Futures Exchanges

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Список фьючерсных бирж – List of futures exchanges

Это список известных фьючерсных бирж . Эти фондовые биржи , которые также предлагают торговлю фьючерсных контрактов , кроме торговли в ценных бумагах перечислены и здесь , и список фондовых бирж .

Futures Exchanges

Digitex Futures is pleased to announce the launch date of its mainnet platform after receiving the green light from its development team SmartDec. April 27 will be a very big day for Digitex Futures – and for cryptocurrency trading in general.

We firmly believe that we are bringing something truly unique to the crypto derivatives space. Beyond zero fees, which facilitate aggressive trading strategies such as scalping, Digitex is the first platform to introduce a rapid-fire trading ladder to crypto trading.

Onboarding traders to the mainnet will start on April 27 and Digitex will follow the same process it did with its beta rollout, allowing a selected group of “Alpha” traders in first to ensure the launch goes off successfully. Every day, more traders will be added until the launch is complete.

Currently, in our beta version, the platform is receiving some excellent feedback. Beyond new features being incorporated almost daily and bugs being smoothed out, testers are commenting about how robust the platform is and the high amounts of volume it is handling–more than 11 billion contracts in a single day. The countdown to zero-fee trading is on.

Digitex Futures Exchange Overview

The Digitex Futures Exchange: Zero-Fee, Peer to Peer Crypto Futures Trading Platform

Digitex Futures is a zero-fee, peer-to-peer crypto futures exchange with its own base currency, the DGTX token. Digitex is using Ethereum’s blockchain technology to build a cutting-edge crypto futures exchange with zero trading fees.

From the point of launch of the public testnet, we will offer a BTC/USD perpetual swap futures contract. However, we will be adding more markets as we develop our platform.

Key Differentiators of the Digitex Exchange:

The Digitex exchange model is revolutionary within the cryptocurrency and futures trading space. Traders win and lose in Digitex (DGTX) tokens. Traders must have a balance of DGTX cryptocurrency to place trades, thus creating a demand for the DGTX token.

This demand is what enables us to offer no-fee trading on all trades because the exchange makes money by selling DGTX tokens instead. Zero-fee trading attracts extremely active, ultra-short term traders who create highly liquid markets using strategies not viable on fee-charging exchanges and existing futures trading websites, further increasing demand for DGTX. Large tick sizes level the playing field between human traders and bots.

After our initial public testnet launch in November 2020, we will be working on developing the platform to offer non-custodial account balances to our users. This will put Digitex in the position of being another world-first–a hybrid exchange with a centralized, sophisticated order book and the security of decentralized account balances held on a smart contract. Digitex is also actively researching how to use blockchain technology to create a provably fair matching engine.

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Digitex’s automated market makers are programmed to lose whatever system gains are made by the liquidation engine. This gives traders the additional incentive to compete for their losses, further increasing liquidity and creating highly active markets with tight bid/ask spreads.

How Digitex Offers Commission-Free Futures Trading

Digitex Futures is the world’s first cryptocurrency futures trading platform to offer no-fee trading. Other exchanges in the crypto futures markets charge traders based on a maker and taker fee model.

Digitex CEO Adam Todd made his career on the back of a style of trading known as scalping. Scalping is an extremely short-term, high-frequency trading style that aims to take small, most often single-tick profits from each trade. Scalp traders often exit a position within minutes or seconds if they don’t see an immediate profit.

The scalping style of trading described here is the easiest to learn, requires no specialized knowledge about the underlying instrument and will give you steadier, less volatile results. However, it requires a lot of discipline and this style of trading is particularly susceptible to the ravages of the maker and taker fee model of crypto futures exchanges.

Let’s illustrate this with an example. In the traditional German Bund futures markets where Adam started his career, scalpers could successfully trade in this manner because the value of one tick on the Bund was 25 Deutsch Marks and the commission to buy and sell one futures contract was less than 3 Deutsch Marks. Traders would also get a scratch trade rebate every time they bought and sold at the same price.

Traders only had to make one tick for every 10 round turns to break even, and anything over that was profit. It was a lot harder than it sounds. But it was possible because the commission fee to buy and sell one futures contract was one-tenth of the value of one tick.

Currently, this style of short term scalping on fee-charging cryptocurrency futures exchanges is literally impossible. The commission cost of buying and selling one futures contract with a taker order is more like 10 times the value of one tick. There’s a built-in mechanical edge that you cannot beat, and which guarantees you will lose over the long run.

In the current BitMEX fee model, the taker fee is 0.075% of the notional value of the underlying instrument. That may look small, but if you’re trading with 100x leverage that’s actually 7.5% of the margin you put down to enter the trade. If you exit the trade with a Taker order, your trading fees are 15% of the order value!

For example, total fees on a $1,000 trade with 100x leverage are $150 [100 x $1,000 x 0.00075 x 2]. How can you ever expect to beat a 15% edge working against you?

At Digitex, our exchange derives its value from the DGTX token, not from charging fees to our traders who are providing liquidity to the exchange. This commission-free trading model is what attracts traders to our exchange. Demand for the opportunity of profitable zero-fee trading will drive the value of the DGTX token as the only means of accessing our platform.

Futures Trading

Getting Started Trading Futures

On the Digitex Futures exchange, you can buy and sell futures contracts using DGTX only. This means that your account balance is in DGTX and all your trading profits and losses will be denominated in DGTX.

You will be buying a perpetual swap contract, which has no expiration date. Read about our contract specifications further on in our Knowledge Base. Basically, you’re speculating on the price of Bitcoin against the US dollar but you are making and losing DGTX tokens and you’re not losing any money at all to trading fees or costs. We want to make it as simple as possible to create winning traders and to allow them to trade successfully.

Skilled traders are used to trading futures for profit. It takes time and discipline, but even if you’re just starting out, earning some extra income from day trading futures is certainly within your reach, especially on a platform that charges no commissions and has no mechanical edge working against you.

How to Become a Winning Trader

At Digitex Futures, we firmly believe that traders are made and not born. Anyone can become a winning trader with the right level of discipline, attitude, practice, and commitment. Digitex CEO Adam Todd is a living example of this. With no formal college education and no understanding of the underlying instruments on which he was trading, Adam carved out a career as a successful futures trader in the open outcry trading pit in London.

There are many different trading strategies and choosing one depends on various factors, from how much time you have to dedicate to trading, to how quickly you want to see a profit, and how much loss you’re prepared to absorb. On the Digitex platform, all types of traders are welcome. However, zero commissions on all trades will be particularly attractive to high-frequency short-term traders, otherwise known as scalpers.

The scalping strategy can create many winning traders in the right conditions. Rather than chase big profits, scalpers will look to minimize their risk and avoid as many losses as possible. This is why they hold their positions for a very short time (sometimes even seconds) as the longer you hold a position, the greater your exposure to risk.

Adam’s scalping strategy involves judging when the momentum is high enough to keep the move going for another 30 seconds. If he doesn’t get at least a single tick profit within that time frame, he will exit that trade.

