Meet The Man Who’s Building A Commission-Free ‘BitMEX’ [Interview]

THELOGICALINDIAN - Bitcoinist batten with Adam Todd CEO of Digitex Futures a trading belvedere that aims to become a commissionfree noncustodial BitMEX for cryptocurrencies congenital on Ethereum

Bitcoinist: What is Digitex Futures? What are you accomplishing that’s different/new? Can you accord us your elevator pitch?

Adam Todd: Digitex Futures is a commission-free, non-custodial futures exchange. Traders can brainstorm on the amount of Bitcoin whilst advantageous aught transaction fees on their trades and after accepting to assurance the barter with their money. The barter has its own built-in cryptocurrency, alleged the DGTX token, in which all annual balances and trading profits and losses are denominated.

Traders must, therefore, own the DGTX badge [coin_price coin=digitex-futures] to participate, so a active barter that attracts bags of traders will actualize aerial appeal for the DGTX token. The barter covers its costs by creating a baby cardinal of new tokens anniversary year and affairs them in scheduled, public, cellophane badge sales.

This badge arising arrangement is absolute democratically by all DGTX badge owners. As a amalgam exchange, Digitex combines the acceleration and believability of a centralized adjustment analogous agent with the arguable aegis of decentralized annual balances. For the aboriginal time, traders can adore real-time, on-chain futures trading in a zero-fee, arguable environment.

Bitcoinist: Can you accord us the numbers? What’s your badge allocation, bazaar cap, etc?

Adam Todd: There is a absolute apportionment of one billion DGTX tokens. Last ages we bankrupt into the top 100 cryptocurrencies account on Coin Market Cap back the amount of DGTX accomplished a new ATH of $0.16 from an ICO barrage amount of $0.01 beforehand this year.

In the best barbarous buck bazaar on almanac for the all-embracing crypto market, our bazaar cap went from aught at the alpha of this year to $160 actor in October, bearing over 100x allotment adjoin ETH for our aboriginal ICO buyers.

Bitcoinist: Your Beta barrage is slated for a few weeks away. How do you ahead establishing arrangement aftereffect fast and ensuring a aqueous barter for traders?

Adam Todd: We’ve already congenital the arrangement aftereffect with the world’s busiest Telegram accumulation and over bisected a actor bodies active up to our official waitlist. The botheration we accept with our barrage is how to handle the arduous aggregate of traders who appetite to participate.

Bitcoinist: What blazon of banker are you advised for? Who will use your exchange?

Adam Todd: The Digitex Futures barter will be adorable to altered types of traders for capricious altered reasons. For instance, aught trading fees and a one-click ladder trading interface will be actual adorable to concise scalpers who will be able to abode hundreds of trades per hour and still accomplish a profit.

The clamminess created by these short-term, awful alive traders will, in turn, allure longer-term drive traders who will be able to abode ample trades with little to no slippage.

Other traders will be admiring to actuality able to barter on the barter after accepting to assurance us with captivation their money, defended in the ability they can instantly abjure their funds at any time for any reason.

Bitcoinist: You are alive on actuality a amalgam and non-custodial exchange. Can you acquaint us added about that and how it works?

Adam Todd: Digitex will be a amalgam barter that combines the best genitalia of centralized and decentralized technologies. It combines the acceleration and believability of a centralized adjustment analogous agent with the arguable aegis of decentralized annual balances that are not beneath the ascendancy of the exchange.

Vanbex

Traders accelerate their funds to an absolute acute arrangement on the Ethereum blockchain, not to the exchange. This acute arrangement communicates with the barter in absolute time, allegorical the barter how abundant acclaim the banker is acceptable for, but at no point does the barter absolutely accept control of your clandestine keys.

A congenital artifice blockage acute arrangement monitors the barter for any counterfeit affairs and automatically allotment all traders’ funds if any are found.

This aggregate of real-time, verifiable, on-chain trading after the barter defective to authority any traders clandestine keys has alone aloof become accessible with contempo advances in blockchain ascent technology from the Plasma amount development team, who are now applying their cutting-edge technology to the Digitex exchange.

For the aboriginal time ever, traders will be able to barter in absolute time whilst still accepting all their trades recorded assimilate a absolutely absolute blockchain and eliminating the charge for traders to assurance the barter with their money.

Bitcoinist: And what about the affiliation with Matter Inc? You mentioned that you were amalgam the Plasma Protocol into your exchange, but that’s still some time away, why is that important for Digitex, back can we apprehend it, and what can we apprehend in the meantime?

Adam Todd: Matter Inc are associates of the amount Plasma development aggregation that works carefully with Vitalik Buterin and Joseph Poon to break Ethereum’s accepted ascent issues. They are at the beginning of developing cutting-edge blockchain ascent technology that will assuredly acquiesce cryptocurrency use to accretion accumulation acceptance in the real world, aerial aggregate applications.

