GlobeDX — Report by Crypton Research
GlobeDX is a cryptocurrency exchange that allows individual and institutional investors to trade cryptocurrencies through derivatives. GlobeDX is called “Coinbase for Derivatives”. Globe shares not only its depth of vision, but also the first investors of Coinbase.
It is Institutional class exchange for payment, providing a delay of 3 microseconds and extreme throughput and efficiency during market movements. Moreover, open data Globe and Globe Research level the playing field in terms of data traders and institutional investors.
Source of information
James is a technologist, digital asset pioneer, former trader and investor.
He was born in England. He studied at the University of London, where he received a PhD in biostatistics. His doctoral dissertation has appeared in top scientific publications and has been cited about 600 times. After graduation, he headed the Grove Capital Management team. Within 4 years, the fund grew from $30 million to $500 million. Since 2018, he has been the CEO
of Fifth Row Technologies, which deals with low-latency Al technology. Since 2019, he has been working on GlobeDX, which is the topic of this research.
Shaun is a crypto enthusiast, trader and former theoretical physicist. He holds a Master’s degree in astrophysics from the University of Cambridge.
His research work was based on gravitational waves. He is the CTO of Fifth Row Technologies. He worked for the Y COMBINATOR fund, which is also one of Globe DX’s investors.
A total of 15 people are working on the project.
GlobeDX provides a trading platform to buy, sell, trade and exchange cryptocurrencies and digital assets. It supports high frequency and low latency transactions.
It offers investors the ability to access global derivatives markets. The platform allows you to trade on global markets via the Internet, mobile phone, FIX system or WebSocket. Retail investors and institutions can trade digital currency with derivative products that track an underlying price index.
GlobeDX also allows you to hedge and manage risk, limit short-term exposures and trade with leverage (x100 leverage).
Globe stands out from other exchanges. Its launch paves the way for modern second-generation exchanges. It transfers fragmented existing indefinite contracts under one roof, they can be registered in a few seconds, provides and withstands an order of magnitude greater market tension than the exchanges of the previous generation, offers insured storage for the so-called stock market cold wallet, easy to use web API.
The main goal is to enable everyone to have trouble-free access to trading resources in all markets, e.g. buying real estate futures, trading energy, gold, oil.
To make sure that the perpetual contracts are correlated with the price of the underlying asset they track (e.g. Bitcoin), the exchange will adjust the perpetual value every 8 hours.
The Globe was built with a proprietary order and risk matching engine called Thor that “could rival Nasdaq in latency and throughput”.
GlobeDX has a very intuitive interface to facilitate the use of the platform. Users can choose from 3 layouts that change the page layout.
Each major, significant exchange has its own utility token. GlobeDX also has a token called GDT (Global Derivative Token). As the globe team says, the token was created to support the long-term security and integrity of the Globe markets and improve growth and provide a more refined and enjoyable user experience..
- trade fees discounts on fees (100GDT = 5% discount, 10000GDT = 20% discount)
- staking (provides additional rewards in the form of a globe)
- security protection for trading pairs
- Seed round — 11% total supply | price: $0.15 | 6 months lockup | vesting 3 months
- Strategic round — 3,5% total supply | price: $0.40 | 3 month lockup | vesting 3 months
- Private round — 1,5% total supply | cena: $0.8 | 1 miesiąc lockup svesting 2 months
- Public round — TO BE UPDATED
GlobeDX — 30%
Team — 20%
Users — 20%
Ecosystem — 15%
Insurance — 15%
Tokens will be redeemed by GlobeDX and burned every week. Eventually 50% of the total supply will be burned.
The exact tokenomy will be published by the team soon.
An XBT (bitcoin perpetual) draw takes place on the platform every 2 weeks. In order to take part in the draw, you must complete certain tasks on the stock exchange website.
On November 20, Globe DX raised $3 million USD from investors in the seed round. Top investment funds took part, including: Pantera Capital,
Y Combinator, Draper Dragon.
Globe plans to attract institutional liquidity providers to its platform first.
“We provide them with seamless integration and the wealth of traditional futures exchanges such as CME Group, New York Stock Exchange, Japan Exchange Group, etc.”
“Then we focus on the types of quantitative mutual funds that now think of one or two cryptocurrency exchanges, allowing them to trade in traditional markets.”
Based in the United States, the Pantera Capital investment fund is one of the top funds investing in blockchain technology. Established in 2013 when bitcoin’s price was up to $ 65. It has a very rich portfolio, which currently includes, among others Coinbase, Bitstamp, Polkadot. Paul Veradittakit, partner at Pantera Capital, said there was a “wave of interest” in crypto assets from major banks, fintech companies and portfolio managers, and the Globe platform and products were built to meet their needs.
Y Combinator is a startup accelerator. They invest in companies in the early stages. The company was founded in 2005 and since then they have achieved successes with, among others, Coinbase (it’s not a coincidence that Globe is called Coinbase for derivatives), Dropbox, twitch, reddit, Doordash, etc. Interestingly, Y Combinator itself had support from Sequoia Capital (I won’t write about them, it’s worth reading)
Draper Dragon was founded in 2005. Their portfolio includes, among others, telegram, vechain, ledger. Co-founder Tim Draper is one of the early bitcoin investors that made him a billionaire. He is one of the investors in coinbase, Tesla, SpaceX, Robinhood.
The project promises to be extremely interesting. Globe comes at a time when there is increased interest in the cryptocurrency space from traders and investors and as the market grows. Moreover, since the beginning of this year, there has been a growing interest in using derivatives.
The platform solves the problem of lag, but … why do microseconds matter?
It usually takes the market 100ms to process some economic event and figure out what to do. Algorithms take time to predict price direction. Being able to react in faster time frames can start to mean traders will get fair prices by using GlobeDX.
Research: Wojtek || Crypton Research Group