Beta Finance January Newsletter

Beta Finance released January Newsletter.

Beta Finance went live on Avalanche on January 19, starting with markets for AVAX, WETH.e, and WBTC.e. Since our launch, users have deposited over $10M++ of tokens into markets on Beta Finance, with a cumulative borrow/short volume of $4.4M++ across the three markets.

Users are able to lend, borrow, and short tokens, while spending less than $1 on gas! Beta Finance provides the simplest way to short sell crypto assets on-chain in the Avalanche ecosystem by using any supported collateral (USDC.e, DAI.e, USDT.e, WETH.e, or AVAX).

Beta Finance will continue to run liquidity mining incentives for our users on both Ethereum and Avalanche. Earn BETA tokens through using the protocol! We are continuing to work with the Avalanche Labs team and additional partners to bridge the BETA token over to Avalanche as soon as possible.

Once this is complete, users will be able to claim token rewards in the same structure as is done on Ethereum. The liquidity mining program is updated every two weeks on both chains, and tokens are claimable after a one week calculation period following the end of the two week period.

They announce that the BETA/ETH price feed is now supported by Chainlink on Ethereum. Other protocols that rely on Chainlink price feeds for their tokens are now able to support BETA securely.

About Beta Finance

Beta Finance is the permissionless money market protocol for lending, borrowing, and shorting crypto assets.

INFO

https://medium.com/beta-finance/beta-finance-january-newsletter-410aa1b2b0e7

Source: https://thebittimes.com/beta-finance-january-newsletter-tbt11345.html?utm_source=blogger_source&utm_medium=blogger_medium&utm_campaign=blogger_cam

Category: DeFI News

Post by: TheBitTimes.com