Bybit launches BTC Brawl trading competition

Futures trading platform Digitex prepares for public testnet, announces release date

Futures trading platform Digitex prepares for public testnet, announces release date

Digitex, a trading platform for crypto futures contracts, announced today that it will be launching its public testnet on Nov. 30, 2019.

The exchange plans to open their market starting with BTC/USD perpetual swap contracts. According to the exchange website, contracts for additional coins will be added based on user demand.

For market makers and takers, Digitex won’t charge for any transactions. The project plans to cover all operational costs by creating value/demand around the Digitex Futures (DGTX) token. It will do this by minting a small number of tokens each year.

The exchange will launch as a centralized exchange first but will continue to work on providing users with non-custodial (decentralized) accounts. This will allow users to have 100% ownership of their funds at all times while still able to make real-time trades and lightning speed.

Trading On The Testnet

SmartDec, the development firm working with Digitex, is developing and vigorously testing the platform, preparing it for production. On the testnet, the firm says the exchange will be able to handle over 10,000 users trading concurrently and up to 50,000 transactions per second.

A date has not been set for the Digitex platform’s mainnet launch yet, but the project team has said that testnet trading is anticipated to last for two months. After the testnet stage wraps up, Digitex plans to launch on the Ethereum mainnet. At that time, users can trade futures contracts in real-time using DGTX tokens.

2019: The Year of Crypto Futures Trading

As it stands, 2019 is shaping up to be an important year for emerging futures trading platforms in crypto. The launch of Bakkt, another highly-anticipated trading platform, is scheduled for Sept. 23, 2019. Bakkt has garnered a lot of media attention thanks to the establishment of major partnerships and its focus on support for institutional investors.

Digitex is aiming to appeal to a broader range of users and traders. According to the Digitex homepage, the platform has over 1.54 million signups on its waitlist.

Posted In: Altcoins

The above advertisement is an affiliate link. CryptoSlate will earn a small commission if you sign up.

Like what you see? Subscribe to CryptoSlate

Get our daily newsletter containing the top blockchain stories and crypto analysis straight to your inbox.

Sign up to stay informed
Mitchell Moos
Author

Mitchell Moos

Contributing Analyst @ CryptoSlate

Mitchell is a software enthusiast and entrepreneur. His first startup built algorithms for optimizing cryptocurrency mining. Prior to CryptoSlate, Mitchell was a project manager at a firm that built distributed software on Hyperledger. In his spare time he loves playing chess and hiking.

View author profile

Disclaimer: Our writers' opinions are solely their own and do not reflect the opinion of CryptoSlate. None of the information you read on CryptoSlate should be taken as investment advice, nor does CryptoSlate endorse any project that may be mentioned or linked to in this article. Buying and trading cryptocurrencies should be considered a high-risk activity. Please do your own due diligence before taking any action related to content within this article. Finally, CryptoSlate takes no responsibility should you lose money trading cryptocurrencies.