After a number of challenges including two very public launch delays, Digitex Futures has recently announced the launch of its Testnet on 30th November. We review their journey so far and consider if the best is yet to come for this innovative crypto exchange startup.
An Eventful Journey to Date
Like many crypto-based projects, the road to a public launch has been less than simple for Digitex Futures. After an ICO 16 months ago in which they raised $5.2 million in just 17 minutes, the project has seen both significant interest, speculation and delays. Much of this has been dramatically reflected in its native exchange token (DGTX), with some truly meteoric moves, including 1500% price increases to an 80% single-day loss.
The idea driving this speculation is the brainchild of Adam Todd, a charismatic, skateboarding former Pit & Sports trader who is now the Digitex Futures CEO. It was in his early days as a short-term trader that the original idea took root. Often finding that commissions would quickly eat into any of his profits, he dreamed of creating an environment in which traders could buy and sell commission-free. He commented:
“As a short-term trader, my profits were killed by commissions, so I’ve always had it in mind that I wanted to create a commission-free, tight spread trading platform that had no edge working against traders. When I discovered Ethereum and its ability to mint your own currency, the idea for Digitex Futures became something that was entirely possible.”
His journey to date as the Digitex Futures CEO has been characterized by brutal honesty, drive, and determination. It’s perhaps understandable that after overseeing two significant launch delays and the retooling of three development teams that Adam has suggested that
“what doesn’t kill you makes you stronger.”
Of course, while this remains to be seen, the appointment of cybersecurity and smart contract auditing experts, SmartDec in May and the recent interest for 30 Nov Testnet launch certainly seem to suggest Digitex Futures is a project and team that is back on track.
Returning Investor Confidence
Perhaps understandably for a project that has had two major delays, the recent Testnet launch date has been met with a fairly muted market reaction. However, reviewing the latest SmartDec development report shows the crypto startup is putting in solid and reliable groundwork on their platform. Since May, there have been consistent bi-weekly development reports detailing exchange progress and this appears to have been vital for the project.
Adam recently mentioned of SmartDec.
“We have worked with them previously, through the creation of our Digitex Treasury and the auditing of our smart contracts. These guys have always been faultless, always delivering a great product on time. When they approached us l to help with the exchange it was a no-brainer”
So far, Adam’s faith appears to be paying off. After a long period in the doldrums since the April delay, t investor confidence seems to be returning to the project directly translating into an increasing DGTX token price.
If the historical delays can be consigned to the past, then Digitex Futures has the potential to make a big impact within the crypto exchange space, and perhaps, beyond. Here are some key moments to look out for in the near term:
- With the Testnet set for the 30th November, any previews such as screenshots or video demos of the platform could see a dramatic uptick in project interest.
- SmartDec and Digitex Futures have stated that early testers will be invited to try the platform out. News of this will almost certainly drive positive sentiment.
- SmartDec suggested progress could be better than expected. If this does happen, then expect a strong surge of positive interest.
Make no mistake, Digitex Futures has everything to prove (especially when it comes to sticking with delivery dates). However, with effective and talented developers now on board, combined with consistent bi-weekly technical updates, the evidence is building around the project, suggesting that it is now back on track and ready to fulfill on its promise. If that does happen, then DGTX’s future is a very bright one indeed.
Digitex Futures has reopened its massive waitlist competition. So, if you haven’t signed up yet, be sure you do at the Digitex Waitlist here. Over five localized campaigns, those who refer the most people to the platform can win as much as 100K DGTX for their referrals in a massive 5 million DGTX giveaway.