Beta Finance’s 2-Phase Launch

Published on: 16.08.2021

Beta Finance, the first Alpha Launchpad project, will be launching on Ethereum on August 18.

For those joining now, Beta Finance is a permissionless money market protocol for lending, borrowing, and shorting crypto assets. Their mission is to offset crypto volatility by enabling DeFi users to hedge risks through on-chain shorting, and facilitate greater stability in DeFi. With their launch, DeFi users will be able to earn additional high yield on their assets, borrow crypto assets, and have access to a seamless, integrated short selling experience.

Their launch will be broken down into two phases, with Phase 1 starting August 18. In Phase 1, they will be allowing users to lend, borrow, and short assets on Beta Verified Markets only. These Beta Verified Markets are tokens of protocols that have been evaluated to be safe for their users to interact with, and users who interact with special Verified Markets will receive additional BETA rewards. For launch, all Verified Markets will be using Band Protocol and Chainlink price oracles via Alpha Oracle Aggregator. In Phase 2, they will enable users to create money markets for tokens permissionlessly and automatically, and immediately be able to lend, borrow, and short assets on all markets.

Their native BETA token will not be launching with Phase 1, and will come at a later date to be announced. Fear not, there will be a sizable retroactive BETA reward distribution for early adopters of Beta Finance who begin lending, borrowing, and short selling upon their launch August 18.