What is Beyondfi Synthetic DEX?
Beyondfi Synthetix DEX is a decentralized platform for synthetic financial products. Users gain exposure to the underlying asset price without holding the actual asset through synthetic products.
What is the Beyondfi Synthetic DEX' cutting edge solution?
a) Limited assets available - Synthetic product minting and trading for various assets in the Beyondfi Platform.
b) Poor Price Tracking - Tracking real time assets price via oracle system.
c) High Cost trading and minting - Minimum Transaction fee and kick back scheme with gamification functions.
d) Low liquidity - Provide deep liquidity through Beyondfi Treasury.
e) Poor UI/UX - User friendly and intuitive interface.
f) Lack of Expertise/mechanism - Audited, secure with affordable collateral ratio - Orderly Liquidation mechanism.
How is Beyondfi Protocol different from other DeFi derivatives protocol?
Beyondfi protocol is layer 2 solution resolving the issue of scalability, network congestion and high transaction fee. Beyondfi implies the innovative approach of combining the usual Bid/Ask Order book and mechanism of automated market maker. Beyondfi provides the arbitrage profits opportunities with the synthetic asset and its underlying assets. Arbitrageurs can buy the synthetics and use it to unlock the corresponding value of BYN tokens. Beyondfi protocol also has a special feature call synthetic auctions whereby during the price discrepancy of more than 10% between the synthetic and underlying assets, the equilibrium in the price for the synthetic is restored.
What is the requirement to take part in Beyondfi Governance?
To participate in Beyondfi Governance, each stakeholder must have at least 50,000BYN tokens actively within their wallet. (please refer to Beyondfi Governance for the details)
How is Beyondfi Improvement Proposal (BIPs) operated?
BIPs is operated through the governance portal which is base on Ethereum Improvements Proposals. Beyondfi DAO will evaluate and review the submitted BIPs. The proposal should secure at least 5% of total BYN token supply voting (1BYN = 1 Vote), failing which the proposal will be declined. If the proposal is accepted the BIP can be challenged by BYN holder within the next 21 days.
What are the value propositions and incentives? How can I earn if I participate in the Beyondfi Finance protocol ?
1.Staked BYN tokens – Earn a Staking Reward.
2.Staked/ BYN Holders – Earn Daily Rewards.
3.Investing (minting) Synthetic Assets – Earn Portion of Newly Minted BYN Tokens as Added Incentive.
4.Beyondfi Governance – Receive Additional BYN Incentive.
5.Liquidity Provider – Earn LP rewards.
6.Lower Collateralization Ratio – Less Capital Intensive for Users of BYN platform to Invest (mint) Synthetic Assets