If you’re new to cryptocurrency, the good news is that short-term scalping requires no fundamental knowledge of the underlying instrument on which you’re trading. You simply look to buy and sell with a one or two tick profit or even a scratch, avoiding any losses and with zero emotions attached to the trade.

This style of ultra short term, manual trading is labor-intensive and requires full concentration and attention. You can’t be checking emails and looking on Facebook or reading random crypto trading articles while you’re scalping to win.

This scalping style of trading is the easiest to learn and will give you steadier, less volatile results. However, scalping like this is particularly susceptible to the unforgiving maker and taker fee model of all other crypto futures exchanges.

The taker fee model used has established commissions that are astronomically high and scalping to win is rendered impossible. The commission cost of buying and selling one futures contract with a taker order is more like 10 times the value of one tick.

A typical trade for a short term scalper involves entering a trade quickly, then immediately placing a maker order to join the bid or offer to get out. If it’s not filled within seconds, the scalper will cancel it and lift the offer or hit the bid with another taker order to exit the trade.

Large commissions make it impossible for profitable short-term scalping currently which greatly damages liquidity as active traders are the lifeblood of an exchange. The Digitex Futures exchange will be a short-term trader’s paradise. With no trading fees of any kind on taker orders, traders will be free to pursue strategies that are not viable anywhere else, creating massive liquidity in the process and more and more winning traders over time.

Beginners Guide To Trading Futures

Trading futures successfully is about avoiding mistakes and minimizing your risk. You must learn to manage your emotions if you want to be a successful futures trader. If you don’t manage your emotions effectively, you run the risk that they’ll eventually get the better of you.

It’s natural to feel fear if you hear bad news about the markets or think it’s worth hanging onto a position to wring a few more dollars out of it. But basing trading decisions on these feelings is a sure-fire route to losing money. To successfully day trade futures online, stick to your plan, and leave the emotions out of it.

Moreover, if you’re trading longer-term, you should always have a stop-loss in place for every trade. Unless you’re superhuman, it’s impossible to monitor the markets at all times, 24/7.

A stop-loss will mean that even if the markets perform unexpectedly, you won’t be stuck in a losing position while you’re asleep. Top futures traders always keep an eye on the big picture and stay abreast of the news, however. Make sure you hone your analytical skills, learn to read charts and use technical tools. If you incorporate all this into your trading plan, you’ll start to see more good days than bad ones.

Only DGTX holders will be able to trade on the Digitex Futures exchange, as all trades will be denominated in DGTX tokens. You can buy tokens from one of our exchange partners, or via the Digitex Treasury. Buying from the Treasury is trustless and instant, meaning there’s no price slippage.

The Digitex (DGTX) Token

The DGTX Token: Native Currency of the Digitex Futures Exchange

The DGTX token is the native currency and lifeblood of the Digitex Futures exchange. It’s a utility token and the sole passport to the exchange. Anyone who wants to participate in our commission-free markets must own DGTX tokens. All profits and losses on the exchange are settled in DGTX, and all account balances are denominated in DGTX.

Because Digitex is the only futures exchange offering commission-free trading (which has huge advantages for regular and particularly short-term traders), the exchange’s reliance on the DGTX token will create a demand for it among traders.

The laws of supply and demand will ensure that DGTX holds its value. The demand for the token, plus its utility on the Digitex exchange, will work together to ensure the liquidity of both the token and the exchange itself.

Buying DGTX

For your convenience, there are several methods available for buying DGTX tokens. Here, we outline each one:

Digitex Treasury:

Avoid creating an account at an exchange and get a trustless, secure and instant transaction by buying DGTX through our Digitex Treasury. This is an ongoing token sale over the next 2.5 years serving to finance the development and operation of the exchange while providing token-holders with an easy secure purchase for a minimal market premium.


You can buy DGTX on our exchange partners HitBTC, Mercatox, Switcheo, and Stex. All you need to do is create an account, deposit some ETH or BTC, and then convert it to DGTX. On HitBTC, you can also buy DGTX with USDT.

Changelly Instant Exchange:

Changelly allows you to convert any digital coin for DGTX quickly using only an email address to create an account. All you need is an ERC20-compatible wallet address to send your DGTX to (such as MyEtherWallet) and the address that you have your ETH, BTC, or any other digital asset stored.

There are plenty of ways to buy DGTX and we will be adding more in the future, so it depends on the method that suits you and the amount you want to buy. Please feel free to contact us if you need any assistance in this matter. Please note, the Digitex Treasury cannot sell any tokens to US residents or citizens.

DGTX Token Supply and Distribution

The total supply of DGTX is 1,000,000,000 (one billion) DGTX tokens which is distributed as follows:

  • 70% public
  • 10% insurance fund
  • 10% treasury
  • 10% team

Continued Funding

There are three phases of revenue generation for the Digitex Futures exchange. The first was our ICO token sale on 15 January 2020 which raised over $5m. The second and current phase is the Digitex Treasury token sale which will last until the end of 2021. The third phase is Digitex Token Issuance, which starts in 2022.

DGTX Token Price Performance Since ICO

The DGTX token has had three major peaks during its lifetime so far. The most significant came at the height of the crypto winter, during the second half of 2020 when Bitcoin and other cryptos were mostly falling. DGTX bucked the market trend, rising from $0.007 on 1 August to a peak of $0.16 by mid-October.

Of course, the cryptocurrency markets are notoriously volatile so it’s impossible to maintain a single price point for a coin subject to supply and demand. In the 12 months between July 2020 and July 2020, DGTX had 10x’d its value. Not many projects can boast these kinds of positive price movements.

Once the exchange goes live, we anticipate that demand for DGTX will increase substantially further as traders decide to migrate to Digitex for the benefits of commission-free trading, liquid markets, and high leverage.

The Digitex Treasury Token Sale

The Digitex Treasury: An Ongoing Token Sale That Funds Exchange Operations

In order to secure continued funding for the Digitex Futures exchange the Digitex Treasury was created. The Treasury is an ongoing token sale in which buyers can purchase DGTX exchange tokens directly from Digitex with zero slippage in an instant trustless transaction.

To create the token sale, 100 million DGTX tokens (10% of the total supply of DGTX) were locked into the Digitex Treasury smart contract. Starting on 1 March 2020, the smart contract releases 10 million DGTX tokens every three months and sells them ongoing for two and a half years until all tokens have been released.

In order not to undercut our exchange partners or risk opportune traders dumping tokens, the price of the token is determined by us and will be set at a small market premium. KYC will be implemented and the Treasury is not open to residents of the U.S. for regulatory reasons. The DGTX price will be at an average 5% premium above CoinMarketCap price

The Digitex Treasury allows traders to buy DGTX easily and instantly without having to go through an exchange. At the same time, it funds our operations and continued marketing and development costs.

Note that Digitex has three phases of revenue generation. The first was the ICO in January 2020, which raised over $5 million. The Treasury is the second and current phase and will last until 2021, and the final phase is token issuance, which will likely begin from 2022 onward.

