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- Binary options trading platform
- $1.35 = 1 BINARY token (minimum bid)
- November 15, 2017 — December 25, 2017
- 10,000,000 total available / 10,000,000 total supply
- Binary.com has 15 consecutive years of net profit
WHAT IS BINARY.COM?
Binary.com was founded in the late 90s with the purpise of making binary options easily accessible to retail investors globally. Today, we are a profitable and debt-free company with an accumulated turnover of over $3 billion USD since launch.
Naturally, the next step for a company of our size and maturity is to go public by means of an Initial Public Offering (IPO). This would allow us to raise fresh capital to spur further growth.
However, an IPO in itself is a complex and slow-moving process. So we decided to perform an ICO, or “IPO on the blockchain” instead.
Q&A with Jean-Yves Sireau, Founder of Binary.com
Interviewer: How does the Binary.com token (BINARY) function within the platform and why is it needed?Binary.com:Our securities-backed tokens are unlike the utility or in-app tokens issued in most ICOs. Our tokens give token holders the right toreceive dividend payments — just like shares. They also have the right to convert the tokens into ordinary shares. We’ve structured the tokens this way because we’re effectively performing this ICO as a substitute for an IPO, and we’ve been able to do this thanks to the progress of blockchain technology and smart contracts.
Interviewer: For those not familiar with Binary Options Trading, can you describe that system and outline its benefits?
Binary.com: A binary option is a type of option with a fixed payout. The “binary” in its name comes from the fact that it only has two possible results. Its simplicity forms a large part of its appeal. It also comes with a fixed payout that’s determined before you purchase the option. One of the best things about binary options is the fact that your losses are always limited to your initial stake, unlike other types of trading where your losses can exceed your initial stake.
Interviewer: Binary.com is already a successful, thriving business. Why hold anICO now?
Binary.com: As mentioned earlier, we intend to generate fresh capital to further our growth. The funds will go towards creating sustainable organic growth and funding high-growth initiatives that can boost our core commercial capabilities.
These include developing new and existing offices, including our Japan office; applying for licenses to operate in strategic jurisdictions; enhancing our IT infrastructure to increase our competitive advantage; increasing our digital marketing budget; and expanding our operationalcapacity.
Interviewer: Is the market for Binary Options Trading growing? What current issues are affecting the market, and how do you plan on solving them?
Binary.com: Yes, the market is definitely growing. For instance, we’re seeing a lot of organic growth in Asia, especially in the far east that also happens to be the world’s leading market for binary options.
One of the biggest issues to affect the market in recent years is the increased scrutiny and crackdown on binary options due to the scams perpetrated by fraudulent brokers. However, we believe this may have a positive outcome in the end as legitimate platforms such as Binary.com that have a history of operating under strict compliance don’t have to compete against fraudulent brokers anymore.
As a company, we’re focused on managing the risks that may affect our business, including business, regulatory, technology, and operational risks. We take potential risks very seriously, and we’ve established dedicated teams to continually review the systems, processes, and controls we’ve implemented across the company.
Interviewer: Each token provides the holdertwo exclusive “token holder rights.” Can you outline these two options and the benefits of each?
Binary.com: One of the “token holder rights” gives token holders the right to receive dividend payments. This is in line with how we’re approaching our ICO — as a kind of “IPO on the blockchain.” By giving token holders the right to receive dividend payments, we’re essentially allowing them to benefit from the tokens just like shareholders.
The second right allows them to convert their tokens into ordinary shares. Our tokens are issued as derivative securities that are convertible into ordinary shares. They do not represent shares directly as corporate laws in most jurisdictions have yet to establish blockchain-based share registers.However, the tokens carry economic benefits equivalent to ordinary shares, and they can also be traded on a cryptocurrency exchange. This means that there would be no practical reason to convert their tokens into shares.
Interviewer: In addition to running an ICO as a means of crowdfunding, does Binary.com have plans to adopt blockchain technology for implementation into its own business?
Binary.com: Yes, definitely. Blockchain technology is too powerful to be ignored. For a start, we’ve already implemented cryptocurrency-denominated accounts that allow our clients to trade on our website natively using Bitcoin Cash, Bitcoin, Ethereum, and Litecoin. Another area we’re looking into is the support for alternative markets such as cryptocurrencies and smart contracts on our MT5 platform.
Interview: What separates you from other Binary Options Trading exchanges within the industry?
Binary.com: We’ve always believed in simplicity, variety, and innovation. This translates to products that are intuitively easy to navigate; more product variety that keeps our clientscoming back; and an obsession with making our products better. Our clients know this and they know that by trading with Binary.com, they’re trading with the most competitive binary options trading platform available in the market today.
Interviewer: The Ethereum network has occasionally suffered from slow transaction times. Is there any concern that this may affect the Binary.com platform?
Binary.com: We don’t have any particular concerns about the Ethereum network congestion. Potential investors have until December 25 to bid on our tokens, giving them ample time to deposit their funds for the auction into their Binary.com account.
Interviewer: As a non-Binary.com question we like to ask for unique predictions for the ICO and crypto currency space in thefuture. Where do you see both in the next 3–5 years?
Binary.com: We believe that the vast majority of ICOs launched in 2017 have absolutely no chance of success. Many of them are just flashywebsites with no viable business models to back their claims. We’ll definitely see a major crash in the ICO space. What we should really be asking is whether the coming crash will affect major cryptocurrencies such as Bitcoin, and by how much.
The main ICO began on November 15, 2017 and will end on December 25, 2017. There are a total of 10,000,000 Binary.com tokens (BINARY) available during the main ICO, representing 100% of the total Binary.com token supply.
BINARY tokens will be offered via an auction process. To place a bid, the user just needs to deposit 5% of the total bid price upfront. After the auction is over and the final price is determined, the user will have two weeks to deposit the balance payable depending on the final token price.Minimum bid
$1.35 = 1 BINARY token
Current accepted currencies include ETH,BTC, BCH, LTC. Fiat currencies including USD, GBP, EUR, AUD, will be accepted as well.
BINARY is an ERC-20 token, so it’s important that contributors use ERC-20 compatible wallets to send funds to the ICO smart contract, and to receive the BINARY tokens.
Token Distribution Information
There are a total 10,000,000 Binary.com tokens being created, with 10,000,000 available during main ICO.
Each token holder has the right to receive payments equivalent to shareholder dividends. Learn more about the token dividends model by visiting the Binary.com website here.The tokens will be listed on the Lykke Exchange, where they can be traded after the ICO. This means token holders can capitalize on any rise in value, just like shares on a stock exchange.