(From Website) AMERICANS CAN NOT PARTICIPATE
A commission-free, trustless futures exchange for trading digital currency prices
Futures markets give traders the opportunity to trade prices without the high costs and risks of transferring, storing and paying in full for the actual underlying instrument on whose price they are trading. Whether on soybeans, gold, government bonds or Bitcoins, futures markets are a valuable financial tool for facilitating price trading by reducing friction and costs.
But despite lower costs, transaction fees are still significant on high volume, low profit margin futures trading strategies. They act as a massive brake on the potential liquidity of futures markets by converting marginally profitable strategies into losing strategies after commissions.
Transaction fees are eliminated on the Digitex Futures Exchange by creating an Ethereum based token, called the DGTX token, and using it as the native currency of the exchange. All profits, losses, margin requirements and account balances are denominated in DGTX tokens, meaning that traders must own DGTX tokens to participate in the commission-free, trustless markets on Digitex. This creates demand for DGTX tokens from traders, enabling the exchange to replace revenue generation from transaction fees by creating and selling a small number of new DGTX tokens each year.
Instead of penalizing active traders for providing liquidity, this brand new revenue model imposes a small inflationary cost on all token holders on the understanding that commission-free and liquid markets will create demand for the DGTX token from traders that is greater than the inflationary cost of funding the exchange.
Another boost to liquidity will come from the trustless nature of the Digitex Futures Exchange. Unlike other futures exchanges, traders on Digitex will be able to trade without having to trust the exchange with their money. Account balances are held by a decentralized, independent smart contract on the Ethereum blockchain, not by the exchange. The exchange informs the account balance smart contract of a trader’s outstanding margin liabilities and trading profits/losses, thus keeping his account balance up to date, but the exchange does not have physical possession of the funds and at no point does the exchange hold anyone’s private keys.
New token issuance is done democratically by all DGTX token owners using Decentralized Governance by Blockchain. They will collectively decide how many new tokens to issue and when, in order to cover the operational costs of running the exchange. Maintaining the futures exchange is in the best interests of all DGTX token owners because the exchange creates demand for the DGTX token and gives the token its utility and value.
Refer your friends to the DGTX token sale and we'll pay you 30% of whatever they spend. Your 30% referral payout will be in ETH.