The Digitex Futures Treasury Update

mixed reactions when we announced the Digitex Treasury.

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JuiceStorm.com supported Adam Todd and the Digitex Futures since before the ICO on January 15th 2018. Support for the Digitex Futures was withdrawn 4th August 2020.

What Is the Digitex Treasury and Why the Need?

Most of you already know about the Digitex Treasury and what it’s for. But for new visitors to our website, here’s a quick recap. The Digitex Treasury is our answer to the question of how we continue to fund our commission-free exchange well into the future.

Since the initial launch, our plans have become more ambitious. Rather than offer just BTC, LTC, and ETH futures, we’re now offering traditional futures markets as well such as commodities, Forex, indices, stocks, and metals. We’re also providing advanced trading tools and charting, a mobile app, and a platform available in 23 different languages from launch.

We’re busy integrating Plasma technology into the backend to roll out non-custodial accounts for all users from quarter three and will be offering commission-free spot trading at that time as well.

Digitex recently partnered with Spotware, the makers of cTrader, one of the world’s most popular Forex trading platforms. And our Moscow-based partners SmartDec recently won a hackathon in Paris. All these exciting features, developments, and partnerships with the world’s best talent come at a cost.

Many cryptocurrency companies have failed. We’re not just talking about last year’s ICO projects that ran out of funds before delivery. Look no further than the NEM blockchain project that’s been around since 2015. They came to within an inch of bankruptcy earlier this year caused by irresponsible management of funds.

Taking the decision to get the maximum value from our tokens we, therefore, decided to lock away 10% (100 million) of our initial supply of DGTX into a smart contract–called the Digitex Treasury.

Starting from 1st March 2019 (just a little less than three weeks ago!) 10 million tokens are released every quarter for the next two and a half years for public sale.

Transparent and Sustainable Funding into the Future

One thing that Digitex has proven time after time is that there’s a clear demand for commission-free futures trading. Our January 2018 ICO sold out in 17 minutes. We now have more than 1.1 million signed up to our public launch waitlist, and our community is growing by the day with a Telegram group some 70K strong!

But we have to be realistic. Just like any startup obtaining funding in seed rounds for continued development, we need to do the same if we’re truly going to topple BitMEX and take on the likes of OKEx.

A lot of people have legitimately asked, if there’s such high demand for your product, why not reach out to large investors? The answer to that is simple. Again, taking lessons from other projects in the industry, we never want the DGTX token price to be at the mercy of a few powerful investors.

EOS, for example, may go down as the largest and most successful ICO in history, and it’s comfortable in the top 10 cryptocurrencies by market cap. But according to Bloomberg, just 10 mega crypto whales control a whopping 50% of the tokens in circulation. If one or all decide to dump, EOS price will be wrecked for everyone.

The Digitex Treasury allows everyone to see how many tokens are sold in a transparent way, without worrying about the undue influence of a few investors. In fact, we even set a cap at $50,000 on the number of tokens that anyone can buy in a single transaction. This is both anti-whales and a fairer way of seeking sustainable funds for all the Digitex community.

How to Buy from the Digitex Treasury

It’s easy to buy DGTX tokens direct from the Digitex Treasury. Since we’re conscious of the fact that we don’t want anyone dumping tokens on exchanges and hurting the token price, we’re selling them at a slight premium on the market price. We’ll never under-cut our exchange partners and the price will always be a couple of decimal points higher.

We know that this means not everyone will want to buy from the Treasury. After all, if you’re looking for a small number of DGTX and are already used to working with an exchange, it may not be the right choice for you. But if you want to avoid the hassle of signing up to an exchange while directly supporting the project at the same time, the Treasury is for you. You’ll get an instant, trustless transaction straight into your wallet.

In under three weeks, we’re pleased to say the Treasury sales are advancing nicely. We’ve sold around 3.5 million tokens, about one-third of the entire volume, even in a continuing bear market.

This shows that it’s a concept that can work and is attractive to investors who are willing to pay a small premium to deal directly with us.

Digitex Is Leading the Way in the Industry

When you keep the examples of EOS and NEM in mind, we’re pleased to have found a responsible, anti-whale way of funding Digitex. When the token sales started, the Treasury even had the effect of driving the DGTX price up, being set above market value!

We know that this may not always be the case, however. The markets are prone to fluctuations. This is what makes the slow and steady release of tokens such a viable model for us–and any cryptocurrency company, for that matter.

We have no intention of selling our tokens for a low value and will not match the market price if it experiences a sudden drop. This will allow us to capitalize as much from the sales as possible and get maximum value for our tokens. The constant and steady pace also allows us to benefit when the price increases.

The Treasury is completely transparent. The community knows when and how many tokens will be released and at what price.

We’re showing the rest of the community that this is a workable and responsible way to ensure the longevity of their projects without dumping tokens or relying on whales.