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A commission-free, trust-less futures exchange for trading digital currency prices
The exchange also replaces centralized account balances with an independent, decentralized smart contract on the Ethereum blockchain that holds all account balances. This hybrid model of a centralized matching engine coupled with decentralized account balances gives traders the speed and reliability of off chain price discovery combined with the trust-less security of on-chain account settlement.
Transaction fees are eliminated on the Digitex Futures Exchange by creating an Ethereum based token, called the DGTX token, and using it as the native currency of the exchange. All profits, losses, margin requirements and account balances are denominated in DGTX tokens, meaning that traders must own DGTX tokens to participate in the commission-free, trust-less markets on Digitex. This creates demand for DGTX tokens from traders, enabling the exchange to replace revenue generation from transaction fees by creating and selling a small number of new DGTX tokens each year.
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