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Beta Finance

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Discover Beta Finance's fundamentals and latest news.

This content was generated by Whalee (BETA), an AI crypto assitant that analyses cryptocurrencies. Informations can be incomplete and/or erroneous. Please always double check and DYOR.

What is Beta Finance?

Beta Finance (BETA) is a permissionless money market protocol that allows users to lend, borrow, and short crypto assets. It offers a scalable and accessible platform where tokens can be listed automatically and permissionlessly, enabling users to earn interest on their assets and manage risk through short positions.

How is Beta Finance used?

Beta Finance (BETA) is the native token of a permissionless money market on the Ethereum blockchain. It allows users to engage in various activities, including lending, borrowing, and short selling of crypto assets. Here are the key ways BETA is used:

  1. Lending: Users can lend their tokens to Beta Finance markets and earn interest. This provides liquidity to the platform and allows borrowers to access the assets they need.

  2. Borrowing: Borrowers can access the assets lent to Beta Finance by lenders. This enables them to use the borrowed assets for their own purposes, such as trading or investing.

  3. Short Selling: Short-sellers can take short positions by using collateral. They borrow crypto assets, sell them at the current price, and then buy them back at a lower price to repay the borrowed assets, potentially earning a profit.

  1. Governance: BETA token holders participate in the decision-making processes of the Beta Finance project, ensuring that the platform is managed and developed in a way that benefits its users.

  2. Liquidity Mining: Liquidity providers stake their assets in the lending pools of Beta Finance to facilitate borrowing and short selling. In return, they receive BETA rewards, incentivizing them to contribute to the platform's liquidity.

  3. Staking: BETA tokens can be staked to secure the network and earn staking rewards, further enhancing the platform's security and stability.

These use cases make Beta Finance a comprehensive and decentralized money market, offering a range of financial services to its users.

How do I store Beta Finance?

To store Beta Finance (BETA) tokens, you can use the Bitget platform, which offers a secure and user-friendly crypto wallet app called BG Wallet. This wallet allows you to store your BETA tokens safely and manage them efficiently.

How to buy Beta Finance?

To buy Beta Finance (BETA) tokens, follow these steps:

  1. Create an Account:

    • Sign up on a cryptocurrency exchange such as Bitget, Pionex, or BitScreener.
    • Complete the identity verification process, which may include providing proof of identification.
  2. Choose a Payment Method:

    • Select a payment method, such as:
      • Credit Card or Debit Card: This is a simple method for new users.
      • Bank Deposit: Transfer fiat money from your bank account to your exchange account via SWIFT.
      • P2P Trading: Purchase directly from other users on some exchanges.
      • Third-Party Payment: Check the exchange's FAQ for available options.
  3. Fund Your Account:

  • Deposit funds into your exchange account using your chosen payment method.
  1. Buy BETA Tokens:

    • Navigate to the "Buy & Sell" section on your exchange platform.
    • Choose the amount of BETA you want to purchase.
    • Confirm your order, which may involve selecting a market order, stop order, or limit order.
  2. Store Your BETA Tokens:

    • Once purchased, you can store your BETA tokens in your exchange wallet or transfer them to a personal cryptocurrency wallet, such as Metamask Wallet.

Additionally, Pionex offers various methods specifically for US citizens, including bank wire and ACH transfer, which can be used to buy BETA tokens without transaction fees.

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History of Beta Finance

Beta Finance (BETA) is a cryptocurrency that operates as a permissionless money market on the Ethereum blockchain. It allows users to engage in various financial activities such as lending, borrowing, and shorting crypto assets. The platform aims to provide a scalable and accessible money market where tokens can be listed without permission and automatically, and users can short these tokens using decentralized exchanges with automated market makers.

Beta Finance has a total supply of 1 billion BETA tokens, with a circulating supply of approximately 798 million BETA. The platform's market capitalization is around $56.74 million, ranking it 657th among all known cryptocurrency assets.

Historically, the price of Beta Finance has fluctuated significantly. It has seen an all-time high of $2.42 and has been trading at around $0.06 to $0.07 per BETA in recent times. The cryptocurrency's market capitalization and trading volume have also experienced changes over time, reflecting the dynamic nature of the crypto market.

Beta Finance is supported on Coinbase Wallet, allowing users to trade and manage their BETA tokens. The platform's price has shown both short-term and long-term changes, with recent increases of 3.90% over the past 7 days and 1.06% in the last 24 hours.

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How Beta Finance works

Beta Finance (BETA) is a permissionless money market protocol that operates on the Ethereum blockchain. It allows users to engage in lending, borrowing, and short selling of crypto assets. The platform aims to offset crypto volatility and bring market stability, which can lead to greater adoption and mainstream use of decentralized finance (DeFi).

Key Features
  1. Isolated Collateral Model: Beta Finance uses an isolated collateral model, which means that if an asset is compromised, the liability is limited to the collateral explicitly used for the related position. This model eliminates cross-collateralization, ensuring that one asset's liquidation risk does not affect the entire protocol.

  2. Selected Collateral Multiple Asset Tiers: The platform assigns different collateral ratio requirements based on the volatility of assets. Only selected assets are accepted as collateral to mitigate the risk of worthless liquidations.

  3. Dynamic Interest Rate: The interest rate adjusts dynamically based on how far the current utilization rate is from the target range and how much time has passed since the last interest rate update.

