Globitex Connects Digital Currencies With World Trade
Globitex is an institutional grade Bitcoin exchange, with unrivalled API capabilities for direct market access. The project has received over EUR 1,000,000 in venture capital funding with the aim of building a Bitcoin exchange that reflected the team’s vision of how an exchange should work in terms of connectivity, matching, settlement and reporting. Today you can trade Bitcoin and Bitcoin Cash against Euros on the Globitex exchange.
The Company may partner up with other regulated and unregulated entities in order to attain the business goals described in this paper, such as provision of payment or investment services for example.
Globitex Aims and Project Strategies
They also plan to develop cryptocurrency market, which will enable eligible market participants lend out their assets at specific maturities by setting market-based interest rates. The major boost in increasing liquidity and equalising supply and demand for Bitcoin in the spot market will be the development of a money market, which will make Bitcoin the most liquid currency.
The ICO will take place on their website at www.globitexico.com
Start date: The token sale will start on the 8th of November, 2017 by 12:00 UTC.
End date: The token sale will end on 7th December, 2017 by 17:00 UTC or 72 hours after the soft cap has been reached.
There will be discounts for early participants during the token sale:
15% discount for the first 20,000,000 GBX Tokens sold
10% discount for the next 30,000,000 GBX Tokens sold
5% discount for the next 50,000,000 GBX Tokens sold
Token name: Globitex Token
Token symbol: GBX
Token lifetime: 10 years (subject to extension)
Token execution environment: Ethereum platform
Token standard: Ethereum EIP-20 (previously known as ERC-20) compliant smart contract
Token decimal units: 8
Token sales currencies: Ether (ETH), Bitcoin (XBT), Bitcoin Cash (BCH)
Token emission standard price: GBX 1 = EUR 0.10
Minimum sales target incl. pre sale: equivalent of EUR 1,000,000
Sales cap: equivalent of EUR 10,000,000
Minimum purchase amount: equivalent of EUR 10
Maximum purchase amount per buyer: equivalent of EUR 3,000,000
Sales start date: before February 2018. To be announced on www.globitexico.com
Sales end date: To be announced on www.globitexico.com
The GBX Token will be sold during the token sale in exchange for Ether (ETH), Bitcoin (XBT) and Bitcoin cash (BCH). Token distribution will be done after the end of token sales.is interned for the business development goals divided into three parts, enabling the team to use the proceeds in order to achieve the goals set forth.
Scale spot FX, where Bitcoin can be traded vs. major fiat and other cryptocurrencies
This will involve business development efforts for establishing additional banking relationships with bank partners around the globe and across the currency spectrum.
This will also involve the undertaking of a thorough security and business evaluation, including development of extensions for the payment system based on the highest security standards before adding other cryptocurrencies as trading instruments on Globitex.
Develop Bitcoin money markets — BIBOR
Aggregate the leading interest rate markets for Bitcoin margin lending, including the one developed by Globitex at stage I, in order to form a tradable interest rate product.
Name it “BIBOR” (Bitcoin Inter-Broker Offered Rate) and offer BIBOR futures trading, thereby setting the standard reference rate for the Bitcoin economy capital markets. Furthermore, expanding to money markets in other cryptocurrencies based on market appetite.
List bitcoin priced Globitex commodity index — GCOM
Aggregate various groups of commodities, listed in the previous stage, as cash settled futures, such as energy, grains, industrial metals, precious metals, softs, livestock, into a Bitcoin priced index. Such index would reflect Globitex and other exchange listed commodities value in Bitcoin.
The index would have a specific weight for each commodity group. The index would first serve the purpose of a reference price, and may later form the bases for a tradable index futures product. Name the index Globitex Commodity index “GCOM” and prepare to offer GCOM futures trading.
GBX Token Specs:
Public Sale Discounts:
Company Token Lock up Periods:
In this White Paper we have laid out a plan for how Globitex, by means of issuing the GBX Token intends to tackle Bitcoin’s economy scaling issues. We have, along the way, examined the importance of money markets and commodity trading, and why such assets should be linked to Bitcoin.
We have presented the legal setup for achieving the goals of the project, and enumerated the roadmap for stages of business development. The technical description of Globitex product demonstrates the soundness of Globitex as a technically robust system, capable of scaling to the necessary industrial trading level, with a capacity to accommodate standardised money markets and commodities listings.
Globitex was founded by a team of traders to bring their expertise and vision to the Bitcoin industry. The founding team has previously worked together for many years in asset management, primarily trading spot commodities and derivatives on global futures and derivatives exchanges, including jurisdictions such as China, Japan, USA and Europe.
Globitex Chairman Jon Matonis joined the team in 2015, bringing to the table his extensive track record as an executive of technology companies, Bitcoin visionary as well as his own trading experience in commodities markets.
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