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Hong Kong — Betex Lab Limited announced a crowd sale campaign for its project Betex, the first ever transparent binary options platform. With a unique business model, the company is aiming to improve the existing derivatives’ market by using the Ethereum smart contracts. Only qualified investors who have completed the KYC/AML procedure will have access to the Betex Token pre-sale.
Betex is an innovational peer-to-peer platform for trading derivatives based on the blockchain. Initially, Betex will allow binary options trading, and add other, more complicated derivatives later on. Contrary to the traditional platforms, Betex users bet against each other, which allows full transparency.
Betex business model allows minimizing risks regardless of the number of brokers and users. e pool liquidity will be ensured by the general pool of all brokers who will connect to the platform via white label scheme and won’t be able to scam either the traders or the platform. 95% of the pool will be distributed among the winning traders, while the commission of Betex will be 5% only (thereby, 2.5% will be transferred to the holders of BETEX tokens).
“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 exist,” explained Oleg Torkhov, CEO of Betex. “All transactions will be publicly available for any checks. No one, including the platform, will be able to influence the process.”
BETEX tokens will be sold according to the SAFT agreement within 3 stages:
• BETEX Token Pre-Sale Round 1 – (04.12.2017 – 20.12.17)
• BETEX Token Pre-Sale Round 2 – (10.01.18 – 31.01.18)
• BETEX Token Sale – (TBA, 2018)
As BETEX has features of securities, it will be registered with SEC and other corresponding authorities. Moreover, only qualified investors who have passed KYC/AML procedure will be admitted to the pre-sale. BETEX tokens will be distributed to the holders after the general token sale that will be held in 2018 and announced later.
“We are aiming to attract funding of $4,750,000. is budget will cover 1 year of active development and promotion of the project,” added Mr. Torkhov.
The platform’s MVP is already available on two websites — https://Betex.io and https://GoBet.io — which allows showing the advantages of the common liquidity pool concept. e commercial launch is planned after the testing is successfully over.
Betex white paper, together with a detailed roadmap, team, and token sale conditions are available on the official website.
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Source : Bitcoin