  1. Simple Debt Repayment: Users can repay debts using the collateral asset for the position or the underlying asset that is borrowed or shorted.
Functionality
  • Depositing Assets: Users can deposit assets into the Beta protocol, which are managed as an ERC-20 token balance, known as "bToken." This bToken represents the depositor's stake to an interest-accruing share of the underlying deposited token. The deposited asset is added to a pooled fund, which is referred to as Total Liquidity.

  • Lending and Borrowing: Lenders receive bTokens, which earn interest. Borrowers and short sellers pay the borrow interest rate, which is paid to the lender of the asset. Each token has a separate lending pool, providing a layer of protection to lenders and ensuring they earn the maximum yield.

  • Short Selling: Short selling follows the same principle as borrowing. Short sellers can use supported collateral to enter short positions and have the option to leverage a borrow on the Beta Finance platform and sell the borrowed token.

  • Risk Framework: The platform's risk framework ensures that the liquidation of a single asset does not impact the entire protocol. Assets are allocated into different tiers based on their liquidation loan-to-value (LTV), safety LTV, and liquidation bonus tokens.
Governance

Beta Finance has a governance token, BETA, which plays a significant role in bootstrapping liquidity and governing the protocol's key parameters.

Availability

Beta Finance is available on Ethereum and will be launched on additional EVM-compatible chains in the future. Users can access the platform using digital wallets connected to the Ethereum mainnet, such as Metamask or Coinbase.

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Beta Finance's strengths

The token Beta Finance (BETA) has several strengths that contribute to its potential for growth and adoption:

  1. Decentralized Finance (DeFi) Platform: Beta Finance operates as a decentralized finance platform, allowing users to borrow, lend, and earn returns on their investments. This flexibility and customization of borrowing or lending options make it attractive to users seeking financial solutions within the DeFi ecosystem.

  2. Ethereum Blockchain: Beta Finance operates on the Ethereum blockchain, which provides a robust and widely adopted infrastructure for the platform's operations. This association with a well-established blockchain enhances the credibility and stability of the project.

  3. Isolated Collateral Model: Beta Finance employs an isolated collateral model, which ensures that the liquidation of a single asset does not impact the entire protocol. This risk framework helps to mitigate potential losses and provides a safer environment for users.

  1. Scalable Asset Tier Model: The platform's scalable asset tier model allocates assets into different tiers based on their liquidation LTV, safety loan-to-value (LTV), and liquidation bonus tokens. This model helps to manage risk and optimize the use of collaterals.

  2. Binance Launchpad Support: Beta Finance was launched on Binance Launchpad, which is a crowdfunding platform owned by Binance, the largest cryptocurrency exchange. This association with a prominent exchange provides significant exposure and support for the project.

  3. Native Utility and Governance Token: BETA serves as the native utility and governance token of the Beta Finance platform, offering staking and revenue-sharing opportunities. This token's utility and governance functions help to incentivize user participation and decision-making within the platform.

These strengths collectively contribute to the potential for Beta Finance to maintain its growth trajectory and achieve future price predictions, such as reaching an average price of $18.74 by 2030.

Beta Finance's risks

Beta Finance (BETA) is a cryptocurrency project that carries financial risks associated with its volatility and market performance. Here are some key financial risks to consider:

  1. Volatility Risk: BETA's price can fluctuate significantly, leading to potential losses for investors. This volatility is measured by its beta, which compares its price movements to the broader market. A high beta indicates higher volatility and greater potential for both gains and losses.

  2. Systematic Risk: As a cryptocurrency, BETA is exposed to market-wide risks that cannot be diversified away. This includes risks such as regulatory changes, global economic downturns, and shifts in investor sentiment.

  3. Liquidity Risk: If there is low liquidity in the market, it may be difficult to buy or sell BETA quickly enough or at a favorable price, leading to potential losses.

  1. Regulatory Risk: Changes in regulatory environments or legal frameworks can negatively impact the value of BETA. Governments or financial authorities may impose restrictions or bans on cryptocurrencies, affecting their value.

  2. Security Risk: As with any digital asset, BETA is vulnerable to security breaches, hacking, or other forms of cyber attacks, which can result in the theft or loss of funds.

  3. Market Sentiment Risk: BETA's value can be influenced by market sentiment, which can be unpredictable and subject to sudden changes. Negative sentiment can lead to a decline in value.

  1. Competition Risk: The cryptocurrency market is highly competitive, and BETA faces competition from other projects. If BETA fails to innovate or keep up with competitors, its value may decline.

  2. Operational Risk: The project's management, infrastructure, and technology can be vulnerable to operational failures, which can impact the value of BETA.

  3. Counterparty Risk: If BETA is traded on exchanges or used in financial transactions, there is a risk that counterparties may default on their obligations, leading to losses.

  1. Leverage Risk: If investors use leverage to purchase BETA, they may be exposed to amplified losses if the market moves against them.

It is essential for investors to carefully evaluate these risks and consider their own risk tolerance before investing in Beta Finance (BETA).

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Beta Finance's ecosystem

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Beta Finance’s team

  • Allen Lee: Founder of Beta Finance, an MIT alumnus with a background as a software engineer at Microsoft and Facebook.

Whalee AI

The fundamental analysis assistant for crypto value investors.

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