BITGEAR

Bitgear Ecosystem

Gear Engine

Gear Portal

Gear Market

Gear Defi

www.bitgear.io Whitepaper Augustus 2020

 Contents

1 Intro

2 Bitgear Ecosystem

2.1 Gear Engine

2.2 Gear Market

2.3 Gear Portal

2.4 Gear Defi

3 Why create a token?

4 Token economics and utility

4.1 Fee reduction

4.2 Bonus/Staking

4.3 Burning

5 ICO Economy

5.1 ICO details

5.2 Use of funding

6 Roadmap

7 Vision and development

8 Important and legal

9 Data

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Bitgear.io provides professional and simplified tools for

trading, defi and digital assets, which are wrapped in an

easy to use ecosystem.

We enable you to invest using a simple automated arbitration

engine that will create optimal trading opportunities while

passively investing and use different decentralized financial

products.

Trading manually should be easy. Our simple to use 1-click-

exchange can buy/sell cryptocurrencies at the best prices

possible. Do you want to use professional tools while

trading? Bitgear has a professional exchange with logics

and algorithmic equations at your disposal.

Every part of Bitgear will be connected via a multi-purpose

wallet that enables trading on an array of exchanges

without having to register to any of them. Users do not

need a technical background or know the ins and outs of

arbitrational trading. Traders are also protected by Bitgears'

very own privacy layer “Cloak”. We are aiming to become

the largest, most inclusive, digital asset ecosystem for

everyday users and professionals alike.

Welcome to Bitgear.io

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Bitgear Ecosystem Bitgear - Gear Engine

We are building the “Bitgear Ecosystem” to offer a one-stop- One of the focal points and main components of the

shop for everything cryptocurrency and trading. You will be ecosystem is “Gear Engine”. Here the everyday user can

able to trade coins directly to other coins of your choice invest their funds and partake in our arbitrational trading

with one click of a button locking in the best price, derived engine, thus creating passive income for all users with just

from over twenty different exchanges. Start arbitrage a few clicks.

trading with almost no effort at all and in just a few simple

clicks your personal Gear Engine is ready to go. Backed by an array of arbitration trading algorithms, the

GearEngine will do all the work for our users. You will not

The Bitgear Ecosystem is derived using four components, have to choose a method or style of trading, instead, our

two of which will be ready for our initial launch. These algorithm will take over and choose what it deems the most

components are the “Gear Market” and “Gear Engine”. Both profitable strategy. Sometimes it will use all the methods

components are currently in an early alpha state and are available, or sometimes just a few. The most important part

being used and tested to ensure we are ready to go the is that the users will not have to manage the complicated

instant we fire up the servers and unlock the GEAR token. part of setting up an arbitration bot, choosing the exchange

or even direct what it should do. We also only use methods

The ecosystem will be expanded as funding and the that have a high chance of success, thus reducing both

expansion of the Bitgear team goes forward but we are very the chance of risk or failure. If the engine does however

proud to already have two great and very efficient tools for fail on a single arbitration or trading algorithm, Bitgear.io

everyday use practically ready to go. will bankroll the loss or arbitrage out of our own volume to

make good on the trade, thus turning a failed attempt into

By using Bitgear.io there will be no need to register or go a successful one, using one of our many options to market

through the hassle of using other exchanges for buying/ make or internal arbitrage.

selling most tokens and coins.

We aim to create a welcoming and inclusive ecosystem

that will resonate with all users because of its simplicity

and feature-rich capabilities that are not currently offered

by other digital asset trading platforms.

Bitgear is built with the DeFi ecosystem and its users in

mind. We love the DeFi approach and are creating Gear

Funds to take DeFi to the next level.

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Our users will not see any of this internal trading, and will We have a lot of algorithms and market-making tools that

never see a red number on their personal Gear Engine underpin the Gear Engine and working their magic in the

screen. They will see trade volume, profitability, as well as background. Our more complicated and advanced options,

what the current Bitrate / win-rate median is at. of which there are eight at this time, give us an edge over

the competition.

We have so many fail-safes set up that a chance of a loss

on a trade is near 0%. Gear Engine allows the user to take The Gear Engine is in early alpha, with several months of

advantage of every trade regardless of the circumstance. both data gathering and testing currently being done.

Here is a quick overview of some of our current market-

making tools, logic, and algorithms. For data on our

percentage earnings and success rates etc. be sure to

check out the data part of the whitepaper.

