Lithium Finance Partners With Beyond Finance to Provide Data to Price Private And Illiquid Assets
- Beyond Finance will be one of the Wisdom Seekers in the Lithium ecosystem, and Lithium will be the designated oracle for pricing synthetic private assets in Beyond.
- With regularly updated pricing data from Lithium, Beyond will be able to create synthetic private assets for trading, such as synthetic SpaceX or Stripe.
- The Lithium — Beyond partnership will lower the access barriers of private assets for the DeFi public, thereby opening doors for bringing more real assets into DeFi.
Lithium Finance is delighted to announce the partnership with Beyond Finance, a next-generation decentralized synthetic exchange. The partnership will let Beyond join a growing list of DeFi projects and institutions as one of the Wisdom Seekers looking for pricing information on private and illiquid assets. With data from Lithium, Beyond will be able to create synthetic products that can track the price movement of private assets accurately and promptly, while allowing for worldwide participation and price discovery.
Wisdom Seeker is a critical part of the Lithium ecosystem. They use LITH — the native token of Lithium — as a bounty to seek accurate pricing information. At the same time, Wisdom Nodes receive LITH as a reward when they can provide accurate answers quickly. These interactions between Wisdom Seekers and Wisdom Nodes are the essence of the DMI Mechanism, which Lithium relies on.
Bridging the real asset world to DeFi has been a long-debated topic. This collaboration could set an excellent example of how to bring real asset exposure into the DeFi space by lowering access barriers of private assets for all the DeFi users.
David Lighton, Co-founder of Lithium Finance, explained that
“While many other oracles have been focusing on bringing pricing data of liquid assets into DeFi, Lithium sets its focal point on private and illiquid assets. We believe that’s where we can bring real assets into DeFi. We are glad that the Beyond team shares the same perspective, and together we will be able to bring new opportunities to the broader DeFi world.”
Jeremy Park, Head of Business for Beyond Finance, comments that
“The timing could not have been better. Even after releasing our mainnet, we were already looking at exploring other markets to offer to our community. Lithium will now play a key role for Beyond and its users to obtain and discover new illiquid private markets, otherwise thought inaccessible in a decentralized manner. This partnership will fundamentally start a movement to bring inaccessible valuation data for Beyond’s users, to price the unpriced, thanks to Lithium’s unique mechanism of being a collective-intelligence pricing oracle. We look forward to collaborating with Lithium in bringing further unlimited markets into our decentralized network.”
About Lithium Finance
Lithium Finance is the first collective-intelligence pricing oracle to give precise and timely pricing on private, illiquid assets. It rewards analysts who provide truthful information and punish those who offer false pricing data. As a result, Lithium’s users obtain pricing for all hard-to-value assets such as pre-IPO stocks, private equity, and other illiquid assets effectively.
About Beyond Finance
Beyond is a decentralized platform for creating and trading synthetic financial products designed to suit the needs of the synthetic creator. These synthetic products can be made to track prices of underlying assets, such as currencies, commodities, stocks, exchange-traded funds and more. Each synthetic product can be made to represent $1 or more complex products, such as leveraged/inverse ETFs. These synthetic products are governed by the Beyond protocol and collateralized by BYN tokens. Deep liquidity is created for synthetic products through our automated market maker that is built on our protocol. Bid/ask orders can also be used on the trading interface for controlled trading orders. BYN token holders are incentivized to stake and provide liquidity to the synthetic products, as it allows the token holders to be rewarded with additional BYN tokens.