Beyond Finance AMA Recap— 24/06/2021
Thank you to the Cryptowid for participating in Ask Me Anything (AMA) with Beyond Finance June, 24th 2021 at 11am UTC. This guest star,
Marco ( Head Of Strategy )
Before we start the AMA main segments, we really want to know some informations about yourself. Could you do a little introduction for us to know better about you, Marco ?
Hi my Name is Marco aka Pharaoh26, I’m expat based in Tokyo Japan.
I’m Head of Strategy at Beyond Finance
Before crypto, I always worked in tech, first as a web dev ,then full stack dev related to big data. I got into crypto in late 2012 and traded until 2014, not the best trader.
I took a break and returned to crypto fulltime in 2017 as project Advisor and consultant. I really fell in love with the Ethereum ecosystem. Then from 2018 started to work closer with core teams to BUIDL as they say.
Q.1 What is Beyond Finance? and how does it work ?
Beyond is a DEX (Decentralized Exchange) for Synthetics. The Beyond Trading Platform is built specifically for derivative assets .
The system is based on the BYN token and collateralized USDb (synthetic stable coin).
The USDb Token is used to trade other synthetics assets. While the underlying asset, the BYN token is used as a collateral and reward.
Q2. Could you give us some reason why we have to choose Beyond Finance than other projects out there?
1st the timing was great. To me timing is crucial in crypto.
2nd Beyond Project is based in Korea and I really like the energy of the Korean crypto space. And It’s only a two hours flight from Tokyo.
So in late 2020 one of my friends called me and asked me what I know about synthetics. And introduced me to the very talented core team .I took the opportunity.
Q3. Could you please tell us about Beyond Finance token $BYN ! What are the token use-case, distribution, and where we can buy it ?
BYN token’s main function is to collateralize USDb stable coin and our synthetic assets.
BYN is also used as the main Rewards for all the activity of the platform.
Staking Rewards, LP (liquidity provider) rewards , trading fee rewards.
BYN will also be available on layers 2 , mapped on sidechain and ultimately native cross-chain
You can buy BYN on UNISWAP , SUSHI (Polygon) DEX,
plus MXC and Ascendex Centralized exchanges.
Get BYN on Uniswap V2
BYN Token Address: 0x4Bb3205bf648B7F59EF90Dee0F1B62F6116Bc7ca
Get BYN on Sushi.com
BYN POLYGON Address : 0x11602a402281974a70c2b4824d58ebede967e2be
Q4. Could you give us some information about your roadmap, your milestones, and also your future plans?
Beyond DEX Beta version is soon to be available for closed testing that’s a major accomplishment in the right direction.
MXC and Ascendex good quality CEX listings were also very important for BYN holders.
And just today announcing the HUOBI VENTURES🚀🚀🚀 strategic investment with BEYOND .
Q1. From: @Micael814
What are Beyond’s marketing strategies to attract new users and Investors for this year? and how to maintain investor power in the long term ?
Strong partnerships, synergy and momentum. Keep improving our communication and interaction with our community. Keep our supporters engaged in our growth.
Keep building up our DEX, demonstrate real progress and obviously offer attractive rewards programs until the platform goes live.
Q2. From : @sherintaniyya
I see beyond plans to expand into crypto derivative platforms. Why should we look forward to beyond expanding the crypto network? To compete with other derivative projects, what are the advantages offered by beyond crypto derivatives?
Beyond Synthetics DEX’s initial plan was to be cross-platform, available to traders with assets on different blockchain platforms and this is exactly what we are building. This is an efficient way to expand our ecosystem.
The most noticeable advantage will be the lower collateral and the ease of trading these assets for all levels of traders. Traders will connect their crypto wallet, stake BYN, and trade synthetics with USDb in a few minutes
Q3. From: @jaelisa99
When it comes to $BYN, what are the beyond plans for private sales? When do private sales take place? How can we investors participate in the private round? What are the conditions? Next When does the public round take place? How to participate?
All the funding phases were successfully completed in Q1 2021.💪🏼💪🏼✨
Follow by a successful IDO, TGE , Uniswap listing, Ascendex listing and recently MXC exchange listing.
we raised 7.5 Million USD🙌🏼🔱 Bull Market
Q4. From: @Jipoo55
Does beyond support staking? how does the betting system work, what are the terms and conditions if we want to bet on your platform? If it doesn't support staking, what other programs are the same?
Beyond DEX platform has staking at is core. All traders will be staking BYN token to get USDb (beyond synthetics stablecoin)
Q5. From: @mangbiui
Actually, beyond is a decentralized project or an open source protocol? Can you explain in detail? And how is the governance roadmap being handled and will be implemented?
++ Every Beyond DEX traders will get rewards.
Beyond DEX version one will have part of the code open source
And the hybrid off chain solution will be open source at a later stage, regarding DAO.
Beyond Team is actively looking into DAO best platform and will soon be activated. Giving opportunity to BYN Holders to have impact on governance and development decisions
Q1. Can you tell us about your team members? are they qualified and professional in their fields? what are the recruiting qualifications for team members for your extraordinary project?
The strength of the project is the long term vIsion of its founders.
The founders have worked at Goldman Sachs, Barclays, Deutsche Bank, Franklin Templeton, Credit Suisse, Citi, and they Also have a strong experience in Crypto, One of them co-founded one of the top Korean Crypto Exchange.
Q2. Token burning is a proven way to reduce the supply and increase token value/utility. Do you also have any plan for token burn Or any kinds of buy-back program?
There no Token burn but the Beyond DEX is build on top of BYN Staking.
As the platform get bigger the more BYN Staking is needed for every new users. REAL BYN demand !
Q3. At this moment, which one the most Necessary for your project:
and why?At this moment, which one the most Necessary for your project:
Because we build our BEYOND DEX for the people to access financial tools to empower themself.
Q4. Service fee is something that investors are very interested in, so what is the fee for your project to let investors participate in your project?
Every trade on Beyond DEX will generate trading fees. the trading fees are share and distributed to all BYN stakers.
Q5. For traders, perceptions are the most important thing, so please tell me how the current Defi market feels, is it unstable? Your project ready mentally prepared for Defi market instability, will your project survive the long term?
The Synthetics Market is just starting only1% of its potential.
by 2022 almost anyone with a crypto wallet will be able to trade any asset. Stock favorite soccer team, even music bands.
Follow Beyond Finance social media :
- Telegram : http://t.me/beyondfinanceglobal
- Telegram Announcements: http://t.me/beyondfinancenews
- Twitter : https://twitter.com/beyondfinanceio
- Medium : https://medium.com/@bfinance
- Reddit : https://www.reddit.com/user/BeyondFinance_io
- Website : https://beyondfinance.io/
Thank you for trusting Cryptowid as the organizer of the event today, hopefully everyone can understand about Beyond Finance.
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