We are pleased to announce our next AMA on September 3rd 2021 at 05:00 PM UTC Time: Satoshi Club x Beyond
⚠️Click to see the hour
⚠️Total Reward pool: $500
⚠️Requirements:
👉 Join Satoshi Club Telegram group
👉 Join Beyond Telegram group
We will have the following structure:
Part 1: 100$ /6 users – We’ll select 6 questions from the community. A user can post maximum 3 questions.
Part 2: 100$/10 users – Open chat for 120 seconds. You can post Max 3 questions. Beyond Team will select 10 questions and answer them.
Part 3: 300$ – A quiz about Beyond
For more details:
Beyond Website – beyondfinance.io
Beyond Telegram – @beyondfinanceglobal
Satoshi Club – @satoshi_club
Russian – @satoshi_club_ru
Spanish – @satoshi_club_spanish
Beyond to prevent HOLDER from selling $BYN Token and makes price down ? How do you convince user that your Liquid Program is great for Long term investment?
I’m searching on possible $BYN Token farming programme and found none of it. Is farming not gonna be part of your platform or the team have plan to add it in the future?
You have announced recently a
STAKE TOGETHER WIN TOGETHER ( REFER And EARN )
a special refferal programme which gives chance to be rewarded $BYN for both referrer and referee for reffering and staking $BYN .
Could you tell us more details about this event also for our satoshi clubbers.?Can user still partcipate this programme ?because exact time period wasn’t mentioned..Is there a maximum number of refferals per user ?what is the minimum lock up period and APY for staking $BYN ?
Thank you.
Actual and live prices of synthetic assets are difficult to determine and that is why oracle plays a big role in synthetic asset platform like Beyond Finance’s. For your market and platform, what oracle service provider are you using? Does Beyond Finance uses third-party oracle providers? If so, would you develop your very own oracle in the future to access price feeds and data from different assets around the world?
Synthetic assets aren’t guaranteed profits, it is still leveraged trade and is prone to the risk of liquidations. I have learned that Beyond Finance’s liquidation mechanism has three different features built underneath it, the Liquidation Insurance Fund, Partial Liquidation and the Oracle and Time Delay. Would you care to explain to us how does these features works on liquidation on your platform and how it is helpful and beneficial to your users as well as to Beyond Finance’s market structure?
I have learned that to participate and invest within Beyond Finance’s synthetic assets, users are required to maintain the collateralization ratio by 300%. This would comply to Beyond Finance needed collateral and would allow users to invest 1 synthetic USDb which then can be used to transact synthetic assets. May I know, is setting the collateralization ratio by 300% a strategic decision from Beyond Finance’s team and advisors? Why did you opt to go for 300% specifically? Would it be beneficial for your users to have this amount of ratio?
One of a core advancements of DeFi was the introduction of decentralized exchanges built under the automated market maker (AMM) model. but Order books are still found on CEXes which offer more advanced functionalities that are not present on AMMs.
But with Beyond Finance User can experience advantages of both these models..because it brings innovative approach of combining the usual Bid/Ask order book mechanisms with automated market makers to protect users from exploitation.
Could you tell us more information about this innovative approach.?,How will this approach intergrate both architectures within beyond Finance by obtaining advantages of both models and overcome their shortcomings ?
Thank you.
It is happy to see that The Beyond exchange offer loans. However, it has been indicated that we have to lock ETH and borrow ETHb or USDb. It is true that ETHb and USDb are faster and cheaper to transfer, but they have limited utilities and they are not available on popular exchanges. Why did you decide to offer loans with these tokens? There are many platforms that offer loans with our desired currency. Then why should I choose The Beyond to apply for a loan? What are the unique benefits you offer?
As a cryptocurrency trader and an investor, I am using many exchanges. Four features you have mentioned, stake, invest/redeem, trade and loan are common for almost all exchanges. It is true that you offer considerable rewards for staking $BYN. However, many exchangers offer this type of priviledges for holding their own token. Then why should I leave popular exchanges and join your fresh platform? What kind of experience do I get from you? Please explain the unique features or uniqueness in the common features attached to your platform.
You have created $BYN as a ERC-20 token. What is the reason for that? Compared to BSC, which is the most popular chain these days, Ethereum chain has a relatively high gas fee. Don’t you think creating a token in ERC-20 type will dicourage small investors? Do you have plans to expand your token to more chains in the future?
