Improvements to the Digitex Exchange Are Now Live

Improvements to the Digitex Exchange Are Now Live

We’re pleased to announce that we’ve just implemented an update which brings in several important upgrades to the exchange. Next time you log in, you’ll see improvements to the UX and UI, and find more ways to buy DGTX. What’s more, you can start earning near-instant rewards for market-making with our Liquidity Mining program.

Please note, our deployment is still in progress. You may experience a few minor bugs during this period, but this will be temporary.

Let’s dive into the upgrades in more detail.

Improvements to UX and UI

We’ve implemented a number of upgrades to the UX and UI that you’ll notice when you log in. Firstly, markets are now tabbed at the top of each page, making it easy to switch between BTCUSD and ETHUSD. There’s also a left-side menu for easier navigation in your dashboard page, and we’ve added the traditional red-green market colors into the user interface, as well.

The new user registration process is now optimized for easy sign-up, and the “Get More DGTX” button is helpfully located in the top navigation. 

More Ways to Buy DGTX 

Next up, there are now plenty more ways to get your hands on the DGTX you need for trading. Most excitingly, you can now buy DGTX with a credit card thanks to our brand-new fiat onboarding feature! Anyone who wants to onboard to DGTX from fiat needs to undergo a standard KYC check. However, if you want to use your existing crypto holdings to buy DGTX, there’s no KYC and now more ways to pay.

You can convert BTC, ETH, or USDC into DGTX using the DGTX Converter. You can also deposit any of these three currencies into the exchange, which you can then convert to DGTX either fully or partially. Please kindly note that withdrawals on these cryptos are restricted for now, you can withdraw only DGTX.

These upgrades remove several critical barriers for users by making it easy to onboard to Digitex Exchange and start trading. And the ability to deposit BTC, ETH and USDC is the first stage of introducing cryptocurrency spot markets in our next planned upgrade.

Liquidity Mining Rewards

Perhaps the biggest update to be released today is the ability for anyone to earn rewards for providing liquidity to the markets on Digitex. We’ll be sharing more details with you about this awesome initiative tomorrow, but essentially, under our new Liquidity Mining program, all traders are automatically included simply by trading on the exchange. 

Each minute, the system takes a snapshot of the order book and pays out rewards depending on how close your unmatched orders are to the spot price. Rewards are credited minute-by-minute to your main Digitex wallet in DGTX tokens.

Everything is tracked in the Liquidity Mining dashboard so the system is completely transparent. The dashboard shows the total rewards paid out each day, and your individual earnings by selected custom date. There’s also a leaderboard showing which traders are the most active market makers earning the most rewards.

How are they calculated? Well, each market – BTCUSD and ETHUSD – receives a daily allocation of 100,000 DGTX tokens, which works out to 70 DGTX per minute (100,000 tokens divided by 1440 minutes in a day.)

Each minute, the system automatically allocates those tokens to the traders with unmatched bids and asks, on a weighted basis depending on the proximity of their order to the spot price.

Effectively, this means that you can now turn a small profit even when you don’t get matched, as all traders are included automatically. For more information about the Digitex Liquidity Mining program, visit our Knowledge Base.

Practice Trading on the Testnet

Finally, new users, or those who want to test a new trading strategy can now practice on the Digitex testnet, which is an exact replica of the mainnet only without real DGTX tokens. So, feel free to get as creative as you like with your trading strategy as you won’t be losing real funds.

There will also be a brand-new website and branding launching later this week, so make sure you have an eye out for some changes to our logo, and the look and feel of the Digitex brand.

This upgrade is just the first in a planned series, as we have more improvements coming in due course. However, we’ve given you plenty to get your teeth into here, so happy trading!

Published at Mon, 22 Mar 2021 15:03:39 +0000