global listing exchange - fx empire · the global listing exchange is the world’s only capital...

White Paper | September 2017

Global Listing Exchange

The Global Listing Exchange is the world’s only Capital Market Directory & Social Finance Network

Copyright© 2017

GLX.com | GLXCoin (GC) White Paper

TABLE OF CONTENTS

I - ABOUT GLX - GLOBAL LISTING EXCHANGE

Overview 1 The Problem 2 The Solution 3 Why Now? Why GLX? 3 Market Size 4 Competition 5 Product Highlights 5 The Team 6 Intellectual Property 7 Business Model 7 Revenue Model 7 Financial Plan and Discussion 8 Capital Structure 9 Reg A+ Offering 9 Valuation and Exit 9 II - A GLOBAL CAPITAL MARKET COMPUTER

Overview 11 Privacy / Transparency 11 The GLX DAppExchange 11 Technology Stack 12 III - THE GLXCOIN (GC)

The GLXCoin Overview 14 Creation / Issuance Structure 14 Initial Coin Offering (“ICO”) / Follow-on Coin Offering (“FCO”) 15 GLXCoin Distribution 15 Issuance Policy 16 Issuance Proposals 16 Voting Procedure 16 Initial Coin Offering (ICO) Terms 17 Greenshoe Option 17 Ethereum Addresses and Private Keys 18 Divisibility 18 Microtransactions 19 Proof of Concept 19 Timely Progress Reports for GLXCoin Holders 20 The GLX Economy 20 Fractals 20 The Glx Bug Bounty Program 20 Keywords 21 Sources 21 Disclaimer / Disclosure 21

ABSTRACT. This White Paper describes the GLX - Capital Market Network at GLX.com and the creation, issuance, and policies of the GLXCoin (GC). An Ethereum based digital token which functions as the exclusive payment protocol for the GLX ecosystem.

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I - OVERVIEW

GLX - Global Listing Exchange™ (“GLX”) is building the world’s only Capital Market Directory and Social Finance Network at GLX.com. The destination is a global capital market news data portal and ground-breaking financial networking platform.

GLX is revolutionizing the way each and every member of the world’s capital markets connects, communicates, shares, and accesses information.

Our Mission

Our mission is to make the world’s capital markets more transparent, open, and connected.

Our Company

GLX was founded in April of 2015 and is currently a privately held company. We are in the process of auditing our financial statements and, upon completion, expect to file a registration statement with the U.S. Securities and Exchange Commission (SEC) for a Tier II Reg A+ Crowdfunding offering in the fourth quarter of 2017. GLX will seek a public market listing shortly thereafter. We currently have the ticker symbol “GLX” reserved with NASDAQ. Alternatively GLX may create another Ethereum token, representing the equity ownership in GLX, and may work with the U.S. SEC to get approval to trade this security on one or many major cryptocurrency exchanges.

Identifiers

US EIN# 47-3781981 NV Business ID# NV20151228542 CIK# 0001649781 CUSIP# - 36252U 102 ISIN# - US36252U1025 FINS# - 353573 Global Market Entity Identifier (GMEI) / Legal Entity Identifier (LEI) - 549300MGOIYQ1OU4VN61

Our principal executive offices are located in Palm Beach, Florida. We have additional development offices in Medellin, Colombia and Freehold, New Jersey as well as remote employees and contractors in the U.S., Europe, and Asia. Our mailing address is 340 Royal Poinciana Way, Suite 317 - 335, Palm Beach, FL 33480. Our telephone number is +1 855 GLX INTL (+1 855 459 4685) or +1 561 325 7199. Our fax number is +1 212 658 9009. Our e-mail address is [email protected].

THE PROBLEM

Today a multitude of securities exchanges, trading venues, and their related communities, exist without any real social connectivity between them.

There is an ever increasing amount of information without any one single resource organizing, policing, and providing universal access to global data.

Service providers sell data that may be inconsistent with information offered from issuers and the exchanges. There is no universal validated notification process allowing users to collaboratively submit and review potential inaccuracies.

Investors hunger for new ideas in emerging markets but havedifficulty obtaining consistent information and access.