• Volume-weighted average price (VWAP)

Volume-weighted average price (VWAP) – volume changes

throughout the day/week almost with peaks and valleys at

predictable ranges each time. VWAP: To execute a large

order, the algorithm we deploy depends on the time of day

(minimize the impact on moving market).

• Percentage of Volume (PoV)

Percentage of Volume (PoV) – addresses the problem

of VWAP by using the live trading volume of the day as

a benchmark. The idea is to have a constant percentage

participation in the market to maximize order fill efficiency.

If the quantity remains to be traded is Q, participation ratio

is Y, the algorithm computes the volume V traded in the

period (t-/_\T, t) and executes a quantity q=min(Q,V*Y)

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Bitgear - Gear Market Bitgear - Gear Portal

The Gear Market is a 1-click-exchange that enables our For our more advanced traders that want full control of their

users to buy or sell the most popular coins with the click of trading pairs and want the possibility of the different types

a button, all while getting the best market price. of buying/selling mechanisms, Gear Portal is the perfect

This is done by scanning prices of the chosen currency tool. A professional traders playground with an array of

on up to twenty different exchanges and buying/selling tools at your disposal.

via the cheapest market prices available until the order is

filled. This creates a cheaper average price than you could The Gear Portal is not only a multi-purpose wallet. It enables

achieve without our system. our users to trade on any exchange without going through

the hassle of registration, and is packed with a wide array

To ensure liquidity at all times we may also use our own of automatic trading logic and algorithms. Instead of

liquidity and arbitraging engine to take a favorable trade for switching exchanges the user simply uses the Gear Portal,

our user if it makes the trade cheaper than what the user this will give them access to all the top exchanges and

could have done on their own. A single buy/sell order will trading pairs, and all the common trading mechanisms

trigger a series of events in the background which leads to needed to trade at an advanced level. Here you will have

our user getting the cheapest price the market has to offer charts and the needed tools for technical analyses all

at that exact moment. embedded within our ecosystem.

We put out multiple orders on multiple exchanges almost The logic system and trading algorithms are very advanced

instantaneously as our own liquidity is used as a buffer to and easy to use and can be managed without the need

enable instant 1-click exchanging of assets to our users. of a technical background. Easy to use, professional, and

The Gear Market is in early alpha and the private demo is highly effective is what we are going for. In our Gear Portal

ready the moment the whitepaper is released. ecosystem you are able to set everything from cost average

buying, automatic accumulation, price triggered buying/

selling, to more complicated logic like percentile activated

partial buying/selling or price tracing percentile buying/

selling.

Algorithm and logic creation will be subject to a community

bounty program where we will honor the best and brightest

ideas with certain bounties depending on popularity. This

will be an ongoing effort over the whole lifespan of the

company to insure involvement of the community for future

development.

All of this is achieved without ever leaving the comfort and

safety of the Bitgear Ecosystem. We will in turn ensure

highest security standards and take on the complete risk of

fund loss away from our users.

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Bitgear - Gear DeFi

Due to current demand from our customers, we are also We envision this as an easy way for all of our users to be able

creating Gear DeFi. Anyone that would like to have some to get exposure to a diversified portfolio of various funds,

part of their assets invested in this new and exciting asset and hedging mechanisms all within a legally regulated

class for the longer term will be able to use Gear DeFi and environment where your equity is secured at all times.

its wide range of available products. Bitgear.io is currently looking into the possibilities of

acquiring a full fledged banking license within the EU.

Gear DeFi will be a feature-filled ecosystem with special

tools ranging from classic funds to full DeFi aggregators GEAR Economy

enabling yield farming to the average user. Total Supply: 91,000,000 GEAR

Initial Circulating Supply: 69,975,000 GEAR

This will include a DeFi lending and staking platform as well Presale Rounds: 49,500,000 GEAR 1

as the Bitgear.io private Defi network. Our multi-purpose Marketing: 16,500,000 GEAR 2

wallet will revolutionize passive investing and adoption of Team: 19,000,000 GEAR 3

DeFi products from different providers without the risk of Liquidity: 6,000,000 GEAR

revealing your identity or having to go through the hassle

of lengthy KYC procedures. Our DeFi aggregator will allow

very simple to use, 1-click yield farming options, and a wide

variety of decentralized finance tools for both the technical

trader and everyday investor.

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 Use of funding

The total supply of GEAR is 91,000,000, which will The funds will be used to ensure further development of the

be represented as an ERC20 token on the Ethereum platform and website as well as guarantee our project team

blockchain. If we move to create our own chain we will can stay 100% focused on continuing to develop the tools

enable a swapping mechanism at that time. within the Bitgear ecosystem.

