- Overview and Highlights
The crypto asset industry, which is only a decade old, has made great strides in recent years. At the end of 2017, the total market cap once exceeded 600 billion US dollars at the peak. The traditional financial industry has its asset managed by custodian banks and has a relatively mature asset protection system. However, such an open and transparent custody mechanism has always been missing in the crypto asset industry. The lack of this underlying infrastructure has become a bottleneck restricting the growth of the industry.
Bluehelix decentralized custody and clearing platform emerged as the time required.
Bluehelix uses Cryptography and Blockchain technology to support decentralized association governance capabilities at technical level, realizes trusted and efficient custody liquidation of token assets in blockchain, and solves the core problems faced by centralized trading platform. This innovative asset clearing and custody technology has brought a disruptive innovation to the crypto asset market, enabling users' assets to be better protected than bank-level security.
With the help of Bluehelix's technical capabilities, BHEX trading platform can maintain the high performance of millions of transactions concurrently after achieving the security and credibility of decentralization. Bluehelix adopts the model of super-node and global custody and liquidation blockchain technical framework, and has the traditional financial level of business, technology and compliance capabilities. Users' assets are managed entirely through decentralized blockchain technology, providing transparent services for crypto assets to individuals and institutions.
- Overall Introduction
2.1 BHT introduction
BHT is the token issued by BHEX trading platform ecosystem, which carries the core values of BHEX ecosystem, including BHEX trading platform, BHOP open platform and the decentralized custody and clearing platform supported by patented Bluehelix blockchain infrastructure technology.
2.2 BHT status
[Token Name] BHT (BHEX Token)
[Token Type] ERC-20
[Token Issuance] Fixed total 2.1 billion tokens
[Token Price] 1BHT = 1/85000 BTC (BHT is not for sale but used to reward seed users who purchase point cards and participate BHEX platform campaigns).
[Trading Time] December 2018, for detailed information please refer to the official website www.BHEX.com.
BHEX Token Distribution Scheme:
- 10% of the total issuance, or 210 million BHT, is allocated to institutional private placement to reward the support from institutional investors, the recruitment of Bluehelix governance members and product development. 10% will be vested immediately after trading started on secondary market, the rest will vest quarterly and linearly for the next 2 years
- 10% of the total issuance, or 210 million BHT, is allocated to BHEX early angel investors. The lock-up period is 4 years and will vest 1/4 every 12 months.
- Around 10% of the total issuance, or 215 million BHT, is used to motivate seed users who support the platform in early stage. 15 million BHT has been rewarded through platform activities with no lock-up period. The remaining 200 million will be locked for 1 year from January 1st 2019 to January 1st 2020, and will be used for future marketing campaign.
- Around 15% of the total issuance, or 310 million BHT, is allocated to the Investor Protection Fund which is used to protect user rights and interests after unforeseen blockchain technology and business risks. It is managed through a smart contract, and will be unlocked according to the needs of fund operations.
- 20% of the total issuance, or 420 million BHT, is allocated to the operating team, with a lock-up period of 4 years, vest 1/4 every 12 months. The development cost and operation cost of the company are borne by equity financing and are independent on BHT. BHT is only used for additional incentives and rewards for development and operations teams.
- 35% of the total issuance, or 735 million BHT, is used for community ecology and strategic partnerships for BHEX and Blue Helix. The lock-up period is 4 years, and will vest no more than 1/4 every 12 months.
2.3 BHT Innovative Aspect
- Innovative Blockchain Technology Bluehelix
- The bottom layer of BHEX is Bluehelix decentralized asset custody and clearing technology, which is based on blockchain technology and community consensus mechanism, and integrates cryptography and blockchain technology to support decentralized association governance capabilities at technical level.
The original Bluehelix technology, through the global committee governance method supported by decentralized cryptography and blockchain technology, establishes an independent custody and clearing platform totally governed by the community, becomes the blockchain industry infrastructure, and improves the industry ecosystem. It can truly support the decentralization of the circulation, custody and clearing of crypto assets in future.
The decentralized custody and clearing of crypto assets are supervised and governed by the community through the BHPOS consensus mechanism; through the decentralized private key management, multiple validation of transaction instructions, community asset clearing consensus mechanisms, the goal of asset security and credible transaction can be achieved, which can effectively solve the security and trust problems faced by the original centralized crypto asset management platform.
- SaaS Open Platform Enabling Partners
BHOP is the “Blue Helix Open platform", an open SaaS platform based on Bluehelix decentralized custody and clearing technology and BHEX infrastructure. It has the key advantages of asset security, transaction credibility and lateral performance expansion.
