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.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 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. GBX Tokens will be usable to cover commission payments for the trades made on the Globitex platform. 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.