The Road ahead: Mainnet
Beyond Finance’s Mainnet 1.0, due to be launched August 9th, is currently going through some important upgrades to ensure stability and carry no regulatory risk. An official notice was made, informing that the official time for launch + link will be posted at least 3 hours prior to launch. A Slight delay is looking likely, but we will be initiating a BONUS REWARDS program to compensate. A follow-up announcement will be made.
We are eagerly excited about what’s to come, as we are setting up the foundation to present a consumer-friendly, synthetics trading DEX to market.
Road to Mainnet
Ever since the beginning of Beyond Finance, the team looked to embrace and grow the DeFi ecosystem, seemingly wanting to accelerate the pace of accessibility to limitless financial markets.
Throughout most of June & July, we presented our Beta Testnet to a selected exclusive test group (whitelisting), then to the public. Whitelisting for testers was overwhelming, to say the least. But we valued the feedback and advice from our community members. During this period, we revamped our DEX protocol to enhance performance and of course improve “user experience”
Whilst wrapping up our beta testnet, the team has been busy preparing for mainnet 1.0 launch. The bulk of our work has been completing development of our front-end exchange interface, fixing minor bugs, index server finalization and opening our staking platform, as well as addressing issues identified by community members.
We are thrilled to be deploying our initial first phase of the Beyond DEX Mainnet. The team strongly felt that a multi-phase launch ensures security, adoption and exposure. In Phase 1 (Mainnet 1.0), we introduce our Staking Program, our first Synthetics available for trade and the overall user interface of our decentralized exchange. Several key milestones were achieved in only 4 months, with our first phase mainnet launch about to be the biggest milestone of all. Mainnet will be launched in 3 phases, beginning with Mainnet 1.0.
Our opening Staking Program will feature bonus rewards, exclusively for early contributors. All stakers are entitled Weekly Rewards for contributing and providing liquidity to the Beyond ecosystem. Upon launch of our mainnet, anyone will have the opportunity to stake BYN and instantly start earning rewards.
Trading synthetic assets was one of the key value propositions for the team here at Beyond Finance. Every member strongly believed that even during a multi-phase mainnet launch, trading synths had to be available from the get-go. The recent news about Uniswap & Binance did raise a voice of concern, hinting that increased regulatory pressure was the main factor for delisting tokens.For those that are not aware, in contrast to trading “real assets”, trading on Beyond allows exposure to diverse financial markets, in a decentralized manner. Till this day, there is no official legal structure around “decentralized exchanges”. Jurisdiction adds significant complexity to the situation.
Anyhow, we decided on the lineup of synths available to trade on opening mainnet.
With trading synths deployed and activated on Beyond DEX mainnet, new markets were added, such as synthetic Swiss franc (CHFb) synthetic Huobi token (HTb) and synthetic Gold (XAUb)
The Beyond Exchange interface allows for quick off-chain trading and low fees. Users should find it very easy and simple to trade with this interface.
We plan to add another interface during later stages with leverage/inverse trading, probability events, future & options, crypto derivatives and more.
Phase 2 (Mainnet 1.2) will be released, mid-late August. Front-end level security functions will be monitored to ensure trading components in new markets are stable. We will be adding more synths and will introduce a mobile version of our Beyond DEX, available for download.
The development team, along with our publishers, have been working tirelessly to prepare the mobile version ready in time for Phase 2. Adoption & exposure is key to any new “decentralized exchanges”, so a vast amount of time and effort was invested in the mobile version of our DEX. App versions of our platform are also in final stages of development, awaiting approval on both android & OS platforms.
Phase 3 (Mainnet 1.3) will be released in early September. This third phase of our launch will feature our integration with HECO. The decentralized & public blockchain operated by Huobi Global will be launched and marks a key expansion of Beyond Finance’s multi-chain DEX platform.
HECO’s fast, efficient, and environmentally sound DeFi ecosystem currently boasts over $5.9 billion in total locked assets, while the chain’s native token $HT carries a market cap of over $1.8 billion.
Ethereum congestion at times, causes excessive DEX transaction fees and slow transaction speeds, which will encourage user migration. And chains and DEXs like Heco and Beyond that can make this migration will no doubt take over the wealth creation effect of DeFi on the Ethereum chain and benefit from it.
Heco’s public chain is highly energy efficient, facilitates innovative applications, and is developer-friendly. Beyond Finance, originally built on both ethereum and heco, The Heco team will provide support via promotions, traffic and resources. The Heco chain can now circulate Erc20 tokens and other major currency mapping assets.
Beyond Finance supporting HECO will help grow the HECO Ecosystem and bring many new users and new liquidity to our protocol.
So Mainnet countdown begins
We think of Beyond DEX Mainnet as a journey to create a fully decentralized finance ecosystem. What we’ve set out here with the launch of Mainnet 1.0 is a significant milestone on that journey. Our core value of “limitless accessibility” has been instrumental in how we’ve built this first version of Beyond DEX Mainnet.
We remain committed and highly motivated, by the ongoing support from our growing community. It is greatly appreciated.
Thank you for joining us on this journey,
from the team at that Beyond Finance.
About Beyond Finance
Beyond is a decentralized synthetic product trading platform where users can create and trade synthetic financial products, unlocking the full potential of decentralized finance and derivatives without limits. With prominent key partners including Huobi Ventures, Spark Digital Capital, and OKex Block Dream Fund, Beyond Finance allows users to trade decentralized products without any restrictions, allowing individuals to reach their fullest to fully realize the value of Decentralized Finance.