Globitex: Connecting Digital Currency to World Trade
Globitex is a Bitcoin institutional class of exchange, with fully functional FIX API connectivity, offering direct market access to algorithmic merchants. Launched in the summer of 2017 as a working prototype, it is being tested in a limited Beta mode and is expected to begin public open operations in early 2018.
After building a sophisticated exchange to meet the needs of institutional clients, we now operate Globitex from a starting point that allows Bitcoin and Euro exchange to trade in pairs on a secure and established platform. Building Globitex with a goal for the future, however, requires handling one of the major problems facing Bitcoin: liquidity, or current shortcomings.
Therefore, one of the first goals for Globitex is to start another major currency pair; to expand Bitcoin-FX bookings, thus covering instant trading, deposits, and major currency withdrawals worldwide. The next step is to develop a cryptocurrency money market, where qualified market participants can lend their assets at a given time by setting a market-based interest rate. The development of the money market in Bitcoin will be a major catalyst in boosting liquidity and matching supply and demand for Bitcoin in the spot market, as well as for future time conditions, potentially turning it into the most liquid currency.
As Bitcoin's liquidity enhancer, and as a large money order can be easily accommodated, Globitex will then allow a standard listing of various commodities futures and options on the basis of open bookings. Derivative contracts will be physically handed over and exchanged in Bitcoin as the underlying currency. For example, counterparty in a derivative contract may exchange physical commodities (crude oil, jet fuel, gold, silver, copper, corn, etc.) for a fixed amount of Bitcoins at maturity of the contract, or opt out of physical delivery and assign bitcoin As a replacement.
Globitex scaling into the global place and place of derivative trading will allow manufacturers to purchase products listed on the exchange for Bitcoin. Trading companies and speculators will also be able to protect their risk in Bitcoin with derivative contracts. Thus, scaling Globitex exchange will benefit Bitcoin and encourage development as a suitable medium of exchange for facilitating global trade, addressing geographical, political or monetary restrictions.
To realize the business objectives set out in this paper, an Ethereum EIP-20 (formerly known as ERC-20) token-based smart protocol (GBX Token) - will be issued by Globitex Limited, a privately held (company) incorporated company in Gibraltar wholly owned by AS Globitex Parent (Latvia). The Company will use funds from token sales to obtain rights to use, exploit and license the existing Globitex IT in infrastructure and trading platforms. The Company will also use token sales proceeds to further develop the eco-system, infrastructure and trading platforms that meet the objectives described in this White Paper in order to develop a service that Tokens can be exchanged.
Application
GBX tokens will serve the primary purpose of a Globitex trading settlement facility, serving as a commission payment receipt, and used in loyalty programs. the GBX Token redemption is intended to be burned and therefore permanently removed from circulation.
GBX Token will be used to cover commission payments for trades made on the Globitex platform. All registered clients of the Globitex exchange will be able to redeem the GBX token as payment for the commission. Initially tokens will be imposed on an important sign not less than 20%. For example, at the price of GBX 1 = EUR 0.1, the client choosing to use GBX as payment for the transaction will be able to enjoy the following bonuses: GBX 1 = EUR 0.1 + 20%. Over time, depending on the success of the Company as a whole, bonuses will increase greatly in order to stimulate the widespread use of the GBX token for trade settlement.
Furthermore, Globitex will offer related to the success of other program member loyalty companies to honor clients and token holders during the GBX Token period.
Overall, GBX Token is expected to have a lifetime of 10 years, during which time, tokens can be redeemed, loyalty programs and other success-related benefits apply. After 10 years, the Company will review the GBX Token program and make any necessary adjustments to the continuation of the program.
Token Information
Details about token visit
Token name: Globitex Token
Token symbol: GBX Token
lifetime: 10 years (subject of extension)
Token execution environment: Standard Ethereum platform
Token: Ethereum EIP-20 (formerly known as ERC-20)
compliant smart contract Token decimal units: 8 Tokens
sale of currency: Ether (ETH), Bitcoin (XBT), Bitcoin Cash (BCH)
token emission price standard: GBX 1 = EUR 0.10
Minimum sales targets included. pre-sale: EUR 1,000,000.00
Target Phase I sales: GBX Target 50,000,000
Phase II sales: GBX 150,000,000 (Stage I + GBX 100,000,000)
Target Phase III sales: GBX 500,000,000 (Phase I + Phase II + GBX 350,000,000)
high incentive: GBX 500,000,000
Minimum purchase amount: GBX 100
Sales start date: 2017/11/08 12:00 UTC
Date Final sale: 2017/12/07 17:00 UTC or 72 hours of close or high incentive has been reached.
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