Article Summary, Automatically Generated By AI
About Digitex
Key Features
- Zero gas fees on bet transactions
- Zero house edge on games
- Zero fees on winnings with DGTX tokens
- Reduced fees on winnings with High Rollers NFT
- Dedicated Layer 3 blockchain
- Outrageous games
- Earn passive BetFi income as the House
Token Information
- Total supply: 9.2 billion DGTX tokens
- ERC-20 token on Ethereum blockchain
- Will become deflationary token with decreasing circulating supply
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About Digitex
At the forefront of innovation, Digitex is a revolutionary cryptocurrency exchange that is poised to redefine the landscape of futures trading.
What Sets Digitex Apart?
Digitex is poised to revolutionize the decentralized betting landscape with:
- Enjoy zero gas fees on all bet transactions
- Experience zero house edge on any games, ensuring a fair play
- Benefit from zero fees on winnings when betting with DGTX tokens, maximizing your rewards
- Take advantage of reduced fees on winnings when holding a prestigious High Rollers NFT
- Operate on our own dedicated, high-performance Layer 3 blockchain
- Indulge in outrageously exciting games that will leave you thrilled
- Generate passive BetFi income as the House, unlocking new revenue streams
The Circulating Supply of DGTX Tokens: A Quantitative Overview
The entirety of the 9.2 billion (9,200,000,000) DGTX tokens are currently in circulation, with no reserves held by the founder or team. Notably, the DGTX minting keys and ownership keys have been deliberately destroyed, thereby rendering it impossible to create additional DGTX tokens or modify the token contract in the future. As a result, DGTX has evolved into a fully decentralized token, free from any centralized control or influence.
On Which Blockchain Does DGTX Reside?
The DGTX token is an ERC-20 token situated on the Ethereum blockchain. However, the innovative Digitex casino has been built upon our proprietary Layer 3 Digitex blockchain, thereby facilitating rapid confirmation times and eliminating gas fees, which are essential for revolutionizing the decentralized gambling landscape.
Consequently, we are developing a cross-chain bridge, enabling the seamless transfer of your Ethereum-based DGTX tokens to the Digitex blockchain. If you’re a DGTX HODLer with no intention of utilizing your tokens for betting purposes, you can simply retain them on Ethereum. However, if you’re eager to experience the thrill of decentralized betting, replete with zero fees on winnings, zero gas fees, and zero house edge, we invite you to bridge your DGTX tokens to the Digitex blockchain upon our mainnet launch.
Will DGTX Be a Deflationary Token?
Indeed, with the mainnet launch slated for Q2 2024, a designated portion of the fees accrued from ETH, USDC, USDT, and ARB winnings will be utilized to facilitate the daily repurchase of DGTX tokens from the market, subsequently burning them. This mechanism will effectively render DGTX a deflationary token, characterized by a perpetually decreasing circulating supply.
The Genesis of Digitex: A Brief Historical Overview
The Digitex initial coin offering (ICO) debuted on January 15th, 2018, with a successful sale of 650 million DGTX tokens at a nominal price of $0.01 each. The DGTX token served as the native cryptocurrency of the Digitex Futures Exchange, a pioneering zero-fee crypto futures exchange that derived revenue from minting and selling DGTX, thereby eliminating the need for transaction fees on trades.
In October 2018, DGTX held the 61st position among the largest cryptocurrencies, boasting a market capitalization of $160 million. However, despite concerted efforts to propel the project forward, the flawed tokenomics model, which relied solely on minting as its sole revenue stream, ultimately precipitated an unrecoverable downward spiral, culminating in the exchange’s cessation of operations in May 2022.
This would typically mark the demise of a failed cryptocurrency venture. However, Digitex’s founder, Adam Todd, is not one to concede defeat readily. Rather than embarking on a new project with a novel token, he seized the opportunity to revitalize Digitex and afford DGTX token holders a second chance at success.
Digitex: Pioneering Decentralized Gaming on a Layer 3 Blockchain
Digitex is pioneering a decentralized gambling revolution, offering a seamless experience with zero gas fees for placing bets and instantaneous transaction finality.
Digitex is poised to revolutionize the gaming landscape as the world’s sole decentralized casino, offering a seamless user experience that rivals its centralized counterparts. With lightning-fast gameplay and effortless, one-click bet submission, our platform ensures that players maintain absolute control over their funds, securely stored in their personal wallets at all times.
This is all made possible by operating the Digitex casino on our proprietary, dedicated Layer 3 blockchain. Leveraging the same battle-tested technology that underpins the Arbitrum network, namely Arbitrum Orbit, the Digitex blockchain boasts blistering speed and ultra-low gas fees, enabling us to offset players’ gas costs from house profits.
By wagering with DGTX tokens, you enjoy the unique advantage of zero fees on your winnings. As a result, Digitex stands out as the sole online casino where the house edge is effectively eliminated, courtesy of DGTX token ownership.
When wagering with ETH, USDC, USDT, or ARB tokens, a 3% fee is incurred on every winning payout. However, by holding one or more Digitex High Rollers NFTs in your betting wallet, you can enjoy a reduction in fees on winnings, ranging from 30% to a complete waiver of 100%.
You can assume the role of the player or the house. As the latter, you can deposit liquidity into the house’s bankroll smart contract, thereby serving as the counterparty to our players’ bets and earning a passive income through BetFi, generated by the 3% fee levied on winnings.
As a decentralized protocol, Digitex adopts a unique approach to fee distribution, where all fees generated from winnings are shared among the ecosystem’s key stakeholders. These beneficiaries include house bankroll liquidity providers, participants in the refer-a-friend program, game developers, and chain validators, who collectively contribute to building, operating, promoting, and securing the platform.
A third of all fees garnered from winnings are allocated towards repurchasing DGTX tokens from the open market, subsequently burning them, thereby rendering DGTX a deflationary token with a tangible, inherent utility.
Presently in the midst of active development, we anticipate the inaugural launch of the testnet versions of the Digitex casino and the Digitex blockchain in Q4 2023.