LeapRate Exclusive… A new Binary Options peer-to-peer trading platform called Betex is planning to launch and – like many new companies which are basing their execution on blockchain technology – is looking to fund itself via an ICO.
Betex aims to be a leading-edge platform for P2P financial derivatives trading. It enables users to place bets on future changes against each other. As a platform provider, Betex itself will not engage in betting, and will be making its money from collecting service fees.
The company also plans on launching a P2P sports betting platform.
Betex was founded by Ukraine based partners Oleg Torkhov and Mykhailo Tiutin. Mr. Torkhov, who is also CEO of the new venture, is a serial entrepreneur who has been involved in a number of online ventures in asset protection and authentication, eCommerce, and more recently cryptocurrency mining and blockchain software solutions.
Built with Blockchain technology, unlike traditional platforms, Betex will provide access to real-time data, thereby ensuring absolute transparency of its system.
Payments to clients will be automatically released by smart contracts straight to their ETH wallet, ensuring immediate withdrawals without delays or cancellations.
Betex’s plan is for as much as 95% of funds to be distributed among traders who succeed, as follows:
As far as roadmap goes, the plan is to hold an ICO, with pre-sale of tokens running from tomorrow (November 29) through December 20. And for the business:
Q3-2017 – Betex website launched
Q4-2017 – launch and test the P2P platform “MVP” in the test net, pre sale of Betex tokens in accordance with SAFT, web interface design of a platform section for P2P sports betting.
Q1-2018 – obtain a betting license, commercial launch of Betex binary options platform, development of available trading pairs list, launch of P2P sports betting in the test net
Q2-2018 – commercial launch of P2P sports betting platform, connecting the platform to the first brokers, development of an API for trading bots, launch of iOS and Android mobile app, running the platform desktop client application.