Binary options present an attractive way of trading. Essentially, it offers an all-or-nothing approach to investing. Investors would bet on the outcome of basically any event, the result of which would determine if they win or lose.
As with any type of traditional investing, there is always room for fraud. There is also the issue of third-party intermediaries and huge transaction fees associated with them. Blockchain technology solves both the problems — a fact that Betex is well aware of.
The Betex platform, using blockchain technology to offer transparent peer-to-peer derivatives trading. This essentially means that users will be able to bet on these future outcomes without the use of a broker or middleman. Because of the blockchain, users will be able to access real-time data, which results in Betex offering a high level of transparency and data accuracy to its members. The benefits of blockchain are essential in ensuring that the platform reaches its aim of completely revolutionizing binary options trading.
With traditional trading, corporations and brokers could manipulate the system resulting in high losses for investors. With Betex, the platform itself cannot bet and receives its revenue from the service fees it applies to its users. Users will also be saving money as the platform does not require any form of deposit before members start betting. Another benefit of the platform being blockchain based is that it makes use of smart contracts to facilitate payments directly the users’ ETH wallets with no delay.
Similarly, brokers on Betex platform stand to equally benefit by upgrading themselves to the new-tech platform. Those connected to the platform are eligible to receive a commission of 2% on all user bets. As the turnover increases, their earnings also increase proportionally.
Stable Betting Token and Betex MVP
Betex will use the SBT (Stable Betting Token) as a medium of exchange on the platform as it will be used for betting and payments. However, the Betex token is the main token. It has security characteristics, and will therefore be registered with the SEC and other regulatory authorities.
Betex works on an innovative business model, where most of the funds, as much as 95%, are distributed among its successful traders. In addition, 2.5% of the remaining 5% will be distributed among the platform’s token holders.
The platform is also creating a pool of common liquidity for each asset. This will maximize the gains received by users. Betex already has MVPs created to provide a better understanding of the concept of common pool of liquidity implemented within the platform. The two versions are available at GoBet.io and Betex.io respectively. At the MVP stage, the platform supports 3 trading pairs and 6 trading intervals.
The Betex Token Sale
The platform has elected to have a phased token pre-sale, with the first phase having started on the 4th of December 2017 will end on the 8th of January 2018. This phase has a maximum token availability of 500,000, and a hard cap of $1 million.
The second phase is scheduled for the 10th of January 2018, and will last until the 31st of January, or until the total availability of 1,500,000 tokens are sold. The hard cap for this phase is $3.75 million.
It is important to note that only qualified investors, who are those who have completed the KYC/AML process, will be able to contribute to the pre-sale.
A total of 20% of the tokens will be sold during the pre-sale, with 40% being sold in the main token sale. The founders and Betex team will receive 30%, 8% will go into reserve and the remaining 2% has been allocated to the bounty.
Betex is just another example of the benefits of disruptive technology. By completely revolutionizing the traditional method of binary option trading, the platform will be able to give its users so much more, not just in monetary terms, but in transparency and trust as well.