In an eleventh hour announcement, the anticipated Digitex Futures platform has postponed its launch, hurling the linked DGTX token tumbling in price.
Digitex, a crypto futures exchange devoid of trading fees, planned to introduce its product on April 30, 2019, just four days from now. Digitex has, however, decided to postpone the product launch indefinitely, according to a post today on the company’s official website.
“The Digitex Futures team announces with great regret that the much-anticipated launch has been postponed until further notice,” the Digitex post stated.
Platform Dev Team Lagging
Digitex engaged Spotware, a known dev outfit, to assemble “the final build of the exchange,” the post claimed. However, these developers failed in their goal to produce an adequate product up to the required standards. Previously and up until this blunder was discovered, Digitex states it found the Spotware team had “an unblemished reputation for building robust exchange software.”
In a roughly made explanation video, displaying evident frustration and anger on the news and the product received, Digitex founder and CEO Adam Todd detailed that Digitex does not need to completely start over from scratch. “We’re not going back to square one. We’re going back to a solid code base that we had, building up a team around it,” he mentioned.
Todd stated he is setting up a leading team of which he will be highly demanding of for them to build a proper product. Pertaining to current and forthcoming developers underemployment by Digitex, Todd said, “For the next three months I’m just going to demand everything they’ve got.”
“This second episode has just shown me, you know, I need to be a lot more involved in the development,” Todd also added.
The post noted Todd “says that he takes full responsibility for placing his trust in the wrong developers, missing the launch, and letting the token holders and the team down.”
As recent as this week, CryptoPotato published an article which quoted Todd as claiming he had a goal to surpass the well known exchange BitMEX. “I Really Want to Take BitMEX Down,” Todd said.
In a sharp and swift response to the latest news, Digitex’s token, DGTX, plummeted in price. As of press time, the asset has dumped more than 70% regarding price action over the last 24-hours, at a resting price of around $0.03 according to data supplied by CoinMarketCap.