchange?

We can’t give a date but we are currently working on ETH and XRP markets.

When will stop-loss and increased leverage be put live?

Work is underway. Unfortunately, the coronavirus interrupted our development schedule but we want to implement this as soon as possible.

When will the API become available?

In about a month.

Is the market maker extra conservative at the moment, to be safe?

Yes, at the moment the market makers are set to lose. The first users have an edge working in their favor to compensate for the fact that there’s only 20 traders on there. We’re currently hiring more market makers for the team in Kiev.

What was the first thing you did when the DFE went live?

Adam says he wasn’t sleeping much so its a bit of a blur!

Many exchanges have been hacked before – how does Digitex plan to prevent this?

We have various different audits happening, internal and external, and are hiring operations staff who will also help to ensure that security is tight.

Do we need to make 50 trades or 50,000 trades to get the airdropped tokens?

10,000 round turns and then you can withdraw your DGTX winnings.

After the onboarding process, how long will it take to deliver the spot markets?

Adam wants to get it done by fall of this year but at the moment, it’s difficult to say for certain when it will be ready.

Why not increase the market maker fund to 200 million by printing more tokens? If not in circulation, they won’t affect the market cap.

Adam says this is an idea we’ve been considering. Having the token under our own control is a very powerful tool at our disposal so we’re looking at a lot of different options. Whatever we do has to play into our overall concept and branding, and be unique.

What is the roadmap plan for the next two quarters?

We can’t share it right now. We have a lot of big plans but want to focus on the futures exchange right now.

Could we have a  blog post explaining volume on the DFE comparing to volume on exchanges like BitMEX?

Yes, we can do that.

When will you start marketing Digitex to traders on other exchanges such as BitMEX?

We have been getting up to 150 signups per day on testnet, just as a result of some advertising experiments we’ve been running as tests on different platforms. We haven’t been running hard marketing campaigns because we knew the initial onboarding would be in small groups. But we will ramp up marketing as soon as we’re ready for a full opening.

In future, would it be possible to have a CDP and a liquidity pool for DGTX? E.g. Using DAI to borrow DGTX?

Adam has explored this in the past and even wrote a paper describing how to make DGTX into a stablecoin. It does come with various issues, such as exposure to manipulation, but it needs further investigation.

Can you talk about the trading arm of DFE?

The trading arm is just the bots right now, but as we said, we’re bringing in an operations team in Kiev for market-making. Whether they’re bots or human market makers, everything is about creating liquidity and not taking profits from our traders.

Can the team vesting tokens also be sold through the Treasury?

Any tokens sent to the Treasury can get sold. The team can do whatever they like with their tokens once they’re vested.

Can you talk about the funding of the DFE?

We have plenty of funding. We’ve been hiring employees this month – around 14 people so we aren’t running out of money.

Can we have forex markets on the DFE?

Yes, we want to but we don’t yet know when that will be.

Can the developers remove the mainnet restriction when the PnL is negative 100k or more, it’s not possible to open another trade until the next funding event?

Adam says yes we could do that, he will check.

How many hours are you trading on the DFE?

If you consider the market makers, we’re always trading on the DFE. Adam personally is keeping an eye on it constantly.

What is the timeframe interval between onboarding users?

Adam says we’re thinking of opening to another group of 50 next week. Timing is ultimately up to the #DevelopmentTeam  though.

What happens if the insurance fund goes to zero?

Adam explains that in the worst-case scenario, we could potentially mint tokens via a community vote if holders approved. This would be an absolutely worst case scenario though, assuming there is no other alternative for funding.

Can we have a roadmap for the next six months?

We will publish a roadmap soon.

Can we get crypto YouTubers to promote the DFE?

We have plenty of plans for user-generated content.

Any updates on the exchange listing?

Yes, we have a few in the pipeline. We have someone who is only working on exchange listings full-time. See our ProBit announcement!

Since everything in DFE is calculated in DGTX, will the exchange be ranked on CoinMarketCap?

Yes, we need to perform a recalculation into USD so that we can get ranked on CoinMarketCap and other aggregators.

Do you have the funding to manage all of your employees?

Yes.

Do the market maker bots use leverage or just 1x?

Just 1x right now.

How does SmartDec fit in once the DFE has launched?

We will be working with SmartDec on further development, but once the exchange is live they will hand over to our operations team and only work on future updates.

What’s the biggest thing in the last two years of bringing the DFE to life that stands out for you?

April 27 of this year. Bringing the DFE to mainnet is the defining moment for Adam personally.

What’s your next move with marketing?

There’s a lot happening but we can’t talk about it all yet.

One of the testers reported bugs, but not critical. Can you elaborate?

All testers are helping us find bugs but overall the exchange is running smoothly. There are no major issues.

Have you guys thought about listing rules for alts?

Not right now. We are putting together specs for the spot markets but we haven’t really had the resources to spend on it while we’ve been working on the mainnet launch.

How is the market maker performance for the first 20 traders?

The market makers are losing at a slow but steady pace, and the traders are winning.

How does Digitex store user deposits?

We have a cold and hot multi-sig wallet system in place. We have field experts working on our security.

One of the lead developers mentioned the end of May to complete the onboarding. Is this realistic?

It’s a development-led decision. We want to onboard as quickly as possible but it might be longer than end of May before everyone can get in.

What are your thoughts on the Treasury buyback?

The Treasury buyback simply ensures that traders can access DGTX as soon as they log in. It’s designed to make it as frictionless as possible to start trading on DGTX.

Could we introduce a toggle to show the PnL in DGTX or USD?

Yes, please use the support tickets to make suggestions like these in the future. We will assess all of them, and if we like them, they’ll get implemented.

Is a DGTX/stablecoin pair still a solution for traders to avoid the volatility in the price of DGTX?

We have looked at it but it’s not a priority right now.

What if the 10,000 token winners don’t claim their tokens?

I don’t know.

Will there be a PnL ladder button clickable, like some kind of fast way to close out on the ladder?

Again, these kinds of questions can be directed to support.

Will you implement something to show how much has been saved by DFE users in trading fees?

We can do that, it’s a good idea.

Will the DFE be connected to TradingView once the API is released?

We want to connect Digitex everywhere we can.

When will there be a social platform?

Wait and see!

Is there any lending feature in the Digitex exchange in future?

All good ideas are under consideration, so maybe in future.

Adam wraps up the AMA by saying that he couldn’t be happier with the way the first week has gone, and we’ll continue to work and improve the DFE as much as we can. Ultimately, Digitex will become a world-class exchange with a brand to match.

Posted in Digitex Futures, Trading | Tagged AMA with Adam, Probit listing

https://digitexfutures.com/blog/ama-with-adam-following-mainnet-launch/