BEYOND FINANCE: The Road to Mass Adoption.
2020 was the year of DeFi, as we witnessed an explosion in new DeFi products during the summer of 2020. 2021 will be yet another crypto boom with DeFi taking center stage. As current trends suggest, most DeFi products will begin to integrate layer-2 solutions, side chains, and parachains to provide better experiences.
“The boom has also exposed a lot of vulnerabilities, the most serious ones included high gas costs and low scalability,” claimed Cointelegraph.
Fascinated by the DeFi synthetic assets protocol and the tremendous market opportunity, we realized that the current synthetic protocols in the market still need improvements in many aspects, especially in terms of being more user friendly. Also most of the synthetic platforms are not providing a suitable avenue for synthetic asset trading, so there likely wouldn’t be much room to reward users in the long run once the reward pools are exhausted. Therefore to be sustainable, the synthetic asset trading volume is of paramount importance to supplement the ecosystem.
We, here at Beyond are bringing about a monumental shift to the synthetic assets platform. This will help pave the way towards mass adoption moving forward. Currently most of the synthetic platforms are restricted to a very niche group of users who are willing to pay exorbitantly high gas fees while bearing with low latency, frequent security breaches, and poor UI/UX..
To counter these problems, Beyond Finance is is currently working on the integration of our own proprietary wallet with the existing layer 2 protocols. Our wallet has a couple of key features and advantages designed to tackle aforementioned limitations. The wallet has been already proven with the financial institute here in South Korea and has been adopted by some security companies. More details about this novel innovation with respect to the Beyond proprietary wallet integration will be released when the successful iteration with the layer 2 protocol is tested and completed.
Besides its own proprietary wallet integration, the Beyond Finance platform will also initiate the kick back scheme for the user trading fees who trade frequently on the Beyond platform in order to motivate the traders further and easing the burden of high gas fees.
Beyond Finance’s ultimate goal is to bring DeFi to CeFi users. This involves us bringing our novel UX to satisfy the needs of CeFi users while simultaneously taking away tedious KYC processes that seem to hamper adoption.
The Beyond Finance synthetic asset platform is here to provide the opportunity for users to gain exposure to underlying synthetic assets without holding the actual assets through synthetic products.
Stay tuned! BYN token rewards campaign for early DEX participants and community members will be announced very soon.
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