Betex

Peer-to-Peer Binary Options Platform

Introduction

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.

Binary Options is a financial derivatives instrument that requires traders to correctly indicate the price movement direction for the underlying asset at a given point of time in the future. The forecasting horizon can vary from a few minutes to several months.

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.

Our Platform

During the two preliminary rounds of BETEX token sale, we expect to attract financing 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 sufficient to implement all the planned technical solutions, comply with certain applicable regulatory requirements, provide legal support, fund research, finance marketing activities, and cover operational expenses.

In order to clearly demonstrate the benefits of the common pool of liquidity concept, already two instances of the platform has been launched as MVPs in the test net. They are located at https://Betex.io and https://GoBet.io.

Powered by Ethereum smart contracts, Betex brings undisputable transparency, fair conduct, and auditable results to the binary options trading.

About binary optionsBinary 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.

Betex 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

As the diagram below shows, all elements of the ecosystem are interconnected with Ethereum blockchain and smart contracts, which, in this case, play a role of backend. This form of organization provides many advantages but has one major drawback — the limited scalability.

Bettex For Traders

Users can access and interact with Betex via:
▸ Web-based interface — ready;
▸ Mobile applications — in development;
▸ Desktop applications — in development;

Here‘s how our web-based user interface looks like (night mode is available too):

Bettex 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 define their share of the aggregate amount of distribution made to token holders.

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.

Betex Token Sale

BETEX token sale will be carried out in two preliminary stages and one main stage.
▸ BETEX Token Pre-Sale, Round 1 (04.12.17–08.01.18)
▸ BETEX Token Pre-Sale, Round 2 (10.01.18–18.02.18)
▸ BETEX Token Sale (01.03.2018–31.03.2018)

During the preliminary rounds of BETEX tokens sale, the tokens will not be transferred to the buyers. According to the SAFT (or similar) agreement, the tokens will be transferred to the contributors later, after they are generated.

After the main round of BETEX token sale, the BETEX tokens will be issued and transferred to the buyers directly within 7 days after TGE (Token Generation Event).

Important! The sale of BETEX tokens during ALL rounds is subject to satisfactory KYC/AML procedure.

Any of the BETEX tokens that are not sold during one of the rounds will remain at the company‘s disposal.