One of Beyond innovative approach that can help your users with liquidation when the collateral they used to create the synthetic fall beyond a certain value threshold is Orderly Liquidation Mechanism (OLM). Can you explain how OLM generate insurance fund and how it uses this cover fund to enhance incentive for users to do a safe payments of their debts? How will OLM automatically liquidate users entire position thereby preventing a less than 100% collaterization ratio situation? How will it ensure that users only experience safe liquidation and not a complete loss of initial collateral and investment?
One of the challenges of synthetic products is poor price tracking of these products in relation to the actual underlying products. How is your synthetic pegging mechanism able to accurately track the price of both the synthetics and their underlying products? How will your protocol addresses the situations where both the synthetic products and their underlying assets varies considerably and in what way can arbitrageur benefit from these price discrepancies? In addition, can you explain the role of Synthetic Auction in the price stabilisation process? How is auction done and how does it help you to restore equilibrium in the prices of synthetics?
At start, your project will be controlled by what you called benevolent dictatorship by the team before transitioning into a DAO. How benevolent will the team be during the initial stage of dictatorship and for how long will it last? Also, why do you think it is necessary for your users to stake a minimum of 50,000 $BYN in their wallet before they will be able to have a say when you eventually transit into a DAO? Why will governance not be opened to every valuable members irrespective of the $BYN held? Also, you said users will be incentivized to participate in governance. What type of incentive are you going to offer and will such incentives be given out in proportion of users BYN also? Will incentive be for all users that join the proposal through voting or is it only meant votes that won the proposal?
Beyond Finance is a novel way to access synthetic assets, providing traditional financial services to the global crypto community. Beyond’s DEX will simplify trade in synthetics. Beyond is here to overcome the limitations of existing synthetic asset platforms (slow transactions, low liquidity, high gas rates, bad user interface). How the DEX will simplify the trade of synthetic products? How is Beyond working to overcome the limitations of existing synthetic asset platforms?
Not all cryptocurrency traders are familiar with trading synthetic assets. Right now, these platforms suck: they are difficult to use, expensive, have difficult to understand mechanisms, and are illiquid. Beyond will make it easy and friendly to use, specifically targeting retail users around the world. How is Beyond working to make its platform user friendly? How will you go beyond to have liquidity? How will you allow a user not so familiar with the crypto world to access your platform?
security is the top priority for the Beyond platform. Beyond is more wary of hacking / flash lending attacks recently and will employ all measures to protect itself from those attacks. There will be frequent checks and Beyond will monitor the platform daily / weekly / monthly to make sure everything is safe and secure? How will the Beyond Finance platform really be protected in terms of Security?
How much must be initially invested to be able to mint synthetics and obtain rewards, how many tokens are allowed to mint per wallet, it is possible through Beyond Exchange to exchange with stable fiat currency or stable cryptocurrencies, from how many tokens minted you begin to receive profits, which is the order book Bid / Ask and how does it work?
What are the main synthetic assets and what are their financial uses? Some projects have managed to back non-expendable assets with real assets, do you consider that the same can happen with synthetic assets, which is the main difference between liquid assets, illiquid assets and assets synthetic?
Because they have decided to implement the gamification function to offset part of the commercial rate, which is exactly gamification and what is its incidence, as well as Beyond is interested in achieving a speed close to CEX, which other centralized and traditional aspects could involve in blockchain, since Beyond will adopt the Layer 2 solution to achieve scalability, have you thought about creating an interoperable space, what is your opinion about DEX, how do you envision its long-term future?
It is stated that one of the key differentiator of Beyond Exchange is that it is fully decentralized yet has ability to support advance trading functionality such as limit orders, stop loss/take profit levels, leveraged trading, and other features seen on centralized exchanges… So how does some of this your advanced trading fucntionalites work are they peculiar to just Beyond Platform, and apart from these ones what other advanced trading functionalities will you implement on your platform..
To ensure continual development and security of the “Beyond” project, it is said that a treasury fund controlled by the DAO will be implemented, and that this treasury fund will be initially seeded by the core team as there may be uncertainty on the value of BYN tokens in the early stages..so where will the money for this treasury fund continually come from, how will this treasury fund be used for the development and security of the platform, and how will the DAO decide on how this fund is being used..
