We have good news for you. We are launching a revolutionary peer-to-peer platform for binary options, Betex, which will substantially improve how bets are made. We designed a very new business model to change the mindset of users from worrying about the integrity of platform providers to focus on their own capacity to generate profits.
With Betex, merchants will place bets against each other and never fight against platform providers or other intermediaries. Built with Blockchain technology, unlike traditional platforms, Betex will provide access to real-time data, thus ensuring absolute transparency of the system. So there is no doubt that all users are treated equally and fairly.
Users will form a large pool of liquidity for each base asset to maximize user acquisition. Platform commissions will be 5% only, liquidity will come from a collection of common brokers, and the broker itself will integrate into the platform through a white label mechanism. This is the only platform, where as much as 95% of the funds are distributed among merchants who make the correct assumptions.
We try to make the interface as simple as possible. The betting process looks like this: a trader takes one of the trading partners (Assets) and selects one of six trading intervals (Time), then decides the amount to be placed (Total Bets) and, finally, shows in which direction the price will move : Up (Call) or Down (Put).
Once the forecast results are known, the merchant token that makes a false prediction is shared among traders who make a correct estimate of the direction of price movements. At the same time, before paying the payment, this platform imposes a commission of 5% of the total bet amount placed.
During the initial two sales of Betex tokens, we expect to attract funding of $ 4,750 million. This budget is planned for 1 year of active development and promotion of the project. According to our calculations, these funds will be enough to implement all planned technical solutions, comply with applicable regulatory requirements, provide legal support, fund research, finance marketing activities, and cover operational costs.
Betex is built with a mission of bringing clear transparency to the financial derivatives market as well as creating new instruments that will eventually terminate outdated shady schemes. So now we are proud to introduce our cutting edge platform for the peer-to-peer binary options, backed by the Ethereum smart contract.
The Binary Option is a financial derivative instrument that requires the trader to precisely indicate the direction of price movement for the underlying asset at any point in time in the future. The forecast horizon can vary from a few minutes to several months.
Thousands of brokers and traders around the world massively used this instrument at the time. It is well-liked because of the simplicity of concepts and the likelihood of success. The industry is experiencing exponential growth until 2014, reaching more than $ 30 billion in its annual turnover. But something is wrong there.
In the following years, regulators from around the world have made rather strong statements, claiming that the binary option is a ruse and discourages traders to get involved. Evidently, the great concept behind Binary Options has been undermined by blind and dishonest brokers, their appetite for profit and the fact that there is limitless possibilities for them to deceive their customers.
To clearly demonstrate the benefits of the common pool liquidity concept, two examples of platforms have been launched as MVPs in the net test. They are at https://Betex.io and https://GoBet.io.
Backed by Ethereum's smart contract, Betex brings undeniable transparency, fair behavior, and auditable results into binary options trading.
Betex model: solutions and benefits
▸ The result of the bet is not
difference for us (as platform provider), or to broker, because no
none of us can actively take part in the betting process. We charge a service fee
, while traders place bets against each other (peer-to-peer).
▸ No deposit required and instant automatic withdrawal of funds
guaranteed. This is especially possible because of the use of smart contracts.
▸ Traders who accurately determine future changes are rewarded with 95% of
fund. In terms of success, trader profits depend heavily on ratios
true and false results;
▸ Both platform and
the broker can always prove the authenticity and accuracy of the results. In
worst case scenario, if an error is made, it will be accepted or
justified. Therefore, there is no need to trust each other to ensure that
the provision is fair.
▸ Trades are realized with ERC-20 tokens from
a stable value. These are stored and presented in the Ethereum blockchain, so
allows to audit platform operations in real time, or later.
Open access to data prevents intermediaries from changing results;
▸ 50% of platform profits made from commissions are distributed among holders of Betex tokens. 40% goes to the broker.
▸ The composite level, used in all calculations, is derived from several
open source by an established algorithm, taking into account the value of each
source determined by trading volume. Using multiple sources create
ensnare the possible manipulation with the underlying asset level,
because they have to be done in several places simultaneously.
Working from a combined level is a completely open and transparent process
: it is being recorded and presented for real public access
time.
Mission
Betex is a mission to bring clear transparency to all financial markets and, which can conclusively eliminate the issue of trust.First and foremost, we strive to rediscover binary options through instilling unfinished business logic into everyone's value system.
Betex MVP
We build two platform versions to give you a better understanding of the concepts behind the general liquidity pool and to demonstrate how it works.
Betex Token Mechanism
There are 2 tokens in the system: Betex and SBT.
- Stable Stake Token (SBT)
SBT (Stable Betting Token) is a token with a stable value of $ 1.00. This token is used to bet in the system, payment to winners and brokers. All operations are specified in the Ethereum blockchain. SBT tokens are published automatically by smart contracts with each exchange request.With reverse exchange, tokens are burned. Thus, the number of SBT tokens at any point in time reflects the amount of funds currently in the system.
- Betex Token
Betex is the main token in the system. 50% of platform commission revenue is distributed among Betex token holders in ETH. Betex is published once in the amount of 10,000,000 tokens. After that, the quantity remains constant.Two pre-sale sales of the Betex token under SAFT (Simple Agreement for Future Tokens) were successfully completed.
