Dear Synthetic enthusiasts, upon confirmation from our oracle partner, Beyond Finance is thrilled to announce our first synthetic assets for our platform to trade. There have been many queries & requests from our community, even during the AMAs, asking about certain assets classes. We have been preparing and experimenting to release some of the most actively traded stocks in traditional financial markets, as well as the top traded crypto, popular forex and well known commodities. We present the following list of Synthetic Assets for Beyond Finance.
Synthetic Tesla: TSLAb
Synthetic Apple: AAPLb
Synthetic Amazon: AMZNb
Synthetic Netflix: NFLXb
Synthetic Google : GOOGb
Synthetic Bitcoin: BTCb
Synthetic Ethereum: ETHb
Synthetic Ripple : XRPb
Synthetic Chainlink: LINKb
Synthetic Uniswap: UNIb
Synthetic Huobi : HTb
Synthetic Euro: EURb
Synthetic Great Britain Pound: GBPb
Synthetic Japanese Yen: JPYb
Synthetic Chinese Yuan: CNYb
Synthetic GOLD: GOLDb
Synthetic SILVER: SLVRb
Synthetic OIL; OILb
Beyond Finance is excited to initiate this synthetic movement. It is estimated that around 30% of the global population is still unbanked/underbanked. Limitation of access to basic finance instruments like loans or term deposits is one problem, but more importantly, generating profits from investments is far within reach. Needless to mention the complicated regulation & restrictions that affect these investment opportunities.
For instance, Tesla stock has been skyrocketing, but the majority of the global population have no channels to invest, unless you are living in the US or have an off-shore trading account.
The team here at Beyond Finance, is working tirelessly in creating a seamless process of trading synthetic assets, faster & easier than ever before.
We recall a story mentioned by one of our team members, Kenneth (Product Lead) ~
“A rural farmer without a bank account, who views positive on electric vehicles and Elon Musk’s vision, can just connect his wallet on Beyond and purchase Synthetic TSLAb. No need to go through the grueling process of KYC to a security firm, provide proof of funds, set up a foreign stock account, transfer the funds and exchange to foreign currency”
Existing synthetic asset trading platforms in the market are generally not user friendly, have scalability issues and are limited in exposure to synthetic assets. Moreover the debt pool information is not disclosed in many synthetic dex, which is one of the key components, but for Beyond DEX, Debt pool will be shown under the stat tap. Users can track and see how the pool is changing, in real time. Beyond Finance follows the philosophy of decentralization. We feel it is of the utmost importance for us to keep our community informed and understand the debt pool in a transparent manner.
The figure above shows a glimpse of the debt pool, debt pool rate and debt pool break down of synth assets. Under the debt pool transaction, the users’ activities in the Beyond platform such as staking, trading or unstaking for different synth assets are reflected. Also included in this section is size amount and date of transaction, all in real time.
All the core functions to navigate and execute to trade & stake are built in one platform (More in the next article).
Under the same stat tap, the users can check the overall weekly rewards, staking information and also the trading statics are available.
BYN token’s main function is to collateralize (300%) USDb stable coin and its a gateway to Synthetic assets. We anticipate the Beta will be ready to open soon as we are in the final stages of development. We shall then announce & accept the selective early tester program.
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