With all the improvements in the World of Technology and Innovation, there is also a major development in Finance today. Furthermore, the binary option is considered one of the financial derivatives instruments that strongly challenge traders to move in the right direction from the moment of price to estimate the asset at a time to be given in the future. When it comes to forecasting, then it varies from a few minutes to years. To receive income, and for the right decision, where asset prices are expected to keep moving, traders must use the binary option rather than buying the asset.
Therefore, it is easier to forecast one of two possible price options that will decrease or increase. If the forecast is predicted exactly at a given point in time and the price of an asset moves in the direction indicated, then the trader will get, or otherwise they face a loss.
Therefore, it is easier to forecast one of two possible price options that will decrease or increase. If the forecast is predicted exactly at a given point in time and the price of an asset moves in the direction indicated, then the trader will get, or otherwise they face a loss.
Each trade pair consists of quotes such as :
- Index.
- Currency.
- Mineral.
- Oil.
- Metals, and others.
Which will be considered the basic asset for binary options. There are millions of brokers involved in the binary options and even experience a huge annual turnaround in them.
But, something is wrong, many regulators make strong comments on binary options and claim it involves discouraging, and fraud for all traders.
In addition, the binary options are not so popular in the market. Instead of building a platform that will ensure benefits for all users, it will create a platform that can fool merchants. Therefore, despite investing a lot of money in advertising on the platform, the binary option loses its importance drastically. Although in previous years there was no alternative available in the market, the brokers lost their income significantly.
There are many problems that the market will face today because traders are betting against brokers, so trader losses are the broker's profits, and there is no transparency involved in the process, such as the process of depositing and withdrawing that takes a lot of time to do in instant, quotes given by corrupt means, and critical problems to trust the decision-making process. Then we need a solution that will solve all binary option problems in the best efficient way.
Thus the evolution of the so-called BETEX platform has emerged in the market. The fundamental foundation of the BETEX platform is to launch an existing market with the most innovative and efficient technology, which will further add honesty and transparency to the platform.
But, something is wrong, many regulators make strong comments on binary options and claim it involves discouraging, and fraud for all traders.
In addition, the binary options are not so popular in the market. Instead of building a platform that will ensure benefits for all users, it will create a platform that can fool merchants. Therefore, despite investing a lot of money in advertising on the platform, the binary option loses its importance drastically. Although in previous years there was no alternative available in the market, the brokers lost their income significantly.
There are many problems that the market will face today because traders are betting against brokers, so trader losses are the broker's profits, and there is no transparency involved in the process, such as the process of depositing and withdrawing that takes a lot of time to do in instant, quotes given by corrupt means, and critical problems to trust the decision-making process. Then we need a solution that will solve all binary option problems in the best efficient way.
Thus the evolution of the so-called BETEX platform has emerged in the market. The fundamental foundation of the BETEX platform is to launch an existing market with the most innovative and efficient technology, which will further add honesty and transparency to the platform.
About BETEX.
BETEX is an innovative Peer-to-Peer platform for financial derivatives trading, which uses the Ethereum Smart Contract. The binary option will serve as the main instance, to get started. Then, other more complex instruments will be integrated. So far, the BETEX platform is a successful project in Blockchain Technology that has integrated several aspects of financial markets, as well as other Peer-to-Peer betting platforms in Blockchain Technology with full integrity and transparency.
Solutions and Benefits BETEX Model.
The results of the bets are no different to us (as platform providers), or brokers, because none of us can actively take part in the betting process. We charge a service fee, while merchants place bets on each other, (Peer-to-Peer).
No deposit required and instant automatic withdrawal of funds is guaranteed. This is especially possible because of the use of smart contracts.
Traders who accurately determine future changes are rewarded with 95% of the funds. In terms of success, the trader's profits depend heavily on the ratio of correct and false results.
Traders who accurately determine future changes are rewarded with 95% of the funds. In terms of success, the trader's profits depend heavily on the ratio of correct and false results.
Neither platform nor broker can always prove the authenticity and accuracy of the results. In the worst case scenario, if an error is made, it will be accepted or justified. Therefore, there is no need to trust each other to ensure that the provisions are fair.
Trade is realized with the ERC-20 Token of a stable value. These are stored and presented in the Ethereum blockchain, making it possible to audit platform operations in real time, or later. Open access to data prevents intermediaries from changing the 50% yield of platform profits made from commissions distributed among holders of BETEX tokens. 40% goes to the broker.
The composite level, used in all calculations, comes from multiple open sources by an established algorithm, taking into account the value of each source determined by the trading volume. Using multiple sources to trap possible manipulation with the underlying asset level, as they must be done in several places simultaneously. Working from a combined level is a completely open and transparent process: it is being recorded and presented for public access in real time.
The composite level, used in all calculations, comes from multiple open sources by an established algorithm, taking into account the value of each source determined by the trading volume. Using multiple sources to trap possible manipulation with the underlying asset level, as they must be done in several places simultaneously. Working from a combined level is a completely open and transparent process: it is being recorded and presented for public access in real time.
Vision and Mission of BETEX Platform.
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 inculcating improper business logic into everyone's value system.
