HECO AMA Series Recap — Beyondfi
Q&A — Segment I
Q1:Could you tell us more about your project? In other words, what does Beyondfi do?
A1:Beyondfi starts as a Decentralized Synthetic Asset trading platform. We are now expanding to be a world leading platform for every digital assets by utilizing different layers. We are expanding to different protocols such as Game Fi, NFTs and launchpads as well.
Q2: There are many similar out there, some have been quite successful. What is special about Beyondfi compared to other projects?
A2:: Hmm. First, we have a lower entry, user friendly structure of collateralization.
The other main difference would be the flexibility of expansion for not only assets but of other areas of this whole blockchain industry.
So I guess in essence, we wanted to sacrifice profit for user growth, regardless of “classes” so to speak
Q 3: Great, could you give us some info on the BYN Token?
A3: the BYN token is both the native and governance token on our platform. As additional products are added, we will utilize the same BYN token.
So not only will it be utilized for deciding protocol changes within our DEX, but be used with other products and projects that we are partnering with or incubating
Q4:What would be one’s motive to hold BYN tokens? What can we do with $BYN?
A4: As mentioned above, currently BYN is used to trade and gain exposure to synthetics assets via our DEX.
BYN is deposited as collateral, allowing one to trade various assets within our platform.
We have invested into several other projects where BYN will also have utility value.
These other projects will be announced soon, but vary from stablecoin amm, LPs, launchpad, NFT gaming & more.
Q5:What is the roadmap for 2022?
A5: The roadmap currently is as follows:
Q1 2022 — Heco Mainnet (layer 2)
Q1 2022 — Revamp of DEX (UI/UX)
Q2 2022 — Launch of Multi-chain DEX with products related to Defi, NFTs, Yield Aggregation and more
Q3 2022 — Gamification
Q6: Why did you choose HECO as the first Layer2?
A6:HECO stands for everything that our protocol is about. Easy low-barrier access, decentralized, energy-saving public chain that is also highly efficient and is low fee-oriented.
Q7: If you were to summarize your project in 1 word, what would it be? Why?
A7: Congratulations. because this is what you would be hearing from others, friends, work colleagues etc etc.. whether your an investor, holder, community member, new user, advisor, partner, team, airdrop winner…
Q8:How do you guarantee users’ asset security?
A8: We believe guaranteeing anything in this space can be misleading.
However guaranteeing that all security measures have been thoroughly anayzled, implemented and executed is a must. besides multiple audits from Certik, and repeated penetration testing from security advisors and partners, we have always raised security as priority number 1.
THIS WAS not only a focus given by my fellow co-founders, we have made sure that no security breaches occurred til now and will continue to do so, relentlessly.
Q9: Awesome. Anything else you guys would like to add before we go into the live questions session?
A9: Would like to add that we are about to launch on HECO very soon! We have some amazing incentives for new users and early users so stay tuned!!
HECO Chain is a decentralized, high-efficiency, and energy-saving public chain, and the first product launched on the HECO Chain Open Platform. On the basis of supporting high-performance transactions, the compatibility of smart contracts is realized. HECO Chain’s native digital asset is HT, which uses the HPOS consensus mechanism.
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