Some of the tokens will be subject to a regulated lock-up Up until now this was accomplished by using our own

and will vary depending on contractual agreements. GEAR funds and bootstrapping the project without any outside

tokens are subject to B2B practices and will only be given source of funding or investment. New partnerships and the

to seed investors and strategic partners. hiring of new members of our team will ensure a steady

10% of the tokens, namely the development token and continuous rise in quality and the development to a full

allocation, will be subject to a timed lockup. The liquidity decentralization of our platform.

tokens represent 5% of the total circulating supply and will

be used to provide liquidity. 65% of all tokens will be sold The formation of a large support team will be one of our

to supporters of the project that believe in the long term main goals coming out of the funding. This is to ensure

growth. maximum customer satisfaction and minimal reaction

time to any support questions our community might have.

We will be able to re-acquire tokens in the form of a buy-

back for a token burn in any way we deem necessary. This A part of the funding will be used to hire marketing

includes acting as a normal buying entity on the secondary managers and launch a marketing campaign which will aim

market or our own exchange. to spread our new exciting website and its unique approach

and possibilities to the masses. Our goal is to appeal to the

casual user and score in the area of simplicity.

Lastly, we will be using the largest portion of our liquidity on

our trading engine as this will require the largest investment

in both time and resources. Finishing the Gear Engine will

greatly improve our ability to capitalize on arbitration and

market making opportunities.

PAGE 8
Bitgear - Roadmap

PAGE 9
Where are we currently and what have we already achieved? Why create a token at all?

Our arbitrage engine is up and running, and we are already One of the important questions we asked ourselves when

seeing (with limited funds) the capabilities of the platform. we started this project was “why create a token?”. We

A lot of components are already tested and are in the MVP aim to create a completely decentralized ecosystem. One

stage with most of the technical development having which will not be subject to the wrongdoing of a centralized

already been completed. economic system, where small businesses and individuals

are not hindered by the political and financial motivations

We are currently looking at potential partnerships that can present in centralized entities.

help with decentralization. This project has been years in

the making and we are already using the engine on our To be able to scale at a later date and go the immutable

personal portfolios while using this opportunity to continue way of decentralization, we created a token that would

to gather data from real-time trading and simulations. We open up many possibilities and enable us to get closer to

will continue to work to get our liquidity pool up and running. our goal of being a company that is acting on behalf of our

This will enable us to put all of our work into a full fledged users and partners. One of the possibilities is horizontal

business and maximize our possibilities. scaling where we could still interact with the Ethereum

mainchain via ERC20 token but run on a sidechain of

Ethereum or another chain with bridging capabilities using

a lightweight consensus mechanism. We also aim to use

decentralized computing power to run our algorithms and

straight logic engines.

With these reasons in mind, we decided to create a token

that will be integral to our ecosystem in both scale and

utility. As you will see in the utility of our token we are also
going for an approach where we engage and incentivize

within our ecosystem in a way that is beneficial for token

holders.

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TOKEN economics and utility

The GEAR token acts as fuel for the Bitgear ecosystem. To Overall GEAR will comprise four underlying utilitarian

use our Gear Engine arbitrage tool you will have to hold a components. Burning, bonus, fee reduction, and fueling.

certain amount of GEAR (to be announced), which will be This gives the token utility, while also not acting as a

used as a “fuel” component that makes the engine run, security. Our goal is to not be classified as security since

allow token transfers to and from the Bitgear.io wallet as this would come with a lot of regulations, we will gladly

part of an investment pool. change this. As regulations and laws change going forward

we will continue to evaluate and will consider making

GEAR acts not only as the wheel that moves your changes that benefit our token holders.

investments and makes them participate in the Bitgear

ecosystem, but also gives you a bonus payout on top of your This is why we opted to go with a utility token instead of a

payout depending on the current ratio of earnings made by security token. We want everyone to be equally rewarded

the Gear Engine. for being an investor with us. We will go more in-depth

to the different utilitarian components of our token in the

While GEAR is being used for the use cases shown above, following;

there will also be a burning component. Depending on the

revenue the Gear Engine generates we will burn a certain

amount of tokens. These burn events will not have a fixed

time but a fixed logic behind it. The timing of the burn will

be spontaneous while still using the formula that applies to 1. GEAR - Fuel

our burning mechanism. Essentially we do not want traders 2. GEAR - Fee reduction

to speculate on the burning mechanism and timing that is 3. GEAR - Bonus (staking)

meant to reward holders of GEAR. 4. GEAR - Burn

Since we want to give our investors the best experience

possible while participating in our ecosystem we feel that

this is a good approach to the burn mechanism.

