Official GBX Bounty Program

To realise the business,an Ethereum EIP-20 (previously known as ERC-20) smart contract protocol based token (the GBX Token) — will be issued by Globitex Limited, private limited company (the Company) incorporated in Gibraltar fully owned by AS Globitex Holding (Latvia). The Company will use the proceeds from the token sale to obtain various rights to use, exploit and licence the existing Globitex IT

infrastructure and trading platform. The Company will also use the token sale proceeds to further develop the eco-system, infrastructure and trading platform according to the aims described in this White Paper in order to develop the services that the Token can be exchanged for.

Application The GBX token will serve the primary purpose of a means of settlement of trades on the Globitex exchange, serving as a commission payment token, as well as used within loyalty programs.

Redeemed GBX Tokens are intended to be burned and therefore permanently
removed from circulation.GBX Tokens will be usable to cover commission payments for the trades made on the Globitex platform.

All registered clients of the Globitex exchange will be able to redeem GBX tokens as payment for commissions. Initially the tokens will be subject to a significant premium of no less than 20%. For example, at a price of GBX 1 = EUR 0.10, the client opting to use GBX as payment for trades will be able to enjoy the following bonus: GBX 1 =EUR 0.10 + 20%. Over time, depending on overall Company’s success, the bonus will largely increase in order to stimulate widespread utilisation of GBX tokens for trade settlement.

Furthermore, Globitex will offer other Company success-related member loyalty programs to reward its clients and token holders during the GBX Token lifetime.Overall, GBX Token is expected to have a 10 year lifetime, during which time, tokens can be redeemed, loyalty programs and other success-related benefits enacted. After 10 years will have elapsed, the Company will review the GBX Token program and make the necessary
adjustments on continuation of the program.


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.

Token/Cryptocurrency Index Futures Likewise, as the overall market for tokens and cryptocurrencies develops and becomes more sophisticated, Globitex will be in a position to standardise a relevant selection of tokens and cryptocurrencies into indices. Such indices will function much like traditional equity indices, for which there will also be a standardised futures market, provided by Globitex.

Futures & Options — Exchange Traded Volumes in 2016

Future Provisions

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.

ICO details

The ICO will take place on their website at

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 Details

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

Sales end date: To be announced on

Token Sales

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 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:

Token Distribution:

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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