How To Buy DGTX Tokens From The Digitex Treasury

You can buy DGTX exchange tokens from the Digitex Treasury easily. Simply create an account and verify your identity by completing some basic KYC which takes 1-3 minutes for approval. Send ETH from your Ethereum wallet to our token sale smart contract address. As soon as we receive your payment, the smart contract will automatically calculate the number of DGTX tokens and send them back to the same Ethereum wallet address. The transaction is instant and trustless.

Please note, your Ethereum wallet must be compatible with DGTX exchange tokens. Never send ether from a cryptocurrency exchange wallet or another provider that does not accept DGTX or your tokens will be lost.

Digitex Treasury KYC Requirements

In order to purchase tokens via the Digitex Treasury token sale, you must first pass Know Your Customer (KYC) protocols. This information is used specifically for the detection of money laundering, terrorist financing, fraud and other financial crimes and to ensure you are not attempting to buy DGTX exchange tokens from a restricted Jurisdiction.

To buy DGTX tokens you must be at least 18 years of age. Purchasers that are residents or citizens of the United States of America or any of its insular areas, or Iran, Israel, North Korea, Saint Vincent and the Grenadines, Seychelles, Syria or the Vatican are ineligible to buy tokens through the Digitex Treasury.

You will be required to submit your Email address, First and Last names, Date of Birth, Phone Number and Address. You will be required to submit a photo of a government-issued ID. This can be a passport, driver’s licence or ID card. All corners of the document must be visible and the text in the document should be easy to read. The Document you submit must be valid for at least 1 month, otherwise, it will be rejected by the system.

You will then be required to upload a selfie of yourself holding the Document used in the previous step. Your face should be visible both on the selfie and on the photo in the document. The text on the document must also be readable if it is unreadable due to poor image quality or glare it will be rejected. After your Document and Selfie is approved, which typically takes less than 3 minutes, you are free to buy DGTX tokens.

Should you require any assistance with any of the steps above, please write to us at [email protected] Please note that we will never ask you to send us funds directly and all purchases must go through the Treasury Smart Contract ( 0x9C666C69595c278063278a604FF12c70691AB234 )

How Digitex Makes Money

The Digitex ICO – January 2020

The Digitex ICO was conducted on 15th January 2020. 650,000,000 DGTX tokens were sold to the public inside 17 minutes at a price of $0.01 per token, along with a 20% first week bonus. $5.4million was raised from 2530 buyers.

The Whale Sale – February 2020

The Digitex Whale Sale was conducted on 15th February 2020. 100,000,000 DGTX tokens were offered to the public in a reverse auction format. After 24 hours the sale concluded at a price of $0.0197 per token. $1.97million was raised from 3,355 buyers.

The Digitex Treasury Token Sale – Ongoing

The second means of funding operations is our ongoing token sale, the Digitex Treasury. The Treasury is a smart contract that holds 100 million DGTX tokens which are released in 10 quarterly token sales, every three months over the next 2.5 years. The first sale opened on 1st March 2020, and the last one will open on 1st June 2021. Buyers can enjoy zero slippage and an instant trustless transaction while helping to fund commission free trading.

Token Issuance – Starting in 2022

The third stage of funding of the Digitex Futures exchange is token issuance. This is projected to start from 2022 and will be voted on through decentralized governance by blockchain by DGTX token holders. Minting new DGTX tokens will have an inflationary effect on the price of the DGTX token. However, this will likely be very small and quickly offset by increased demand for the token coming from new traders to the platform attracted to commission-free trading and tight bid/ask spreads.

Perpetual Swap Futures Contracts

The Mechanics of Perpetual Swap Futures

Perpetual contracts are a special kind of futures contract with no expiry or settlement.

Perpetual Contracts mimic a margin-based spot market and thus trade close to the underlying reference Index Price. This is in contrast to a futures contract with an expiry date (e.g. a monthly or quarterly contract) which may trade at significantly different prices while the expiry date remains a period of time away. The primary mechanism that keeps a perpetual contract trading close to the underlying spot price is Funding.

Each contract on our perpetual swap contract offerings has a tick value that is denominated in DGTX. All account balances, margins, funding costs and settlements are denominated in DGTX.

The tick size on the BTC/USD perpetual market is $5. This means that the minimum price movement of Bitcoin is $5 and contracts may only be bought or sold at $5 increments.

Each tick on the BTC/USD perpetual market is worth 0.1 DGTX. This means that for one contract, each $5 move is the equivalent of a gain or loss of 0.1 DGTX.

The Contract Specifications are as follows:

Trading Examples

1. Dmitrij goes long 10 Bitcoin/USD futures contracts with no leverage.
The current Bitcoin price is $10,000
His Initial Margin at no leverage is 10,000/5 x 10 contracts x 0.1 (tick value) = 2000 DGTX.
His initial margin for each contract is 200 DGTX.
His liquidation price is $5000.

The Bitcoin Price quickly moves upwards and he subsequently closes his position at a profit at $10,010.
As each bitcoin move of $5 equals 0.1 DGTX per contract, his profit is 0.2 DGTX per contract.
His final profit is 0.2 DGTX * 10 contracts = 2 DGTX.

2. Gary goes long 50 Bitcoin/USD futures contracts with 10x leverage.
The current Bitcoin price is $12,000
His Initial Margin at 10x leverage is 12,000/5 x 50 contracts x 0.1 (tick value) / 10 leverage = 1,200 DGTX.
His Initial Margin for each contract is 24 DGTX.
His liquidation price is $11400.
The Bitcoin Price quickly moves upwards and he subsequently closes his position at a profit at $12,020.
As each bitcoin move of $5 equals 0.1 DGTX per contract, his profit is 0.4 DGTX per contract.
His final profit is 0.4 DGTX * 50 contracts = 20 DGTX.

3. Jolien goes short 500 Bitcoin/USD futures contracts with 100x leverage.
The current Bitcoin price is $12,000
Her Initial Margin at 100x leverage is 12,000/5 x 500 contracts x 0.1 (tick value) / 100 leverage = 1,200 DGTX.
Her initial margin per contract is 2.4 DGTX.
Her liquidation price is $12060.
The Bitcoin Price quickly moves upwards and she subsequently closes her position at a loss at $12,030.
As each bitcoin move of $5 equals 0.1 DGTX per contract, her loss is 0.6 DGTX per contract.
Her final loss is 0.6 DGTX * 500 contracts = 300 DGTX.
That was a little silly Jolien.

4. Gary goes short 1000 Bitcoin/USD futures contracts with 20x leverage.
The current Bitcoin price is $10,000
His Initial Margin at 20x leverage is 10,000/5 x 1000 contracts x 0.1 (tick value) / 20 leverage = 10,000 DGTX.
His initial margin per contract is 10 DGTX.
His liquidation price is $10,250.
The Bitcoin Price moves downwards and he subsequently closes his position at a profit at $9,500.
As each bitcoin move of $5 equals 0.1 DGTX per contract, his profit is 10 DGTX per contract.
His final profit is 10 DGTX * 1000 contracts = 10,000 DGTX.
Good job Gary.


