Betex is the First Peer-to-Peer Binary Option PlatformBetex has launched its sales campaign to raise funds to build the first peer-to-peer binary options platform with the use of blockchain technology.
On Betex, the blockchain technology will enable traders to place bets with one another and not with the trading platform, the platform provider unable to engage in any betting activity, making Betex an impartial party that earns income solely from service fees.
Betex’s goal is to reinvent the financial derivatives market by delivering an incorruptible business logic that addresses trust issues persistent in the marketplace today. Unlike the more traditional funding platforms, the Betex blockchain platform provides traders with access to real-time data, delivering complete transparency.
Payouts from the platform are automatically released to traders’ Ethereum wallets through smart contracts. No deposits are required to gain access to the platform and services that Betex will be offering.
Not only does the Betex Ethereum powered platform bring transparency and fair conduct, but also provides audible results to binary options trading.
95% of the fees generated on the Betex platform are to be distributed to the traders using the platform and services on offer. Of the remaining 5%, 2.5% of the platform’s total turnover will be distributed to token holders, 2% to brokers, 0.3% to the development team, while 0.2% will be held in reserve.
In summary, key features of the Betex platform include total transparency, provable fairness, a common pool of liquidity, white label offering for brokers and instant payouts.
Betex launched its Round 1 Betex token pre-sale on 4th December 2017 and is scheduled to end on 8th January 2017, with the 1st pre-sale only available to an investor who has completed the KYC / AML process. 5% of the total number of tokens were made available for 1st round pre-sale.
Round 2 of the Betex token pre-sale is scheduled to start on 10th January 2018 and end on 31st January 2018, where a total of 15% of the total number of tokens will be made available for sale.
The sales price of the tokens rises from $2.00 in the 1st round to $2.50 per Betex in the 2nd round, with 40% of the tokens then made available during the main token sale in 2018, the dates of which will be made available after the company has registered with the appropriate regulators, including the Securities and Exchange Commission.
During the pre-sale rounds, the sale of tokens will be under a simple agreement for future tokens (SAFT) agreement, with the minimum purchase amount in the 1st round being 15,000 Betex tokens and 5,000 tokens in the 2nd, with Betex accepting either Bitcoin or Ethereum for the purchase of Betex tokens.
Of the remaining tokens post-sale, 30% will be allocated to Betex’s founders and team members, with 8% of the tokens to be held in reserve.
For interested parties looking to buy Betex tokens during the 2nd round pre-sales period or during the main token sale, purchases can be made on Betex’s website, where the dates of the main token sale will also be made available.