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Like many blockchain companies, 2019 didn’t start well for Digitex Futures. In January, the commission-free, non-custodial futures exchange postponed its beta launch to pool its resources for a robust public delivery in early Q2. Added to that, the general market conditions remained relentlessly bearish. Yet it was at this time that the company revealed another ambitious plan. The launch of the Digitex Treasury.
What Is the Digitex Treasury?
So, what exactly is the Digitex Treasury and why the need for one? Digitex Futures held an extremely successful ICO in January 2018. It sold out in just 17 minutes. However, while the rise of $5.2 million was exactly what the company was looking for at the time, its goals are continuously evolving, mirroring an evolving industry.
And with ambitious plans of taking on top exchanges like BitMEX and OKEx (Digitex will introduce commission-free spot trading later this year), the company realized that if it wanted to reach its lofty goals, it would need more funding into the future.
With more than one million people signed up to its public launch waitlist, there’s a clear demand for the project. And no lack of large investors willing to scoop up whale-sized amounts of DGTX, the exchange’s native token. However, having seen the power that whales can have over projects, the team didn’t want their operations to be at the mercy of a few influential investors.
The Digitex Treasury wasn’t something that the company dreamed up on a whim. After careful thought and consideration,