The gains received between the platform launch and the actual distribution of the Betex token will be accumulated at public Ethereum addresses and will be distributed among Betex token holders for 2 weeks or less, after the distribution event is complete. The distribution of the Betex token is planned to take place in April 2018.
Pool distribution:
The Betex platform generates commissions from each transaction (bets). Commission is 5% of the amount of each transaction (bet). The total distribution of transaction amount (bet), including commission income, is presented below.
▸ 95% of turnover will form a prize fund for traders. These funds will be paid to the merchant automatically, after each round ended.
▸ 2.5% of total platform turnover will be distributed among holders of BETEX tokens, according to the number of tokens they have.
▸ 2.0% will be given to the broker, connected to our platform. Payments for referrals will be deducted from the broker's commissions.
▸ 0.3% will get a permanent contribution to the project development fund. A year after the commercial launch, the project must break even.
▸ 0.2% of the platform rotation will be transferred to the reserve fund. The regular refund (of each transaction) will cover the unexpected costs, if it appears.
Betex ICO
Starting from ICO:
01.03.18 at 12:00 GMT
Final ICO:
31.03.18 or 3,000,000 BETEX tokens were sold out
ICO BETEX token price:
$ 3.00
Max number of tokens to sell:
3,000,000 out of 10,000,000 (30%)
ICO hard hat:
$ 9,000
Minimum purchase amount:
0.5 ETH or 0.05 BTC
Attention! To participate in ICO Betex, participants must complete the KYC procedure on their personal profile.
Token allocation
0.5% (50,000 BETEX) is reserved for reward campaigns. Token will be distributed as follows:
- Blog and Video bounty - 40% (20,000 BETEX);
- Twitter Prize - 40% (20,000 BETEX);
- Telegram Donation - 20% (10,000 BETEX).
Coming in 2018
- 5% Pre-Sales Token Round 1
- 15% Pre-Sales Token Round 2
- 40% Token Discount
- 2% Bounty
- 8% Reserve
- 30% Founder & Team
Betex brings with it transparency, fair fair, and unheard results for binary option trading. With Betex, merchants will place bets on each other and never fight against platform providers or other intermediaries. Built with Blockchain technology, unlike traditional platforms, Betex will provide access to real-time data, ensuring absolute system transparency. So there is no doubt that all users are treated equally and fairly. During the first round of pre-sales, Betex has raised $ 1,000,000.
We're excited to introduce Betex prize campaigns, great opportunities to help promote projects, and get some Betex tokens without investing. You need to do some tasks, which will be rewarded with a certain number of tokens. The prize begins on February 16, 2018, finally announced.
Roadmap
◼ 2017 Q4
╶ The launch and testing of the P2P platform platform (MVP) platform on the net test;
╶ Pre-sale of BETEX tokens in accordance with SAFT or similar agreements;
╶ Smart platform contract audit;
╶ Web interface design from parts for P2P sports betting;
◼ 2018 Q1
╶ Address specific regulatory / licensing requirements that may apply in relevant jurisdictions;
╶ Commercial launch of binary platform platform Betex, p2p;
╶ Development of a list of available trading partners;
╶ Launch and test the MVP section for P2P sports betting on net tests;
╶ Mobile app development and testing for Android / iOS;
╶ Development and testing of desktop client applications;
╶ Development of parts with statistics;
╶ Development of a private cabinet for holders of BETEX tokens;
◼ 2018 Q2
╶ Commercial launch of spare parts for p2p sports betting;
╶ The first broker connection to the platform;
╶ API development for trade bots;
╶ Launch of mobile app for Android / iOS;
╶ Run the desktop client application;
╶ Generation of BETEX tokens;
╶ Distribution of BETEX tokens among pre-sale participants;
╶ Distribution of profit accumulated among BETEX token owners;
◼ 2018 Q3
╶ Compliance with regulatory / licensing terms that may apply in related jurisdictions to the main stage of BETEX token sales;
╶ The main stage of BETEX token sales;
╶ FIX API development and development;
╶ Development of parts for p2p bets on unusual occurrences;
◼ 2018 Q4
╶ Network scale and / or transfer to more efficient blockchain;
╶ Launch Section for p2p bets on irregular events;
◼ 2019 Q1
╶ Global market expansion & adaptation;
╶ Project stage even.
TEAM
ADVISORS
For more information and accurate:
- ANN thread: https://bitcointalk.org/index.php?topic=2518678
- WEBSITE: https://betexlab.com /
- WHITEPAPER: https://betexlab.com/betex-wp.pdf
- TWITTER: https://twitter.com/betex_tokens
- FACEBOOK: https://www.facebook.com/Betex-Lab-108138139938618 /
- TELEGRAM: https://t.me/betex_ico
- MEDIUM: https://medium.com/@betex
Author: enno.netral
Bitcointalk Profile: https://bitcointalk.org/index.php?Action=profile;=1785586
Eth: 0xbDF56fAC1d4b6591178a8bc94A53B01F1fec2861
