Binance Launchpad has 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 07:00 on September 30 to 07:00 on October 8.
What is Beta Finance?
Beta Finance is a money market in which users can act as borrowers, lenders, traders, and provide liquidity to earn profits.
The unique feature of Beta Finance is that it allows users to become traders, Short “1 Click” assets that they think the price will fall.
By allowing users to Short with just 1 click, Beta Finance provides users with tools to rebalance the DeFi market. It also clarifies Beta Finance’s mission: Offsetting DeFi volatility by developing critical infrastructure and providing tools for users to create a better marketplace.
Key Features and Highlights
Shortcut tool “1 Click”: Beta Finance provides a simple, built-in tool to allow DeFi users to short in a single transaction. Users can view relevant metrics (price impact, slippage, etc.) directly on the interface, and easily manage and update their positions on the dashboard.
Unlicensed money market: Beta Finance allows users to automatically create a currency market for any ERC20 token.
Isolated mortgage model: To support volatile assets, Beta Finance introduces an isolated collateral model where the user is only responsible for the collateral explicitly linked to an order (similar to Isolated Margin) .
Optimized trading: Beta Finance by default calculates the most optimal trade on all integrated DEX exchanges when initiating a short position.
Operations manager: 19.57%
Team Beta holds its funds in crypto, stablecoins and fiat. Funds are stored using cold storage multi-signature wallets and USD bank accounts. Any movement of the fund requires the approval of at least 3 of the 5 executives and advisors of Beta Finance.
Token sale details
Token name: Beta Finance (BETA)
Hardcap: 3,000,000 USD
Hard Cap per User: $20,000 (333,333.33 BETA)
Total Supply: 1,000,000,000 BETA
Total tokens allocated to Binance Launchpad: 50,000,000 BETA (5% of total supply)
Public Sale Token Price: 1 BETA = 0.06 USD (price in BNB will be determined before registration)
Token Sale Format: Sign Up
Supported Tokens: BNB
The preparation period is from 7:00 a.m. on September 30, 2021 to 7:00 a.m. on October 8, 2021. During this period, the user’s BNB balance will be calculated in hourly snapshots for each day over an 8-day period. Your last daily average BNB balance for these 8 days will determine the maximum amount of BNB you can commit to buying later.
Registration time is from 13:00 on October 8, 2021 to 17:00 on October 8, 2021. Registration will open at this time to all eligible users for a period of 4 hours. Users must also sign a “Token Purchase Agreement” at the same time, before committing to BNB.
Last token distribution at 18:00 on October 8, 2021. Your final token allocation will be calculated and the corresponding BNB will be deducted from your locked BNB amount. Once deducted, both your BETA and BNB tokens will be transferred to your spot wallet.
If you don’t have a Binance account, sign up here.
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