Digitex Futures exchange has published a blog post announcing it is opening a new competition to encourage waitlist signups for its upcoming testnet launch. The new contest is open from September 9 and will distribute 5 million DGTX tokens via airdrop to the winners. It aims to emulate the success of previous campaigns, which have attracted over 1.5 million signups so far.
Whereas previous competitions focused predominantly on English-speaking markets, the new giveaway will have a more global reach. Traders from Japan, China, Russia, Korea, and English-speaking regions will have the chance to compete for 5 million DGTX.
Prizes are based on referral signups to the Digitex waitlist. The top ten referrers from each region will be eligible for the top prizes worth 50,000 DGTX, while the next 500 referrers will receive 1,000 DGTX each.
According to the Digitex team, winners of this competition will receive their prizes via airdrops to their respective exchange accounts once the platform goes live on the Ethereum mainnet.
CEO and Founder of Digitex Futures Adam Todd commented on this news:
“The Digitex waitlist demonstrates the massive demand for commission-free trading with so many people anxious for the product to launch. Now that we have a confirmed date for the testnet launch, we’ve decided to reopen the waitlist as a way to bring new eyes to the project. This gives new supporters the chance to win free DGTX, but also to become part of an epic game-changing project as well.”
To further appeal to users in these five specific markets, Digitex has recently added translations for its web pages and for the soon-to-be-released trading interface.
This latest giveaway aims to build momentum in the buildup to Digitex’s testnet launch, which it confirmed last month will take place on November 30. The testnet will include a host of user-friendly features, such as zero-fee trading and a one-click trading ladder interface, that will be tested by 10,000 real traders prior to the main exchange launch.
All futures contracts, regardless of trading pair, will be transacted in DGTX tokens. Initially, Digitex plans to go live with a single market which will be a BTCUSD perpetual swap futures market.
High usage capacity is also a priority for the initial launch. Digitex’s testnet is anticipated to handle as many as 50,000 transactions per second (tps) and 10,000 active traders at the same time but this capacity will increase over time as stress testing continues.
Digitex is also currently working on the development of non-custodial accounts. However, while these are still under development, users will be testing custodial wallets. Later iterations of the trading platform will be non-custodial, allowing everyone to have 100% control of their own wallets and contract funds. Once live, the company also expects to roll out more markets trading perpetual contracts against different coins.
The exchange is aiming to win over users in an increasingly competitive crypto futures market. Digitex will join established players like BitMEX and newer competitors, including two futures trading platforms from Binance as well as Bakkt’s institutional-focused exchange.