On Beyond platform, it is said that another way of having access to synthetic assets is by locking ETH (or USDT) and borrow ETHb or USDb, and the benefits of using ETH is that borrowers do not need to sell ETH (e.g. continue to maintain ETH price exposure) yet, still can have exposure to synthetic assets… So how do users lock ETH or USDT to have access to synthetic assets, does this method give access to all synthetic asset in your platform, what will the ETHb and USDb be used for when they are borrowed…..
Could you explain to us what are the steps to follow to obtain $ETHb and $USDb? What is the role of the $ETHb and $USDb tokens in Beyond Finance? and what is the difference in use between it and $BYN?
It has been almost a month since the launch of your Mainnet, on August 9th. In the article that announced the launch of Mainnet 1.0, you also mentioned that Mainnet 1.2 and Mainnet 1.3 were supposed to come in mid-late August, and early September, respectively. Would you tell us what has caused the prolonged delay? I also see you’ve been experiencing some problems with ETH transfers, and your website. So, could you also tell us what you’re doing to fix this, what is the root of these problems, and how will you keep things like this from happening in the future?
We bet $ BYN tokens to mint synthetics, we earn daily rewards as an additional incentive, how can we calculate how much that incentive reward would be? Will the incentive be distributed in $ BYN, $ USDb, ETHb tokens or in another currency? And do we have to meet other requirements in order to receive the daily rewards?
Beyond allows its users access to synthetic assets by locking ETH and Borrow ETHb or USDb, however, this topic is not fully developed in your documents, could you tell us the advantages of using your synthetic tokens for this Loan model? What is its usefulness?
In your documents they mention that the BYN staker needs to maintain the collateralization ratio of 300% and manage their own ratio by either redeeming the USDb to increase their ratio or investing USDb to reduce it, so if you look at it it is not such a simple process and perhaps not for any type of investor with less experience, it could even be somewhat risky, could you tell us through which features in your ecosystem could you generate profits in a more simplified way? Isn’t it enough just to be a holder?
They recently announced a strategic partnership with Klaytn, which is understandable since they both share a common vision; the need to accelerate the global adoption of DeFi, but could you explain to us how this partnership with Klaytn will boost the Beyond ecosystem? And what are the benefits of this association?
In your roadmap you say that for this phase of the year they will have a gamification v1 feature, but now there do they mention how Beyond finance could get involved with the blockchain gaming world, can you tell us how you could include synthetic assets in games?
I read that our staked BYN tokens will be rewarded with additional tokens, in line with the staked period and amount (as well as, access to the governance, if staked number of tokens meet a certain requirement). What is that requirement that you mention to be able to access governance? And a question about governance … what does the voting power of each user depend on? Is the voting power of each user going to vary depending on the amount of tokens we have or will the voting power be equitable among the entire community?
I read that the final goal of governance on Beyond Finance is to become a Decentralized Autonomous Organization (“DAO”). However, you mentioned that the initial stage of launch can be delicate with some degree of centralized control required. What are the reasons behind it? Why would some degree of centralized control be necessary? Can you explain this to us according to your perspective? In the following stages, will you remove that centralized control to become 100% decentralized or will there be a percentage (to be determined) of centralization in each stage?
It is known that new and more stringent regulations are the most complex problems that professionals are facing and before the implementation of existing regulations, platforms like this only attract new traders with large bonus offers and other incentive programs. But now, they find other ways to grow their trading platform without bonuses or exaggerated promises a high return rate. What do you have in plan to grow your platform? How will you demonstrate your financial expertise in order to attract more users? Since Beyond protocol will govern the synthetic products, how do you want to prove transparency and the doubt of manipulation from users?
An important feature of the liquidation mechanism of Beyond Finance is the Oracle and Time delay. As stated, the Oracle uses secondary price feeds from multiple sources to determine the value of collateral. As the oracle gets this needed information, can you tell us the multiple sources of it’s price feeds, and since this action helps to prevent exploits and forcing liquidations, how does Beyond ensure the authenticity of these price feeds? It also stated that a time delay mechanism of 15 minutes is included to this operation. Why is this time delay necessary and why would you opt for a delay of 15 minutes as against other timeframes?
Beyond Staking, which is a flagship staking program available on the Beyond Finance mainnet offers instant rewards as part of it’s structure and boasts of a Weekly Rewards Pool and a Debt Pool. Can you extensively talk on these pools, how are they constituted, and how are they calculated? Also, its stated that a user has to meet certain staking criteria in order to benefit from your Weekly Rewards Pool. Can you carefully highlight some of the requirements and criteria, and what is the distribution formula, and finally, what is the correlation between the Weekly Rewards Pool and Debt Pool?
