What Is Beta Finance?
Beta Finance is a permissionless money market that allows users to borrow, lend, and short crypto assets. It enables lenders to earn risk-free yield and borrowers/traders to short any crypto asset using ETH or stablecoin as collateral.
Background
Allen Lee founded Beta Finance on August 18th, 2021. The project was the first project launched on Alpha Launchpad.
How It Works
Users can deploy a money market for any crypto asset on Beta Finance. Lenders earn risk-free yield, while borrowers and traders can short crypto assets using ETH or stablecoin as collateral.
BETA is the native utility and governance token of the Beta Finance platform. Token holders can stake their BETA tokens on the protocol and act as a backstop for covering shortfall events. Additionally, staked BETA holders receive a portion of the revenue generated by the protocol.
Key Takeaways
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- Beta Finance is a permissionless money market for borrowing, lending, and shorting crypto assets.
- Lenders can earn risk-free yield, while borrowers/traders can short any crypto asset using ETH or stablecoin as collateral.
- BETA is the native utility and governance token of the Beta Finance platform, offering staking and revenue-sharing opportunities.
- Users can deploy money markets for any crypto asset on Beta Finance, providing opportunities for lenders and borrowers/traders.