Funding is the key mechanism by which the price of a perpetual contract remains as close as possible to the spot price of the underlying asset.

Digitex Futures does not receive any of the fees paid on funding; it is exchanged directly peer-to-peer between holders of long and short positions.

The Funding rate consists of: Interest Rate & Premium Index:

Interest Rate

Each Perpetual contract traded on the Digitex Futures Exchange consists of a Base currency, e.g. BTC, and a Quote currency, e.g. USD. The Interest Rate is a function of the interest rate between these two currencies. For the BTCUSD perpetual, it is the difference between the borrowing costs of BTC and USD.

  • Interest of Quote Index = The Interest Rate for borrowing the Quote currency (USD) (0.06%)
  • Interest of Base Index = The Interest Rate for borrowing the Base currency (BTC) (0.03%)
  • Funding Interval = 3 (24 hours divided by 8), this means funding occurs every 8 hours.

Premium Index

Perpetual contracts may sometimes trade at a discount or a premium from the Mark Price. When this occurs, a Premium Index is used to raise or lower the next Funding Rate to be level and consistent with where the contract is trading.

The Impact Bid Price = The average fill price to execute the Impact Margin Notional on the Bid side

The Impact Ask Price = The average fill price to execute the Impact Margin Notional on the Ask side

The Impact Marginal Notional is the notional available to trade with 0.1 BTC worth of margin (i.e. 0.1 BTC / Initial Margin) and is used to determine how deep in the order book to measure either the Impact Bid or Ask Price.

Funding Rate Calculation

Digitex calculates the Premium Index (P) and Interest Rate (I) every 60 seconds and subsequently performs an 8-Hour Time Weighted Average Price over a series of minute rates.

The Funding Rate is then calculated with the 8-Hour Interest Rate Component and the 8-Hour Premium/Discount Component. A plus or minus 0.05% dampener is also added.

Funding Rate (F) = Premium Index (P) + clamp(Interest Rate (I) – Premium Index (P), 0.05%, -0.05%)

Therefore, if (I – P) is within +/-0.05% then F = P + (I – P) = I. In simple terms, the Funding Rate will equal the Interest Rate.

This calculated Funding Rate is then applied to a trader’s Position Value to determine the Funding Amount to be received or paid at the time that funding occurs.

Dual-Price Mechanism

Digitex uses a Dual-Price Mechanism to ensure users do not fall victim to blatant market manipulation. Market manipulation can cause the futures price of the underlying to deviate significantly from the spot price, causing a huge number of liquidations to occur.

Mark Price is used as a trigger for liquidations. Mark Price is the spot index price plus a decaying funding basis rate.

Calculation of Mark Price

Mark Price (the price at which Liquidations occur) = Index Price x (1+ Funding Basis)

Index Price

A weighted average between Coinbase Pro, Kraken, Binance and Bitfinex.

Funding Interval = 8 (Funding every 8 hours)

Last Traded Price is the market price of the contract. When a liquidation occurs, it is liquidated according to the last traded price.

Margin and Leverage

What is Margin and Leverage?

Margin is the amount required in order to enter a position.

With leverage, traders are able to open a position by using only a fraction of the margin that they would otherwise need without leverage. The higher leverage amount a trader uses the lower the margin requirements.

How is Margin Calculated?

Margin requirements differ for each market traded on and the amount of leverage used. On the BTC/USD perpetual market, the initial margin for a position is 1%. This means that the minimum required margin needed to open a position is 1% (at 100x leverage).

Maintenance Margin on the BTC/USD perpetual contract is set at 50% of your initial margin.

To calculate the initial margin required in DGTX for one contract, you simply take the price of Bitcoin, divide it by 5 (for each $5 increment), multiply it by 0.1 (0.1 DGTX per tick) and then divide it by the leverage used.

See if you can follow the examples below.

Example 1:
The current Bitcoin price is $8000.
You are using no leverage.
Therefore, the initial margin required to buy a contract is 8000 divided by 5, multiplied by 0.1. The initial margin to buy a single contract in this scenario is 160 DGTX.

Example 2:
The current Bitcoin price is $7000.
You are using 20x leverage.
Therefore, the initial margin required to buy a contract is 7000 divided by 5, multiplied by 0.1 and then divided by 20. The initial margin to buy a single contract in this scenario is 7 DGTX.

Example 3:
The current Bitcoin price is $6000.
You are using 2x leverage.
Therefore, the initial margin required to buy a contract is 6000 divided by 5, multiplied by 0.1 and then divided by 2. The initial margin to buy a single contract in this scenario is 60 DGTX.

For more information on the liquidation process, please see the liquidation tab.

Market Making

Redistributing System Gains Back to Traders via Market Maker Losses

Digitex operates automated market makers that maintain tight bid/ask spreads and provide extra liquidity to our futures markets. However, our market makers are actually programmed to lose money over time, meaning that we are never trading against our own customers for profit. The purpose of our market makers is to increase liquidity and to purposely lose money. This encourages traders on the exchange to compete amongst themselves for those losses, further increasing liquidity.

Of course, if our market makers are losing money this money must come from somewhere. And it comes from the system gains that are made by our Liquidation engine. Here’s how it works:

When a highly leveraged trader allows his account balance to go below the required Maintenance Margin balance needed to keep his or her position open, the liquidation engine is forced to take over his position and liquidate it.

Traders who allow this to happen instead of managing their position more responsibly will lose their entire Initial Margin, but it’s possible that the liquidation engine gets a better price than the trader’s bankruptcy price and makes a small profit. This profit is added to the Digitex Insurance Fund which is maintained at 100,000,000 DGTX (10% of the total supply of DGTX). If the balance of the Insurance Fund goes above 100 million DGTX then instead of keeping this extra money indefinitely, we give that extra money to our automated market makers to lose back to our traders through trading losses.

Insurance Fund

The Digitex Insurance Fund: Ensuring Stability and Liquidity on the Digitex Futures Markets

The Liquidation Engine of the Digitex Futures exchange takes over and liquidates the positions of traders whose account balances have dropped below the required Maintenance Margin amount needed to maintain their open position. Any funds made from this by the exchange are allocated to the Insurance Fund. The Digitex Futures Insurance Fund will hold 100 million DGTX tokens which is 10% of the entire supply.

The exchange stops out the trader at the bankruptcy price as if he or she lost the entire Initial Margin posted to open the position. This way, it is possible that the exchange obtains a better price. All additional funds made in this situation are deposited into our Insurance Fund. Any losses suffered by the exchange when a trader loses more than their account balance are covered by the same Insurance Fund. This ensures stability and liquidity on the Digitex Futures markets and eliminates counterparty risk.

The profits made by the Liquidation Engine for the Insurance Fund typically come from high risk, highly leveraged traders who accept that forcing the exchange to take over their position may result in bigger losses than if they managed their position more responsibly. Therefore, it is very possible for traders to avoid any contact with the Liquidation Engine if they wish.