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THE SOLUTION

GLX is building the world’s only Capital Market Directory and Social Finance Network at GLX.com. The destination is a global capital market news data portal and ground-breaking financial networking platform.

Markets - GLX bridges fragmented markets

Communication - A social finance network

Data - GLX aggregates disparate data

Integrity - GLX allows users to control potential inaccuracies

Transparency - GLX delivers a self-policed user regulated platform

WHY NOW? WHY GLX?

Several key trends demonstrate the opportunity for the GLX.com platform:

• World markets are globalizing at an accelerating pace

• Internet access and bandwidth continue to increase globally

• Emerging market growth and cross-border investing is increasing

• Financial markets are continually innovating

• People and businesses all around the world have embraced social networking tools and social media to connect, communicate, and collaborate with one another

MARKET SIZE

Globally, Social Media revenue is forecast to surpass $40 Billion in 2017. In 2015 it reached $25.1 Billion, a 41% increase year over year. Currently there are over 2.67 Billion social media users globally, with an average daily usage of 118 minutes per day. The Global Stock Market cap is over $69 Trillion. Our Market Size is enormous as every member of the world’s investment communities has the ability to utilize our platform.

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COMPETITION

GLX is building a truly unique and one-of-a-kind platform. Some niche competitors include: Market Sites, Data Sites, News Sites, and Social Media Sites.

PRODUCT HIGHLIGHTS

The GLX Capital Market Directory and Social Finance Network.

• Geographical Locations - Continents, Countries, Territories, State / Provinces, Cities, Venues, etc.• Governmental Authorities - International Bodies and Organizations, National Governments, State and Provincial

Governments, Local Governments, etc.• Federations, Associations, and Regulatory Bodies• Securities Exchanges and Alternative Trading Venues• All Listed Securities and Issuances• Market Intermediaries and Market Professionals• Capital Market Events• Self-Directed Retail Investors

Unlike other social networks, users will be invited to take control andenhance their profiles. Unlisted users can create new profiles.

THE TEAM

GLX currently has over 25 employees and contractors with the majority focused on web and technology development. The balance are in the departments of administration, data development, legal, marketing, sales and support.

Management - GLX is assembling an incredible team with diverse backgrounds in investment banking, technology, blockchain, media, and publishing.

• Ronald P. Russo, Jr., Founder & CEO• Marc Baskin, Controller• David Munoz, Sr Software Engineer• Camilo Vasquez, Sr Software Engineer• Lisbey Collazo Alfonso, Database Administrator

Advisory Board - Management of GLX will draw on many long lasting personal relationships within the finance industry to create a group of very active and passionate Advisors.

• Vishal Singh, Chief Platform Advisor• Michael J. Piatt, Advisory Board Member• Larry Johnston, Advisory Board Member• David L. Ronn, Advisory Board Member

Blockchain Advisors - GLX is hiring additional blockchain advisors and developers.

• Neeraj S. Srivastava, Chief BlockChain Architect, DLT Labs• Elliot D. Hedman, Chief Operating Officer, Bitland Global

Board of Directors - GLX is in the process of sourcing independent world class board members with public market experience.

Industry Alliances / Service Providers - GLX continually strives to create relationships that can benefit the GLX business model and the GLX shareholders.

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INTELLECTUAL PROPERTY

In addition to our data and software we have continually invested in the GLX brand. We have initiated our plan to have hundreds of multi-lingual sites to introduce GLX in different parts of the world which will drive traffic to GLX.com. We have created our first test site at GLX.co which is now live.

For our name “GLX - Global Listing Exchange” and logo we have a U.S. trademark in 5 classes of financial media / financial services and have filed a international trademark in the European Union which covers 28 countries.

GLX has pending U.S. trademarks on the use of the GLX currency sign and a patent pending on the methods of assigning a unique digital signature, such as a fractal image, to each monetary unit.

In addition to GLX.com GLX owns in excess of 150 GLX related top level domains (TLDs) to protect our brand.

BUSINESS MODEL

The GLX business model resembles that of a securities exchange combined with that of a high-traffic social networking destination site.

However, because GLX aggregates data from all exchanges, the information is gathered, indexed, and presented in a standardized manner that allows participants to easily look across and into global markets.

