Insights

First Look: Beyond Finance

Apr 22 - Mitchell Keller
First Look: Beyond Finance

The Exclusive DeFi Project That Takes Synthetic Assets Above and Beyond

Synthetics: A Superb Idea with Room to Grow

Synthetic asset protocols provide users with exposure to underlying assets without actually having to own them. The power of synthetics originates from its seamless user experience and investment flexibility. While on paper, this is a terrific concept; in practice, synthetic asset protocols are plagued by low liquidity, high transaction costs, and prehistoric user interfaces. All of which renders synthetics one step short of greatness.

A Step Beyond That Feels a Mile Ahead

Beyond Finance is equipped with the potential to become the predominant synthetic asset protocol and exchange. Beyond took an eclectic approach in developing its protocol, learning from the aforementioned shortcomings of its competitors. Through a development-first mindset and a proclivity for problem-solving, Beyond stands to eradicate the complex issues that previously stunted synthetic asset protocols. Beyond solves these issues by implementing an ingenious Automated Market Maker, exemplary liquidity system, and simplified UX. These fundamental differences provide a solution to the problems that undermine other synthetic protocols’ integrity, making Beyond appear to be a mile ahead.

Who’s Behind Beyond

Behind Beyond, you’ll find a team with backgrounds ranging from Harvard to Credit Suisse and Goldman Sachs. Furthermore, Beyond has a litany of superb strategic backers in the likes of Master Ventures, DuckDao, and of course, GD10. Although the team prefers to stay clear of the limelight, their background and platform speak for themselves and should instil investors with confidence.

Token Utility

The $BYD token and all its utilities are the driving forces behind Beyond’s profound liquidity system. $BYD enables users to stake, invest, trade, and loan on the BeyondDex (more details on this in our educational article). Staking allows users to earn a portion of the fees, which maintains Beyond’s high liquidity,  further solidifying the safety in trading and investing in the synthetics hosted by Beyond. Lastly, loaning allows users to access synthetic assets via Ethb and Usdb. The most compelling use case of BYN is the ability to customize and mint one’s own synthetic assets, allowing diversity on BYN to stay ahead of its competitors in perpetuity.

Final Thoughts

Overall we are impressed by the team behind Beyond. The technology gives it a competitive advantage compared to other synthetic protocols, and we look forward to supporting its future growth.

 

By Mitchell Keller

LinkedIn: https://www.linkedin.com/in/mitchell-keller-39885220a/

Eds. Dr Deeban Ratneswaran

LinkedIn: https://www.linkedin.com/in/dr-deeban-ratneswaran-6b735384/

Check out Beyond Finance for yourself, at beyondfinance.io.

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