There’s nothing cryptic about this crypto start up. Digitex Futures looks primed to make a huge impact with commission free futures trading.

Luke Green

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A bit of backstory…

After trading Bitcoin Futures during the 2017 Bitcoin bull run, in which I managed to make a profit (more on this later) I began scouting around for interesting projects in the blockchain space. I resolved to focus only on those with real world utility and a business model I could understand.

As a result I picked four key start ups to invest in; Power Ledger, Basic Attention Token, the Coinmetro ICO and a bit of a wild card ICO, Digitex Futures.

Digitex it’s fair to say, was in it’s embryonic stage at the time I read the white paper. However after watching it’s charismatic talisman Adam Todd enthuse about the ladder trading interface, I have to say, I was entirely sold in. Over the next few days the idea kept churning around in my mind, I started getting excited about being involved at the very ground floor of something disruptive, but to take part, I’d have to negotiate my first ICO…

The ICO…

If you haven’t taken part in an ICO then I can attest, it’s one hell of an experience. It’s a bit like that scene from Swordfish. You effectively sit staring at a web page countdown waiting for a random string of numbers and letters to appear, in full knowledge that perhaps millions of other people are doing the exact same thing. The moment it appears, you all feverishly scramble to send your cryptocurrency (in this case Ethereum) as fast as you can, literally into the Ether, to a “smart contract” that you pray you got correct, whilst e’ffing and j’effing about random things like setting the correct GAS and GWEI.

I actually had to take an afternoon off work to give this the focus and effort it needed, I sweated.

After all the emotion it was great to see I had been successful, and the “smart contract” duly sent back my freshly minted DGTX tokens to my wallet.

Such was the popularity of the concept that it sold out in literally 17 minutes raising just over $5million. This I learnt was by ICO standards small change but I was astounded at the speed and velocity that money and funds could be raised in this way.

So, the concept…

Digitex is going to be a Commission Free Futures exchange and it works as follows… First you buy and own DGTX by swapping Ethereum and Bitcoin for DGTX tokens. The token then allows you via the Digitex trading interface to simply bet on whether Litecoin, Bitcoin or Ethereum is going to go up or down in price from now. If you guess it right you make more DGTX tokens, if you get it wrong you loose them. Still with me? good.

So why is this groundbreaking you might ask, well the clever bit is how the exchange makes money to keep the bills paid and the lights on. Rather than the currently accepted way of charging a fee on each bet, which you have to pay regardless of whether you win or loose, you get to make your bets for free. The business will ask DGTX token holders for permission to create extra tokens to cover costs.

But Aha! I hear you say, isn’t this like quantitive easing or printing money, it’s just as bad as the Bank of England and surely the token is going to get devalued by inflation?

The answer is kinda, well, a bit of both, it’s a yes and a no. It’s a pretty ingenious concept and works as follows. Since the token is required for trading, it will be in demand, demand will grow the token price. Holders of the token will be willing to trade a fall in price (which is likely to be in real terms just 1–2%) since it will allow the platform to continue to trade, launch new products and in turn increase demand for the token, thus again increasing it’s price.

What you end up with, is business governance by blockchain and a truly decentralised trust less system that is likely to the be the template of modern businesses and perhaps even politics and voting in the future.

The opportunity…

I don’t recommend investments in crypto, it’s just too volatile for most people, so to be clear I won’t be recommending this one to you. What I will say is the potential upside to buying and holding DGTX is massive. As of writing this, the token is still at a crazy low price, so you can still chuck in small change and enjoy the ride and potential gains without worry.

But what kind of ride are we talking about here? especially if the token price is going to be driven by demand. Well if we take the current market leader Bitmex, a mega ‘unicorn’ business that literally didn’t exist a year ago (and incidentally charges fee’s on every trade) as one indicator of potential demand, we can see they currently process well in excess of $2bln in trade volume every 24hrs, yes I did just say $2bln!

How do you think traders will react to being able to trade without any fees?

Well like I mentioned at the beginning in my brief experience as a future trader, fees are a real pain the arse. They require you to stay in a trade longer before you start to make money, increasing your risk and creaming your profits whilst also adding to your losses, in short they suck. Traders are going to go (and pardon the language here) bat shit crazy for this. Especially as they will be able to enter and exit trades quickly and without fees.

So when you combine a highly marketable concept, a huge addressable market, a very transparent team, with great marketing chops and an idea that’s going to completely upend and revolutionise the Futures Market. I’ll go as far to say that Digitex Futures looks set to become the next unicorn business that no one’s heard of outside of Crypto until Adam appears beaming and swearing his way through a CNBC appearance.

To the moon!

Thanks for reading…

If you want to learn more about this ridiculously exciting project you can do that here and make sure you sign up for the early access program here.

Oh, and make sure you give us a clap or 50!

As a little disclaimer, I’m of course invested in this project and will be moved up the waitlist for early access if you sign up to the early access program via my link.

Luke Green

Written by

Surviving at the intersection of the past, present and future, interested in everything, erm, well… interesting.

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