Binance Launchpad just announced the 21st IEO for Beta Finance (BETA). The exchange will follow the Launchpad registration format to sell BETA tokens. The time to record the user’s BNB balance will be in 8 days from April 30th.
What is Beta Finance?
Beta Finance is a money market where users can act as borrowers, lenders, traders, and liquidity providers for the purpose of generating profits.
The unique feature of Beta Finance is that it enables users to become traders, short “1 click” assets that they believe will go down in price.
Beta Finance gives users the ability to close shorts with just one click to rebalance the DeFi market. It also illustrates Beta Finance’s mission: to offset DeFi volatility by developing critical infrastructure and providing tools to users to create a better marketplace.
Main features and highlights
Linking tool “1 click”: Beta Finance offers a simple, integrated tool that DeFi users can use to short in a single transaction. Users can view relevant metrics (price impact, slippage, etc.) right on the user interface and easily manage and update their positions on the dashboard.
Unlicensed money market: Beta Finance enables users to automatically create a currency market for any ERC20 token.
Isolated mortgage model: In order to support volatile assets, Beta Finance introduces an isolated collateral model in which the user is only responsible for the collateral that is explicitly linked to an order (similar to isolated margin).
Optimized trading: By default, Beta Finance calculates the most optimal trade on all integrated DEX exchanges when initiating a short position.
Operations manager: 19.57%
Team Beta keeps its funds in crypto, stablecoins and fiat. Funds are stored in cold storage multi-signature wallets and USD bank accounts. Any move by the fund requires the approval of at least 3 of the 5 Beta Finance executives and advisers.
Token sales details
Token name: Beta Finance (BETA)
Hardcap: $ 3,000,000
Hard cap per user: $ 20,000 (333,333.33 BETA)
Total offer: 1,000,000,000 BETA
Total number of tokens allocated to the Binance Launchpad: 50,000,000 BETA (5% of the total offer)
Public Sale Token Price: 1 BETA = 0.06 USD (price in BNB will be set before registration)
Token Sale Format: Sign In
Supported tokens: BNB
The preparation time is from September 30, 2021, 7:00 a.m. to October 8, 2021, 7:00 a.m. During this period, the user’s BNB balance is calculated in hourly snapshots for each day over a period of 8 days. Your last daily average BNB balance for these 8 days determines the maximum amount of BNB you can buy later.
The registration time is from October 8, 2021, 1:00 p.m. to October 8, 2021, 5:00 p.m. At this point, the registration will be opened for all authorized users for a period of 4 hours. Users must also sign the “Token Purchase Agreement” at the same time before binding to BNB.
The last token distribution will take place on October 8, 2021 at 6:00 p.m. Your final token allocation will be calculated and the corresponding NBB will be deducted from your blocked NBB amount. After the withdrawal, both your BETA and BNB tokens will be transferred to your spot wallet.
If you don’t have a Binance account, log in here.
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