Beyond Finance raises $7.5M and democratizes access to synthetic products

Beyond Finance, a decentralized platform for creating and trading synthetic financial products, announced a $7.5 million funding round from leading blockchain funds including Moonwhale Ventures, A195, DuckDAO, Cryptomeria Capital, Blocksync, X21 Digital, Rarestone Capital, Master Ventures, Consensus Capitale, and more. The announcement comes after the company raised the funds simply by word of mouth for the past few weeks, without any publicity ahead of its initial DEX offering scheduled for early April.

Beyond Finance is building a robust decentralized platform and protocol dedicated to helping institutions, small and medium enterprises, and individuals create and market synthetic products. Using Beyond Finance, users can use the company’s synthetic commodities trading platform to access a wide range of traditional assets, all in a seamless and decentralized user experience. Users will be able to access synthetic products by staking Beyond’s native token, BYN, investing directly in the assets, trading other synthetic assets, and lending Ether (ETH) in exchange for synthetic tokens.

Dorji Rabten, COO of Beyond, said, “We are excited to share our vision of creating an easy-to-use and democratized synthetics ecosystem with some of the best investors in the industry. Currently, access to synthetics can be difficult, and many offerings have critical flaws that create trust issues within various ecosystems. Beyond seeks to solve this problem by offering the same institutional quality solutions and access for all.

With a team made up of alumni of major companies, such as Goldman Sachs, Barclays, Deutsche Bank, Franklin Templeton, Credit Suisse, Citi, etc. Beyond’s mission is to bring decentralized finance and synthetic assets to a global population that currently does not have access to and or does not know how to use these products. The potential for a fraction of this population to convert means the potential to onboard millions of new people into the DeFi ecosystem, as well as billions of dollars in new capital.

The team plans to use the funds raised to scale the platform, onboard new developers, and provide support for the upcoming BYN token launch, which will help incentivize and attract users to the platform. Beyond’s IDO is tentatively scheduled for early April, which will allow community members to participate in the company’s public token sale. More details will be released closer to the date on Beyond’s official channels.

About Beyond Finance

Beyond is a decentralized synthetic financial product creation and trading platform designed to meet the needs of the synthetic creator. These synthetic products can be designed to track the prices of underlying assets, such as currencies, commodities, stocks, exchange-traded funds, etc. Each synthetic product can be designed to represent $1 or more of complex products, such as leveraged/inverse ETFs.

These synthetics are governed by the Beyond Protocol and backed by BYN tokens. Significant liquidity is created for synthetic products through our automated market maker which relies on our protocol. Bid/ask orders can also be used on the trading interface for controlled trading orders. BYN token holders are incentivized to stake and provide liquidity to synthetics, as this allows token holders to be rewarded with additional BYN tokens.

Media Contact: Dorji Rabten, [email protected]




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