GLX will monetize the platform from several large categories of revenues:

• Subscription fees and access to higher level market data are the foundation of the model

• The community and network overall will produce revenue from targeted marketing and advertising services

• Contributed data that is aggregated over time becomes a valuable asset

• Corporate services are offered to listed companies

REVENUE MODEL

Listings / Subscriptions. Basic listings in the GLX Capital Market Network are free. For a listing fee (or subscription), GLX offers members premium listing features that allow greater customization of their profiles and access to the GLX - Content Control System (CCS). The GLX-CCS is a content management, social dissemination, and analytics utility. Exchanges, listed issuers, major corporate brands, and industry professionals will pay a premium to upgrade their listings to receive greater control, richer content, and more flexibility when connecting and managing their audience.

Content / Data Publishing and Syndication. As GLX creates and aggregates exclusive, proprietary, and user generated content and financial data, it will publish and syndicate this data to financial market firms, industry professionals, and others.

Premium Content Subscriptions. Although the majority of content will be free, some level of ultra-premium content will be made available by subscription.

Advertising. Similar to Facebook, the GLX platform will give advertisers detailed access to our audience including decision makers and influencers. Advertisers in the financial industry will pay nominal to premium advertising rates based upon the core demographic we serve. GLX will provide pay-per-click and CPM-based advertising programs, a cost-per-acquisition based affiliate network, paid for search, etc.

Social Media Marketing. The GLX platform will provide many opportunities for highly relevant and targeted link placements, interactive sponsorships, and promotions.

Live and Online Education and Events. As GLX builds its brand and gains traction in the marketplace as a trusted and authoritative brand, we will be generating educational content and sponsoring and hosting a range of events targeted toward the global investment community. These will range from online seminars to large-scale live financial industry summits.

Ancillary Corporate Services. With a rich community of exchanges, listed companies, market intermediaries, and investors, GLX will have many other revenue opportunities as the business matures.

FINANCIAL PLAN AND DISCUSSION

Revenues are derived from premium listing / subscription fees, advertising, financial market data syndication, etc.

YEAR 1 YEAR 2 YEAR 3Revenue Guidance $5.61 M $36.10 M $94.42 MGross Profit $1.45 M $12.90 M $43.06 MExpenses $3.92 M $9.98 M $12.88 MIncome from Operations -$2.46 M $2.92 M $30.18 MBonus Pool - $292 K $3.00 MProvision for Income Taxes - $1.05 M $10.86 MNet Profit -$2.46 M $1.87 M $19.32 M

GLX’s moderate scenario revenue projections are based on the following key assumptions:

• Premium Listing Fees will begin to scale as more and more corporate brands upgrade their GLX profile.• Financial market data will become more robust as more underexposed stock exchanges customize their profiles and interlink data.• Revenues from Advertising in the capital markets industries will demand a higher CPM rate than traditional media due to a more affluent demographic.


CAPITAL STRUCTURE

GLX, Inc. is a Nevada C corporation, formed on April 13, 2015, with 20 million shares initially issued.

GLX IP, LLC (“GLX IP”) is a Florida limited liability company, formed on April 13, 2015. GLX IP is an intellectual property holding company.

On April 15, 2015 GLX entered into a license agreement with GLX IP for exclusive licensing rights for the use of the name “GLX“ as well as all GLX related intellectual property. GLX issued GLX IP 7.5 million common shares pursuant to the licensing agreement.

In July of 2015 GLX’s Board of Directors initially placed an estimate of $0.39 per-share on GLX’s outstanding common stock, at inception, establishing a pre-money valuation of $7.8 million.

REG A+ OFFERING

Title IV of the JOBS Act – Regulation A+

Tier II Reg A+ Offering:

• High maximum raise: Issuers can raise up to $50,000,000 in a 12-month period

• Anyone can invest: Not limited to just “accredited investors”

• You can advertise your offering: There are no general solicitation restrictions

• State Pre-Emption: New Reg A+ Tier 2 preempts state law

• Unrestricted Securities: The securities issued in Reg A+ will be unrestricted and freely transferable

• Integration: There are several safe harbors so it seems that you can use Reg A+ in combination with other offerings

We are in the process of auditing our financial statements and, upon completion, expect to file a registration statement with the U.S. Securities and Exchange Commission (SEC) for a Tier II Reg A+ Crowdfunding offering in the fourth quarter of 2017. GLX will seek a public market listing shortly thereafter. We currently have the ticker symbol “GLX” reserved with NASDAQ. Alternatively GLX may create another Ethereum token, representing the equity ownership in GLX, and may work with the U.S. SEC to get approval to trade this security on one or many major cryptocurrency exchanges.