This system is very similar to how many exchanges take over and liquidates bankrupt traders’ positions. The BitMEX Insurance Fund balance increases with virtually no daily drawdowns of any significance over a period of years, even during periods of high volatility.

The BitMEX Insurance Fund balance has increased 99 days out of the last 100 days and this is typical performance going back for years.

How Is the Insurance Fund Funded?

Traders on the Digitex Futures exchange must have sufficient Initial Margin in their trading account to open a futures position. After opening a futures position, a trader must have sufficient Maintenance Margin in their trading account to keep that position open.

The Maintenance Margin required to maintain an open position is 50% of the Initial Margin the trader posted to open that position. If the trader’s account balance falls below the Maintenance Margin requirement to maintain the current open position, the system will cancel the unmatched orders on that market to free up the margin requirements of those unmatched orders.

If after doing this, the account balance is still below the required Maintenance Margin, the system will take over the trader’s position and liquidate it.

After assuming a trader’s open futures position, the system will attempt to immediately close that position by submitting a buy or sell order at the bankruptcy price. The bankruptcy price is the price at which the trader will lose the entire Initial Margin amount posted to open the position.

For Long positions, the bankruptcy price is calculated by subtracting the Initial Margin requirement from the trader’s entry price. For Short positions, the bankruptcy price is calculated by adding the Initial Margin requirement to the trader’s entry price.

After assuming a trader’s position, if the system is able to liquidate that position at a better price than bankruptcy price, the additional funds are placed into the Insurance Fund.

Example trade: Bob places a limit order to buy 1 BTC/USD futures contracts at $10,000 at 50x leverage which requires an Initial Margin of 4 DGTX. He has exactly 4 DGTX in his trading account and shortly after placing it, his buy order is filled. His Maintenance Margin requirement is therefore 2 DGTX, which means his account balance must have at least 2 DGTX in it to maintain this open Long position. If the price drops below 9,900, his account balance falls below 2 DGTX and the system will take over his position and submit a sell order at the bankruptcy price of 9,800 (Entry Price – Initial Margin).

In the above example, if the system submits a sell order at 9,800 when the last traded price is currently 9,900, it is possible that the position will be closed at a better price than 9,800. If the position is liquidated at 9,840, then 1.8 DGTX will be added to the Insurance Fund.

This effectively means that traders who allow their position to be force liquidated by the exchange by allowing their account balance to go below the required Maintenance Margin level will always lose the full Initial Margin amount they posted to open that position, even if the position is closed at a better price than bankruptcy price. Any additional funds that are made by getting a better price than bankruptcy price are added to the Insurance Fund and not to the trader’s account. This will incentivize traders to avoid forced liquidations which are a risk vector for the exchange.

The profits made by the Liquidation Engine typically come from high risk, highly leveraged traders who accept that forcing the exchange to take over their position may result in bigger losses than if they managed their position more responsibly. The Insurance Fund will always remain at 100 million DGTX. Any excess profits from the fund will be reallocated to the market makers to lose. Read more about that in the market making section.

Order Types

Market Orders

A market order is an order which allows a trader to buy or sell at the current best available price. Usually, this type of order will be executed immediately. However, the price at which a market order is executed is not guaranteed.

It is important to remember that the last traded price is not always the price at which a market order will be executed. In quick-moving markets, the price at which a market order will execute often deviates from the last-traded price or real-time price quote.

Limit Orders

A limit order is an order to buy or sell at a specific price or better. A buy limit order can only be executed at the limit price or lower, and a sell limit order can only be executed at the limit price or higher.

This ensures that a trader will never pay more than what he or she has bid, although a limit order is not guaranteed to execute. A limit order can only be filled if the market price reaches the limit price.

Stop Orders

A stop order is an order to buy or sell an asset when its price moves beyond or below a particular price. Once the market price passes the predefined entry or exit point, the stop order becomes a market order.

Stop Limit Orders

A stop limit order is a conditional type of order that combines a stop order and a limit order. Once an asset reaches the stop price, a limit order is automatically triggered to buy/sell at a specific target price. However, as with a limit order, it is not guaranteed to execute.


Why Liquidations Occur

Liquidations occur when the market goes against you. When you enter into a position, if the market goes against you and drops below your maintenance margin, you are liquidated and your entire initial margin is lost.

When Liquidations Occur

The Liquidation price when long is calculated by the following formula:

  • The Maintenance Margin Rate for Bitcoin is 50% of your Initial Margin.

For long positions, the liquidation price is roundest up to the nearest Dollar ($) when applicable.

The Liquidation price when short is calculated by the following formula:

  • The Maintenance Margin Rate for Bitcoin is 50% of your Initial Margin.

For short positions, the liquidation price is roundest down to the nearest Dollar ($) when applicable.

System Gains and Losses

The Liquidation Engine of the Digitex Futures exchange takes over and liquidates the positions of traders whose account balances have dropped below the required Maintenance Margin amount needed to maintain their open position. Any funds made from this by the exchange are allocated to the Insurance Fund.

The exchange stops out the trader at the bankruptcy price as if he or she lost the entire Initial Margin posted to open the position. This way, it is possible that the exchange obtains a better price. All additional funds made in this situation are deposited into the Insurance Fund. Any losses suffered by the exchange when a trader loses more than their account balance are covered by the same Insurance Fund. This ensures stability and liquidity on the Digitex Futures markets and eliminates counterparty risk.

The profits made by the Liquidation Engine for the Insurance Fund typically come from high risk, highly leveraged traders who accept that forcing the exchange to take over their position may result in bigger losses than if they managed their position more responsibly.

The Digitex Waitlist

What is the Digitex Waitlist?

The Digitex waitlist demonstrates the massive demand for commission-free trading. It is currently closed and has over 1.6 million traders signed up waiting for the exchange to launch. As well as participating in a waitlist competition winning free DGTX by referring friends, those who have signed up can receive the latest updates and news about the project.

How did we accumulate such a massive number of people so quickly? Well, commission-free trading is a massive pull in itself. Add to that additional futures markets other than Bitcoin, non-custodial account balances, and an intuitive one-click ladder trading interface that allows traders to stay in the zone, and we have a winning combination!

We also applied a hefty dose of viral marketing and leveraged the power of the Digitex community to ensure that the message got out. We used a referral system to incentivize people to spread the word about Digitex and get more and more to sign up.

Those who referred the most battled out for 10 top prizes of 100,000 DGTX each. On top of that, the top 10,000 names have been confirmed and will each be airdropped 1000 DGTX upon launch of the exchange.

We know that our unique value propositions already sell themselves, but with skilled referral marketing, we were able to exceed even our own expectations.

Contest Ends at Mainnet Launch 2020

Currently, the Digitex Futures exchange is in Beta, which officially went live on 30 November 2020. During this time, the exchange isn’t utilizing real DGTX tokens, rather testnet tokens to allow the development team to properly test the platform, and prepare it for the Mainnet launch set for 2020. The third waitlist campaign will officially end at Mainnet launch. Please stay tuned for the mainnet launch date announcement!

