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Highlights
- Beta Finance is a permissionless money market ICO, which can be used for borrowing, lending, and shorting of crypto assets.
- The token sale for Beta Finance will start with the recording of user BNB balances from 30 September at 00:00 AM (UTC).
- The Beta Finance will be available for a period of 8 days and Binance users can record their BNB tokens till 8 October.
As the world waits for the much-discussed launch of Beta Finance, one of the most trending initial coin offerings (ICO), investors are lining up to grab their share in the token sale scheduled for 30 September. This is the 21st project on Binance Launchpad. The token sale for Beta Finance will start with the recording of user BNB balances and will follow the same Launchpad subscription format.
The Beta Finance will be available for a period of 8 days and the Binance users will be able to record their BNB tokens till 8 October, 00:00 AM (UTC). However, the final BNB holding for each user will only be calculated after 8 days, using the Daily Average BNB Balance calculation method.
Also Read: Musk Terms Cryptocurrencies as Indestructible Force
What is Beta Finance?
Beta Finance is a permissionless money market ICO, which can be used for borrowing, lending, and shorting of crypto assets. It allows the users to seamlessly create a money market for any crypto asset. With the Beta Finance, the lenders can earn risk-free yield on leading various crypto assets and incorporate the farm yielded tokens in it.
Besides, as a borrower one can use the crypto assets, keeping Ether or a stablecoin as collateral. This allows the users the freedom while interacting with other protocols, without losing their current position.
Also read: UK Investors Can Get Automated Crypto Tax Reporting On Crypto.Com
Why is Beta Finance unique?
Users can deposit the token on Beta and can enjoy the benefit of making it to the money market thereby earning impressive returns in the process. This is one of the reasons why companies consider ICOs as a viable medium to raise capital or be a part of investment opportunities. Having said that, as capital markets too are subject to market risks, this also exposes them to the risk of financial frauds or market manipulations leading to significant losses.
Traders and liquidators too stand a chance to benefit as they can short sell the crypto asset as they have the collateral to back it. Liquidators can earn a reward for liquidating under-collateralised positions. The shorting acts as a counter balancing force to price volatility. It gives the DeFi users the ability to thwart price volatility through the shorting the crypto assets.
Conclusion
Beta Finance has created the right buzz within the market and has the market participants waiting for its launch. The next 8 days will provide the perspective users a chance to invest in the token, see the yield grow, and also give them an opportunity to enter the money market side within the crypto domain.
