Globitex is an institutional class Bitcoin exchange, with fully functional FIX API connectivity, offering direct market access to algorithmic merchants. Launched in summer 2017 as a working prototype, is being tested in a limited Beta mode and is expected to open in early 2018.
After building exchanges to meet the needs of sophisticated institutional clients, we now operate Globitex from the starting point to enable exchange of Bitcoin and Euro trading partners on a secure and established platform. Building Globitex with the goal for the future, however, requires handling one of the major problems facing Bitcoin: its liquidity, or its current shortcomings.
Globitex has the main purpose of that?
Globitex’s first goal is to launch another major currency pairs; to expand the Bitcoin-FX order book, including instant trading, deposits, and major currency withdrawals around the world. The next step is to develop a cryptocurrency money market, where qualified market participants can lend their assets over a period of time by setting market-based interest rates.
The development of the money market in Bitcoin will be a major catalyst in improving liquidity and matching Bitcoin’s supply and demand in the spot market, as well as for future timeframes, potentially turning it into the most liquid currency.
As Bitcoin’s liquidity increases, and since large orders can be easily accommodated, Globitex will then activate the standard list of futures and commodity options in an open order book. Derivative contracts will be physically handed over and exchanged in Bitcoin as the underlying currency. For example, counterparties in derivative contracts can exchange physical commodities (crude oil, jet fuel, gold, silver, copper, corn, etc.) for a number of bitcoins at maturity of the contract, or no physical pick. shipping and settling in bitcoin instead.
Business Development Stage
To achieve the intended purpose, Globitex proposes a Sales Token, which will include the publication and distribution of Token GBX. Token sales will be phased in, each representing the Globitex team’s commitment to specific business development objectives.
This goal is divided into three main sections. Each section assumes a number of GBX Tokens sold, which in turn opens up the results needed to progress through each development stage specified here.
1. First Stage: Spot FX and REPO
The character is expected to be sold: 10,000,000–50,000,000 GBX
- Scale spot spots, where Bitcoin can be traded vs. major fiat and other cryptoes
- Apply FX — REPO margin trading capability
2. Third Stage: GCOM Commodities Index and Physical Commodities
The figure is expected to sell 150,000,000–500,000,000 GBX
- List Bitcoin with commodity index price Globitex — GCOM
- Enable precious metal futures contracts to be delivered physically
- Next develops warehousing infrastructure and expands spot commodities
3. Second Phase: BIBOR, Money Market and Derivative Commodity
Expected tokens sold: 50,000,000–150,000,000 GBX
- Develop a money market Bitcoin — LIPS
- List commodities and cash options
- List of future crypto currency, swaps and options
Token will be represented as GBX. Token GBX will meet the basic needs of trading settlement methods on the Globitex exchange platform, filling as a commission payment receipt, and also used in loyalty programs. This token is based on the Smart Ethereal Smart Contract standard EIP-20.
Tokens will be purchased during token sales in exchange for Ether (ETH), Bitcoin
(XBT) and Bitcoin (BCH) cash. While the token distribution will occur after the token is sold out.
The GBX token will have a lifetime of 10 years, over its lifetime, tokens can be redeemed, loyalty programs and other successful benefits are achieved. After 10 years, the Company will revisit the Token GBX program and make important modifications regarding the continuation of the program. The redeemed GBX tokens will be permanently burned to remove them from circulation. White paper: https://www.globitexico.com/wp.pdf
Token GBX will be used to cover commission payments for trades made on the Globitex Platform All Globitex listed clients will be able to redeem Token GBX as commission payment. Initially tokens will be subject to a significant premium of not less than 20%. For example, at a price of GBX 1 = EUR 0.1, the client choosing to use GBX as payment for trading will be able to enjoy the following bonuses: GBX 1 = EUR 0.1 + 20%. Over time, depending on the overall success of the whole company, the bonus will be much improved to stimulate the widespread use of the GBX token for trade settlement. Furthermore, Globitex will offer member loyalty programs linked to other successes to reward its clients and token holders during the life of the GBX Token. Overall, GBX Token is expected to have a lifetime of 10 years, during which time, tokens can be redeemed, loyalty programs and other successful benefits are enacted. After 10 years
will pass, the Company will review the Token GBX program and make the necessary
adjustment of program continuity.
More information visit the link below:
Reddit: https://www.globitexico.com/: //www.reddit.com/r/Globitex/
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