BHOP mainly provides technical services to partners who are operating or are preparing to operate the crypto asset trading business. Partners can quickly start the business completely managed by themselves at zero cost by tapping on the capabilities of SaaS platform through BHOP, so as to realize the complete independent control of customers, data, brand and technology. Partners with R&D capabilities can also customize their products through BHOP authorized source code. BHOP can fully meet the needs of personalized trading platforms for different industries and different types of crypto assets, and can effectively help partners create unique competitive advantages.
- BHT usage
1) Get 80% of commission income of BHEX exchange, open platform brokerage and open platform SaaS exchange according to the proportion of BHT holding amount.
2) Obtain the right to use the SaaS service of BHEX Virtual Securities Broker and Open Exchange by mortgage of BHT.
3) Be eligible for election of Bluehelix clearing Association members by mortgage of BHT. After successful elected, it will receive a share of the revenue of the custody and clearing platform.
4) Obtain the voting rights of Bluehelix Clearing Association by mortgage of BHT. After successful voted, it can get the revenue share of the clearing business.
5) Can participate in the platform operation activities such as voting on listing, eligible for airdrop.
- Founding Team Introduction
The founding team comes from top Internet and financial companies, including Google, Tencent, Baidu, Alibaba, Barclays Capital and Société Générale. The team has a rich background in global finance, blockchain and internet.
James JU, BHEX Founder & CEO
James is a senior technology expert and a serial entrepreneur. He has extensive experience in the fields of Finance, Internet security, Cryptocurrency, and Blockchain technology. From 2017 to 2018, he served as Vice President of Technology in X Financial. During his tenure, X Financial (XYF) was successfully listed on the New York Stock Exchange. From 2014 to 2017, he served as CTO of Huobi Global. He led the team and built Huobi Pro’s core trading platform. He used to be the CTO of well-known Internet companies such as Damai.com, and built the SaaS ticketing system of Damai.com, which is the largest ticketing website in China.
Tyler WU, BHEX Global Managing Director
Tyler obtained his MBA from University of Illinois at Chicago, USA. He has entrepreneurial experience from Los Angeles to China on online education, Internet healthcare, and enterprise coaching. Tyler worked for Kaspersky in 2008 - 2011. After that, he joined Huobi as Assistant President and started Huobi Global Expansion as Global Managing Director. He was the first one stepped out for Huobi Global Expansion, successfully established Huobi Korea, Huobi Singapore and other localization business from scratch.
Kai WEN, Vice President of Bluehelix Technology
Kai graduated from Stanford University with Ph.D in quantum cryptography, information theory, and optimization algorithms. In 2012 - 2015, he worked for Google in the United States and was responsible for the engineering and optimization of YouTube mobile advertising. He went through the outbreak of mobile advertising. In 2015, he returned to China to engage in wearable devices and artificial intelligence entrepreneurship. The products service the world’s top 500 companies and governmental institutions at all levels. In 2018, he collaborated with Google's colleagues on a project involving artificial intelligence and blockchain and was responsible for technical architecture and blockchain consensus mechanisms.
Kailiang JIANG, Chief Blockchain Architect
Kailiang is a core developer of the former BaaS blockchain platform of WeBank. He was responsible for the development of the underlying blockchain platform. He was also the Head of Tencent QQ game back-end technology and was responsible for the overall back-end architecture and support for more than 15 million online platforms. He is currently working on the underlying technology development of the blockchain and blockchain-related research applications such as cryptography, storage, and consensus. He has very rich experience in distributed service architecture, service governance, and mass services.
Fulin TANG, BHEX VP of Technology
Fulin Graduated from Beijing Normal University and won top three in the ACM/ICPC in Beijing district in school days. Fulin is an Internet senior system architect, technology expert and has more than 10 years of managerial and practical experience. In 2017-2018, he served as Chief Architect of X Financial, a NYSE-listed company, and was responsible for the company's technology architecture, middleware, infrastructure, and big data platforms. He was the Chief Architect of Snowball from 2015 to 2017 and was responsible for the company's technical team building, basic services and big data platform. From 2010 to 2015, he served as a senior architect of Sina Weibo (stock code WB) and was a member of the Sina Weibo Technical Committee.
Junwei HOU, BHEX VP of Operation & Maintenance
Junwei obtained his Master degree from Northwestern Polytechnic University and specialized in computation theory. He is the senior database, operation, and maintenance expert, and he has served as the person in charge of the Bian Li Feng operation, the person in charge of the Meituan Group network database, the former senior DBA in Sina Group, has contributed the core code for Myql operation and maintenance tools, has great influence in Mysql Database community.
