Ask Me Anything -- Adam Todd


#1

Yo, welcome to the new forum! I’ll get things kicked off with this thread where you can ask me anything and I’ll drop in regularly and try to answer all your questions.

It’s been a few months since our successful ICO that sold out in 17 minutes and we’ve spent that time focused on the successful development of the Digitex Futures Exchange trading platform. The successful launch of a fast, stable trading platform will create a very nice price bump for the DGTX token, and so for the past couple of months I switched away from marketing to focus on development of the product. Now that development of the futures exchange software is in full swing by our in-house team in Dublin, I’m switching my attention back to marketing to ensure a successful launch when the trading platform is opened to the public in Q4.

I believe the best way to ensure success is to create and nurture a large audience of cryptocurrency investors/traders/freaks through the creation of high quality, niche content on our brand new crypto blog that launches next week. Quality content combined with an effective refer-a-friend system will be a killer combination and will help us build a huge email list. Launching the futures exchange platform to a large audience/email list who are excited to trade on liquid futures markets with no trading costs will create a significant increase in demand for DGTX tokens.

So that’s it in a nutshell. Development is going well and we’re gearing up our online marketing ready for the launch of the futures exchange in Q4. Any questions just ask!


#2

Hi Adam! Thank you for this project as it brings awesome feature everyone was looking for tens of years - commission free exchange.
I’m not sure if anyone has brought it up yet… I have a question regarding automated trading bots. They have 200 million DGTX tokens as of now. Is there any way they run out of DGTX? Let’s say in a bull run where more people go long and make massive gains.

Continue the hard work!
Thank you
radim98


#3

Dear Adam,

Thank you for allowing us the opportunity to inquire.

  1. As you saw from the reverse auction, there has been some folks who have held doubt on Digitex. Though for the initial investors, it was still a great outcome, the grandest speculation we continue to witness within Telegram is price speculation. Given that the auction did not hit the price points as some desired , do you still foresee that Digitex will perform within the fabric of your earlier prediction?

Thank you,

Sincerely,
James


#4

Hi Adam!

  1. Will there be a facility to paper trade so people can practise safely without risking any tokens?

  2. Any plans for a beginners video to show and explain the basics of CFD trading? Experienced traders will take to it like a duck to water but for people that have only just learnt how to buy crypto, it may be daunting.

Cheers!


#5

Hi Adam.
Long time fan, first time caller. lol
Wanted to ask…

  1. Will you guys be doing any offline marketing/ direct marketing
    to any “Ïnstitutions” for example, and the likes?

  2. Do you see business partnerships developing with exchanges in
    the future, where users of a certain exchange can trade futures
    through them on the DGTX Platform?

  3. Any social events planned for the coming years?

  4. Also, what gym do you go to ?

When DGTX goes to $5 by next year, I’m thanking you with a surf trip to indo! :smile:


#7

Hello Adam, thank you for this great idea DigitexFutures.

My question is: What is the name of this type of trading surface?

I’ve read names like ladder or dom-trading. Are there any interesting pages where I and all members can read into this kind of trading.

So far I’ve only got to know the forms like Metatrader 4.0.

Many Thanks.


#8

Hi Adam!

Wanna ask you about how difficult it was to reorganize budget after ETH drop from 1300-1400 deep down after ico and post ico finish? Which parts of budget you totally cut off (not technical part we remember Apple monoblock! :smile:)

Thanks for opportunity to ask you something directly!

Artem!


#9

I operate daily futures on OKEX and BITMEX and both exchanges are connected to BOT: www.haasonline.com., HAAS is a reference for daytraders around the world! So I think creating a KEY API and linking DIGITEX to HAASONLINE will impose a brutal demand for DGTX tokens, since most of the BOT strategies depend on commission amounts, and with Digitex comission-free, we’re going to explode in volume fast! HAASONLINE will bring Digitex to the moon!


#10

I agree. I brought up automated trading in the telegram a while ago, but at the time they weren’t sure if it would be included. I suspect that there will be an API though. It seems like the natural thing to do. Perhaps as a phase 2, as I don’t think it was included in the original plan.


#11

Hi Adam,

It’s a great privilege to talk to you here.
I would love to ask this,
Will it be possible to finish up the Digitex Futures exchange in Q3?

I believe if the process is sped up and the platform get launched in Q3, the usage and volume would be very great and it will have a positive effect on the DGTX price before the year runs out.
Thanks ones again our CEO.


#12

Hi Adam
Well done for coming up with such a great concept - we all routing for you and your team to make it a great success- just a Q on the possible launch price of a Digitex token on the platform- will you create a value on that or will you just go with the ICO price ? How will you adjust the Digitex value on the platform if there a sudden up tick in value of the Digitex token - will you keep it rounded off to the nearest 10 and update it daily - :see_no_evil:Have no idea how this is going to roll out but can’t wait . Just holding thumbs you give us a early surprise :ok_hand:t2:
Hope to be scateboarding soon all the way to the moon :south_africa:


#13

Hello Adam, how is access or registration to the Digitex Platform designed? Will there be something like KYC Tier1 / Tier2 or other forms? Many Thanks.


#14

thanks radim98. The algorithm that the market maker bots is critically important to make sure they don’t lose all their money in such a situation. So when markets start moving in a straight line and the market makers are on the wrong side of it we may have to build in some kind of hedging mechanism that lets them offset their positions on other futures and spot markets.

