The Digitex Futures (DGTX) token is an exchange token for the Digitex Futures exchange. The token was launched in 2018, and has many of the benefits that exchange tokens provide to users in order to incentivize them to use the exchange.
Digitex Futures allows users to bet against the future price of Bitcoin. The DGTX token is the central currency in this trading process, as account balances are represented by DGTX tokens, and DGTX tokens are won or lost in trades. The requirement to use DGTX tokens create an increasing demand for it. The exchange is also transitioning towards a Decentralized Autonomous Organization (DAO) model, where DGTX holders become the governors of the exchange.
Other key features of Digitex are that there is no trading fees, it is non-custodial, has automated market makers, features high leverages, and settles trades on-chain.
The exchange is also implementing the Plasma Network, a second layer scaling solution that is receiving much attention in 2019. The team has said that they are working closely with the Ethereum Foundation on this, and that its own developers have achieved 25,000 transactions per second.
The first two quarters of 2019 have focused on getting the DGTX token listed on exchanges, marketing efforts and general expansion, like the creation of a Russian website. More importantly, however, they worked on the first public version of Digitex. The team is expected to launch its network on the Ethereum testnet on November 30, 2019.
In the last two quarters of 2019, the team hopes to launch a fully non-custodial and commission-free version of the exchange. A mobile app version of the exchange is also expected.