Powered by Ethereum smart contracts, Betex brings indisputable transparency, fair conduct, and audible results to the binary options trading.
With Betex, traders will be placing bets against each other and never against platform providers or any other intermediaries. Built with Blockchain technology, unlike traditional platforms, Betex will provide access to real-time data, thereby, ensuring absolute transparency of its system. So there is no doubt that all users are treated equally and fairly.
Users will be forming one large common pool of liquidity for each underlying asset in order to maximize users' gain. The platform's commission will be 5% only, the liquidity will be derived from a common pool of brokers, and brokers themselves will integrate into the platform via the white label mechanism. This is the only platform, where as much as 95% of funds are distributed among traders who make correct assumptions. 2.5% (half of the platform's commission 5%) of the total platform turnover will be distributed among the holders of BETEX tokens, accordingly to the number of tokens they own.
Betex was built with a mission of bringing clear-cut transparency to the financial derivatives markets as well as creating brand new instruments that would finally put an end to obsolete shady schemes. So now we are proud to introduce our leading-edge platform for peer-to-peer binary options, powered with Ethereum smart contracts.
Financial trading is about buying and selling in the hope of making a profit. Everyone wants to make profit in his investment. Therefore let me introduce you to a project called BETEX Website : https://betexlab.com/
What is Betex ???
Betex is a leading-edge platform for P2P financial derivatives trading. It enables users to place bets on future changes against each other.
As a platform provider, we cannot engage in betting. Thus, there is no way for us to benefit from it. We only profit from collecting service fees.
Built with Blockchain technology, unlike traditional platforms, Betex provides access to real-time data, thereby, ensuring absolute transparency of its system.
Determined to reinvent financial derivatives market, we strive to instill incorruptible business logic that would conclusively eliminate the issue of trust.
Mission
BETEX is on a mission to bring clear-cut transparency to all financial markets and, that can conclusively eliminate the issue of trust. First and foremost, though, we strive to reinvent binary options through instilling incorruptible business logic into everybody‘s value system.
BETEX ECOSYSTEM
Basically, you can access and interact with Betex ecosystem, being a:
▸ Trader
▸ Investor
▸ Broker
Binary options: basic concept
Binary options is a financial derivatives instrument that challenges traders to foresee the right direction of the price movement for an underlying asset at a given point of time in the future. Forecasting horizon varies from a few minutes up to several months.
To receive income for having defined the right direction, in which the price of an underlying asset happens to move, traders can use binary options instead of actually buying that asset. Thus, it is enough to forecast one of the two possible options — price increase or decrease. If the assumption is accurate for a given moment in time and asset price changes in the indicated direction, traders gain. And otherwise, they lose.
Any trading pairs that are comprised of quotes (currencies, indices, stocks, metals, minerals, oil etc.) may be considered as basic assets for binary options.
What is the BETEX platform?
Betex is a leading-edge platform for P2P financial derivatives trading. It enables users to place bets on future rate changes against each other. As a platform provider, we cannot engage in betting. Thus, there is no way for us to benefit from it. We only profit from collecting service fees.
What are the Benefits of BETEX
Both the platform and brokers can always prove authenticity and accuracy of the results. In the worst case scenario, if a mistake is made, it will be admitted or justified. Hence, it is no longer needed to trust each other to be sure terms are fair.
Trading is realized with ERC-20 tokens of stable value. It is stored and presented in the Ethereum blockchain, making it possible to audit the platform operations in real time, or later. Open access to data prevents intermediaries from altering results;Whitepaper : https://betexlab.com/betex-wp.pdf
50% of the platform’s profit made from commission is distributed among BETEX token holders. 40% goes to brokers.
Architecture and technology
Betex architecture is based on two major parts:
▸ Smart contract systems (to ensure transparency of bets).
▸ An oracle providing the reliable data on occurring events to a smart contract (in particular, exchange rates).
Solutions and Benefits
▸Outcome of a bet makes no difference to us (as the platform provider), or to brokers, as neither of us can actively take part in the betting process. We charge service fees, while traders place bets against each other (peer-to-peer).
▸ No deposits are required and an instant automatic withdrawal of funds is ensured. It is mainly possible due to the use of smart contracts.
▸ Traders who accurately determine future changes are rewarded with 95% of funds. In case of success, trader‘s gain largely depends on the ratio of the correct and incorrect outcomes;
▸ Both the platform and brokers can always prove authenticity and accuracy of the results. In the worst case scenario, if a mistake is made, it will be admitted or justified. Hence, it is no longer needed to trust each other to be sure terms are fair.
▸ Trading is realized with ERC-20 tokens of stable value. It is stored and presented in the Ethereum blockchain, making it possible to audit the platform operations in real time, or later. Open access to data prevents intermediaries from altering results;
▸ 50% of the platform's profit made from commission is distributed among BETEX token holders. 40% goes to brokers.
▸A composite rate, used in all calculations, is derived from several open sources by an established algorithm, considering the value of each source that is defined by trading volume. Using multiple sources makes entangles possible manipulations with the rate of an underlying asset, since they would have to be done in several places simultaneously. Working out of the composite rate is a
completely open and transparent process: it is being logged and presented for public access in real time ANN Thread : https://bitcointalk.org/index.php?topic=2518678
To raise funds for the platform’s development and promotion, Betex is holding an ICO campaign and selling BETEX tokens. 2.5% of the platform’s turnover will be distributed among the BETEX tokens holders, according to their investments.
