AscendEX, formerly BitMax, an industry-leading digital asset trading platform built by Wall Street quant trading veterans, has announced the listing of the Beyond Finance Token (BYN) under the pair USDT/BYN on April 20 at 1:00 p.m. UTC.
Beyond Finance is a synthetic asset trading platform that brings investment opportunities in traditional financial assets to everyone with a permissionless financial service ecosystem leveraging blockchain infrastructure. Aiming to be a leading exchange, Beyond Finance seeks to deliver a seamless and user-friendly service with a competitive UI/UX with gamification experience to make it easy and compelling to trade.
Beyond Finance will adopt a Layer 2 solution for enhanced scalability. Initially, it will be launched with an on-off chain hybrid solution, and it will then migrate to a fully operational Layer 2 solution.
BYN token’s primary function is to collateralize USDb stable coin and Beyond Finance’s synthetic assets. Users can stake BYN tokens and mint USDb stable coins. With the minted USDb, users can choose to invest in various synthetic assets such as TSLAb, OILb, GBPb, and more. BYN can also be used as the primary reward for all platform activities – such as staking rewards, LP rewards, and trading fee rewards. Also, users will use the BYN token for participation in DAO through BIPs. Users can decide on key matters of exchange operations, such as adding new trading pairs, fee structure, and new functionalities through the voting.
About AscendEX
Originally founded in 2018 as BitMax.io, AscendEx is a leading crypto and digital asset financial platform catering to both professional and retail traders. Our venue offers spot, futures, margin trading and staking products and incorporates key elements from the DeFi space to foster a unique market structure for users. AscendEx is led by a team of Wall Street veterans who have applied traditional markets’ rigor to create a robust, secure, and reliable experience for all participants; and a consistent source of liquidity for primary offerings.
Beyond Finance is a synthetic asset trading platform that brings investment opportunities in traditional financial assets to everyone with a permissionless financial service ecosystem leveraging blockchain infrastructure.
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