The launch of the highly anticipated Digitex Futures platform has been postponed ‘until further notice’, with the associated DGTX token plummeting in price as a result.
The commission-free exchange had been aiming to debut on 30th April. But Founder and CEO Adam Todd has now released an explainer video and public apology. “Development projects are often delayed due to various reasons. However, the Digitex team is fully aware that its credibility and reputation are now in question. After missing the Beta launch deadline earlier in the year, the company was extremely cautious about putting out the official launch date,” he said.
According to Todd, the 30th April date was announced “only after extensive and exhaustive discussions with the new development team Spotware, to which Digitex had outsourced the final build of the exchange. However, despite understanding and agreeing to the specifications given to them for the functionality of the exchange and the timeframe, the Cyprus-based developers who had (until now) an unblemished reputation for building robust exchange software, were unable to deliver.”
“I have been totally blindsided by this, really, really let down by Spotware,” Todd claimed in an online post listing a series of problems and flaws that have delayed the launch.
‘Not going back to a blank page’
So, where does Digitex go from here? After the ‘huge error’ of outsourcing its exchange technology to Spotware, the company says that it will not now attempt to develop an exchange from scratch. It insists that it has a well-built, fully documented codebase and will soon have a full development team once again working on bringing that to market as fast as possible. The plan is to have “a robust and launchable exchange in several months from now”.
“We’re not going back to a blank page, we have a code base that we built in Dublin. We were not happy with the time frame, which is why we went with Spotware, but we are now going to use the original code base and build up a team around that.”
Spotware did not respond to our request for comment.