The Digitex (DGTX) token
The minting keys and admin keys of the DGTX token smart contract have been burned, making DGTX a truly decentralized, deflationary cryptocurrency under nobody's control.
The Digitex casino and blockchain exist to create utility and demand for the Digitex (DGTX) token. There is no immediately obvious financial incentive for this because the casino holds no treasury of DGTX tokens, the entire supply of DGTX tokens is already in circulation and it's impossible for the Digitex project to mint any more DGTX tokens. So why does the Digitex casino exist to create utility and demand for DGTX?
The reason for this is because the founder and developer of the Digitex casino and blockchain, Adam Todd, embarked on a previous project called Digitex in 2018 that ultimately failed in 2022. DGTX was the native token of that failed project which meant the community that supported him were left holding a worthless token with no utility. Digitex 2.0 aims to fix that by creating utility and demand for the DGTX tokens held by the original Digitex community.
The Digitex casino and blockchain creates demand for DGTX in the following ways:
- Zero fees on your winnings when betting with DGTX tokens
- DGTX buy back and burn program funded by fees on winnings
- Stake DGTX as a chain validator to secure the Digitex blockchain
DGTX is therefore one of the very few cryptocurrencies in existence that serves purely as a utility token for the benefit of the community with no other ulterior motive of making money for the project through token issuance or selling tokens from the treasury. We already did all that, now it's payback time.
Last modified 4d ago