Blockchain startup Digitex Futures is looking to leverage on the existing futures market gap in terms of security and trading fees by launching a secure commission-free platform incorporating both crypto and traditional futures.
The startup has made an interesting observation in the market that regulated exchanges that appeal to a majority of retail investors offer great security but charge a high commission. On the other hand, small-scale platforms charge less trading commission but compromise security.
However, With Digitex Futures, the firm plans charge zero commission for trading while beefing up security and by so doing appealing to clients from all divides.
The crypto space has since inception been hackers’ haven, and an exchange providing industry-grade security while charging no commission will sure attract users.
Digitex Futures has reported that a huge pool of prospects awaits the launch of their new site stating that its Digitex Telegram Channel already has an active membership of 65,000 individuals.
Additionally, the company announced that as of February this year, about 1 million users had already registered on their waitlist. Because of the platform’s high demand, they are ready to have the platform go live on April 30.
According to a statement by the startup, “Digitex aims to hit the sweet spot by optimizing all the features a trader needs. The company will provide automated market makers, an easy-to-use, one-click trading user interface, assured liquidity through high demand and zero trading fees.”
As earlier mentioned, Digitex plans to disrupt the norm in the futures space by offering traditional futures market alongside crypto futures. The platform will support an array of crypto futures for coins like Bitcoin (BTC), Litecoin (LTC) and Ethereum (ETC) as well as mainstream traditional futures including and not limited to forex, precious metals, commodities, and indexes.
By the third quarter of the year, the company plans to add stocks to the platform as well as adding futures for other performing cryptocurrencies. In the second half of 2019, Spot markets enthusiasts will also trade in the platform.
Digitex is built on the Ethereum blockchain and as such plans to implement Ethereum’s scaling solution, the Plasma protocol when it’s launched probably in the 3rd quarter. According to the protocol, the platform won’t hold users’ funds; instead, the funds will be held in a smart contract programmed on Ethereum blockchain.
Despite charging zero fees, the platform will profit from selling its native token DGTX through the Digitex treasury and the company’s partners.