On Friday, August 23, Digitex announced the launch date of its upcoming Testnet. Beginning on November 30, the public will be able to test out the new futures trading platform starting with one market, a DGTX-funded perpetual swap BTCUSD contract.
Zero-Fee Futures Trading
The new platform, co-developed by SmartDec, has a few features that are different from previously-launched cryptocurrency futures exchanges. Fee structure is a key area where Digitex is trying to be different from the competition.
Similar platforms generate revenue by charging users for each side of a trade. On the Digitex trading platform, there will be zero fees for both market makers and market takers.
It has become common for cryptocurrency exchanges to have their own tokens to simplify on-platform trading. However, major futures exchanges typically require traders to pay with one part of the trading pair. For instance, BTCUSD futures contracts are paid with BTC deposits.
Digitex is different in that it will require users to trade exclusively with Digitex Futures (DGTX) tokens. Prices on trades and wallet balances will also be shown in the equivalent value of DGTX.
One-Click-Trading Ladder Interface
The Digitex Futures exchange will allow traders to really get in the zone when trading futures contracts. By making use of a one-click trading ladder interface, in markets where speed is of the essence, traders won’t have to take the extra steps to use a keyboard, but can literally see the bids and offers going up and down on both sides of the ladder and place trades with a single mouse click.
This will revolutionize the way that people trade for good and mark a first for the cryptocurrency futures industry.