Providence, Seychelles, October 19, 2020 – Digitex Ltd, a commission-free cryptocurrency futures exchange, has announced that it will be launching a generous DGTX Rewards Program with Uniswap, the world’s largest decentralized exchange. Already under development and anticipated during the second half of November, throughout the first month of the program in a kickoff campaign, participants can share in a total reward pool of 5 million DGTX.
As the largest DeFi protocol currently with some $2.7 billion of value locked in, Uniswap allows its users to provide liquidity to the exchange through a process called pooling in which they deposit cryptocurrencies in the liquidity pool to earn a share of the fees paid out in trading. Unlike on other DEXs that often suffer from a lack of liquidity, Uniswap’s pools are created using 50% ETH and 50% of the selected token to ensure liquidity is maintained.
Digitex CEO Adam Todd said:
“Allowing DGTX holders to pool ETH and DGTX will massively incentivize on-chain liquidity of the DGTX token. Not only will we see huge interest from participants looking to earn high rewards in a safe environment but through Uniswap we can draw new eyes to our project and grow our userbase. This is a win-win situation all around.”
To participate in the program, token holders must create a new pool token (called ‘Digiteth’) on Uniswap by locking away an equal amount of DGTX and ETH. They must then visit DigitexCity.com, deposit these pool tokens into their staking wallet, and collect their rewards when they withdraw the funds.
For the first month of the campaign, Digitex will allocate a massive 5 million DGTX for staking rewards which will be paid out daily and proportionally to the percentage of tokens that holders stake. This means that there will be 166,666 DGTX tokens up for grabs divided among pool token holders.
“The DGTX rewards program allows our community to participate in DeFi-style initiatives in a safe and trustworthy environment on the Digitex platform. We’re really excited about this development and the first step in our evolution to Digitex City,” Todd added.
Digitex initially launched its zero-fee cryptocurrency futures exchange based on trading with its native DGTX currency. However, after noting that DGTX volatility was keeping some larger traders at bay, the company announced the launch of Digitex City, version 2 of Digitex Futures, which will have a new native stablecoin (DUSD) built-in. The new platform will feature a zero-fee spot and forex market, as well as its flagship futures exchange.
Digitex City will be built into an entire ecosystem of cryptocurrency users with additional features such as a fully-featured social network, and gambling applications. The first version of Digitex City will open its doors on December 15.
To find out more about Digitex City, please visit here.
To find out more about the DGTX Rewards Program, please visit here.
About Digitex Ltd
Digitex Ltd is a zero-fee cryptocurrency exchange with its native DGTX token. The exchange’s flagship product is futures, however, it will be launching spot market trading as well as non-custodial accounts. Registered in the Republic of Seychelles, the company was founded by a former futures trader and betting-exchange trader and has developed a revolutionary token issuance revenue model for sustainably operating an exchange without charging commissions.