The ecosystem of BETEX
Basically, you can access and interact with the BETEX ecosystem, being :
- Merchants.
- Investors.
- Realtor.
As the diagram shows below, all elements of the ecosystem are interconnected with the Ethereum Blockchain Technology, and Intelligent Contracts, which in this case, play the backend role. This form of organization provides many advantages but has one major disadvantage - limited scalability.
You will find more info about this section of the subject below,
BETEX, for Merchants, (Bettors).
Users can access and interact with BETEX via :
- Web-based interface - ready.
- Mobile apps - under development.
- Desktop apps - under development.
Here's how our web-based interface looks, (night mode is also available).
A trader selects one of the trading partners (Assets), then selects one of six trading intervals (Time), then decides the amount to bet (Amount), and, finally, selects the direction, where the price will move, in his opinion (Call or Put).
As soon as the result is known, the merchant's token, which happens to be erroneous, is distributed among merchants, whose assumptions become accurate. First, however, a fee of 5% of the total bet amount charged to our service. User interface elements, key functions, processes and working principles, including examples, are presented in sections.
BETEX for Investors.
Investors can interact with the platform through their personal dashboard where both the private statistics platform and general investors will be saved. After the sale of the main BETEX Token (01.03.2018-31.03.2018) BETEX token holders will receive their share of the platform profits made on the commission (see section 7.3 for details). The number of tokens they own will directly determine their share of the total number of distributions made for the token holder.
BETEX for Brokers.
In the first quarter of 2018, brokers will be offered a ready-made solution that allows getting involved with the platform by the known White Label principle. In other words, it is possible to immediately implement all of our platform mechanisms and systems with the domain and user base of the broker's own. In addition, BETEX Lab Limited, as a platform developer, will provide consulting and technical support.
BETEX Token Mechanism.
Stable Stake Token, (SBT).
SBT, (Stable Betting Token) is a token with a stable value of $ 1.00. This token is used to bet in the system, payment to winners and brokers. All operations are specified in the Ethereum Blockchain Technology. SBT tokens are published automatically by smart contracts with each exchange request. With reverse exchange, tokens are burned. Thus, the number of SBT tokens at any point in time reflects the amount of funds currently in the system.
BETEX Token Sale.
BETEX is the main token in the system. 50% of platform commission revenue is distributed among holders of BETEX tokens at ETH. BETEX is issued once in the amount of 10,000,000 tokens. After that, the quantity remains constant.
Business model.
ICO.
To participate in ICO BETEX, participants must complete the KYC procedure in their personal profile.
MVP.
Currently, it is possible to try platform work in action. To clearly demonstrate the benefits of a general liquidity collection, two sample platforms were launched as MVP on the net test:
There are 3 trading pairs and 6 trading intervals available within the MVP framework. Trading Partner :
- BTC / USD.
- ETH / USD.
- BTC / ETH.
Trading Interval :
- 5 m + 25 m.
- 15m + 2h45m.
- 30m + 5h30m.
- 1 hour + 11 hours.
- 3 hours + 21 hours.
- 1d + 6d.
Each trading interval consists of two sub-intervals: during the first, the trader is betting on growth or lowering the rate (5m), and after the second (25m), the platform determines the winner and distributes the bet from the losers among them
At the end of this section, a round sample is displayed, which shows the BETEX platform work more clearly.
Roadmap.
BETEX Success Team.
Oleg Torkhov.
Co-founder and CEO.
Mykhailo Tiutin.
Co-founder and CTO.
Kostiantyn Kliuiev.
VP of Engineering.
Mykhailo Savchuk.
Blockchain and Back-end Developer.
Oleksii Koshlatyi.
DevOPs and Infrastructure.
Oleksandr Babichev.
Front-end Dev.
Iana Gyzhytska.
Content Strategist and Writer.
Evgeny Zhytnyuk.
Community Manager.
Anatolii Kucheruk.
Smart Contract Developer.
Advisors.
David Drake.
Board Advisor.
Kos Chekanov.
Design Advisor.
Alexandr Kerya.
Marketing Advisor.
Alexandru Radulescu.
Trading Advisor.
Matyas Zaborszky.
Strategic Advisor.
Steve Good.
Business Strategy and Digital Marketing Advisor.
Vladimir Nikitin.
ICO Advisor.
Scott Douglas.
Business Strategy Advisor.
MEDIA.
Currently, websites with project descriptions (https://Betexlab.com) are enabled. Two samples of the MVP platform in the net test were launched. Two copies of the platform are required to demonstrate the concept of a common liquidity pool. In MVP, web interface design, smart contracting, and platform architecture are developed. The hardware infrastructure is based on Amazon Web Services. Three pairs of trade (BTC / USD, ETH / USD, BTC / ETH) and 6 time intervals, lasting from half an hour to a week, are launched.
If you are interested to join or want to know more about all the developments of this great BETEX project, you can immediately see all the links below,
Website : https://betexlab.com/
Whitepaper : https://betexlab.com/betex-wp.pdf
Twitter : https://twitter.com/betex_tokens
Medium : https://medium.com/@betex
Bitcointalk : https://bitcointalk.org/index.php?topic=2518678
Telegram : https://t.me/betex_ico
Author by 9emb3lelit3
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