Boli WANG, BHEX VP of Financial Product
Boli holds a bachelor’s degree from the Hong Kong University of Science and Technology and a master’s degree from Columbia University. Boli then joined the EFS cross asset structuring team in Barclays Capital in New York, where he specialized in structured products and cross asset risk premia, targeting hedge funds, private banks, and other institutional clients.
Boli priced over 1 million USD notional equivalents of structured products on a daily basis and he initiated a commodities risk premia index which had over 50 million USD notional AUM after launching.
Yang BAI, BHEX VP of Exchange Operation
Yang graduated from School of EECS, Peking University and received his master’s degree from Columbia University. He worked at the Credit Index desk for Fixed Income department and proprietary trading desk focusing on high yield bind and junk bond in Société Générale Americas Securities New York City with a daily trading volume at multiple million. He is familiar with secondary market, derivatives and cryptocurrency trading.
Ke XU, BHEX Chief Security Officer
Xu Ke graduated from Tsinghua University with a Master in Computer Science. He used to work as an internet architect in Tencent and Baidu and has over 15 years of experience in Internet security, e-commerce, Finance, and AI. He has successfully launched a few start-ups. Ke has rich experience in high concurrency and high security system architecture and has designed and launched the most advanced online gaming security system. Ke has an in-depth understanding of Cryptocurrency, Blockchain technology, and trading systems.
Bella WANG, BHEX Director Business Development
Bella graduated from University of California Santa Cruz with a Bachelor in Economics and Computer Science. She has a diverse background with over 10 years in business operations, business development, partnership, and talent management in the high-tech industry from Google and Tencent. She has launched and operated enterprise product designed for multiple million users and participated in international collaboration projects for technology innovation labs.
- Consultant Team
BHEX has a powerful and professional board of advisors:
Wu Qianhong, is our cryptographic security consultant. He is a Professor at Beijing University of Aeronautics and Astronautics. His research fields include public key cryptography, blockchain, and cryptocurrency.
Yang Fan,is our Financial System Consultant. He is a liquidation Specialist. He has participated in the development of the Electronic Interbank Clearing System (EFT) of the Central Bank of Guangzhou Branch of the People's Bank of China. His system still supports the national inter-bank and cross-border exchange clearing up to now.
Chen Chen, is our Trading System Consultant. He holds a Bachelor's degree in automation from Tsinghua University and a master's degree in financial system engineering from College of London. He is also a main contributor of Shanghai Securities and Options Exchange system.
Fang Xiaodun, is our Blockchain Security Consultant. He was the founder of Blockchain security company JohnWick Security, a former Baidu Security Chief Security Architect, a Baidu Security team founder, and former WooYun platform founder.
- Investment Institutions
In April 2018, the highly anticipated BHEX announced the completion of a 15 million USD angel round financing. In addition to the joint investment of the two top exchanges, Huobi Global and OKCoin, BHEX also received investments from Yintai Group, Node Capital, Plum Ventures, Imagination Fund, Coldlar Wallet Yuan Dawei, Genesis Capital Sun Zeyu, City Holdings and many other top institutional investors.
In July 2018, BHEX's first strategic Token Fund investment demand exceeded its circulation by 4 times. Huobi Capital, one of its angel investors, also increased its investment. Ultimately, BHEX prioritized investments from hundreds of institutional investors around the globe who can share common development and bring business value in the long-term. Coldlar, Dfund, BlockVC, GBIC, 8 Decimal Capital, LD Capital, Fundamental labs and other 56 well-known institutional investors participated in the round.
- Project Progress
In March 2018, Blue Helix team was formed and the project started.
In April 2018, angel round financing started.
In May 2018, BHEX completed the system architecture and product design.
In June 2018, BHEX completed the development of the core functions of the custody wallet.
In July 2018, BHEX completed the angel round financing and received $15 million for its excellent technology and team strength. The platform token BHT issuance is completed.
In August 2018, BHEX completed the token round financing.
In November 2018, BHEX Beta test version is launched.
In December 2018, BHEX trading platform is officially launched and BHT started trading. Open platform BHOP were officially launched and open for cooperation.
In March 2019, BHEX launched its first derivative product - Option.
In April 2019, BHEX will launch savings product.
In May 2019, BHEX will beta test futures product.
In June 2019, Bluehelix public chain test net will be launched, so is the futures product.
In December 2019, Bluehelix public chain will be officially launched.