Globitex GBX Token

Your Link To Institutional Grade Global Bitcoin Exchange

Overview

The Bitcoin protocol has the right formula 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. In order to facilitate the use of Bitcoin as an industrial scale medium of exchange, Globitex propose taking the existing Globitex exchange infrastructure and scaling it up into an exchange that has global spot and derivatives exchange capabilities, where standardised instruments in money markets and major commodities are listed with cash settlement and later physical delivery, and where Bitcoin is used as the underlying currency - a unit of account. To realise this goal, Globitex is issuing the GBX utility Token. The Token will be issued as an EIP-20 (previously known as ERC-20) compliant Ethereum smart contract. [2] The GBX Token will primarily be used for the settlement of trades on the Globitex exchange, serving as a commission payment token. The GBX Token will also function within loyalty programs planned for Globitex clients and contributors, whereby the contributors will be participating in the company's overall success. The GBX Token can be acquired during the Globitex token sale (www.globitexico.com) using Ether (ETH), Bitcoin (XBT) and BitcoinCash (BCH).

Globitex

To realise the business goals set forth, 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).

Here is a description of the GBX Token :

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 .

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.

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.

Early Participation Discounts During Public Token Sale

- 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.

in order to get more information please visit :

- Official Website : www.globitexico.com 

or Read White Paper : https://www.globitexico.com/wp.pdf 

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