| | Our community is nothing if not vocal, which is something we genuinely appreciate as it allows us to make good on our commitment of being the only exchange that aligns its interests with the needs of its users. This week, we've made two changes involving the sale of DGTX tokens from the Treasury, and the prizes for the Trading Battle, both of which came after valuable feedback from our loyal tribe of supporters. |
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Bonus Removed From Treasury Token Sales |
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Firstly, following the decision to scrap the Treasury Affiliate program, we've now decided to remove the 10% bonus that was available on Treasury token sales. We had promised to monitor the situation after the previous set of changes, and following the record-breaking Treasury sellout last week, it became clear that some were buying on the treasury and immediately selling them on the exchanges to secure the 10% bonus. This circular buying and selling created downward pressure on the price. Going forwards the Treasury price of DGTX will be kept at 5% above the coinmarketcap price of DGTX.
It's important to remember that the price of DGTX doesn't yet reflect anything close to its real value as the only passport to zero-fee trading.
Once traders realize they need DGTX to trade without paying exchange fees, we believe that demand is going to skyrocket, and our long-term HODLers will finally see their patience rewarded.
In any case, for the next release of Treasury tokens on March 1, we will no longer apply the 10% bonus. Treasury tokens will be available for sale at 5% above the price on CoinMarketCap, with no other bells or whistles in place. For more info about the change and an FAQ, head over to Monday's blog post. |
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The second hot topic of conversation this week has been the Trading Battle. The Battle has been a runaway success, putting the beta platform through its paces and demonstrating that we can handle the kind of volumes that our biggest competitors could only dream about. Just this Tuesday, for example, the exchange matched over 22 billion traded contracts in a 24 hour period, with a notional value of $147 billion. But unfortunately, the contest itself has ended up being hijacked by cheaters using bots to make sure they bag the top prizes to the detriment of our honest traders. The chart below illustrates the extent of the problem, and how a genuine trader participating in manual transactions wouldn't stand a chance of matching the volume that a bot can. |
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Rather than spend precious time and developer resources attempting to fix the issue, we've decided to suspend all prizes for the Trading Battle, enabling us to double down on the efforts building up to the launch. We're pleased to say that the decision has been extremely well-received by our beta testing community, as you can see below. |
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The suspension of prizes shouldn't detract from the achievements of our genuine winners, who have been instrumental in helping to test the platform ahead of the live launch. So a massive shoutout goes to this week's spotlight winner, Sniper Trades. Our Wednesday blog post covers his top trading tips, his thoughts on the beta, and why he's always believed that Digitex is a "diamond in the rough."
Speaking of trading tips, our resident trading expert Dave Reiter has been trading BTC futures since 2017 and is a technical analysis (TA) wizard. While TA can appear complicated to a beginner, Dave's a firm believer that simple is best when it comes to trading strategies. So, he's put together a detailed article with a breakdown of some tried-and-tested strategies that will maximize the opportunity for profitable trading.
Finally, we have a development update straight from the horse's mouth (so to speak)! Our team leader, Katerina Troshina shares the latest news from the team building the #DFE in an interview for the Digitex blog. In it, you can find out what the developers are working on in the run-up to mainnet launch, the status of the new UI, and a few more technical details besides. |
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That brings us to the end of another eventful week for Digitex! Building a revolutionary zero-fee futures exchange is always anything but boring. And we expect that things will only get more lively as we draw ever closer to the launch date on April 27! |
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