What a week its been for exchange news as Digitex Futures Exchange has announced the date of its testnet launch, which is scheduled for 30th November.
According to SmartDec the development partner testnet will be the first step towards “the world’s first zero-commission cryptocurrency futures trading platform.”.
Interestingly, instead of settling in cash or bitcoins, the new platform takes the unique approach of settling in tokens. The DGTX token will be used to trade BTCUSD futures contracts, removing the need for any maker or taker fees. There will be no percentage-based fee is taken on exchanges, with operating costs instead of being covered by the value of DGTX token. DGTX will act as “the passport to using the exchange,” with all transactions and account balances on the Digitex platform denominated in DGTX.
So in theory “For the first time ever, traders get the real-time trading benefits of a centralized exchange with the security benefits of a decentralized exchange.”. This is also a ploy for the DGTX token to grow in value as it will need to be used. On the plus side for the more aggressive trader, 100x leverage will be available.