lifting: Betex: The Future of Binary-Based Binary Trade

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transparency to the financial derivatives market as well as creating new instruments that will eventually terminate outdated shady schemes.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 smartest Ethereum 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.

As with any traditional investment, there is always room for fraud. There are also third-party intermediary issues and large transaction costs associated with it. Blockchain technology solves both problems - a fact that Betex greatly realizes.

The Betex platform, using blockchain technology to offer transparent peer-to-peer derivative trading. This basically means that users will be able to bet on future results without the use of intermediaries or intermediaries. Due to blockchain, users will be able to access real-time data, which generates Betex which offers high levels of transparency and data accuracy to its members. The benefits of blockchain are crucial to ensuring that the platform achieves its goal of revolutionizing binary options trading completely.

With traditional trading, companies and brokers can manipulate systems that result in huge losses for investors. With Betex, the platform itself can not bet and receive revenues from service charges that apply to its users. Users will also save money because the platform does not require a deposit before the members start betting. Another benefit of the blockchain-based platform is that it leverages smart contracts to facilitate direct payments of ETH users' wallets without delay.

Similarly, brokers in the Betex platform stand to benefit equally by improving themselves to new technology platforms. Those connected to the platform are eligible to receive a 2% commission on all bets. As the turnover increases, their income also increases proportionally.

Stable Bets and Betex MVPs

Betex will use SBT (Stable Betting Token) as a medium of exchange on the platform because it will be used for bets and payments. However, the Betex token is the primary token. It has security characteristics, and will therefore be registered with the SEC and other regulatory authorities.

Betex works on an innovative business model, where most of the funds, as much as 95%, are distributed among successful merchants. In addition, 2.5% of the remaining 5% will be distributed among platform token holders.

The platform also creates a general pool of liquidity for each asset. This will maximize the acquisition received by the user. Betex already has a MVP created to provide a better understanding of the common pool liquidity concept that is implemented in the platform. Both versions are available in GoBet.io and Betex.io. At the MVP stage, the platform supports 3 trading pairs and 6 trading intervals.

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 the total turnover of the platform will be distributed among Betex token holders, 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 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.

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

Betex token distribution

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

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).

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;