Tuesday, January 9, 2018

A commission-free, trustless futures exchange for trading digital currency prices


Digitex

A commission-free, trustless futures exchange for trading digital currency prices

WHITEPAPER

DGTX Token

• DGTX is the protocol token that is the native currency of the Digitex Futures Exchange.
• The tick value of every Digitex futures market is 1 DGTX token.
• Margin requirements on each Digitex futures market are payable in DGTX tokens because profits and losses are denominated in DGTX tokens.
• Account balances on the Digitex Futures Exchange, which are held by an independent smart contract, are denominated in DGTX tokens.
• It is the creation of new DGTX tokens after approximately 2 years that allows the exchange to operate without needing to charge transaction fees.
• The DGTX Token Sale/Initial Coin Offering (ICO) creates an initial supply of 1,000,000,000 DGTX (one billion DGTX tokens).
• There is no creation of new DGTX tokens for the first 2 years after the launch of the Digitex Futures Exchange.
• Approximately 2 years after launching, the Digitex Futures Exchange starts to create new DGTX tokens to cover the costs of running the Digitex Futures Exchange.
• New token issuance causes inflation but it also creates high demand for DGTX tokens by subsidizing commission-free futures markets that attract large numbers of traders who must buy DGTX tokens to participate.
• DGTX is an Ethereum based, ERC-223 token that will be freely tradable for Bitcoin, Ether and many other cryptocurrencies on the Digitex platform through integration with trustless, decentralized token trading protocols such as swap.tech, 0xproject.com and bancor.com. 6
• Traders can eliminate DGTX price risk from their trades with the DGTX Peg System.