| | This week, we have lots of big news – a successful token swap to ERC20, a brand-new listing on the world's biggest DEX, Uniswap, and a DeFi-based rewards system coming soon. A few weeks ago, the KuCoin hack caused shockwaves in the crypto world. At the time, we asked for your patience while we worked with KuCoin on the options for reinstating nearly 100 million DGTX tokens stolen in the hack. We had previously announced our intention to swap DGTX from being an ERC223 token to an ERC20. In light of the need to reinstate the stolen DGTX, we decided to bring forward the swap, which was successfully implemented on Wednesday. KuCoin is in the process of restoring DGTX balances to their rightful owners, and all our other exchange partners have updated to the new DGTX token contract. If you HODL DGTX in your own wallet, your tokens will now be ERC20 tokens. And of course, the ERC20 token is now effective on the Digitex exchange and the Treasury. All old ERC223 tokens are now obsolete. The great news is that our sterling development team has managed to pull off the token swap without any impact on our overall roadmap.
If you still have questions, check out our Wednesday announcement in full.
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DGTX-ETH pair now listed on Uniswap |
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When we decided to swap DGTX into an ERC20 token, one of the drivers was that we could get listed on decentralized exchanges such as Uniswap.
If the 2020 DeFi craze has somehow passed you by, then it's fair to say that Uniswap has had a stellar few months. It's currently occupying the top spot for total value locked according to the DeFi Pulse rankings, outstripping the nearest competitor Maker by a whopping $800 million. In September, the total volume traded on Uniswap was higher than on Coinbase.
So, a happy side effect of accelerating the swap of DGTX to an ERC20 token is that we now have a brand-new listing on Uniswap. The DGTX-ETH pair is already live and open for trading. As a highly liquid decentralized exchange using automated liquidity pools rather than an order book, the listing is fantastic news for DGTX liquidity. Read our full announcement on Thursday's blog post. |
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DGTX rewards program for Uniswap Liquidity coming soon |
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Another huge announcement this week is the news that, following on from the Uniswap listing, we will be launching a rewards program linked to DGTX liquidity on the Uniswap exchange. This move provides DGTX holders an opportunity to earn rewards for contributing liquidity to the DGTX-ETH pair on Uniswap, and participate in the DeFi economy in a safe way.
The launch will come in mid-November, and we're setting aside a massive 5 million DGTX for the first month of rewards, offering some of the best returns in the industry. We want to incentivize as much participation as possible, which will help to drive demand for DGTX. To find out more about how you can claim your share, check out our Friday blog post. |
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Market-making madness continues |
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It started out as Monday Madness, but our market-making liquidity fests have proven to be such a hit with traders, we've decided to keep it going! After another successful event where we configured the market makers to lose one million DGTX, the volume on the Digitex exchange was going wild. Traders churned over $660 million through the $1 and $5 BTCUSD markets in just 24 hours.
So another big announcement of the week was that we've decided the market-making madness is here to stay - and it's about to get even bigger. Starting from Sunday, October 18 until Saturday, October 24, traders can battle it out to win their share of 1.4 million DGTX-worth of market maker losses.
Each day, the market makers will be programmed to lose 200,000 DGTX every day for four hours between 13:00 and 17:00 UTC. There will be an equal split between the $1 and $5 BTCUSD markets, so make sure you're on the exchange during these times and have your account loaded up with DGTX to be in with a chance of taking your share.
Giving away 1.4 million DGTX this coming week is a small price to pay for the vastly increased liquidity that carries through as scalpers get the taste for winning trades. Read all the details of the Week of Madness over on the blog. |
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That's it for another week of news from Digitex. Traders - don't forget to make sure you're online on the Digitex mainnet from 13:00 UTC on Sunday for the kick-off of our week of market-making madness. To all our supporters - thanks as always for sticking with us, and we'll be back with lots more news and updates next week. |
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