Peer-to-peer binary options platform

masboy (25)in #cryptocurrency • 7 years ago

Thousands of brokers and merchants around the world massively use binary instruments. This is well-liked because of the simplicity of concepts and high chances of success. The industry is experiencing exponential growth until 2014, reaching more than $ 30 billion in annual turnover. But there's something wrong there. In the following years, regulators from around the world have made rather strong statements, claiming that binary options are a hoax and that traders are reluctant to get involved. Evidently, a great concept behind Binary Options has been undermined by shady and dishonest brokers, their appetite for profit and the fact that there is infinite possibilities for them to deceive their customers.We've got some good news for you. We are launching a revolutionary peer-to-peer platform for binary options, BETEX, which will substantially improve the way betting is done. We designed a radically new business model to change the user mindset of platform provider integrity concerns to focus on its own capacity to generate profits.

Market overview
According to the most conservative estimates, the volume for the world's binary market option is at least $ 30 billion per year, with nearly $ 5 billion a year in Japan alone. The precise estimates of these figures are not easy to obtain because in most countries there is no reliable data regarding binary option market rotation due to its extreme shadiness and disability and the lack of clearing of outstanding brokers.

We have analyzed traditional binary option models to gain a better understanding of all the reasons, leading to unfavorable behavior toward binary choices and bringing good ideas for the fall.

▸ Traders are betting against brokers. So losing trader is a broker advantage. Hence, the reason brokers ensure most traders fail. There is a general belief that 90% of merchant funds eventually end up in a broker pocket.

▸ In general, the trader's reward, if he is right, remains firm regardless of other factors, that is, sometimes you should have more ways than that. Maximum available ever varies from 75% to 90% of the rate.

▸ The trading process takes place in the backend broker, so it is not transparent. Such a system allows the manipulation of data in a way that makes it difficult for anyone to know the process has changed.

▸ Sometimes, we need to make a deposit to start trading, what takes time. Withdrawal takes more time. If funds freeze, the user must order or buy something in order to make a withdrawal.

▸ Quotations are often obtained from service providers in a corrupt manner. And even then, it does not guarantee the accuracy and validity of the data provided.

▸ Even if the broker treats you correctly, it is impossible to prove, trust the important factor in the decision-making process

Betex model: solutions and benefits
▸ Bets do not make a difference to us (as platform providers), or to brokers, because neither of us can actively participate in the betting process. We charge a service fee, while merchants are betting on one another (peer-to-peer).

▸ No deposits are required and automatic withdrawals are immediately guaranteed. This is especially possible because of the use of smart contracts.

▸ Traders who accurately determine future changes are rewarded with 95% of funds. If successful, trader profits rely heavily on the ratio of right and wrong results;

▸ Both platforms and brokers can always prove the authenticity and accuracy of the results. In the worst case scenario, if something goes wrong, it will be recognized or justified. Therefore, there is no need to trust each other with certain conditions.

▸ Trading realized with ERC-20 token a stable value. These are stored and presented in the Ethereal block, making it possible to audit platform operations in real time, or later. Open access to data prevents intermediaries from changing results;

▸ 50% of platform profits made from commissions are distributed among holders of BETEX tokens. 40% goes to the broker.

▸ The composite level, used in all calculations, is derived from some open source by an established algorithm, taking into account the value of each source defined by the trading volume. Using multiple sources makes involving the possibility of manipulation with the underlying asset level, as it must be done in several places simultaneously. Working from a combined level is a completely open and transparent process: being recorded and presented for public access in real time.

BETEX ECOSYSTEM

Basically, you can access and interact with the Betex ecosystem, being: ▸ Trader ▸ Investor ▸ Broker

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Betex architecture and architecture is based on two main parts:

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

▸ A prophecy that provides reliable data about events occurring on smart contracts (in particular, exchange rates). SMART CONTRACT ARCHITECTURE The main purpose of smart contracting is to ensure transparent betting mechanisms for shared liquidity pools. Smart contracts are built with the following restrictions:

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

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

▸ Reward payout (including commission transfer) is manifested by intelligent contract based on data received from oracle.

TOKEN SALE 9.1.

Summary Crowdsale BETEX token sales will be done in the first two stages and one main stage.

▸ BETEX Token Pre-Sale, Putaran 1 (04.12.17 - 08.01.18)

▸ BETEX Token Pre-Sale, Putaran 2 (10.01.18 - 18.02.18)

▸ BETEX Token Sale (01.03.2018 - 31.03.2018)

During the initial round of BETEX token sales, the token will not be transferred to the buyer. According to the SAFT (or similar) agreement, the token will be transferred to the contributor later, once created.

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