VALUATION AND EXIT

Fast growing technology companies can rarely be modelled by discounting their future cash flow back to the present. A better way of valuing fast growing companies is to look at comparables. An analysis of social network acquisitions would indicate that acquirers are often paying in excess of $50 per active member.

GLX expects to launch with a database of roughly 300+ million potential members in our directories. With a 5% conversion, through our marketing efforts, that would value GLX at $750+ million (15,000,000 x $50.00).

Our goal is to make the world’s capital marketsmore transparent, open and connected.

White Paper

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II - A GLOBAL CAPITAL MARKET COMPUTER

Most social and financial networks are owned and run by big corporations from centralized servers. They store the private data of their users which can be monitored, lost, or hacked. Heavy traffic can create a bottleneck on the central servers which can slow or halt the entire system. This central command can result in the loss of freedom, performance, and top-down control.

In some cases centralization can be useful, even mandatory, but it’s human nature to want to circumvent central control. Our plan is to embrace human nature and reap the best of two seemingly contradictory networks pairing the benefits of a centrally managed platform around the freedom and flexibility of adding distributed nodes. These nodes exist on independently run servers, all over the world, giving users the opportunity to partition off data, traffic, and access, entirely within their own domain. Users can launch their own node independently or register with an existing node and seamlessly connect with the GLX ecosystem worldwide.

The GLX - Global Capital Market Computer is an Ethereum blockchain based distributed network. The backbone of the network is GLX’s Capital Market Directory structure which is the interactive interlinked records of every tenant in the network.

This consists of every:

• Geographical Locations - Continents, Countries, Territories, State / Provinces, Cities, Venues, etc.• Governmental Authorities - International Bodies and Organizations, National Governments, State and• Provincial Governments, Local Governments, etc.• Federations, Associations, and Regulatory Bodies• Securities Exchanges and Alternative Trading Venues• All Listed Securities and Issuances• Market Intermediaries and Market Professionals• Capital Market Events• Self-Directed Retail Investors

Privacy / Transparency

In the financial world you have compliant communication systems, like Bloomberg chat within the Bloomberg Terminal, where all conversations can be monitored, archived, and audited to meet compliance requirements. This is necessary for investment bankers, traders, and employees of regulated firms. Yet those same individuals, and just about everyone in the financial service industry, are secretly utilizing encrypted messaging apps like WhatsApp and Signal as an easy, and virtually untraceable, way to circumvent compliance, get around the HR police and keep their bosses in the dark.

GLX is creating a platform where you own your data. You can choose when, where, and how to share your content and communications keeping them totally private (peer-to-peer), shared with groups, publicly, or for a full transparent and traceable record published and recorded on the blockchain.

The GLX DAppExchange

A DApp is a “Decentralized Application” that does not require a central authority or server to function or to manage a user’s information. A DApp has its backend code running on a decentralized peer-to-peer network. A DApp can have frontend code and user interfaces written in any language (just like an app) that can make calls to its backend. Furthermore, its frontend can be hosted on decentralized storage such as Swarm or IPFS.

The GLX DAppExchange (DappExchange.com) is GLX’s “decentralized appstore” where anyone can publish DApps that can be used in the GLX ecosystem. The DAppExchange will become the world’s leading financial app marketplace. This gives users the liberty and freedom to use the GLX platform any way they want. The only limit is imagination.

TECHNOLOGY STACK


GLX is revolutionizing the way each and every member of the world’s capital markets gets

information, connects, communicates and shares.



