Digitex about to launch its zero-fee BTC futures exchange
- Digitex Futures is finally preparing for an official launch of its zero-fee Bitcoin futures exchange that has been in development since 2018.
- The project will require users to buy their DGTX token to participate, which will create a constant demand and allow the team to eliminate the fees.
- Apart from that, traders will also see the first case of the traditional futures trading ladder in the crypto industry.
With commission-free trading being the biggest crypto trend in the last several months, numerous exchanges are announcing that they too will join the movement. Among them is Digitex Futures, which is about to finally see the launch of its zero-fee BTC futures exchange after more than two years in development.
The launch is expected to take place on April 27th, and it will be a major moment for the project that started as an ICO in early 2018.
Are you looking for fast-news, hot-tips and market analysis? Sign-up for the Invezz newsletter, today.
While the company plans to remove commission from every trade on the platform, all traders on its exchange will have to buy DGTX token in order to take part. The reason for this is simple — all trades are executed in the exchange’s native token, which means that all profits and losses will also be denominated in the DGTX.
Digitex will, therefore, be able to remove the fees due to a constant demand for the token. The beta version is already conducting tests with large volumes, and the company seems to feel rather confident about the product. Its CEO, Adam Todd, stated that the market currently doesn’t have anything similar to their product, and the project has received a lot of positive feedback.
He noted that it was not easy to develop such a solution, and there were numerous issues along the way. However, the beta is receiving great praise, and the company is ready to deliver a game-changing exchange.
The exchange will be the first of its kind
In addition to zero fees, Digitex will also be the first to deliver the traditional futures trading ladder into the crypto trading space. Many view this as the most important part, as it was obviously lacking from the industry until now. Others have praised the project’s unique interface and its user-friendliness.
The project will also make sure that the mainnet launch goes off without any issues by making the onboarding a slow, gradual process. As a result, developers will be able to monitor the platform and make sure that it has no accompanying issues. However, the tests so far are very encouraging, and the team does not expect complications.