Beta Finance December Newsletter
Happy New Year! 2021 moved at a whirlwind pace for Beta Finance. We’re innovating, building, and bringing you along with us every step along the way.
Welcome to a quick rundown of how we’ve been keeping ourselves busy this past December.
Beta Finance x Avalanche
We’re excited to announce that Beta Finance will deploy on the Avalanche network in early Q1 2022! We have been working towards launching the protocol on the Avalanche chain. This marks the start of becoming a multi-chain protocol that is the hub for liquidity and short selling. We have also been working on scaling our infrastructure for multichain expansion.
The upcoming Avalanche integration will open the door to new projects and tokens that can be listed on Beta Finance. We’re working towards becoming the one-stop shop for all crypto money markets, including the long-tail of volatile assets. New partnerships with Avalanche projects and the listing of new Avalanche tokens on Beta Finance will open our users up to exciting on-chain trading and hedging strategies within the Avalanche ecosystem.
Beta Finance x Index Coop
Our partnership with Index Coop began at the end of November, and over the past month we have seen growth of over $2MM+ in TVL across the partnered markets. In addition to DPI, MVI, BED, and ETH2x-FLI, we have additionally listed the INDEX token on Beta Finance. Beta Finance is the only money market protocol available for INDEX holders to lend their tokens out to borrowers. All Index Coop token markets are incentivized with joint LM rewards, meaning users can transform long positions into active yield-generating positions by lending, borrowing, and shorting on Beta Finance.
We’re always on the lookout for new partnerships that affords the Beta Finance community new opportunities to bolster their capital efficiency while gaining exposure to new investing strategies. Learn more about index tokens, portfolio diversification and risk-neutral strategies here.
Liquidity Mining on Beta Finance
Our 12-week joint LM program with Index Coop began on November 24, 2021 and will last until February 16, 2021. There are additional incentives available for those who lend, borrow, and short Index Coop tokens, such as DPI, MVI, BED, ETH2x-FLI and INDEX. Yields have been consistently above 20%+ for lenders of these tokens.
Our 2nd BETA/ETH Uniswap V3 Staking Incentives Program is scheduled to end on Jan. 7, 2022. Participants should go to their staked positions on the DApp and click “Unstake to claim reward” to lock in rewards before Jan. 7. For further information on why to unstake prior to the end of the program, see the “Fuzzy Cutoffs” section on this blogpost.
We’ll also be launching the first LM period for our newly minted Avalanche money markets in Q1 2022. The team wants to know which reward distribution mechanism users prefer as we work on completing the BETA token bridge. Let us know by taking 30 seconds to fill out this survey!
As a reminder, our LM periods are consecutive and each span two weeks. Rewards are claimable one week after the LM period ends and will become “Claimable” on the “Positions” page on the DApp.
Wrapping Up
That’s it for this month’s installment!
With the year-end right around the corner, our team is focused on finalizing our roadmap to scale Beta Finance the coming year.
We’ll continue to keep the community updated through our socials, so be sure to follow us on Discord, Twitter, and Telegram!
We are hiring!
Beta Finance is looking to expand our team and is actively hiring. If you are passionate about DeFi and excited to build the next generation of infrastructure for DeFi, we’d love the chance to learn more about you! Please see our job opportunities here.
