| | In case you missed it, this week, we published our most significant announcement since the live launch - the plans to expand Digitex from a futures exchange to an entire virtual city.
The Digitex City white paper was finally released on Monday, and we've been delighted with the reception so far. Digitex City will comprise a full-featured exchange with futures, spot and spot markets, a social platform, casino, poker room, esports betting exchange, and more - all zero-fee, and all powered by DGTX.
Since we unveiled the Digitex City white paper on Monday, we've had a barrage of questions from our community. Understandably, many of them are around the timelines. Of course, we were already on a critical path for the remainder of 2020, involving expanding the DFE into more markets, launching a spot exchange, and upgrading the user interface to support multiple ladders. We remain committed to that plan.
However, we've also confirmed with the developers that some of the core functionality around Digitex City will be rolled out as early as December! By the end of this year, we'll have launched the DUSD stablecoin, along with the DGTX Staking program, designed to lock up the circulating supply of DGTX and thus increase its value.
If you're wondering how we're able to commit to such an ambitious timeline, then it's worth bearing in mind that some features, such as the spot markets and social platform, have already been in development for many months now. Read the full details of the implementation plan on Thursday's blog post.
On Friday, Adam took to YouTube for one of his regular AMA sessions to answer some of the other questions we've had from the community. You can rewatch the live stream on YouTube to find out what he had to say, or check out our Friday blog post. |
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DGTX staking - all you need to know |
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With so much going on around the plan for Digitex City, it's a wonder we managed to fit anything else in this week. But on Tuesday, we published an extensive post on the blog outlining all the plans we've made to introduce the DGTX Staking Program.
The headline is that we've already opened up a staking wallet for the accrual of staking rewards and deposited the first $100,000 USDC into it. For now, rewards will be funded from system gains made from liquidations on the DFE and denominated in USDC. Once we launch Digitex City, rewards will be calculated in DUSD and will receive a significant boost from advertising revenues on the social platform and from early next year, the Playhouse site.
And the most exciting part? Based on current estimates, stakers of DGTX will be able to reap returns of around 16-18% APR by the end of 2021. Once we start onboarding users to Digitex City, there's the strong potential for even higher returns from products which will be generating revenues.
Staking is a key component of our plan to drive DGTX up to $1, by creating demand for staking rewards, at the same time as constricting supply. It's in our best interest to make this program as attractive as possible before we invite our HODLers to participate in staking.
However, the outlook seems bullish with our supporters indicating high participation. We ran a poll this week, and the majority of the Digitex community believes that staking will attract between 150-350 million DGTX, locking up close to 30% of the total supply.
Read all the details about what to expect from staking, over on the blog. |
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Watch ETHUSD trading in action with Cryptrader |
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Last week, we launched a second futures market, ETHUSD, so on Wednesday, Cryptrader was back with one of his educational videos explaining all the details.
If you're used to trading BTCUSD contracts on the DFE, then you'll be used to certain tick sizes and contract values, while the ETHUSD market has some differences. In this informative video, Cryptrader explains what changes to watch out for with the ETH contracts, and how to accommodate these changes into your trading strategy. Check it out on the blog. |
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All the news surrounding our recent developments have caught the attention of the crypto press this week. First up was Coinrivet, leading with the news on Monday that we're now offering zero-fee trading on the ETHUSD markets. The piece went into more detail about our roadmap progress and plans for the white paper.
By Tuesday, the Digitex City story made it to Bitcoinist, which covered our "crypto's playground" white paper in detail, including the launch of the DUSD stablecoin. The piece went into some depth around how Digitex City will drive the value of DGTX with the dual strategy of pushing demand while constricting supply.
Finally, NewsBTC was hot on the story of the DGTX Staking Program, picking up on the fact that we've already made the first deposit into the staking wallet and deep-diving into the kind of returns that stakers can expect within the first year. |
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So, as you can see, we're making good on our promise to deliver plans to drive demand for DGTX! Adam has committed to delivering a $1 token, and although we have plenty of work to get there, this is a man who has proven relentless in his drive to achieve his promises. So stick with Digitex, because we're in it for the long game. |
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