BETEX

 Betex-Peer-to-peer binary options platform

Bringing clear-cut transparency to the financial derivatives marketsBetex is a leading-edge platform for P2P financial derivatives trading. It enables users to place bets on future changes against each other.As a platform provider, we cannot engage in betting. Thus, there is no way for us to benefit from it. We only profit from collecting service fees.Built with Blockchain technology, unlike traditional platforms, Betex provides access to real-time data, thereby, ensuring absolute transparency of its system.Determined to reinvent financial derivatives market, we strive to instill incorruptible business logic that would conclusively eliminate the issue of trust.

Transparency

Blockchain technology provides open access to information at all times, thereby, ensuring fully transparent process, accurate data records and equal terms for everyone.

Provable fairness

Since we are not betting, there is no reason for us to manipulate results. Whatever is the outcome of your bet, we get to profit from collecting service fees.

Common pool of liquidity

The goal is to consolidate maximum liquidity from the derivative markets through forming one common pool of liquidity for each trading asset, instead of creating multiple tiny ones.

White label for brokers

We use the white label model to build solutions and provide services that allow minimizing entry and setup costs as well as help brokers launch their business in no time.

Instant payouts

Payments are automatically released by smart contracts straight to your ETH wallet, ensuring immediate withdrawals without delays or cancellations.

No deposits

Platform users get instant access to all of its functions and features without having to make any kind of deposits first.

Business model

We designed a radically new business model to shift user mindset from worrying about the integrity of platform providers to focusing on own capacity to make profit.Betex is the only platform, where as much as 95% of funds are distributed among traders, who succeed.Besides, we are forming a large common pool of liquidity for each underlying asset in order to maximize users’ gain.Powered by Ethereum smart contracts, Betex brings undisputable transparency, fair conduct and auditable results to Binary Options trading.

Betex tokens distribution

• 5%-Token Pre-Sale Round 1
• 15%-Token Pre-Sale Round 2
• 30%-Token Sale
• 10%-Reserve for brokers (Vesting for 6 months)
• 8%-Reserve
• 2%-Bounty
• 30%-Founders and team (Vesting for 6 months)

Roadmap

Current state Betex project has been under development for more than a year so far. During this time, the project has overcome a long way from an idea to an MVP. Before the result was achieved, there were many iterations, each out of which allowed to improve the features of the platform. This process continues even now. At the moment, the website with the project description (https://Betexlab.com) is live. Two samples of the MVP platform in the test net are launched and can be found at https://Betex.io and https://GoBet.io. Two copies of the platform are needed to demonstrate the concept of a common liquidity pool. Within the MVP, the design of the web interface, smart contracts, and platform architecture are developed. The hardware infrastructure is based on the Amazon Web Services. Three trading pairs (BTC/USD, ETH/USD, BTC/ ETH) and 6 time intervals, lasting from half an hour to a week, are launched. 

Future development 

The Betex development strategy is aimed at an active development of the platform, continuous improvement of its features, introduction of new services, development of the ecosystem, and attraction of new users. We currently estimate the key stages of the project development to be as follows:

2017 Q4 ╶ Launch and testing of the p2p binary options platform (MVP) in the test net; ╶ Pre-sale of BETEX tokens in accordance with SAFT or similar agreements; ╶ Audit of the platform‘s smart contracts; ╶ Web interface design of the section for p2p sports betting;

2018 Q1 ╶ Addressing special regulatory/licensing requirements that may be applicable in the relevant jurisdictions; ╶ Commercial launch of Betex, the p2p binary options platform; ╶ Development of the available trading pairs list; ╶ Launch and testing of the MVP‘s section for p2p sports betting in the test net; ╶ Development and testing of the mobile app for Android/iOS; ╶ Development and testing of the desktop client application; ╶ Development of a section with statistics; ╶ Development of a personal cabinet for BETEX token holders;

2018 Q2 ╶ Commercial launch of the section for p2p sports betting; ╶ Connection of the first brokers to the platform; ╶ Development of an API for trading bots; ╶ Launch of the mobile app for Android/iOS; ╶ Running the desktop client application; ╶ Generation of BETEX tokens; ╶ Distribution of BETEX tokens among pre-sale participants; ╶ Distribution of the accumulated profit among owners of BETEX tokens;

2018 Q3 ╶ Compliance with regulatory/licensing requirements that may be applicable in the relevant jurisdictions to the main stage of BETEX token sale; ╶ The main stage of BETEX token sale; ╶ Development and connection of the FIX API; ╶ Development of the section for p2p betting on irregular events;

2018 Q4 ╶ Network scaling and/or transfer to a more efficient blockchain; ╶ Launch of the section for p2p betting on irregular events;

2019 Q1 ╶ Global market expansion & adaptation; ╶ Project‘s break even.

 OUR TEAM 

Oleg Torkhov CEO Oleksii Koshlatyi DevOPs & Infrastructure Mykhailo Tiutin CTO Iana Gyzhytska Content Strategist & Writer Oleksandr Babichev Front-end Developer Anatolii Kucheruk Smart Contract Developer Mykhailo Savchuk Back-end & Blockchain Developer Evgeny Zhytnyuk Community Manager Kostiantyn Kliuiev PM/PO at BETEX

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Author's work: Wong linglong3

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