III - THE GLXCOIN OVERVIEW

The GLXCoin (herein “GC” or “GCs”) is a crypto currency based on the Ethereum blockchain. Ethereum is an open-source, public, blockchain-based distributed computing platform featuring smart contract (scripting) functionality. It provides a decentralized Turing-complete virtual machine, the Ethereum Virtual Machine (EVM), which can execute scripts using an international network of public nodes. Ethereum also provides a value token called Ether (ETH), which can be transferred between participants and is used to compensate participant nodes for computations performed. Gas, an internal transaction pricing mechanism, is used to prevent spam on the network and allocate resources proportionally to the incentive offered by the request.

The GC is a medium of exchange similar to the U.S. dollar. Also like the U.S. dollar, the GC has no intrinsic value in that it is not redeemable for another commodity, such as gold. Class A and B GCs (as defined below) can be used to pay for goods and services on the GLX platform. Class A GCs will be offered in our Initial Coin Offering (“ICO”), will be exchange tradable and can be traded amongst members of the GLX network. Class B GCs can be earned for loyalty and incentives by signing up at GLX.com.

CREATION / ISSUANCE STRUCTURE

GLX will create and hold in reserve 20 million GCs for future issuances. GLX will create two different classes of GCs. Each will have their own smart contracts for the following purposes and with the following characteristics:

1. 10 million Class A GCs:

• Are fully ERC20 compliant.• Will be issued and sold in our Initial Coin Offering (“ICO”).• Supply is not fixed.• New Class A GCs can also be issued in form of a Follow-on Coin Offering (“FCO”). For this to happen

a motion is required to be raised by GLX. This motion needs to be approved by Class A GC holders (as defined below) by a vote.

• An FCO would be dilutive in nature and will increase the number of Class A GCs in supply.• Class A GCs can be used to pay for goods and services in the GLX network and may be transferred

between GLX members immediately after the ICO duration.• Will be exchange tradeable immediately after the ICO duration.

2. 10 million Class B GCs:

• Are not fully ERC20 compliant.• Will be issued as loyalty and incentive rewards which can be earned by members of the GLX network. The

majority of Class B GCs will be reserved and issued to underwrite our viral sign-up strategy (as defined below).

• Supply is not fixed but can only be increased by a majority vote of the Class A GC holders.• Will have a 1-year restricted holding period from the date of issuance. During this time Class B GCs can

be used to pay for goods and services in the GLX network and may NOT be transferred between GLX members.

• After the 1-year restricted holding period they will automatically convert to Class A GCs at which point in time they will be exchange tradeable and transferable.

As of the date of this White Paper 2,128,787.16666666670 have been manually issued to 33 members of management, advisors, and shareholders of GLX. This represents 21.29% of all Class B GCs and 10.65% of the total Class A and Class B GCs.

Additionally, 1,500 have been automatically issued to 150 new members that have signed up on the GLX.com platform as part of our viral sign-up strategy. This represents 0.02% of all Class B GCs and 0.01% of the total Class A and Class B GCs.

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GLX.com | GLXCoin (GC)

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White Paper

ISSUANCE POLICY

An issuance policy will be implemented to determine the size and rate of growth of GCs in supply. This will help ensure price stability and general trust in the currency.

New issuances will be recommended by GLX but must be approved by a majority vote of the holders of Class A GCs. Each Class A GC shall receive one vote. GCs held in reserve by GLX will not contain the right to vote. All votes shall occur on a transparent blockchain based ballot system within the GLX network with advance notice and explanation of ballot issues. The votes being made by holders of Class A GCs will eliminate the potential manipulation of said issuances and policies by a central authority.

ISSUANCE PROPOSALS

GLX can suggest new GC issuance proposals. GC issuance proposals will contain the following:

• Type of recommended issuance and purpose.• Proposed GC increase amount.• Proposed GC increase date.• Proposed GC price.

VOTING PROCEDURE

If a motion is made by GLX regarding a new issuance of the GC the first step will be to notify all Class A GC holders of the proposal and potential terms. Within 24-hours of the initial notification the ability to cast votes will begin. Results will be pub-licly visible on a blockchain based ballot system. Voting will remain open for a 2-week period following the initial notification. Class A GC holders will continue to be notified during the voting period.

Any Class A GC holder by Ethereum address can vote “Yes” or “No” to the proposed new issuance. Each address has one vote. GLX will use a count vote function which will total up the “Yes” or “No” votes in proportion to the amount of Class A GCs each voting address holds.

