1.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.
2.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] 1/12000 ETH (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
1. 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.
2. 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.
3. 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.
4. 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.
5. 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.
2.3BHT Innovative Aspect
1）BHDM
BHDM (BHEX DeFi Market) is the blockchain DeFi app development market initiated by BHEX. The BHDM infrastructure is composed of six modules, including blockchain assets custody, clearing, settlement, blockchain wallet, security, risk management. Programmers could well develop various kinds of decentralized financial applications through the SDK provided by BHDM, such as SaaS/Matrix Cloud Exchange System, payment, lending, stable coin/wallet, decentralized exchange, etc. BHDM is dedicated to providing the most secure and stable DeFi application development platform while impelling the benign development for the digital asset industry.
2）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.
3）BHT Use Case
On 21 July, after 5 days voting from BHEX communities (3pm, 17 July - 3pm, 21 July 2019). BHEX has received 100% passing rate about upgrade of BHT Buyback & Burn Mechanism. The upgraded BHT Token Mechanism will be executed on 22 July 00:00am (UTC+8). BHEX will airdrop all rewards by 25 July to BHT holders account.
4）BHT Token Mechanism
BHEX has achieved rapid development since the launch of Bluehelix Global Custody Chain, Blue Helix Exchange (BHEX.com), and the hybrid cloud exchange business (BHDM). Under the steady pace, BHEX has quickly grown in community building and the development of BHDM which highlight the value of our platform token – BHT. In order to make BHT better servicing and empowering Blue Helix ecosystem, according to voting result from community, BHEX has decided to upgrade the BHT token mechanism:
- BHEX business source of revenue:
Bluehelix decentralized custody and clearing chain
- BHEX exchange revenue
- BHDM hybrid cloud exchange system revenue
- Buyback & Burn mechanism of BHT:
BHEX will use 80% of its profit to buyback BHT from the market and burn it quarterly until it burns 50% of the 2.1 billion BHT issuance, or 1.05 billion BHT. BHEX will remain 1.05 billion BHT to support businesses within the ecosystem.
- BHT usage and value:
BHT will be used as trading fee deduction, payment for BHDM hybrid cloud exchange system service, partner node reserve fund, OTC partner safety deposit, Bluehelix blockchain node election, node staking, users reward and etc.
3.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.
4.Project Progress
2018
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.
2019
In March 2019, BHEX launched its first derivative product - Option.
In April 2019, BHEX will launch bonus 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.