There are 2 tokens in the system: BETEX and SBT.
SBT (Stable Betting Token) is a token with a stable value of $1.00. This token is used for betting in the system, payments to winners, brokers, holders of BETEX tokens, and for the development fund of the platform itself. All operations are fixed in the Ethereum blockchain. The SBT tokens are issued automatically by the smart contract with each exchange request.
With the reverse exchange, tokens are burned. Thus, the number of SBT tokens at each point of time reflects the current amount of funds in the system.
BETEX is the main token in the system. 50% of the platform’s commission income is distributed among BETEX token holders in the SBT tokens. BETEX is issued once in the amount of 10,000,000 tokens. After that, its quantity remains constant.
The pre-sale of the BETEX tokens will take place in 2 rounds in November-December 2017 under the SAFT (Simple Agreement for Future Tokens) agreement. Since the BETEX token will have certain characteristics of a security, it will be registered with the SEC and other regulatory authorities within 15 days after the initial distribution.
The profit received between the launch of the platform and the actual distribution of BETEX tokens, will be accumulated on the public Ethereum address and will be distributed among BETEX token holders during 2 weeks or less, after the distribution event is over. Distribution of BETEX tokens is planned to take place in the second quarter of 2018. More information will soon be provided.
