Interview with Oleg Torkhov the Co-founder and CEO of Betexlab

Vladimir Nikitin: Hello Oleg. Tell me about the idea behind Betex?

Oleg Torkhov: Betex is a leading-edge platform for P2P financial derivatives trading. It enables users to place bets on future changes against each other. As a platform provider, we cannot engage in betting. Thus, there is no way for us to benefit from it. We only profit from collecting service fees.

Betex is the only platform where as much as 95% of funds are distributed among traders who succeed. Betex only profits from collecting service commission of 5% (thereby, 2.5% are transferred to the holders of BETEX tokens). The model of Betex is claiming to return credibility to the binary options market and has many advantages compared to the traditional models. As a platform provider, Betex cannot engage in betting, which makes the process unbiased and immutable. 

Vladimir Nikitin: What are the reasons for increasing the price of BETEX tokens?

Oleg Torkhov:

1. A fair starting price. As we are going to distribute all unsold tokens between buyers, we will receive the start price of token determined by the market. So this fact turns our token sale into an auction.
2. We are going to launch our platform on the main net in April. From this moment the platform will start to bring in profits for BETEX token holders. The more profit the greater the real value of the token. Important too is that our business model allows Betex tokens to grow even on the falling market.
3. We are going to hit exchanges in April.
4. We already have traders/brokers who will start trading once the platform is launched.
5. The profit of our platform does not depend on the absolute value of crypto assets but only on platform’s turnover. So we can make the same profit when BTC= $7k or when it is $20k.

Vladimir Nikitin: What is the current state of the product? Is it ready to go live? What about your ICO campaign?

Oleg Torkhov: Currently, it is already possible to try the work of the platform in action. In order to clearly demonstrate the benefits of the common pool of liquidity, two samples of the platform were launched as MVPs in the Ropsten test net. There are 3 trading pairs and 6 trading intervals available within the MVP framework.

The official launch of the Betex platform is planned already for this month, April 2018. We have already reached the soft cap during pre-sale and have two more weeks of the ICO campaign ahead. So, we invite everyone to contribute as investors.

Vladimir Nikitin: We can see all over the world that the binary options platforms are getting closed and face a lot of restrictions. What is the guarantee that Betex won’t fall under those?

Oleg Torkhov: The main reason why binary options are being banned now is the price manipulation and cheating of traders from the brokers’ side.

In our platform, we have closed all the opportunities for cheating and manipulating. We went even further — we have completely changed the business model and integrated the blockchain technology for full transparency. So I believe that our approach will allow the binary options industry to be reborn.

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