Either a majority of votes, relative to the total number of Class A GCs outstanding at the time of said vote, or a majority of

In total 2,130,287.16666666670 Class B GCs have been issued. This represents 21.3% of all Class B GCs and 10.65% of the total Class A and Class B GCs. These issuances occured between June 1, 2017 and August 24, 2017.

INITIAL COIN OFFERING (“ICO”) / FOLLOW-ON COIN OFFERING (“FCO”)

An ERC20 smart contract will be responsible for the creation of new Class A GCs during the ICO and any FCO’s. The ICO price of $1.00 USD per Class A GC will be converted and fixed to the price of Ether during the 24-hour period before the contract starts the offering.

All members who purchase Class A GCs during the ICO will already have an Ethereum address. This is necessary to own and hold Ether. The contract will hold Ether during the ICO period and only the GLX platform may withdraw the Ether from the contract.

GLXCOIN DISTRIBUTION

Traditionally high-growth companies have issued equity to their founders, equity and debt securities to attract investors and acquisition candidates, and equity to key personnel, consultants, and strategic partners. Although the GC is not an equity or debt security it can be an added incentive to the above participants. The expansion of the GLX.com platform is a very large and ambitious global project requiring the efforts of many different people to make it a success. To help reward these participants we are setting aside up to 5 million (25%) Class B GCs to reward current and future team members, consultants, strategic partners, advisers, and experts. It is important to point out the severe beliefs and dedication of the GLX team which has agreed to accept Class B GCs as incentive which, by default, contain a 1-year restriction from issuance before being converted to exchange tradeable Class A GCs. The remaining 5 million (25%) Class B GCs will be issued to new members as part of our viral sign-up strategy. Said issuances will always be shared publicly and auditable. All 10 million Class A GCs (50%), and the Greenshoe Option (as defined below) Class A GCs, will be available to be sold in our ICO beginning on Monday, October 3, 2017 at 9 AM EST.

We believe that the above breakdown is the perfect balance to enhance the success not only of the launch of the GLX eco-system but our overall long term objectives.

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ETHEREUM ADDRESSES AND PRIVATE KEYS

When new user signs up on the GLX platform they will automatically receive a sign up bonus of 10 Class B GCs. The user may either provide their existing Ethereum address, to associate with their GLX account, or they can create a new Ethereum address and private key within their GLX Wallet in the GLX Vault.

DIVISIBILITY

The GC is highly divisible. Similar to the inherent traits of Ether the GC can be divided down to 18 decimal places (0.000000000000000001). This unit of measure is known as a “Galt”. A Galt is one quintillionth of a GC or a billionth of a billionth of a GC. The GC consists of the following units:

UNIT ABBREVIATION DECIMAL VALUEMega GLXCoin MGC 1,000,000.00 1,000,000Kilo GLXCoin kGC 1,000.00 1,000Hecto GLXCoin hGC 100.00 100Deca GLXCoin daGC 10.00 10GLXCoin GC 1.00 1Deci GLXCoin dGC 0.10 1/10Centi GLXCoin cGC 0.01 1/100Mili GLXCoin mGC 0.001 1/1,000Micro GLXCoin µGC 0.000001 1/1,000,000Bill bGC 0.000000001 1/1,000,000,000Tril tGC 0.000000000001 1/1,000,000,000,000Quad qGC 0.000000000000001 1/1,000,000,000,000,000Galt GGC 0.000000000000000001 1/1,000,000,000,000,000,000

votes, relative to the total number of Class A votes submitted at the end of the voting period, must be reached, in either direction, to carry out or decline and cancel a proposal.

E.g., IF 10 million Class A GCs are outstanding at the time that a proposal is made:

• and 5,000,001 “Yes” votes are reached, at any point during the 2-week voting period, THEN the proposal will be approved and the new GCs will be created and issued in a FCO; or

• and at the end of the voting period only 6 million total votes are cast and 3,000,001 “Yes” votes are received, THEN the proposal will be approved and the new GCs will be created and issued in a FCO.

IF in the event that, at the end of the voting period, no votes whatsoever are cast, THEN the proposal will be approved and the new GCs will be created and issued in a FCO.