Betex pre-sale is held in 2 rounds, one of which is already live. Tokens will be issued in accordance with SAFT agreement after the pre-sale, once they are generated and registered. The details of the pre-sale can be viewed below:
Start of pre-sale round 1:
04.12.17 at 14:00 GMT
End of pre-sale round 1:
08.01.18 at 14:00 GMT or 500,000 of BETEX tokens are sold out
Pre-sale round 1 BETEX token price:
$2.00 Max amount of tokens to be sold: 500,000 out of 10,000,000 (5%)
Pre-sale round 1 hard cap:
$ 1,000,000
Min purchase amount:
15,000 BETEX
Start of pre-sale round 2:
10.01.18 at 14:00 GMT
End of pre-sale round 2:
31.01.18 at 14:00 GMT or 1,500,000 of BETEX tokens are sold out
Pre-sale round 2 BETEX token price:
$2.50
Max amount of tokens to be sold:
1,500,000 out of 10,000,000 (15%)
Pre-sale round 2 hard cap:
$ 3,750,000
Min purchase amount:
5,000 BETEX
PLEASE NOTE : Only qualified investors who have completed the KYC/AML process will have access to the Betex Token pre-sale. The timeframes and conditions of the general token sale will be announced later.
Betex ICO
- Betex token Start of ICO: 01.03.18 at 12:00 GMT
- End of ICO: 31.03.18 or 3,000,000 of BETEX tokens are sold out
- ICO BETEX token price: $3.00
- Max amount of tokens to be sold: 3,000,000 out of 10,000,000 (30%)
- ICO hard cap: $ 9,000,000
- Min purchase amount: 0.5 ETH or 0.05 BTC
Distribution of the Common Pool
The Betex platform earns on commissions from each transaction (bet). The commission is 5% of the
amount of each transaction (bet). The distribution of the total amount of transaction (bet) funds,
including the commission income, is presented below.
▸ 95% of the turnover will form the reward fund for traders. These funds will be paid out to traders
automatically, once each round is over.
▸ 2.5% of the total platform turnover will be distributed among the holders of BETEX tokens,
according to the number of tokens they own.
▸ 2.0% will be granted to the brokers, connected to our platform. Payments for the referrals will be
deducted from broker‘s commission.
▸ 0.3% will go to the permanent contributions to the project‘s development fund. A year after the
commercial launch, the project should break even.
▸ 0.2% of the platform‘s turnover will be transferred to the reserve fund. Its regular refill (from
each transaction) will cover unexpected costs, if they arise.
Betex tokens distribution
2017 Q4
╶ Launch and testing of the p2p binary options platform (MVP) in the test net;
╶ Pre-sale of BETEX tokens in accordance with SAFT or similar agreements;
╶ Audit of the platform‘s smart contracts;
╶ Web interface design of the section for p2p sports betting;
2018 Q1
╶ Addressing special regulatory/licensing requirements that may be applicable in the relevant
jurisdictions;
╶ Commercial launch of Betex, the p2p binary options platform;
╶ Development of the available trading pairs list;
╶ Launch and testing of the MVP‘s section for p2p sports betting in the test net;
╶ Development and testing of the mobile app for Android/iOS;
╶ Development and testing of the desktop client application;
╶ Development of a section with statistics;
╶ Development of a personal cabinet for BETEX token holders;
2018 Q2
╶ Commercial launch of the section for p2p sports betting;
╶ Connection of the first brokers to the platform;
╶ Development of an API for trading bots;
╶ Launch of the mobile app for Android/iOS;
╶ Running the desktop client application;
╶ Generation of BETEX tokens;
╶ Distribution of BETEX tokens among pre-sale participants;
╶ Distribution of the accumulated profit among owners of BETEX tokens;
2018 Q3
╶ Compliance with regulatory/licensing requirements that may be applicable in the relevant
jurisdictions to the main stage of BETEX token sale;
╶ The main stage of BETEX token sale;
╶ Development and connection of the FIX API;
╶ Development of the section for p2p betting on irregular events;
2018 Q4
╶ Network scaling and/or transfer to a more efficient blockchain;
╶ Launch of the section for p2p betting on irregular events;
2019 Q1
╶ Global market expansion & adaptation;
╶ Project‘s break even.
Team
- Oleg Torkhov,Co-founder & CEO
- Mykhailo Tiutin,Co-founder & CTO
- Mykhailo Savchuk,Blockchain & Back-end Developer
- Oleksii Koshlatyi,DevOPs & Infrastructure
- Oleksandr Babichev,Front-end Dev
- Iana Gyzhytska,Content Strategist & Writer
- Evgeny Zhytnyuk,Community Manager
- Anatolii Kucheruk,Smart Contract Developer
- Kostiantyn Kliuiev,PM/PO at BETEX
Advisors
- Scott Douglas,Business Strategy Advisor
- Kos Chekanov,Design Advisor
- Alexandr Kerya,Marketing Advisor
- Alexandru Radulescu,Trading Advisor
- Matyas Zaborszky,Strategic Advisor
- Steve Good,Business Strategy and Digital Marketing Advisor
- Vladimir Nikitin,ICO Advisor
Conclusion
Our team has developed what it believes to be the most honest, transparent and attractive type of binary options for users, which will restore the lost confidence in this derivative and bring its popularity to a new level. In the nearest future, we aim to make it possible to use transparent peer-to-peer binary options for the most popular cryptocurrency pairs.
Details Information :
Website : https://betexlab.com/
Whitepaper : https://betexlab.com/betex-wp.pdf
ANN Thread : https://bitcointalk.org/index.php?topic=2518678
Telegram : https://t.me/betex_ico
Twitter : https://twitter.com/betex_tokens
Medium : https://medium.com/@betex
Author : viarathel
Profile Bitcointalk : https://bitcointalk.org/index.php?action=profile;u=1275057
ETH : 0x354B4485f6133537148382d7022Be1b3c98Dbf95
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