Ethereum

Multicoin

Beta Finance

Spartan

DeFi

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/what-is-beta-finance-coin/" data-wpel-link="internal" rel="noopener noreferrer nofollow">What is Beta Finance Coin?</a><br></p>
<p style="text-align: justify">Beta Finance is a money market on Ethereum that allows users to borrow, lend, and short crypto assets. Following its launch on the Ethereum Mainnet, Beta Finance plans to roll out additional layer-1 and layer-2 solutions.</p>
<h2 style="text-align: justify" id="what-is-beta-finance-beta">What is Beta Finance (BETA)?</h2>
<p style="text-align: justify">Users have three options: lending, borrowing, and short selling. Lenders can provide crypto assets for any market available on Beta Finance and earn interest. Borrowers can take the opposite position, while short sellers can use collateral to start short positions. Unlike centralized exchanges, Beta Finance does not use an order book for short transactions; instead, it routes transactions through decentralized exchanges using automated market makers.</p>
<p style="text-align: justify">Beta Finance identifies the significant volatility of crypto as harmful to the adoption of DeFi by individuals and institutions. It views short selling as a critical financial tool missing from the DeFi ecosystem that facilitates market stability and efficiency. Users can easily execute short trades using the platform’s “1-Click Short” tool. With one button, they can select the DEX to swap and stake the newly exchanged collateral with the principal in the short position.</p>
<p style="text-align: justify">Beta Finance follows an isolated collateral model to support more volatile assets, meaning that a collateralized position at risk of liquidation does not jeopardize another position. Initially, Beta Finance supports ETH, USDC, USDT, and DAI as valid collateral, and the community can propose and vote for additional collateral support in Phase 2. Collaterals are subject to various collateral factors: Stablecoins have a collateral factor of 90%, and ETH has a collateral factor of 80%.</p>
<p style="text-align: justify">Beta Finance was founded by Allen Lee, an MIT graduate who previously worked as a software engineer at <a href="https://newslinker.co/category/technology/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="exclude">Microsoft</a> and Facebook. It is backed by a prominent group of investors, including Spartan Group, ParaFi Capital, Multicoin Capital, DeFiance Capital, and Delphi Digital.</p>
<p style="text-align: justify">BETA is an ERC-20 token on Ethereum and BSC. Its security framework consists of four main pillars:</p>
<ul style="text-align: justify">
 <li>Beta Finance conducts continuous internal code reviews</li>
 <li>The platform plans to seek external reviews from leading security researchers</li>
 <li>Real-time monitoring services are said to be available</li>
 <li>Beta Finance will launch a bug bounty campaign for whitehat hackers</li>
</ul>
<h2 style="text-align: justify" id="how-to-buy-beta-coin">How to Buy BETA Coin?</h2>
<p style="text-align: justify">BETA Coin can be quickly and securely purchased via <a href="https://accounts.binance.com/en/register?ref=M8RGDITW" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="external">Binance</a>, the world’s largest cryptocurrency trading platform by trading volume.</p>
<p style="text-align: justify">To buy BETA Coin, one must first become a member of Binance and then transfer fiat currency. After transferring fiat currency like Turkish Lira or dollars, one can proceed to buy BETA Coin in the trading pairs BETA/Bitcoin (BTC), BETA/<a href="https://en.coin-turk.com/bnb-offers-versatile-benefits-across-various-platforms-and-applications/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Binance Coin</a> (BNB), BETA/Ethereum (ETH), BETA/BUSD, and BETA/Tether (USDT).</p>
<p style="text-align: justify">Additionally, on <a href="https://accounts.binance.com/en/register?ref=M8RGDITW" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="external">Binance</a>, users can place buy orders at a lower value than the <a href="https://finance.coin-turk.com/" data-wpel-link="exclude" rel="noopener noreferrer nofollow">market price</a>, allowing them to purchase at their desired price. To do this, use the Limit tab and enter the amount and price you wish to buy.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/what-is-beta-finance-coin/" data-wpel-link="internal" rel="noopener noreferrer nofollow">What is Beta Finance Coin?</a></h5>

What is Beta Finance Coin?

İçindekiler

COINTURK NEWS

22 Tem 2024 tarihli diğer yazılar

Russian Authorities Seize 500 Crypto Mining Rigs in Irkutsk Region

What we know about Kamala Harris’ views on crypto

Truist Financial Corporation (TFC) Q2: Noninterest Income Drops Significantly

Swan Bitcoin delays IPO plan, announces shutdown of mining unit

Kazakhstan Uses Its CBDC To Pay For China Rail Line

Analyst Discusses Bitcoin’s Potential Moves and Market Behavior

Güncel kripto para haberleri için ücretsiz bültenimize abone olun!