All you need to do is join the waitlist and start sharing your unique link. The more people you refer, the higher up the list you go. This time around, however, we’ve split it into five localized campaigns. So you can choose the one that suits you best according to your language and region.

Join the South Korean / Japanese / Chinese / Russian / or English Digitex Waitlists and start sharing your unique referral link.

The top 10 names on each list will each win 50,000 DGTX each. And the top 500 names on the waitlist will get 1,000 DGTX each airdropped into their accounts and ready to trade once the exchange testnet goes live.

All winners will be announced upon completion of the waitlist.

Affiliate Program

As of Feb 7, 2020, the Digitex Affiliate Program has been temporarily suspended due to overwhelming requests from the Digitex Community. We thank you very much for all your help promoting the Digitex Treasury and we look forward to working with you on future ventures after the mainnet launch. For further details, please visit this page.

Privacy Policy



This Privacy Policy explains how Digitex and its Affiliates (“Digitex”) collects, uses, shares, and protects user information obtained through the digitexfutures.com website. When we ask for certain personal information from users it is because we are required by law to collect this information or it is relevant for specified purposes. Any non-required information you provide to us is done so voluntarily. You decided whether to provide us with these non-required information; you may not be able to access or utilize all of our Services if you choose not to.

By using the Site, you consent to the data practices described in this Privacy Policy. On occasion, Digitex may revise this Privacy Policy to reflect changes in law or our personal data collection and use practices. If any changes are made to this Privacy Policy, the changes will be announced by posting on the site. We will ask for your consent before using your information for any purpose that is not covered in this Privacy Policy.

The types of Personal Data that we collect directly from you or from third parties depend on the circumstances of collection and on the nature of the service requested or transaction undertaken. It may include (but is not limited to):

(a) personal information that links back to an individual, e.g., name, date of birth, and other personal identification numbers;

(b) contact information, e.g., address, phone number and email address, ethereum wallet address;

(c) technical information, e.g., IP address for API services and logins

(d) statistical data, e.g., hits to website.


This Privacy Policy covers any Personal Data provided to us:

(a) when you engage with our products and services;

(b) when you create an account with us;

(c) under any other contractual agreement or arrangement;

Some of the other ways we may collect Personal Data shall include (but is not limited to):

(a) communications with you via telephone, letter, fax, and email;

(b) when you visit our website;

(c) when you contact us in person;

(d) when we contact you in person;

(e) when we collect information about you from third parties (such as the social graphs available from social media companies); and other channels including our support helpdesk.

(f) Possible extrapolation of other information by processing the data.


From our website and services, we collect your Personal Data in the following ways:

We use your IP address to help diagnose problems with our server, and to administer our website. IP addresses are not linked to personally identifiable information.

A cookie is an element of data that a website can send to your browser, which may then store it on your system. We use cookies in some of our pages to store your preferences and record session information. The information that we collect is then used to ensure a more personalized service level for our users.

You can adjust settings on your browser so that you will be notified when you receive a cookie. Please refer to your browser documentation to check if cookies have been enabled on your computer or to request not to receive cookies. As cookies allow you to take advantage of some of the Website’s essential features, we recommend that you accept cookies. For instance, if you block or otherwise reject our cookies, you will not be able to use any products or services on the website that may require you to log-in (token holdings store cookies for favorite).

It is important that you prevent unauthorized access to your password and your computer. You should always log out after using a shared computer.

Information collected from cookies is used by us to evaluate the effectiveness of our site, analyze trends, and manage the platform. The information collected from cookies allows us to determine such things as which parts of our site are most visited and difficulties our visitors may experience in accessing our site.

With this knowledge, we can improve the quality of your experience on the platform by recognizing and delivering more of the most desired features and information, as well as by resolving access difficulties. We may also use cookies and/or a technology known as web bugs or clear gifs, which are typically stored in emails to help us confirm your receipt of, and response to our emails and to provide you with a more personalized experience when using our site, or allow third-party service providers to do this.

Your continued use of this site, as well as any subsequent usage, will be interpreted as your consent to cookies being stored on your device.

(c) User feedback form

Our feedback form requires you to give us contact information (e.g. your name and email address) so that we can respond to your comments. We use your contact information from the registration form to send you information about our company. Your contact information is also used to contact you where necessary.

(d) Site tracking

We also use third party service provider(s), to assist us in better understanding the use of our site. Our service provider(s) will place cookies on the hard drive of your computer and will receive information that we select, for example, how visitors navigate around our site, what pages are browsed and general transaction information. Our service provider(s) analyzes this information and provides us with aggregate reports. The information and analysis provided by our service provider(s) will be used to assist us in better understanding our visitors’ interests in our site and how to better serve those interests. The information collected by our service provider(s) may be linked to and combined with information that we collect about you while you are using the platform. Our service provider(s) is/are contractually restricted from using information they receive from our Site other than to assist us.


We may use your Personal Data for the following “Core Purposes”:

(a) to enable us to provide our services and perform our services to you;

(b) to protect the safety and well being of yourself and/or other customers;

(c) to investigate and respond to claims and inquiries from you;

(d) for business development purposes such as statistical and marketing analysis, systems testing, maintenance and development, customer surveys or to help us in any future dealings with you, for example by identifying your requirements and preference;

(e) to comply with any legal or regulatory requirements; and/ or

(f) for all other purposes ancillary to any of the purposes stated above.

Ancillary to these “Core Purposes”, we reserve the right to use your data in the following ways:

(g) to communicate offers, product, services and information on products and activities;

(h) marketing/cross-marketing and communicating with you in relation to products and services offered by us and our service partners as well as our appointed agents; and/or

(i) for all other company-related purposes ancillary to any of the purposes stated above.


Depending of your country of residence and its legislation, you may have the right to request from us a copy of your personal data, as well as to delete your personal data, make amendments to it or restrict it’s processing. We will endeavour to provide the information back to you as soon as practicable. However we also reserve the right to validate all requests for the authenticity of the request.

You may be requested to provide us with your personal data, such as KYC documents in specific situations to comply with legal and regulatory requirements or in case of dispute between you and Digitex. In such cases Digitex expects you to provide us with such requested information for the further processing and actions.


Please note that it is obligatory for the Company to process your Personal Data for the Core Purpose as stated above, without which some services or features provided by Digitex Futures may be affected. If we do not have your consent to process your Personal Data for the Ancillary Purposes, we will not be able to keep you updated about our future, new and/or enhanced services and products.

Nevertheless, you may stop receiving promotional activities by:

(a) unsubscribing from the mailing list(s);

(b) editing the relevant account settings to unsubscribe; or

(c) sending a request via our Contact Us form (https://digitexfutures.com/contacts/).


