Globitex, Connecting the Digital Currency with The World Trade

Bitcoin and cryptocurrencies based on the Bitcoin protocol are here to stay. At its core, the Bitcoin protocol has the right formulae for it to become the leading universally accepted currency. Bitcoin already functions as a store of value and medium of exchange. But, in order for it to gain significance as a unit of account in global trade, it needs to scale both technically and economically.

What is Globitex ?

Globitex introduces a digital currency exchange allowing everyone to trade commodities and money market instruments for Bitcoin. The existing institutional grade Bitcoin exchange, with unrivalled API capabilities will scale into a global spot and derivatives trading venue. It will allow producers to purchase exchange listed products for Bitcoin, and trading firms and speculators to hedge their risks in Bitcoin with derivatives trading. This will therefore increase the use cases for Bitcoin as a medium of exchange and ultimately establish Bitcoin as a unit of account suitable for global trade, with no geographic, political or monetary restrictions.

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.

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. 

GBX Token

To realise the business goals set forth in this paper, 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.

Token Details

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.

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

Early Participation Discounts During Public Token Sales

10% discount for the first 5,000,000 GBX Tokens sold

5% discount for the next 10,000,000 GBX Tokens sold

Additional Company Success-related Rewards

10% success rewards for the lifetime of GBX Token

Token Distribution and Lock up Periods
65% of GBX token pool are sold to contributors, whereas 35% are allocated to the Company for future use, including: 5% for bounty and referral programs; 10% for business development (e.g. team expansion, marketing, security rewards, conferences etc.); and two tranches of 10% released every consecutive year, following the end of the Token Sale for further business promotion.

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 sales.

Team

Details Information : 

Website : https://www.globitexico.com/

Whitepaper : http://globitexico.com/wp.pdf

Facebook : https://web.facebook.com/globitex/?_rdc=1&_rdr

Twitter : https://twitter.com/globitex_

Telegram : https://t.me/globitex

Profile Bitcointalk : https://bitcointalk.org/index.php?action=profile;u=1080284

ETH : 0xe6068eEEfeC51cA6a04d327B936035d123FE1098