Beta Finance aims to offset volatility and facilitate healthy and widespread use of DeFi by individuals and institutions. The protocol builds an integrated one-click short selling tool that allows DeFi users to initiate, manage and close short positions across all tokens. The protocol enables anyone to create a money market for any token automatically and permissionlessly.
BETA is Beta Finance's native utility token with the following current and planned features:
Staking Incentives: BETA token holders can stake their tokens On the protocol, and as support to make up for shortage events. BETA token holders will receive a portion of the revenue generated by the protocol.
Liquidity Mining: Liquidity is important for the efficient operation of the protocol, and liquidity providers need to put their assets into lending pools for lending and short selling. To incentivize these providers, liquidity providers will be eligible to receive BETA tokens through a liquidity mining program, adjusted based on the relative contributions of users and other parameters.
Governance: BETA token holders will be able to participate and vote in the governance process of the platform. Through governance, users can influence and modify Beta Finance's product features and key parameters. This will allow BETA token holders to influence the direction of the protocol.
Beta Finance consists of the following main components:
"One-click" shorting tool: Beta Finance provides an integrated tool that allows DeFi users to short in atomic transactions. Users can view relevant metrics (price impact, slippage, etc.) directly on the interface and easily manage and update their positions on the dashboard.
Permissionless money markets: Beta Finance will allow users to automatically create money markets for any ERC-20 token. Any token from fragmented NFTs to mature tokens can be listed on Beta Finance.
Segregated Collateral Model: To support high volatility assets, Beta Finance introduced the Segregated Collateral Model, in which users are only responsible for collateral directly related to their positions.
The project has raised $2.75 million through two private token sales rounds, of which 15.00% of the total BETA token supply was sold at $0.0150/BETA and $0.0250/BETA.
As of September 30, 2021, the total supply of BETA is 1,000,000,000, and the circulating supply after listing is 160,000,000 BETA (16.00% of the total token supply).
