What is Digitex and why investors are going crazy you can read on our fully explained article here.
First tokens was sold out in 17 minutes
In first Digitex ICO tokens sale that took place in January company sold out 650 million DGTX tokens in 17 minutes, raising a total of $5.4 million from 2,530 buyers.
There was massive demand for DGTX tokens and another 10,000 people who tried to buy DGTX tokens were refunded because all available tokens was sold out so quickly. There were thousands more people who planned on buying DGTX tokens later that day or later in the week who also missed out.
Company announces that they have bought back a large number of tokens from a whale and 100m DGTX tokens will be sold to the public in Post-ICO DGTX Token Auction.
Auction date: 09:00 am EST on Thursday, February 15th, 2018
Tokens for sale: 100,000,000 DGTX tokens (10% of total supply)
Token sale mechanism: reverse auction
Accepted currency: Ether (ETH)
Finish date: 23:59 pm EST March 15th or when all DGTX tokens have been sold
WHERE TO BUY
You will be able to buy DGTX tokens starting February 15th HERE.
What is reverse auction?
In a reverse auction the token price starts high and then drops every hour. As the price continues to drop, buyers send ETH to the token auction smart contract when it reaches the price at which they are willing to pay.
The final price of DGTX is set when the amount of money raised divided by the available tokens is equal to the auction price. At this point 100m DGTX tokens will be distributed to all the buyers at the final price. Every buyer will receive DGTX tokens at the same final price after the token auction has ended.
The reverse auction mechanism was chosen to give more buyers the chance to buy DGTX tokens and to avoid another 17 minute sellout as happened in the Digitex ICO on January 15th.
Here’s a reverse auction explained by DIGITEX CEO Adam Todd: