(1/8) Last Friday Beta Finance hosted an AMA with @AlphaFinanceLab! There were a lot of great questions, so in case you missed it, here are the highlights!
For full AMA see Alpha’s Discord (AMA channel): discord.com/invite/Z2vuKDT
For full AMA see Alpha’s Discord (AMA channel): discord.com/invite/Z2vuKDT
(2/8) When will Beta Finance launch?
We will be launching Q3 2021! Our team is working hard to deliver the best product to our users, and can’t wait to share what we’ve built.
We will be launching Q3 2021! Our team is working hard to deliver the best product to our users, and can’t wait to share what we’ve built.
(3/8) What chains/L2’s will the project be on?
Beta will launch on Ethereum and BSC initially. With a follow up launch on Polygon soon after! Other chains/L2's will be announced.
Beta will launch on Ethereum and BSC initially. With a follow up launch on Polygon soon after! Other chains/L2's will be announced.
(4/8) How does Beta Finance initiate the short position?
When a user initiates a short through Beta, the protocol will borrow the short token from a native money market and swap it to the collateral token through a DEX. The user can easily manage their position on our dashboard.
When a user initiates a short through Beta, the protocol will borrow the short token from a native money market and swap it to the collateral token through a DEX. The user can easily manage their position on our dashboard.
(5/8) Can I short any token for any token?
Beta will allow users to short any token, as anyone can create any money market on Beta. To mitigate compounded risk, Beta will initially support ETH and stablecoin collateral, and community will be able to vote to add new collaterals.
Beta will allow users to short any token, as anyone can create any money market on Beta. To mitigate compounded risk, Beta will initially support ETH and stablecoin collateral, and community will be able to vote to add new collaterals.
(6/8) How do you protect users from illiquid money markets?
Beta Finance will only surface community verified markets easily to new users. Riskier markets will need to be explicitly searched for, and we integrate metrics to help users evaluate risk. Details to come in blog post!
Beta Finance will only surface community verified markets easily to new users. Riskier markets will need to be explicitly searched for, and we integrate metrics to help users evaluate risk. Details to come in blog post!
(7/8) Will there be initial token money markets available on launch?
Yes! On launch, we will automatically enable several money markets for users to interact with (UNI, SUSHI, etc.). Users can earn BETA rewards by interacting with these money markets too! More details to come!
Yes! On launch, we will automatically enable several money markets for users to interact with (UNI, SUSHI, etc.). Users can earn BETA rewards by interacting with these money markets too! More details to come!
(8/8) There were a lot of great questions in the AMA, and I could see how excited the community is about our product! For fuller answers to these highlights check out the AMA. Thanks to everyone who joined, and stay tuned for upcoming announcements!
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