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Binary option, or asset-or-nothing option, was highly favored as derivatives instrument for thousands of brokers and traders. The simplicity of the instrument that allows investors to guess whether or not a specific event will happen raked an estimated $30 billion annually for the market. However, dishonest brokers, shady practices, and opaque terms have resulted in tougher regulation and stricter stance by government agencies. Despite concrete efforts by the industry to regain credibility through ad campaigns, most people remain wary of entering the market.
Once Bitten, Twice…
Trust is arguably the most fragile quality in the known universe; easily lost, difficult to regain. unless you can comprehensively prove your worth. A copious amount of information is required to establish trust, especially in the financial industry. Investors must also have access to an honest, transparent, and secure platform where they can safely execute their bets without worrying about the integrity of the operators.
This is what BETEX, a revolutionary peer-to-peer platform on the blockchain, is developing a transparent ecosystem for binary options and other derivatives. Through the disintermediation of services, BETEX allows users to directly bet against each other with no third-party interference.
“Our mission is to bring unprecedented transparency to the derivatives’ market, as well as develop the new derivatives, which won’t leave any chances for the old shady trading instruments to exist,” explains Oleg Torkhov, CEO of BETEX.
BETEX’s specialized and ready-to-use solution offers the following benefits:
- Traders: A steady stream of earning opportunity if they can correctly indicate a short- or medium-term trend in the price change of the selected basic asset (trading pair).
- Brokers: Commission fee of 2% of the total amount of their users’ bets
- Investors: 2.5% of the total volume on the platform is distributed among token holders. Each token holder automatically receives a part of this commission based on the number of tokens they have
An Ecosystem Like No Other
Unlike traditional platforms, BETEX provides access to real-time data and records all information on the blockchain, thereby, ensuring absolute transparency of its system. Liquidity on the platform is secured through a white label scheme connecting traders to brokers and maintaining the integrity of the ecosystem. The platform will also distribute 95% of the pool among winning traders and take 2.5% for commission fee while distributing the rest among token holders.
“All transactions will be publicly available for any checks. No one, including the platform, will be able to influence the process.”
Settlement on the platform is powered by BETEX token, which will be made available to investors in two pre-sale rounds:
- Pre-Sale Round 1 – Starts on 04.12.2017 and ends 20.12.17
- Pre-Sale Round 2 – Starts on 10.01.18 and ends 31.01.18
Only KYC/AML-compliant investors are eligible for this private offer.
BETEX aims to be fully compliant with all regulatory bodies and has initiated to future-proof itself by registering with the SEC and other regulatory authorities.