We will not trade or sell your Personal Data to third parties. Your Personal Data shall only be disclosed or transferred to the following third parties appointed or authorised by the Company for the fulfilment of the Purpose of: (a) data warehouses; (b) IT service providers; (c) data analytics and/or marketing agency; (d) legal bodies as permitted or required by law such as in compliance with a warrant or subpoena issued by a court of competent jurisdiction; and/or (e) regulatory authorities applicable to you; and/or (f) safety and security personnel. In addition to the above, your Personal Data may also be disclosed or transferred to any of the Company’s actual and potential assignee, transferee or acquirer (including our affiliates and subsidiaries) or our business, assets or group companies, or in connection with any corporate restructuring or exercise including the our restructuring to transfer the business, assets and/or liabilities. We shall take practical steps to ensure that their employees, officers, agents, consultants, contractors and such other third parties mentioned above who are involved in the collection, use and disclosure of your Personal Data will observe and adhere to the terms of this Privacy Statement.


The Company may store data in global hosting providers with servers across various regions and we shall take all reasonable steps to ensure that all Personal Data is destroyed or permanently deleted when no longer required for the Purpose of the company, and prepare a disposal schedule for inactive data after 24 month period.

Digitex implements various security measures to ensure that your personal data is stored safely and is not compromised in any way. At the same time, Digitex cannot in good faith guarantee that data breach is not possible since no security measure is able to provide absolute protection. It is advised for Users to take their own safety measures such as 2-Factor Authentication or other measures not provided by Digitex. If you suspect that your account information or your personal data has been compromised, you should contact Digitex Support as soon as possible.


We may link this website and/or our applications to other companies’ or organizations’ websites (collectively, “Third Party Sites”). This Privacy Notice does not apply to such Third Party Sites as those sites are outside our control. If you access Third Party Sites using the links provided, the operators of these sites may collect your personal information. Please ensure that you are satisfied with the privacy statements of these Third Party Sites before you submit any personal information. We try, as far as we can, to ensure that all third party linked sites have equivalent measures for protection of your personal information, but we cannot be held responsible legally or otherwise for the activities, privacy policies or levels of privacy compliance of these Third Party Sites.


Please note that this Privacy Policy may be amended from time to time in accordance to applicable laws and regulations and such variations may be applicable to you.

For further inquiries or complaints in relation to our handling of your Personal Data or our Privacy Policy or wish to access, update or amend your Personal Data as mentioned above please contact us (https://digitexfutures.com/contacts/).

Digitex Terms and Conditions

The following Terms and Conditions (“Terms”) govern your (“you” or the “Purchaser”) purchase of cryptographic tokens (DGTX) from Digitex LTD (Digitex), an exempted company registered in the Seychelles. Both you and Digitex are a “Party​” and, together, the “Parties​” agree to these Terms. This document is not a solicitation for investment and does not pertain in any way to an offering of securities in any jurisdiction. This document describes the Digitex Treasury token sale.
If you do not agree to these terms, do NOT purchase DGTX tokens from Digitex. By purchasing DGTX tokens from us, you will be bound by these terms and any terms incorporated by reference. If you have any questions regarding these terms, please contact us at [email protected]
By purchasing DGTX, and to the extent permitted by law, you are agreeing not to hold Digitex or any of its respective past, present and future employees, officers, directors, contractors, consultants, equity holders, suppliers, vendors, service providers, parent companies, subsidiaries, affiliates, agents, representatives, predecessors, successors and assigns (the “Digitex Team​”) liable for any losses or any special, incidental, or consequential damages arising from, or in any way connected to the sale of DGTX, including losses associated with the terms set forth below.
Do not purchase DGTX if you are inexperienced in dealing with cryptographic tokens and blockchain-based software systems. Prior to purchasing DGTX, you should carefully consider the terms listed below and, to the extent necessary, consult an appropriate lawyer, accountant, or a tax professional.


1. Conditions to DGTX token sale

You may not buy DGTX from the Digitex Futures Treasury if you are a Citizen, Resident (tax or otherwise) or Green Card holder of the United States of America or any of its insular areas, or a Citizen or Resident of Iran, Israel, North Korea, Saint Vincent and the Grenadines, Vatican or the Seychelles. Digitex reserves the right to add and/or remove eligibility of certain jurisdictions in order to comply with the applicable laws.

When you purchase DGTX tokens, you may only do so by accepting the following conditions and by doing so you warrant and represent that the following statements are a true and accurate reflection of the basis on which you are acquiring the DGTX tokens:

  • neither Digitex nor any of the Digitex Team has provided you with any advice regarding whether DGTX is a suitable investment for you;
  • you have sufficient understanding of the functionality, usage, storage, transmission mechanisms and intricacies associated with cryptographic tokens, such as Bitcoin and Ether, as well as blockchain-based software systems generally;
  • you are NOT a Citizen, Resident (tax or otherwise) or Green Card holder of the United States of America or any of its insular areas, or a Citizen or Resident of Iran, Israel, North Korea, Saint Vincent and the Grenadines, Vatican, Syria or Seychelles;
  • you are legally permitted to receive, hold and make use of DGTX in your and any other relevant jurisdiction;
  • you will supply Digitex with all information, documentation or copy documentation that we require in order to allow us to accept your purchase of DGTX tokens and allocate DGTX to you;
  • you will submit identity documents which allow us to fulfill our legal, regulatory and contractual obligations, including but not limited to any anti-money laundering obligation or Know Your Customer procedures;
  • you will notify us promptly of any changes to the information supplied by you to us; you are at least 18 years old or of legal age to form a binding contract under applicable law, and you are not aware of any other legal reason to prevent you from obtaining DGTX tokens;
  • if you are entering into these Terms on behalf of a legal entity of which you are an employee or agent, you represent and warrant that you have all necessary rights and authority to bind such legal entity;
  • you take sole responsibility for any restrictions and risks associated with receiving and holding DGTX tokens, by acquiring DGTX tokens, you are not making a regulated investment, as this term may be interpreted by the regulator in your jurisdiction;
  • you understand that DGTX tokens may only be utilized on the Digitex Platform, are non-refundable and cannot be exchanged for cash (or its equivalent value in any other virtual currency) or any payment obligation by any Group Entity;
  • you are not obtaining or using DGTX tokens for any illegal purpose, and will not use DGTX tokens for any illegal purpose;
  • you waive any right you may have/obtain to participate in a class-action lawsuit or class-wide arbitration against any entity or individual involved with the sale of DGTX tokens;
  • your acquisition of DGTX tokens does not involve your purchase or receipt of shares, ownership or any equivalent in any existing or future public or private company, corporation or other entity in any jurisdiction;
  • to the extent permitted by law and provided we act in good faith, Digitex makes no warranty whatsoever, either expressed or implied, regarding the future success of Digitex and/or the Ethereum Network;
  • you accept that DGTX tokens are created and you obtain DGTX tokens on an “as is” and “underdevelopment” basis. Therefore, provided Digitex acts in good faith, you accept that Digitex is providing DGTX tokens without being able to provide any warranties in relation to DGTX tokens, including, but not limited to, title, merchantability or fitness for a particular purpose;
  • you accept that you bear sole responsibility for determining (i) the acquisition, allocation, use or ownership of DGTX tokens (ii) the potential appreciation or depreciation in the value of DGTX tokens over time, if any, (iii) the sale and purchase of DGTX tokens; and/or (iv) any other action or transaction related to DGTX tokens having tax implications. there may be changes to the intended functionality of DGTX tokens, the Digitex platform or any related products in order to ensure compliance with any present or future legal or regulatory requirements to which Digitex, the Digitex platform, or DGTX is or may in the future become subject to. In the event of any changes to the intended functionality of DGTX, the details of the changes shall be published on the Digitex website. It is the purchaser’s responsibility to regularly check the website for any such notices;
  • you have not supplied us with information relating to your acquisition of DGTX tokens or otherwise which is inaccurate or misleading.

