BETEX Is The Main Token In The System

INTRODUCTION

Binary options are financial derivative instruments that challenge traders to predict the true direction of price movements for underlying assets at any given point in time. The forecast horizon varies from a few minutes to several months. To receive revenue because it has determined the right direction, where the underlying asset price happens to move, the merchant may use the binary option rather than actually buying the asset. So, enough to forecast one of two possible options - increase or decrease in price. If the assumption is accurate for a given moment in time and an asset price change in the direction shown, the trader earns.

And on the contrary, they lost. Each trade pair consisting of quotes (currency, index, stock, metal, mineral, oil, etc.) can be considered as a basic asset for binary options.

Historical and economic background

The first organized binary option occurred in the US in 2008. In early May 2012, the Cyprus Securities and Exchange Commission (CySEC) entered the Binary Option into a list of financial instruments recognized by the law of the Republic of Cyprus concerning Investment Services, Activity and Market Investment Regulated in 2007 .

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 tens of billions of dollars in its annual turnover.

But something is wrong there. In the following years, regulators from around the world have made rather strong statements, claiming that the binary option is a ruse and discourages traders to get involved.

Example

The American regulator has issued a "Warning to Investors", which explains that the legitimate platform for binary option trading should be listed with authority and adhere to a set of rules. However, no web-platforms, brokers, or anything else, have relevant registrations in the US.

Mission

BETEX is a mission to bring clear transparency to all financial markets and, which can conclusively eliminate the issue of trust. First and foremost, we strive to rediscover binary options through inculcating improper business logic into everyone's value system.

ECOSYSTEM BETEX

Basically, you can access and interact with the Betex ecosystem, being:

▸ Merchants
▸ Investors
▸ Broker

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

BETEX TOKEN MECHANISM
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.

Token Betex

BETEX is the main token in the system. 50% of platform commission revenue is distributed among holders of BETEX tokens at ETH. BETEX is issued once in the amount of 10,000,000 tokens. After that, the quantity remains constant.

Two pre-sale sales of BETEX tokens under SAFT (Simple Agreement for Future Tokens) are successfully completed. Benefits received between platform launch and actual distribution of BETEX tokens, will be accumulated at public Ethereum addresses and will be distributed among BETEX tokens
holders for 2 weeks or less, after distribution event is complete. The BETEX token distribution is planned to take place in April 2018.

BETEX PLATFORM

Business model
Betex is an innovative peer-to-peer platform for financial derivatives trading, using the Ethereum smart contract. The binary option will serve as the main derivative to get started. Then, other more complex instruments will be integrated.

Unlike traditional binary option trading, Betex users place bets against each other. To our knowledge, this is the only platform, where as much as 95% of the funds are distributed among merchants, who make the correct assumptions. In addition, they form a massive liquidity pool for each base asset to maximize users' profits.

Backed by the Ethereum smart contract, Betex brings undeniable transparency, fair behavior and auditable results into Binary Option trading. 5% of total transactions (bets) are platform commission income.
All operations in the system are performed in the Ethereum SBT token of the ERC-20 standard with a stable value of $ 1.00.

GENERAL POOL LIQUIDITY

For each trade pair, all types of brokers will be unified to form a general set of liquidity, rather than making one small pile. This business model allows brokers to work together, as a unit, but does not require to transfer their users elsewhere. This is possible because all bets are placed with the Ethereum SBT token and then stored in the Ethereum blockchain system. All transactions are public and available for verification at any time. No one, including the platform provider, can change the process. Thus, forming a pool of liquidity together with the use of the Ethereum smart contract, will eventually eliminate the need for mutual trust during the process and make manipulation impossible, while maintaining high liquidity for every trading partner.

TOKEN SALES

Summary of Crowdsale
BETEX token sales will be done in the first two stages and one main stage.

▸ BETEX Pre-Sale Token, Round 1 (04.12.17 - 08.01.18)
▸ BETEX Pre-Sale Token, Round 2 (10.01.18 - 18.02.18)
▸ BETEX Token Sale (01.03.2018 - 31.03.2018)

During the initial round of BETEX token sales, the token will not be transferred to the buyer. Under the SAFT (or similar) agreement, the token will be transferred to the contributor later, once created.

Use of sales results

During two pre-sale rounds selling BETEX tokens, we expect to attract funding of $ 4,750 million. The distribution of project costs is shown in the diagram below.

This budget is designed for 1 year of active development and project promotion. According to our calculations, these funds will be sufficient to implement all planned technical solutions, comply with applicable regulatory requirements, provide legal support, fund research, finance marketing activities and cover operational costs.

ROADMAP