BETEX: Derivatives Trading based on Blockchain Technology
Betex is introducing the decentralized derivatives trading wherein it allows binary options trading at its initial period. As an innovative peer-to-peer platform, Betex is bringing a new module to trade financial derivatives meaning the mechanism of these derivatives is built on Ethereum smart contracts.
Betex token Pre-sale and crowdsale
Investors who have completed the Betex KYC/AML procedure are qualified to the Betex token pre-sale. These tokens will be sold as per SAFT agreement and have three stages wherein Pre-sale will have two stages.
Pre-sale round 1 specification
Start of pre-sale round 1: December 4, 2017, at 14.00 GMT,
End of the pre-sale round 1: December 20, 2017, at 14.00 GMT or the earliest of 500,000 BETEX tokens sale,
BETEX token price at Pre-sale round 1: $2.00 Max amount of tokens to be sold: 500,000 out of 10,000,000 ( five percent),
Pre-sale round 1 hard cap: $1,000,000,
Min purchase amount: 15,000 BETEX.
Pre-Sale round 2 specifications
Start of Pre-sale round 2: January 10, 2018, at 14.00 GMT,
End of Pre-sale round 2: January 31, 2018, at 14.00 GMT or the earliest of BETEX tokens sale,
Pre-sale round 2 token prices: $2.50,
Maximum supply: 1,500,000 [15 percent],
Pre-sale round 2 hard cap: $3,750,000,
Min purchase amount: 5,000 BETEX.
Funds Distribution Process of BETEX
40 percent for Platform Development, 15 percent for Marketing, 15 percent for Legal support, 15 percent for operation costs, 5 percent for research and 10 percent for reserve.
Betex Encourages Full Transparency for Derivatives Markets
The platform allows users to bet on a future flexibility against each other and provide access to real-time data. Significantly, BETEX is defined by absolute transparency and the resolution of trust issues.
Built on Ethereum smart contracts, BETEX is reinventing the financial market derivatives and condense the risk concerning the number of users and brokers.
A Decentralized Way of Trading Derivatives
Complete access to real-time data which results in full transparency, accuracy and the similar mechanism for everyone involved in the process. However, the platform facilitates user to bet on future changes, but the company itself is not at all involved in betting. BETEX only gets service fees from the result of betting.
By creating one common pool for all trading asset, the platform determines higher liquidity across the derivative markets.
The BETEX platform support brokers set up their business in no time by providing white label model. Also, minimizes the entry and setup costs. The white label model doesn’t permit any scam over the platform.
Derivatives based on Ethereum smart contracts ensure immediate withdrawals and quick confirmation. With this, the payments are automatically transferred to user’s ETH address.
Moreover, users can access BETEX features without any initial payments or deposit.
Winning traders can get 95 percent of the pool whereas remaining 5 percent commission is for BTEX platform (2.5 percent is transferred to BETEX token holders).
Oleg Torkhov, CEO of Betex stated, “Our mission is to bring unprecedented transparency to the derivatives’ market, as well as develop the new derivatives, which won’t leave any chances for the old shady trading instruments to existing. All transactions will be publicly available for any checks. No one, including the platform, will be able to influence the process.”
The differences between traditional binary options and BETEX is shown by the table below:
BETEX will be registering with governing authorities including SEC following the token sale.
“We are aiming to attract funding of $4,750,000. This budget will cover one year of active development and promotion of the project,” added Mr. Torkhov.
The Betex MVP offers a clear understanding of the concept behind BETEX model and liquidity mechanism and to find out more about the project, you can read BETEX’s whitepaper.