2. Overview of the DGTX Sale

DGTX tokens are required for the proper operation and comprehensive utilization of Digitex Futures (as defined in the white paper (the “White Paper”) provided at https://digitexfutures.com (the “Website”) as of the date the Purchaser acquires DGTX tokens.
Ownership of DGTX tokens during the DGTX token sale carries no rights expressed or implied. Purchases of DGTX tokens are non-refundable.
100,000,000 DGTX tokens are available for purchase with ETH via the Digitex Treasury over a period of two and a half years. 10,000,000 DGTX tokens are released into the Treasury Token Sale smart contract each quarter beginning from 1st March 2020.
The general public will be able to see the total number of DGTX tokens currently sold, as well as the distribution of all DGTX tokens to the participating Ethereum accounts.

3. DGTX Price

Purchasers in the DGTX token sale will be allocated their DGTX tokens in exchange for ETH. The DGTX price is set dynamically and sold with a premium above the average external exchange price. The price of DGTX is NEVER under $0.05. It is the purchaser’s responsibility to take note of the current sale price, which is displayed both on the Digitex Treasury homepage and the purchase page following the successful submission of KYC documents before buying.
Purchasers must use an Ethereum wallet that supports the ERC-223 token standard in order to receive any DGTX tokens purchased from the Digitex Treasury.

4. All Purchases of DGTX Are Final

All purchases of DGTX are final and non-refundable. By purchasing DGTX, the purchaser acknowledges that neither the company nor any of its affiliates, directors or shareholders are required to provide a refund for any reason except in its sole discretion.

The Purchaser bears the sole responsibility of determining whether their purchase of DGTX tokens with ETH or the potential appreciation or depreciation in the value of DGTX tokens over time has tax implications for the Purchaser in the Purchaser’s jurisdiction. By purchasing DGTX tokens, and to the extent permitted by law, the Purchaser agrees not to hold Digitex, its affiliates, shareholders, director, or advisors liable for any tax liability associated with or arising from the purchase of DGTX tokens.

6. Acknowledgment of Risks

You acknowledge and accept that there are risks associated with purchasing DGTX tokens, holding DGTX tokens and using DGTX tokens in connection with any products offered by Digitex. BY PURCHASING DGTX TOKENS, YOU EXPRESSLY ACKNOWLEDGE AND ASSUME THESE RISKS.

In particular, you acknowledge, understand and agree with the following statements:

  • you confirm that you are subject to and bound by these Terms by virtue of your purchase of DGTX tokens;
  • DGTX has no rights, uses, value or other attributes outside of the Digitex platform. purchases of DGTX are non-refundable and cannot be canceled which means that you may lose all amounts paid;
  • the Company reserves the right to refuse or cancel a DGTX purchase request at any time in its sole discretion;
  • purchasers that buy tokens earlier than you may receive more tokens for the amount

7. Force Majeure

8. Indemnification

9. Security

You are responsible for implementing all reasonable and appropriate measures for securing the wallet, vault or other storage mechanism you use to send ETH to Digitex and to receive and store DGTX tokens that are issued to you by the Treasury Smart Contract, including any private key(s) or other credentials necessary to access such storage devices. If your private key(s) or other access credentials are lost, you may lose access to your DGTX tokens. Digitex shall not be held responsible for any security measures relating to your receipt, possession, storage, transfer or potential future use of DGTX tokens nor shall we be under any obligation to recover or return any DGTX tokens and we hereby exclude (to the fullest extent permitted under applicable law) any and all liability for any security breaches or other acts or omissions which result in your loss of (including your loss of access to) DGTX tokens issued to you during the Token Sale.

a. Data Sharing We may share your Personal Data with law enforcement, data protection authorities, government officials, and other authorities when:
a) required by law;
b) compelled by subpoena, court order, or other legal procedure;
c) we believe that disclosure is necessary to prevent damage or financial loss;
d) disclosure is necessary to report suspected illegal activity; or
e) disclosure is necessary to investigate violations of our Treasury Terms of Service or Privacy Policy.
For further information on how we process your Personal Data, please refer to the Privacy Policy.

11. Limitation of Liability

To the fullest extent permitted by applicable law (1) in no event will Digitex or any Digitex affiliated parties be liable for any indirect, special, incidental, consequential, or exemplary damages of any kind (including, but not limited to, where related to loss of revenue, income or profits, loss of use or data, or damages for business interruption) arising out of or in any way related to the sale or use of the tokens or otherwise related to these terms, regardless of the form of action, whether based in contract, tort (including, but not limited to, simple negligence, whether active, passive or imputed), or any other legal or equitable theory (even if the party has been advised of the possibility of such damages and regardless of whether such damages were foreseeable), and (2) in no event will the aggregate liability of Digitex or Digitex affiliated parties, whether in contract, warranty, tort (including negligence, whether active, passive or imputed), or other theory, arising out of or relating to these terms or the use of or inability to use the tokens, exceed the amount you pay to us for the tokens. Certain jurisdictions do not allow the limitation or exclusion of liability for incidental or consequential damages. Accordingly, some of the limitations of this section may not apply to you.

12. Governing Law

The Terms and any non-contractual obligations arising out of or in connection with them are governed by and construed in accordance with English law. The International Business Companies Act 1994 is the principal legislation that governs corporates in the Republic of Seychelles.

Futures Markets – Part 3: Futures Exchanges – a look inside

Futures Trading Short Course

Most exchange trading floors are divided into pits (or rings) where traders stand facing one another. These are more or less shallow octagonal areas with raised steps around the edge. Each pit is designated for trading one or more futures contracts. For instance, at the Chicago Board of Trade (CBOT) there are large pits for trading T-bonds, soybean, and corn futures among many others. The Commodities Exchange Center in New York houses more than one futures exchange. There you will find trading pits for such diverse commodities as coffee, sugar frozen orange juice, cocoa, gold, cotton, and heating oil.

Every futures exchange is set up in about the same way. Like the stock exchanges, the people trading on the floor must be members of the exchange itself. The members support the exchange by dues and assessments. Non-members – average investors, for instance trade through brokerage firms whose officers or partners hold memberships.

The exchange provides the place to trade and support facilities, such as phones and price-reporting and dissemination systems. It does not set prices or buy or sell for itself. However, its employees scrutinize operations and strictly enforce exchange rules and federal commodity trading regulations.

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