Betex is a leading-edge platform for P2P financial derivatives trading. It enables users to place bets on future changes against each other.
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.
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.
Betex Ecosystem
Basically, you can access and interact with Betex ecosystem, being a:
▸ Trader
▸ Investor
▸ Broker
1.Betex for Traders (Bettors)
Users can access and interact with Betex via:
▸ Web-based interface — ready;
▸ Mobile applications — in development;
▸ Desktop applications — in development;
2.Betex for investors
Investors can interact with the platform through their personal dashboard where both platform‘s general and investor's personal statistics will be stored. After the main BETEX Token Sale (01.03.2018-31.03.2018) BETEX token holders will be receiving their share of the platform's profit made on commission (see section 7.3 for details). Number of tokens they own will directly definem their share of the aggregate amount of distribution made to token holders.
3.Betex for Brokers
In the first quarter of 2018, brokers will be offered a ready-to-use solution allowing engaging with the
platform by a known White Label principal. In other words, it will be possible to quickly implement
all the mechanisms and systems of our platform with a broker‘s own domain and user base. Also, Betex Lab Limited, as a developer of the platform, will provide consultations and technical support.
Betex Token
BETEX is the main token in the system. 50% of the platform‘s commission income is distributed
among BETEX token holders in ETH. BETEX is issued once in the amount of 10,000,000 tokens.
After that, its quantity remains constant. Two pre-sale rounds of BETEX token sale under the SAFT (Simple Agreement for Future Tokens) are successfully completed. The profit received between the launch of the platform and the actual distribution of BETEX tokens, will be accumulated on the public Ethereum address and will be distributed among BETEX token holders during 2 weeks or less, after the distribution event is over. Distribution of BETEX tokens is planned to take place in April of 2018,Please visit https://bitcointalk.org/index.php?topic=2518678
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
Our 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
Roadmap
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.
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 : araalfaris
Profile Bitcointalk : https://bitcointalk.org/index.php?action=profile;u=1116890
Eth Address Wallet : 0xD21b7600ff11bEfB00dff92252a16A2f2fdBF71a
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