2 tháng 10, 2020

Another Rollercoaster Week for Digitex

As a tech startup, Digitex is used to riding the entrepreneurial rollercoaster, but this week has been a heck of a ride by any measure. Let's start with the good news - we've been able to keep the focus on development efforts and have rolled out several important updates on the exchange. 

 

The development team has been as reliable as ever in their tireless efforts to deliver on our 2020 roadmap. Following community feedback, we had been testing out a $1 tick size on the BTC markets on testnet. We're pleased to confirm that it went live on Wednesday, along with an increase to 100x leverage.

 

The effect was immediate - traders love the increased volatility of the $1 ladder, and liquidity on the exchange went through the roof. Hardly surprising when you consider the price of BTC is showing uncharacteristic stability over the last few weeks. However, we've also preserved the $5 ladder for those who prefer it, and for those times when the BTC prices start to behave unpredictably once again.

First Look at Self-Programmable Bots

Later in the week, we unveiled a sneak peek at the user-programmable bots that are currently in development. In screenshots shared by the team, you can see that traders will be able to configure bots to automate much of their activity on the exchange. There will also be the opportunity to implement a hybrid manual/bot-enabled strategy, offering full flexibility to any trading style. 


The massive advantage of this feature is the boost to liquidity that it will bring. Traders will be able to keep placing orders 24/7 with bots, keeping liquidity pumping around the clock. Check out the blog post to see all the details of what's to come.

Update Following Friday's Exchange Outage

On Thursday, the DFE unfortunately, experienced a temporary outage. The precise reason for this was due to an issue with the market makers, which flooded the exchange with messages similar to a denial-of-service attack. 

 

Of course, we will refund any users who got liquidated as a result of the outage itself. If you believe you were affected, please contact support and let them know. 

 

However, the issue has highlighted that we are currently putting a lot of pressure on the development team to deliver rapid-fire updates. In turn, this rapid development is creating undetected vulnerabilities in the platform. Therefore, we're putting a temporary hiatus on further updates until the development team can conduct a full assessment. Read the full details on our Friday blog post. 

 

Finally, the KuCoin hack has been the headline news in the crypto press this week. We know that our DGTX holders on KuCoin have been affected by the hack, and KuCoin has promised that everyone will be reimbursed. We're also still exploring the options for replacing the lost tokens, but as things stand, we can't confirm a concrete solution. 

 

We can assure you that we're in active discussions with the team at KuCoin and will update as soon as there's a solution in place. If you're one of those affected, we thank you for your patience while the issue is ongoing.

Digitex in the Press

Coming back to more positive news again, this week, Digitex was featured in a piece on Fintech Futures about the digital transformation efforts of some of the world's biggest companies. Adam contributed an expert quote for the piece, explaining the importance of building bridges between traditional finance and cryptocurrency service providers. This area is making progress, even at a somewhat glacial pace. Read the full piece on the Fintech Futures website.

As always, life in a growing tech startup continues to be far from dull! This week has been challenging, but we're forging ahead and remain committed to our vision of making Digitex one of the top crypto firms in the space. 

 

Thanks for sticking with us as we grow and improve.

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