Betex is a leading platform for P2P financial derivatives trading.

hallo friends meet again with me, today I will introduce a new project in the world of cryptocurrency named Betex. In this article I will cover in detail the greatness of Betex, let us look below:

What is Betex?

Betex is a leading platform for P2P financial derivatives trading. This allows users to place bets on future changes against each other. As a platform provider, we can not engage in bets. Thus, there is no way for us to benefit from it. We only benefit from collecting service fees. Built with Blockchain technology, unlike traditional platforms, Betex provides access to real-time data, thereby ensuring absolute transparency of the system. Determined to rediscover the financial derivatives market, we strive to instill unfinished business logic that will conclusively eliminate the issue of trust.

Advantages of Betex platform:

Transparency:

Blockchain technology will provide open access to information at all times, ensuring transparent processes, accurate data, fair and equitable requirements.

Fair Billing:

Whatever your bet results, we will benefit from service charge collection.

General Liquidity Association:

The goal is to consolidate the maximum liquidity of the derivatives market by establishing a common set of liquidity for each commercial source rather than creating multiple.

White label for brokers:

This system will enable quick connections from brokers that contribute to maintaining high liquidity and ensuring increased platform rotation in a short time and at low cost.

No deposit:

Platform users will have instant access to all functions and resources without having to make any type of deposit first.

Instant Payout:

Payments will be automatically issued by a smart contract directly to your ETH portfolio, ensuring immediate withdrawal without delay or cancellation.

Built-in exchange:

After all operations on the system are performed on the Ethereal token with a stable SBT value, the built-in exchangers will be used to exchange encryption or other tokens to the SBT via platform.

Reference Program:

The platform will offer a unique reference program. The bonus size will be chosen by the broker and will generally be equal to 0.5%. Thus, the user can earn up to 0.5% of the turnover of the person referred to by him.

standalone model

0.5% of the global turnover will be used for platform support and development.

Scalability:

The Betex platform is designed for increased load time, will not affect platform performance. This is achieved by a true intelligent contract organization, architecture and hardware built-in platform.

AWS Infrastructure:

Placement of infrastructure in Amazon will provide reliability, scale of hardware, fast delivery of content to anywhere in the world.

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 instilling unfinished 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 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 user profit.

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 some small ones.

This business model allows brokers to work together, as a unit, but no need 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.

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.

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.

SWIMMING POOL DISTRIBUTION

The Betex platform generates commissions from each transaction (bets). Commission is 5% of the amount of each transaction (bet). The total distribution of transaction amount (bet), including commission income, is presented below.

▸ 95% of turnover will form a prize fund for traders. These funds will be paid to the merchant automatically, after each round ended.

▸ 2.5% of total platform turnover will be distributed among holders of BETEX tokens, according to the number of tokens they have.

▸ 2.0% will be given to the broker, connected to our platform. Payments for referrals will be deducted from the broker's commissions.

▸ 0.3% will get a permanent contribution to the project development fund. A year after the commercial launch, the project must break even.

▸ 0.2% of the platform rotation will be transferred to the reserve fund. The regular refund (of each transaction) will cover the unexpected costs, if it appears.

Architecture and technology Betex architecture is based on two main parts:

▸ Smart contract system (to ensure the transparency of the bet).

▸ An oracle provides reliable data about events occurring to smart contracts (in particular, exchange rates).

SMART CONTRACT ARCHITECTURE

The main purpose of smart contracting is to ensure transparent betting mechanisms for general liquidity collection. Smart contracts are created under the following restrictions:

▸ The bet occurs by transferring the SBT token into the general liquidity pool for certain events in the system;

▸ The network commission (Ethereum) should be as small as possible;

▸ Gift payments (including commission transfers) are manifested by smart contracts based on data received from oracle. The architecture system is based on the following smart contracts: ▸ The SBT token contract complies with the ERC-20 standard. SBT is a stable token (relative to the USD exchange rate), an artificially maintained exchange rate, with emissions and combustion made during an exchange operation.

▸ The exchange contract is a smart contract for automatic exchange of ETH to SBT and vice versa. The ETH / SBT rate is regularly updated with oracle and is maintained artificially at the 1: 1 / USD level. When crediting ETH, the required amount of WNT is being transmitted. When pulling ETH, the appropriate number of SBT tokens is being burned.