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GEAR - Fuel

The token is needed to fuel the engine that enables the The burn rate of GEAR as fuel will be set to 0.01% per 24h

arbitraging (aka Gear Engine) component of the system. It for the initial start of the platform but will change due

will be used to enable various tasks and fuel the system to adoption changes and improvements the site will be

as a whole. How much GEAR is needed will depend on the constantly undergoing. Do keep in mind that we will also

general usage of the platform itself and will vary depending have a random token burning event depending on the total

on the trading volume as a whole, as well as the number revenue of the site.

of users that are running their engines simultaneously.

You will always be shown how much Gear Engine time the Work in progress so to speak and is definitely subject to

amount of GEAR provided will be able to achieve and how change to a fair and modest rate. We will always disclose

high the bonus for the given amount will be. the new burn rates on our social media ahead of time.

though the timing will vary so speculative trading based on

A minimal burning process of the GEAR that is used will the burn can be avoided..

get triggered and will depend on various factors such The burn rate may be subject to community voting at

as the total network load of the Ethereum network, GAS some point so everyone will get to enjoy holding GEAR and

needed and fee structure of the different exchanges that participating as a community on decisions that can impact

are currently used for arbitraging the different investments. the platform as a whole.

For the period of the trading process, your GEAR will be

locked in place but can be removed anytime by simply

pausing the Gear Engine process. Your unused GEAR + your

investment will be returned to your personal wallet after

a short unlocking period. The burn and the bonus will be

calculated on the next usage of the Bitgear.io Gear Engine

platform.

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GEAR - Fee reduction

When using our Bitgear ecosystem there will be trading Both the lockup and bonus will be communicated with you

fees which are paid in GEAR or in ETHEREUM if no GEAR ahead of time in a clear and simple manner.

is used in the process. Using GEAR for trading fee payment

is rewarded by a 50% reduction of the fees overall. This Our bonus tier system will reward GEAR holders based on

greatly benefits our users and our Bitgear ecosystem by the amount they are holding. This tier system will grant

rewarding GEAR holders while also creating a way for the bonuses in the form of fee reductions of up to ~33% for the

Bitgear team to incrementally buyback GEAR ensuring a Gear Engine. So at the maximum tier we would be deducting

smooth burning process when the time has come. 10% from the earnings instead of 15%. The exact number of

fee reduction of the different components of the ecosystem

As we will be introducing new and exciting expansions will be determined as we continue to test the system on a

to our ecosystem the fee utility will rise with every new larger scale. Increased liquidity will enable us to fine-tune

introduction and will benefit the holders and users of the the settings and create a structure that best benefits our

token more with every step forward. We intend to use GEAR users. We are currently looking at implementing a three-

as a fee reduction mechanism but it will also have other tier-system with every tier requiring 100% more tokens than

utility within the entire ecosystem. the previous one.

*A special use case (due for further testing) the Gear Fund

will be closed and private, at first will be a management GEAR - Burning

fee reduction of 0.5% when using GEAR to pay said fees. As the engine runs and generates revenue for our customers

So depending on the form we can legally go forward with and for Bitgear.io itself the GEAR token will be equipped with

our Gear Fund, will also use GEAR in face to face financial a burning feature that will be performed at random intervals

advising. dependent upon the revenue generated during that time

period. This means that we will burn tokens equivalent to a

GEAR - Bonus/Staking certain percentage of the profit of Bitgear.io. Unlike what is

When using GEAR to fuel the different components on commonly done by other exchanges these burns will not be

Bitgear.io you will also be rewarded with a bonus depending at fixed dates or at a fixed sum but rather at random times

on the amount of GEAR you stake. So not only will it fuel at fixed rates to counteract speculative trading of the GEAR

your engine with a minimal amount of GEAR but it will also token.

provide you with a bonus (for example on the amount of

arbitrational earnings that are made). GEAR burning will be completely based on income and

will burn a 20% equivalent of our profits in token value and

Over time we will lower our earnings as a thank you to reduce the total supply of the GEAR token this way.

the community for using and locking your tokens. Staked

tokens will be locked up for a fixed timeframe and fixed

amount with a rising tier system depending on the total

amount staked.