Also, the market makers’ goal is to break even but that doesn’t mean that every trade they do will be a breakeven trade, in reality they will have lots of small profits which will then be wiped out by bigger losses when the market moves and so it might be normal that it happens every now and then.

We’ll be hiring an experienced High Frequency Trader to help us create and tweak the market maker algos because it is so important that the market makers dont go broke. But even if they did go broke it would simply mean that a large amount of DGTX had been won by other traders and this would likely lead to an increase in trading activity by those traders, but lets not plan on finding out if thats the case :slight_smile:


#15

Hi JamesZebra, thanks for the question, I think the reverse auction actually went well considering that we sold 10% of the total supply for double the price that we launched at one month earlier, and that was right after the crypto markets had their biggest price collapse ever. The price of every cryptocurrency collapsed literally the day after our ICO which was on January 15th and yet we still managed to double our price in the reverse auction on February 15th so I think that’s a good indication of the interest that exists in the Digitex project. If the markets hadn’t crashed I reckon the reverse auction would have sold out at 5 or 10 cents. Yes we started the auction off at 25 cents but that wasn’t us expecting to get that much, reverse auctions are supposed to start too high so they can then find their true value as the price drops.

But anyway, that’s just price speculation based on a good idea. And good ideas aren’t worth shit without great execution of the idea, and that’s what we’re doing now. The true value of the DGTX token will be figured out at crunch time when the Digitex Futures Exchange is launched in Q4. If the exchange is fast and stable and has thousands of traders on it then the DGTX token will easily reach the 25 cent level and will continue to climb higher as our markets get more and more liquid.


#16

Not sure if there will be a paper trading option, I’m not ruling it out am just not sure its something we’ll be including in version 1. With no trading commissions and a tick size of 1 DGTX token it’s cheap enough for a trader to play around with one lots, although as the price of the DGTX token increases it will become more expensive. Maybe when the DGTX token hits $1 we would reduce the tick value down to 0.1 DGTX to make sure that beginners and smaller traders can still play around whilst learning.

Yes we will be making videos and How To Trade guides before the exchange launches.


#17

Thank you very much Adam!
I was trying to figure that out because there would be a possibility of running out of all the tokens. I’m sure, you guys can figure that out for sure. :smiley:


#18

Dear Adam,

I hope you are well!

I agree that the the reverse auction was a great outcome! Looking forward to the future with Digitex!

Thank you for your response!

Sincerely
James


#19

Not sure how much marketing we will be doing to institutions. It’s not a bad idea, will look into it more. My belief is that most of our traders will be small retail traders but I’ve learnt not to assume anything with marketing so will look into it.

We’re open to all kinds of business partnerships in the future if they make sense for our users and will increase demand for DGTX tokens. We’re focused now on creating a solid first version but after the initial launch has calmed down we could consider it.

I’m not really a social events type of guy so I haven’t got any planned but now I think about it we should have some sort of shindig to celebrate the initial launch, right? I don’t know lets figure it out closer to the time.

I’m not a member of any gym. There’s some pull up bars by the beach that I skate by everyday and there I do pull ups, push ups, dips, sit ups, handstands, leg raises etc, its way better than going to an air conditioned gym :slight_smile:

Looking forward to that trip to Indonesia :smile:


#20

I’ve always called it a ladder trading interface, but other people call it a DOM which means Depth of Market. The ladder is easily the best type of trading interface for short term traders, its so nice, you can see the price moving literally up and down which lets you visualise exactly what is going on. When you get into the zone you can really see what is going on and you can react instantly by submitting trades with a single click and without needing to use the keyboard or move your mouse or take your eyes off the price for even a second.


#21

Ya the crypto crash was brutal! Literally one day after our ICO everything fucking collapsed! Then it stabilized a bit and started rising again and we did our post ICO token sale and then ETH crashed again immediately afterwards. We ended up selling 1200 ETH at $600 which I wasn’t happy about doing but it didn’t look such a bad price a week later when it was $350 and at least now we have enough cash to guarantee that we can launch the product. We kept the rest of the ICO and post ICO funds in ETH as we said we would.

Yes it sucks that our ETH is worth a third of the price it was when we got it but we still have enough money to cover all development and marketing costs for the rest of the year which means we will definitely be launching the Digitex Futures Exchange on time in Q4. Admittedly, we won’t have much, if any, money left by the end of the year (if the price of ETH doesn’t go back up at all in the next year) but at least the product is guaranteed to get built and as long as that happens the DGTX token’s value increases significantly and that bails us out.

With a DGTX token price of only 10 cents it doesn’t matter if we’ve run out of ETH because we have the option of selling some DGTX tokens to cover the continued funding of software development and marketing. We may only need $1m to cover dev and marketing costs for another year which we could raise by selling 10 million DGTX @ $0.10. I’ve personally got 40 million DGTX so if I have to give up 10m of them to keep things going then obviously I’m going to do that. And after that we can start the new token issuance system as planned in the whitepaper and from that point on the exchange can run with zero commissions indefinitely. At that point the Digitex Futures Exchange can generate its own revenue through new token issuance and it is the community of DGTX token owners that vote on how many new tokens get issued and when.

So the goals are still the same and while it sucks that we have much less money to spend on reaching those goals, we can and will still achieve those goals.