We were captivated back Matter abreast us they had aloof accomplished 25,000 affairs per additional with no errors on a absolutely absolute side-chain of the Ethereum capital alternation (expected to be ~65,000 tps actual soon) and that they were accessible to accept this cutting-edge technology to body out the Digitex arrangement of non-custodial annual balances.

The implications of this technology to accumulation acceptance of cryptocurrencies are massive and we are blessed to advertise that we will be authoritative the cipher for our non-custodial annual antithesis arrangement accessible antecedent to do what we can to beforehand blockchain usage. Matter apprehend the antecedent Beta adaptation of our non-custodial annual balances to be accessible in March 2024 with an accepted assembly absolution in Summer 2024.

Until again we will barrage the Digitex Futures Exchange with careful annual balances, aiming to alter them with non-custodial annual balances in Summer of 2024.

Bitcoinist: You were at the Malta Blockchain Summit. Is Digitex attractive to locate to Malta? What would be the capital advantages of this?

Adam Todd: We’ve not fabricated a final accommodation yet but yes Digitex is because relocating to Malta. Malta has developed affable legislation apropos blockchain technology and there are abounding advantages to acceptable a absolutely adapted European futures and atom exchange. The added believability of actuality a accountant EU barter would accommodate accessible allowances and we are currently attractive into the abutting accomplish to authoritative this happen.

Bitcoinist: You’re attractive to go afterwards BitMEX customers. How do you plan to do this? Why will traders appetite to move over to Digitex?

Adam Todd: Digitex is mentioned generally in assorted online trading groups and we are already accepted as a abeyant adversary amidst abounding accepted BitMEX users. We accept a awful affianced association that is alive on abounding of the platforms area BitMEX traders can be found.

We’ve congenital an aboriginal admission waitlist of over bisected a actor bodies and drive and action are architecture as we get nearer to barrage time. Our business campaigns accept been awful able and we apprehend the better botheration to be onboarding the aerial aggregate of traders rather than whether or not we will allure the traders.

Currently, BitMEX traders charge accelerate their trading funds to BitMEX for safe befitting and charge pay affairs fees on trades. On Digitex, those aforementioned traders can buy and advertise with no transaction fees and they will not accept to assurance the barter with their money.

Bitcoinist: You additionally mentioned that you are attractive to accommodate atom trading. Can you busy on that? What will this beggarly for Digitex?

Adam Todd: Digitex will be introducing atom markets in the Summer of 2024 back we go absolutely non-custodial. Traders will be able to buy and advertise tokens with aught trading fees and after accepting to assurance the barter with their money. Instead of advantageous commissions on atom trades, traders charge pale a baby cardinal of DGTX tokens in adjustment to buy and advertise tokens.

Traders can abjure these staked DGTX at any time. This creates appeal for DGTX tokens which enhances the achievement of the badge arising arrangement and allows the atom markets to be operated after charging any trading fees.

Our atom markets will accommodate the bigger genitalia of futures trading, such as our one-click ladder trading interface and a connected beyond beat admeasurement and connected quantities, authoritative atom trading a abundant added acceptable acquaintance for abounding traders than it currently is on best clunky, adamantine to use barter interfaces.

We accept that atom markets will accompany ample numbers of traders into acquaintance with our awful liquid, zero-fee futures markets and the two abandon of the barter will acclaim anniversary added well.

Bitcoinist: So, you accept the accessible barrage abutting and afterwards that, what’s abutting on the roadmap? Are you attractive to get listed on added exchanges?

Adam Todd: There’s a lot planned for this advancing year, such as the about-face over to absolutely non-custodial annual balances, the addition of atom markets, added futures pairs, a adaptable app and abundant more.

We are focused on accepting ample numbers of traders application the barter and accept we can become a top 10 barter by aggregate and by user numbers actual quickly. We will anon be advertisement on Changelly and a brace of added exchanges and will abide to accomplish it easier for bodies to buy DGTX tokens.

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Bitcoinist: And can you allege briefly about the accepted bazaar slump and selloffs? Obviously, that’s afflicted the DGTX, what’s your booty on it and what do you see in the accessible approaching for crypto as a whole?

Adam Todd: 2018 has been a bear market of aberrant proportions, it’s been barbarous from alpha to finish. The affliction of owning cryptocurrency this year has been bound and it’s had a actual abrogating aftereffect on the amount of DGTX. Every time our amount popped up the all-embracing crypto bazaar would accept addition awful blast and we’d get abject bottomward again.

However, the amount of DGTX has still risen by 500% this year, alike afterwards the contempo crashes that saw ETH bead over 90% in amount in the aforementioned period. In accustomed bazaar altitude the amount of DGTX would be abundant college but admitting this, we are still activity able and we are still on clue to absolution a abundant artefact to a actual ample cat-and-mouse account of users.

Digitex is actual committed to a apple area blockchain and cryptocurrency acceptance equals internet acceptance and acceptance today, we aloof charge to get through times like this to get to that promised land.

Is this the aurora of non-custodial exchanges? What do you anticipate of zero-fee trading? Share your thoughts below!

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