Digitex is a commission-free trustless futures exchange for trading cryptocurrencies’ prices. Futures Exchanges is a marketplace where users can trade various commodities such as futures contracts. Future exchanges seek to facilitate users to trade prices by reducing friction and costs. This platform aims to provide traders the speed and reliability of the futures market’s off-chain price discovery along with the secured on-chain account settlement.

Despite low costs, transaction fees are still high on volume and slow down the potential liquidity of the markets. Liquidity is the easy conversion of an asset into traditional currency without impacting the market price. According to the whitepaper, the Digitex Futures Exchanges has removed the transaction fees to improve the liquidity and cover operational costs by minting its native currency. Minting is a process of producing new tokens through the proof-of-stake protocol. 

The native token of Digitex designates profits, losses, margin requirements, and trading account balances. So, to participate in commission-free trustless markets on Digitex, the traders must own the native token of the platform.

The revenue model of eliminating transaction fees seeks to create demand for tokens from traders. The model also seeks to enable the exchange to replace revenue generation from transaction fees by aiming to create and offer a small number of new tokens each year. The exchange aims to allow traders to trade without trusting the exchange with their currency. 

Digitex aims to be a decentralized, independent, smart contract on the Ethereum blockchain and seeks to hold all the account balances of the traders, not by the exchange. Smart contracts are just like regular contracts. However, instead of being drafted on paper, these contracts run in the form of protocols on the blockchain.

The DGTX is an Ethereum-based ERC-223 native token of Digitex. DGTX is also a protocol token. Users can trade DGTX coins for Ether, Bitcoin, and other cryptocurrencies on the Digitex platform. Token holders can also seek to trade liquid futures contracts on the prices of Bitcoin, Ethereum, and Litecoin on Digitex Futures Exchange. 

The DGTX token owners are also responsible for allocating new tokens to cover the operational cost of running the futures exchange using the decentralized governance by blockchain (DGBB). Token holders also have the right to decide how many new tokens to issue and when.

The whitepaper was last updated on January 18, 2018. The maximum total supply of DGTX tokens is 1 billion DGTX.