The Beyond DEX is currently not available in mobile versions and your services are presently limited to the Ethereum chain. However, there are plans to enable mobile functionalities (both in android and iOS), expansions to other chains as well as multi-chain solutions. Can you carefully update us on the current status of these developments and integrations, when can we expect a full and robust mobile support for your DEX, what possible blockchains would be considered for service expansions, and how best will your multi-chain solutions be incorporated in your DEX operations?
You planned to finalize your governance on Beyond with Decentralized Autonomous Organization DAO. Presently the project is growing rapidly under some degree of centralized control where all issues from user’s feedback are attended by the core team, Execute orders in milliseconds and ease to regulate by going through proper requirements from the authorities. With all these features from centralized control, why has DEX been your ultimate goal? Hackers has grown to the extent of breaking private keys, With the little time of being CEX, how will you guarantee safety for the users fund?
Out of four quarters we have this year, It was indicated that only first quarter development has be accomplished so far in your roadmap, which the 2nd and 3rd quarters is still there to be touched. I really want to know what has been the delay for not be able to continue the development? Do you bring-in new idea or some developments are out there anonymous which the team are facing right now? What exactly are you up to now and when are you going to update your roadmap in order to meet up with your goal (DAO)?
You allocated 10% of your token total supply which is 100,000,000 for the early contributors, though this project has exists for some months and some are just getting to know it through this AMA, I want to ask if there is an opportunity for someone interested to be part of early contributors to benefit from the allocation? If it is possible, how and what area can someone contribute to? And how do you want to movitate small investors in your project with your token based on ERC20 high gas fee, do you have in plan for more integration with affodable gad fee blockchain?
Bringing this into practical and realistic aspects, Beyond will create a trading platform of synthetic financial products designed to suit the needs of the creator. It was stated that these synthetic products are governed by Beyond Protocol, Since you are only meant to provide users with price exposure and not the creator of the products or can see indicator code, For what reason will your protocol governs the synthetic products and to what extent? And apart from BYN token will collateralize the products, what other use cases do you provided for your token?
You have implemented Beyond Improvement Proposal (BIPs) on your project,which is submitted in all phases of your project.Can you tell us the primary focus of the BIPs?How is it evaluated?The BIP proposal is also divided into multiple related section such as new asset pair creation,reward and redistribution ratio change etc,how will all this sections help in the development of your project?Lastly,how can users through BIPs participate in DAO? Thanks
To ensure continual development and security of your project,you implemented a treasury fund that is controlled by the DAO.How will this treasury fund be seeded,will it be done by investors or your team?What will the fund in the treasury be used for?If there may be uncertainty on the value of $BYN token,how do you ensure that treasury fund is used judiciously?Many crypto currency project have collapse due to lack of team trust and transparency,how do you ensure that there is team trust in the usage of funds for the development of your project? Thanks
Beyond synthetic products track the underlying asset price of the asset. Each synthetic product is backed by Beyond (BYN) tokens and a shared pool of collateralized BYN tokens are used to back the synthetic products with a collateralization ratio of 300%.My question is,What is your reason for setting your collateralization ratio to be 300%?In the future will the collateralization ratio be reduced as liquidity is developed?What incentives have you provided to deepen the liquidity pool for various BYN related pairs? Thanks
I read in your document that Beyond protocol is layer 2 solution resolving the issue of scalability, network congestion and high transaction fee but your token is an ERC-20 version and as we know Ethereum network charges a very high gas fee or transaction fee. So how will your platform helps to resolve the issue for network congestion and high transaction fee if in the first place your token is an ERC-20 token? By the way,why do you choose to be deploy first in Ethereum network? What advantages that Ethereum network will bring to Beyond Finance? Aside from Ethereum network,do you have plan to integrate with other networks in the future like BSC,HECO or other networks? Thank you
In beyond platform users can earn profits in two folds: first by trading synthetic assets, secondly by staking BYN token in beyond platform. Can you explain how Beyond Dex reward systems are structured, for the weekly rewards pool and the yearly rewards pool? How is the redemption fees and the exclusive high APY implemented for the early birds?
Beyond Mainnet launch 1.0 took place August 11th, also you have tentatively announced that Mainnet Layer 2.0 launch is scheduled for December 8th. What is the reason for this proposed upgrade and it’s advantages? What are the difference between the two of them? Are you going to be deploying new products and features with the launch of the Layer 2.0? if yes what feature/product?