INITIAL COIN OFFERING (ICO) TERMS

Offering Period: October 3, 2017 through November 2, 2017

Total Number of GCs to be Sold: 10,000,000 Class A GCs

Type of GCs: ERC20 Tokens registered on the Ethereum Blockchain

Issue Price per GC: $1.00 USD, this price will be fixed to Ether (ETH) and will be set at the start of the Offering Period

Date of Settlement: Immediate

Amount of Capital to be Raised: Approximately $10,000,000 USD

Types of Contributions: Ether

GLX is in negotiations to create a listing for the GCs with many major cryptocurrency exchanges and trading venues.

GREENSHOE OPTION

GLX is implementing a systematic Greenshoe Option which will allow the contract to automatically issue more GCs than planned in the event that the demand for our ICO proves higher than expected. The additional issuances will occur according to the triggers below:

1. Greenshoe 1 - In the event that the ICO is fully subscribed, at any time, within the first 7-days from the start date of the ICO, then 10 million additional Class A GCs will be immediately created and offered. 10 million Class B GCs will also be created and reserved.

2. Greenshoe 2 - In the event that Greenshoe 1 is fully subscribed, at any time, within the first 14-days from the start date of the ICO, then 10 million additional Class A GCs will be immediately created and offered. 10 million Class B GCs will also be created and reserved.





MICROTRANSACTIONS

Microtransactions allow members to easily purchase virtual goods and services via micropayments. Microtransactions are a staple of the mobile and online application markets but are also available across other traditional platforms.

The high cost and inflexibility of traditional bank and payment network solutions make them impossible to implement for micropayments. Examples of necessary Microtransactions and micropayments in the GLX network include;

(i) paying $0.03 to access and read a particular blog post;

(ii) paying $0.05 per-day to get real-time Level I, II or III access to one particular security; and / or

(iii) paying $5.00 per-month for a premium GLX membership.

• Please note that the above scenarios are merely an example for illustration purposes.• Besides the $1.00 USD per-month basic membership subscription GLX has not yet priced any of our potential premium products and

services.

In the future GLX will create premium subscriptions, advertising, real-time market data, research, and other potential premium products and services. GCs will be the form of payment for these goods and services.

PROOF OF CONCEPT

Beta membership to the GLX network will be $1.00 USD per-month. This will be payable through the new member’s account by auto transfer of GCs, or a fraction thereof.

During our Beta launch GLX will be running a viral promotion to sign-up new members almost identical to PayPal’s launch strategy.

• Upon sign-up the new member’s account will be credited 10.00 GCs.

• The new member will be prompted and incentivized to invite their contacts to join GLX. GLX will credit new members 10.00 additional GCs for each of their contacts that signs-up.

• When those invited contacts sign-up they will also each be credited with 10.00 GCs, just for signing-up. They will then be prompted and incentivized to invite their contacts to join GLX and will receive an additional 10.00 GCs for each of their contacts that signs-up.

New members being automatically rewarded 10 GCs at sign-up essentially earns them a 10-month free trial period, depending on the trading market quote and conversion of GCs to USD’s after our ICO.

TIMELY PROGRESS REPORTS FOR GLXCOIN HOLDERS

With over 170 equity shareholders and 25 team members GLX has an established practice of constantly updating stakeholders with multiple weekly emails. We have also made our daily Release Notes (glx.com/release-notes) publicly available on our platform and have our Feature and Functionality Roadmap outlined there. We have created a Future Features & Functionality Poll so that members can vote to submit their ideas on what they would like to see developed next.

As an audited issuer, with intentions of being publicly traded within the next 12-months, GLX believes in total transparency and welcomes feedback from friends, family and passionate stakeholders and members of the GLX network. All GC holders are invited to create accounts and utilize GLX’s platform as well as have direct communication with management as to GLX’s past accomplishments and future direction.

THE GLX ECONOMY

New members will receive 10 Class B GCs on sign up. Purchasers will buy Class A GCs in the ICO. GLX will only accept GCs as payment for goods and services on the GLX platform. After the ICO GLX will have members with GCs and the GLX platform will have Ether to invest in platform development.

Since the supply of GCs will mostly be fixed (except for when the owners of Class A GCs vote to create more supply), members who do not own GCs will have to purchase these on the open exchanges, from existing Class A GC holders, or from other members thus creating demand and pushing the price up.

