Sat, 17 Nov 2018

Globitex

Globitex

Institutional Grade Bitcoin Exchange

Review Project

PROJECT  Globitex is an institutional grade Bitcoin exchange, with a fully functional FIX API connectivity,offering direct market access for algorithmic traders. Launched in the summer of 2017 as a working prototype, it is being tested in a limited Beta mode and is expected to begin open public operations by the beginning of the year 2018.Having built the exchange to meet sophisticated institutional client needs, we now operate Globitex from the starting point of allowing the exchange of the Bitcoin and Euro trading pair on a secure and well-established platform. Building Globitex with a view to the future, however, requires tackling one of the major issues that Bitcoin faces: liquidity, or the current lack thereof.

As Bitcoin liquidity increases, and as large money orders can be easily accommodated,Globitex will then enable standardised listing of various commodities futures and options on an open order book basis. The derivative contracts will be physically deliverable and exchanged in Bitcoin as the underlying currency. For example, the counterparties in a derivatives contract could exchange physical commodities (crude oil, jet fuel, gold, silver, copper, corn, etc.) for a fixed amount of bitcoins at the maturity of the contract, or opt out of the physical delivery and settle in bitcoin instead.

Scaling Globitex into a global spot and derivatives trading venue will allow producers to purchase exchange listed products for Bitcoin. Trading firms and speculators will also be able to hedge their risks in Bitcoin with derivatives contracts. Thus, scaling the Globitex exchange will benefit Bitcoin and foster its development as a medium of exchange that is suitable for facilitating global trade, overcoming geographic, political or monetary restrictions.

The Core System  The Core System consists of a set of services that ensure the operation of the exchange.The central components of the Core System are the Risk Management System, the Order Matching Engine, the Clearing and Settlement System, and the Data Feed Services. To handle high system loads and ensure fault tolerance, the Core System is designed to be modular, redundant, and CPU cycle and cache efficient. The system relies on advanced queuing and messaging techniques to achieve the highest throughputs with the lowest atency requirements. Ultra-low-latency communication protocols are used to connect the trading interfaces with the core modules.

The Payments component is the most security sensitive part of the exchange platform. It consists of the Fiat Payment Processing Module, a Cryptocurrency Payment Processing Subsystem, an Accounting Module and Payment Workflow Engine. It is tightly linked with the other Core system modules, like the Risk Management System for balance checking, the Clearing and Settlement system for trade booking and AML (Anti Money Laundering) system for transaction checking. The Fiat and cryptocurrency payment processing system consists of micro services providing the interfaces to be integrated with several third party payment systems and cryptocurrency networks.

GBX Token  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 0.1, the client opting to use GBX as payment for trades will be able to enjoy the following bonus: GBX 1 = EUR 0.1 + 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.

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.

Token Sale

Crowdsale Opening Date

08-11-2017

374 days ago

Crowdsale Closing Date

07-12-2017

345 days ago

Allocations

Token Distribution

Distribution

Allocation
Token Sale contributors 80 %
For Maintenance Company 20 %

 

Bounty Distribution

Activity

Allocation
BitcoinTalk ​Signature 30 %
Blog ​Article ​& ​Video
30 %
Social ​Media 20 %
Translations 20 %

Team

Name

Position
Jon Matonis Chairman
Liza Aizupiete Managing Director
Arvis Ermins Director and Head of Compliance
Maris Kaneps Director and Head of ITU
ldis Teraudkalns Chairman of the Supervisory Board
Viesturs Tamuzs Board Member
Andris Kaneps Board Member
Mark O’Byrne Bullion Dealer and Gold Market Analyst
Carlos Blanco Risk Analytics and Financial Modelling Expert
Ransu Salovaara Token Sales Strategist

Roadmap

Q4 2017

   >> Globitex ICO Announcement

   >> Launch of Bitcoin Cash Trading, Deposits and Withdrawals

   >> Partnership with Electronic Money Institution

   >> Globitex Token Sale

Q1 2018

   >> Open Public Launch of Globitex Services

   >> Launch of Additional Cryptocurrency Trading Pairs

Q2 2018

   >> Launch of Additional Fiat Trading Pairs

Q3 2018

   >> OTF (organised trading facility) Licensing

Q3 2018

   >> REPO (Margin) Trading Launch

Q1 2019

   >> BIBOR (bitcoin inter-broker offered rate) Launch

   >> Listing of Bitcoin Settled Commodity Futures

Q2 2019

   >> Listing of Cryptocurrency Futures, Swaps and Vanilla Options

Q3 2019

   >> Listing of Bitcoin Priced Globitex Commodity Index - GCOM

   >> Physically Deliverable Precious Metals

Q4 2019

   >> Physically Deliverable Other Commodities

Written By

Isuk
Profile
ETH : 0x237706bfE11D4C4E148b4764c8f7Da37743657d4