Kerja Keras Kunci Sukses: BETEX - Bringing Clear Transparency to All Financial Markets and Eliminating Trust Problems

Kamis, 05 April 2018

BETEX - Bringing Clear Transparency to All Financial Markets and Eliminating Trust Problems

INTRODUCTION

Binary options: basic concept
Binary options is a financial derivatives instrument that challenges traders to foresee the right direction of the price movement for an underlying asset at a given point of time in the future. Forecasting horizon varies from a few minutes up to several months. To receive income for having defined the right direction, in which the price of an underlying asset happens to move, traders can use binary options instead of actually buying that asset. Thus, it is enough to forecast one of the two possible options — price increase or decrease. If the assumption is accurate for a given moment in time and asset price changes in the indicated direction, traders gain. And otherwise, they lose. Any trading pairs that are comprised of quotes (currencies, indices, stocks, metals, minerals, oil etc.) may be considered as basic assets for binary options.

Mission
BETEX is on a mission to bring clear-cut transparency to all financial markets and, that can conclusively eliminate the issue of trust. First and foremost, though, we strive to reinvent binary options through instilling incorruptible business logic into everybody‘s value system.

BETEX ECOSYSTEM
Basically, you can access and interact with Betex ecosystem, being a:
▸ Trader
▸ Investor
▸ Broker
As the diagram below shows, all elements of the ecosystem are interconnected with Ethereum blockchain and smart contracts, which, in this case, play a role of backend. This form of organization provides many advantages but has one major drawback — the limited scalability. You will find more info on this subject in Section 3.5. Bet

DISTRIBUTION OF THE COMMON POOL

The Betex platform earns on commissions from each transaction (bet). The commission is 5% of the amount of each transaction (bet). The distribution of the total amount of transaction (bet) funds, including the commission income, is presented below.

▸ 95% of the turnover will form the reward fund for traders. These funds will be paid out to traders automatically, once each round is over.

▸ 2.5% of the total platform turnover will be distributed among the holders of BETEX tokens, according to the number of tokens they own.

▸ 2.0% will be granted to the brokers, connected to our platform. Payments for the referrals will be deducted from broker‘s commission.

▸ 0.3% will go to the permanent contributions to the project‘s development fund. A year after the commercial launch, the project should break even.

▸ 0.2% of the platform‘s turnover will be transferred to the reserve fund. Its regular refill (from each transaction) will cover unexpected costs, if they arise.

SYSTEM RESTRICTIONS

Since transactions are accepted and confirmed by the network in asynchronous mode, it creates a number of problems when the system is running. Let's view them in more details using the figure below.

Description of MVP (released)

Currently, it is already possible to try the work of the platform in action. In order to clearly demonstrate the benefits of the common pool of liquidity, two samples of the platform were launched as MVPs in the test net: https://Betex.io and https://GoBet.io.

There are 3 trading pairs and 6 trading intervals available within the MVP framework. Trading pairs: ▸ BTC/USD

▸ ETH/USD

BTC/ETH Trading intervals:

▸ 5m+25m

▸ 15m+2h45m

▸ 30m+5h30m

▸ 1h+11h

▸ 3h+21h

▸ 1d+6d

Each trading interval consists of two sub-intervals: during the first one, traders bet on the growth or lowering of the rate (5m), and after the second one (25m), the platform determines the winners and distributes the bets of the losers between them.

INTERFACE ELEMENTS OVERVIEW