The GLX platform will charge GCs for payment, and will then also be able to hold the collected Class A GCs or sell them back to the market on the exchanges. This is how GLX can make a profit and why the value of GCs is likely to rise, thus prompting people to want to purchase GCs early.

FRACTALS

By definition from the Fractal Foundation - A fractal is a never-ending pattern. Fractals are infinitely complex patterns that are self-similar across different scales. They are created by repeating a simple process over and over in an ongoing feedback loop. Driven by recursion, fractals are images of dynamic systems – the pictures of Chaos. Geometrically, they exist in between our familiar dimensions. Fractal patterns are extremely familiar, since nature is full of fractals. For instance: trees, rivers, coastlines, mountains, clouds, seashells, hurricanes, etc. Abstract fractals - such as the Mandelbrot Set - can be generated by a computer calculating a simple equation over and over.

They are essentially a continuous loop of a mathematical formula that builds upon itself to create images. They were discovered in the 1970’s. Much of nature works in the same way so many of the images created through fractals often look organic, but not always, it depends upon the math involved.

GLX will use a fractal generating program that runs multiple algorithms to display a visual output. This will give each original purchaser of

Class A GCs the option to forever uniquely mark the Xs they purchase. This will set the GC apart from all other digital currencies by minting unique art for each and every GC.

GLX has pending patent application on the method of assigning a unique digital signature, such as a fractal image, to each monetary unit.

THE GLX BUG BOUNTY PROGRAM

On July 25, 2017 GLX announced that we have publicly published the code for the GC on GitHub at: github.com/GLXI/gc for peer review and audit.

Bounty Hunters are welcome to come and hack the code to identify bugs and vulnerabilities for rewards between $500 and $5,000. We are starting our bug bounty program for all contracts and software relevant for our upcoming ICO.

The GLX Bug Bounty White Paper can be viewed at:

• https://docs.google.com/document/d/1wrjyAswdROXBF-PAXda20jjnsC9Ga9vqRmSfMA-XWss/edit#



KEYWORDS

AML / CFT, Anti-Money Laundering, Combating the Financing of Terrorism, Bank, Banks, Barter, Bitcoin, Blockchain, Central Bank, Central Banks, Consumer Protection, Credit, Cryptocurrencies, Cryptocurrency, Distributed Ledger, Ether, Ethereum, Exchange Controls, Federal Reserve, Financial Efficiencies, Financial Efficiency, Financial Inclusion, Financial Innovation, Financial Innovations, Financial Regulation, Financial Stability, Financial Technologies, Financial Technology, FinCEN, Fintech, Fractal, Fractals, KYC/AML, Know Your Customer, Anti-Money Laundering, Micropayment, Micropayments, Microtransaction, Microtransactions, Monetary Policy, Money, Payment Technologies, Payment Technology, Satoshi Nakamoto, Tax Evasion, Virtual Currencies, Virtual Currency.

SOURCES

Online research was done on Google using various sources including but not limited to the URL’s provided herein, bitcoin.org/bitcoin.pdf, bnktothefuture.com, cia.gov, coindesk.com, coinmarketcap.com, fractalfoundation.org, imf.org/external/pubs/ft/sdn/2016/sdn1603.pdf, internetworldstats.com, investopedia.com, pbs.org, reference.com, statista.com, thinkingeconomics.net, census.gov, worldbank.org, wikipedia.com

DISCLAIMER / DISCLOSURE

©2017 GLX, Inc. All rights reserved. The information in this document is the property of GLX, Inc. Reproduction or transcription by any means, in whole or in part, without the prior written consent of GLX, Inc., is prohibited.

For more information please email [email protected].

Google - Organizes the world’s information

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White Paper

September 2017

©2017 GLX, Inc. All rights reserved. The information in this document is the property of GLX, Inc. Reproduction or transcription by any means, in whole or in part, without the prior written consent of GLX, Inc., is prohibited.

For more information please email [email protected].

GLX, Inc. | GLX.com | GLXCoin (GC)

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+1 855 GLX INTL | +1 855 459 4685 | +1 212 658 9009 fax | [email protected]

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