DGTX Token

DGTX Unleashed: Powering the Digitex Decentralized Ecosystem

Adam Todd

September 21, 2023

For all the token holders who have been patiently holding DGTX since the early days of 2018 and 2019 — yes, you have been promised high hopes for the DGTX token. For this reason, founder and CTO Adam Todd hasn't stopped; rather, he is fully committed and determined more than ever to carry out this promise. Whether you're new to our project or you've been patiently waiting for some time now, we invite you to read all the details about the new Digitex platform.  

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The New Digitex: Creating DGTX Demand and Utility


The Digitex casino isn't your run-of-the-mill online betting platform. Its mission goes beyond profits—it's designed to generate utility and demand for the DGTX token. This might raise eyebrows as the casino itself doesn't hoard DGTX tokens; the entire DGTX supply is already in circulation. 

So, what drives the DGTX token's privileged status within Digitex?

The reason lies in Digitex's founder and developer, Adam Todd, who embarked on the Digitex project in 2018, which regrettably faced challenges before a reboot in 2022. DGTX served as the native token of the original project, leaving its community with a worthless token. The new Digitex is on a mission to rectify this by breathing new life into DGTX, creating genuine demand and utility for the token held by the original Digitex community.

Fostering DGTX Demand: How Digitex Does It

 
Zero Fees on DGTX Winnings: DGTX's primary utility lies in zero-fee betting. This means that when you bet with DGTX tokens, you won't incur any fees on your winnings. This unique offering, combined with Digitex's zero gas fees, creates a gambling environment where players face no inherent disadvantage.

DGTX Buyback and Burn Program: Digitex has devised a mechanism to buy back and burn DGTX tokens using a portion of the fees collected from winnings. This program aims to reduce the circulating supply of DGTX over time, contributing to its deflationary nature. 

Stake DGTX as a Chain Validator: When Digitex's mainnet is launched, DGTX will play a role as the staking token for validators on the Digitex blockchain. Validators will post DGTX stakes, ensuring the network's security. Challenges can be initiated if discrepancies arise, ultimately preserving the integrity of the blockchain.

DGTX Deflationary Tokenomics


The deflationary nature of DGTX is powered by the buyback and burn mechanism. Here's how it works:
  • 0.5% of every winning bet denominated in ETH, USDC, USDT, or ARB is set aside for DGTX buybacks.
  • These funds are bridged from the Digitex chain to Arbitrum for buying DGTX tokens on Uniswap.
  • DGTX tokens are then bridged from Arbitrum to Ethereum before being burned.
  • The burning process is a publicly viewable and transparent process, ensuring accountability and trust.

Bridging Your DGTX Tokens to Arbitrum


DGTX exists on three different chains: Ethereum (Layer 1), Arbitrum (Layer 2), and Digitex (Layer 3). To use DGTX for gambling on Digitex, you need to bridge it between these chains, a seamless process that's quick, easy, and decentralized, all from within your Digitex casino wallet.

How It Works


First, if your DGTX tokens are on the Ethereum Layer 1 blockchain, you can bridge them to the Arbitrum Layer 2 blockchain. This transfer typically takes about 10 minutes and incurs a small fee, depending on current Ethereum gas prices. Once your tokens are on Arbitrum, you're ready for swift and economical transfers within the Digitex ecosystem.

Transferring DGTX tokens from Arbitrum to Digitex or vice versa is a breeze. These transactions are not only instantaneous but also incredibly cost-effective, with fees ranging from a fraction of a cent to a few cents. You can manage all these bridging operations directly from your Digitex casino wallet, ensuring a decentralized and non-custodial experience.

Behind the scenes, what happens when you bridge DGTX tokens is that your original tokens are locked up in a smart contract, while an equivalent amount of new DGTX tokens are minted on the target blockchain. This 1:1 backing mechanism ensures that the circulating supply of DGTX remains consistent across different chains. So, no matter which blockchain you're on, you can enjoy your Digitex Casino adventures with confidence and ease.

DGTX Supply Stats


  • Token Standard: ERC-20 on Ethereum
  • Total Maximum Supply: 9,200,000,000 DGTX
  • Circulating Supply: 9,200,000,000 DGTX

It's important to note that the entire maximum supply of 9.2 billion DGTX tokens is already in circulation. The Digitex team has no control over the DGTX token smart contract, ensuring transparency and trust within the community. The DGTX minting keys and admin keys were burned earlier this year so its impossible to increase the supply for any reason.

 If you'd like to engage in our live discussions and stay connected with the Digitex community, join us on Telegram here.

ABOUT THE AUTHOR

HMFIC at Digitex

Adam Todd

I'm the lead developer at Digitex, a decentralized casino and Layer 3 blockchain aiming to revolutionize online gambling.

With zero gas fees to place bets, Digitex will open up decentralized gambling to players of all sizes. And if you bet with DGTX tokens, you pay zero fees on your winnings.

And on the subject of betting - don't bet against the guy who just keeps showing up :)