I found out in the 4th quarter or Phase 4 of your roadmap that you are going to launch a BeStarter Launchpad. So,can you give us an advance idea or information about your BeStarter Launchpad? What kind of projects are you welcoming to be launch in your launchpad? How would you choose or screen project to be launch in BeStarter Launchpad to ensure the legitimacy of the project? Does $BYN holders will get a priority lane to be whitelisted in your launchpad?As you integrate launchpad in your platform,what can we expect as changes and development of Beyond Finance network in the 4th quarter of 2021? Thank you
Beyond Finance is very good, but I see only one lack, you depend from Ethereum, so you’re target of high fees, so do you have any plans to prevent this? Will you increase other chains of 2 layer solutions?
I realized that you have your own Stablecoin with their own use cases called USDb, so can you please speak us a little bit about this Stablecoin, what can be done with this token?
Greetings Beyond, how to start on your platform, from scratch, what is the difference between your project and many that exist with the same characteristics, which makes it different from decentralized DEFI projects. is combining synthetic assets and DeFi, but what is the strategy for this function. What would be the minimum investment to start, where can I have access to BYN tokens and what would my profit be in the protocol if I bet BYN token?
is $BYN can be track the price of Gold? i don’t get it about what underlying BYN have? is underlying about bitcoin?
BEYOND have a plan to make any synthetic about currencies, my question is do you have a deal with any country?, do you have a plan to make underlying with Gold? because gold really effective for underlying $BYN
Hello Beyond, my question is: how would the functionality of Beyond sinthetics, how can users create a synthetic product? What function does the Beyond BYN token fulfill in synthetic products and how is it used within the platform, what is the guarantee index? Explain us about these functions to get to know the project better
$BYN made some synthetics about Fiat currency and crypto’s price, I just wondering how do you adjust the price you have synthesize according to the underlying price? example price of ETH have a little different price in every exchanger ETH = ETHb
How does Beyond have or intend to include the planned categories of synthetics, to begin with the commodities and their derivatives, followed by the currency changes (synthetic currencies)? Is this the whole list of synthetics or do you hope to include more in the future? tell us about these points as the community will be interested in knowing them better. Thank you
There have been a lot of reports lately of users not being able to log on to your website, also ETH transfers not turning up in your Beyond wallets. You also admitted that there are address having wallets problems which you said the dev team are on it. So have these issues been resolved? Have the cause been known? Did this in anyway have any impact on your project? How are you going to ensure such issues do not reoccur to ensure safety of your ecosystem?
I am curious about Beyond project by seeing amazing partnerships such as TITANS VENTURES, STAR CAPITAL, MASTER VENTURES etc.. Most of them are venture & investing platforms. So Do they invest on Beyond platform or will this partnerships be only for gaining more exposure to Beyond project? What are the benefits, you claim through these partnerships & What will you give them back as a consideration on them? What are the main goals of Beyond platform, you hope to achieve along with these partnerships? Will there be more strategic partnerships in future?
In order to access for the synthetic assets, users Can choose Loan feature within Beyond DEX. In here instead of our ETH or USDT, we can borrow ETHb or USDb. But what are the real benefits of ETHb & USDb? Can I trade them on Your Dex? How much will Users keep as a collateral for borrowing 1 ETHb or 1USDb? What is the interest rate for both ETHb & USDb Currencies? Is there specific consolations for those who involve in Loans in Beyond Platform?
I went through Beyond Mainnet 1.0 & the interface is looking good. And I saw, “Stake $BYN and Earn Rewards “. Can you provide more details about this staking program?
So how will I join to stake $BYN? Where Can I buy $BYN Currently, Can I buy directly through your platform? What are the incentive offers, you promise for $BYN stakers?
It is known that worldwide over time, attempts have been made to do business with synthetic assets that have not progressed satisfactorily. What is the indicator that will make the difference between Beyond and the previous projects that have failed?
It can be traded through the bet with tokensBYN, but it is an important factor to know: How will the value of the tokensBYN be established?
It is explained that there will be a profit in terms of profits when trading with tokensBYN, what will be the percentage of that profit?
Already most of the coins are successfully launched at same concept and use case so how do you succeed while already is doing alot of projects are doing is same concept and use case and what is your unique value proposition that increase your successful chances?