▸ It is also planned to apply a time limit on token usage. If the token is not used within the Betex system for a specified period of time, it is automatically switched back to the ETH source address. This can prevent speculation with tokens.

Betex smart contract is a management system for liquidity pool (bet basket). This accepts the offer by moving the SBT token to a certain pool (basket) for a limited period of time. After the wait time expires, the payments are redistributed among players based on oracle data.

▸ The commission's smart contract is a commission fee contract aggregator. It imposes an entire commission of operations within the system. Distribution commissions are made by this contract once in a certain time period (currently, once in 24 hours).

▸ Referral smart contract is the contract that governs the referral program. Betex supports single-level reference programs and redistributes sections of commissions to referral addresses. This smart contract stores the required dependencies.

Betex ICO

Pre-SalesFilled

Main ICO

Sales of the Betex token begins on March 1, 2018

Starting from ICO:

01.03.18 at 12:00 GMT

Final ICO:

31.03.18 or 3,000,000 BETEX tokens were sold out

ICO BETEX token price:

$ 3.00

Max number of tokens to sell:

3,000,000 out of 10,000,000 (30%)

ICO hard hat:

$ 9,000

Minimum purchase amount:

0.5 ETH or 0.05 BTC

Attention! To participate in ICO Betex, participants must complete the KYC procedure in their personal profile.

Betex token distribution

Coming in 2018

5% Pre-Sales Token Round 1

15% Pre-Sales Token Round 2

40% Token Discount

2% Bounty

8% Reserve

30% Founder & Team

TOKEN ALLOCATION

0.5% (50,000 BETEX) is reserved for a bounty campaign. Token will be distributed as follows:

Blog and Video bounty - 40% (20,000 BETEX);

Twitter Prize - 40% (20,000 BETEX);

Telegram Prize - 20% (10,000 BETEX).

Roadmap

◼ 2017 Q4

╶ Launch and testing of the P2P binary platform platform (MVP) on net test;

╶ Pre-sale of BETEX tokens in accordance with SAFT or similar agreements;

╶ Smart platform contract audit;

╶ Web interface design from sections for p2p sports betting;

◼ 2018 Q1

╶ Address any special regulatory / licensing requirements that may apply in the relevant jurisdiction;

╶ Commercial launch of Betex, p2p binary platform platform;

╶ Development of available trade partner lists;

╶ Launch and test the MVP section for P2P sports betting on the net test;

╶ Mobile app development and testing for Android / iOS;

╶ Development and testing of desktop client applications;

╶ Development of sections with statistics;

╶ Development of a private cabinet for holders of BETEX tokens;

◼ 2018 Q2

╶ Commercial launch of parts for p2p sports betting;

╶ First broker connection to the platform;

╶ API development for trade bots;

╶ Launch of mobile app for Android / iOS;

╶ Run the desktop client application;

╶ Generation of BETEX tokens;

╶ Distribution of BETEX tokens among pre-sale participants;

╶ Distribution of profit accumulated among BETEX token owners;

◼ 2018 Q3

╶ Compliance with regulatory / licensing requirements that may apply in related jurisdictions to the main stage of BETEX token sales;

╶ The main stage of BETEX token sales;

╶ FIX API development and development;

╶ Development of parts for p2p bets on irregular occurrences;

◼ 2018 Q4

╶ Network scale and / or transfer to more efficient blockchain;

╶ Launch section for p2p bets on irregular events;

◼ 2019 Q1

╶ Global market expansion & adaptation;

╶ Project break even.

Betex brings with it transparency, fair fair, and unheard results for binary option trading. With Betex, merchants will place bets on each other and never fight against platform providers or other intermediaries. Built with Blockchain technology, unlike traditional platforms, Betex will provide access to real-time data, ensuring absolute system transparency. So there is no doubt that all users are treated equally and fairly. During the first round of pre-sales, Betex has raised $ 1,000,000.

We're excited to introduce Betex prize campaigns, great opportunities to help promote projects, and get some BETEX tokens without investing. You need to do some tasks, which will be rewarded with a certain number of tokens. The prize begins on February 16, 2018, finally announced.

TEAM