Digitex Proposes the Idea of Token Burning 

Following last week's DAO announcement, CEO Adam Todd introduces the Token Burning system into the tokenomics of the Digitex Futures exchange. This is currently a proposal, and whether or not it is implemented will depend on the response from the community. We will post more information later this week that contains details about how such proposals will be submitted and voted on when Digitex becomes a DAO.  

The Concept:

The Liquidation Engine of the Digitex Futures exchange penalizes highly leveraged traders that allow their account balance to drop below the required Maintenance Margin amount needed to maintain their open position, thus forcing the exchange to take over their position and liquidate it. When force liquidating a position, the exchange stops out the trader at his bankruptcy price as if he lost his entire Initial Margin, but it is probable that the exchange gets a better price. All additional funds made when the exchange gets a better price are deposited into an Insurance Fund. The entire balance of the Insurance Fund is burned every night at midnight UTC. 

Adam goes on to explain the Token Burning concept in his latest video update. For the full breakdown of the mechanics, continue reading today's post on the link below. 

Is these a GOOD idea or aBADF move for digitex FUTURE???

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