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Vision and future development

We have a lot of different goals for the future of our Full decentralization of the platform by using the power

platform. One of the goals is to become a very large of decentralized computation to run the Gear Ecosystem

liquidity provider for current centralized and decentralized without the need for servers. The engine is very lightweight

exchanges. We also aim to act as a tool to smooth out and already optimized for maximum efficiency and speed.

arbitrational spikes between exchanges by introducing a This greatly benefits the steps that are needed to make the

large amount of volume by market making. This can lead to platform truly decentralized. The speed (tps) is sufficient

a more homogenous market overall and eliminate the need to sustain the speed we need for our arbitrational trading

to be “on the right exchange” when it comes to trading. engine and service we provide to our customers. While this

is our ultimate goal we will always put user experience as

Listings and new cryptocurrencies that have just been our priority and will move to a decentralized system only

added for trading can suffer from a huge arbitrational gap when we are happy with the speed and overall experience it

which we can both take advantage of and help reduce. will provide our users.

The larger our personal investment assets are the more

we can act in this fashion. This also lowers our fees since Our biggest goal is to make Bitgear.io an ecosystem

exchanges profit from the liquidity and smoothing out of that can provide a multitude of services that any person

market movements considerably. We aim to get most of interested in cryptocurrency can benefit from. This includes

the exchanges to a similar price as quickly as possible and the inclusion of a FIAT gateway and the usage of our

eliminate huge gaps in price in the process. ecosystem with said FIAT without the need to exchange

it beforehand (thus reducing the need for high fees). For

Scaling in terms of speed and maximum arbitrational this we plan to set up our company at a crypto-friendly

yield is currently the goal and will be our top priority in the environment within the European Union. This move has

development of GEAR. We aim to be able to arbitrage even already been done by some of the biggest exchanges and

the smallest of spatial arbitrages by reducing the fees to will make the implementation of FIAT a realistic goal. Our

an absolute minimum, making even small trades profitable. idea is that everything crypto should be able to be done

This will be achieved by providing the exchanges with a in a few clicks. This includes trading arbitration like a pro

high amount of liquidity and trade volume for which an or exchanging your currency into another, all while feeling

honorarium in form of fee reduction is usually granted as confident it will be bought or sold at the best price possible.

written previously. Exchanges love liquidity and we intend

to provide exactly that. In terms of speed we will be building

our physical servers very close to the largest exchanges

that are currently operating and will spread servers across

the globe when speed becomes the only last competitive

point, which it currently isn’t. Our testing indicates that we

are already faster than most of the competition due to our

streamlined logic and algorithms.

PAGE 14
Important and legal

We as a company do not intend to stay still at any given Depending on your current residency our token might be

moment or let this whitepaper hinder us in any way but act deemed a security in your country. If you are unsure if this is

more as a guideline on things we want to achieve and goals the case please check with our local authorities or contact

we have set for Bitgear.io. This is why we want to distance a lawyer that is familiar with cryptocurrency and securities

ourselves legally and state that this whitepaper is not to investment.

be seen as fixed regulations or even “the law” but rather a

roadmap that is at heart an encouragement to adaptation As of this moment we see our token as a utility tool for the

and flexibility. usage of our platform, and will serve in the near future as

a catalyst in our focus in becoming a fully decentralized

We believe you need to adapt whenever change is needed exchange. We can not guarantee anything in the nature of

or an opportunity presents itself ready to be seized to be economical market value, or even tradability of the token

a winner in the end. Only by keeping possibilities in mind outside of our ecosystem, but will always work towards

and taking chances we can truly flourish. And we definitely providing the best basis for maximum success.

intend to do so while keeping our users best interest in the

focus of our decision making. Data:

Data on 30 day straight logic arbitrage with only guaranteed

Although we have a licensed financial advisor in our ranks earnings: Coins/Tokens: ETH VEN NEO GAS
we can not deem this financial advice since we are not due to the very limited liquidity only these are currently
able to analyze your personal financial situation and offer possible in real world application use on only 2 exchanges
tailored advice afterwards.

Average earnings in percent = 0.96% per day

Investing in the token we provide, is solely to partake in the

Bitgear.io economic system that runs on a token, which Trades that might appear as duplicate entries are not
provides integrated utilities and is controlled by smart duplicates but in fact they represent multiple trades that

contracts that run on the Ethereum blockchain. We do not we compiled out of 100s of the exact same trade to slim

condone trading of the GEAR token on a secondary market. it down a bit.

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Appendix

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