August 18th will be a big day for both the Alpha Finance and Beta Finance communities! In addition to the BETA lock-up period for ALPHA stakers starting on August 18th, Beta Finance will also be launching Phase 1 of their product on Ethereum on the same day!
For users that have missed out on our earlier announcements, Beta Finance is the first project to be incubated by Alpha Launchpad. It is a permissionless money market protocol for lending, borrowing, and shorting crypto assets.
Launching at the right time in the midst of market volatility, Beta Finance aims to offset crypto volatility and bring about market stability with its 1-click short selling feature. At the same time, holders of any crypto assets will be able to create their own money market and gain lending interest rate from the permissionless money market functionality on Beta Finance.
Beta Finance will be launching in 2 phases on Ethereum, with the majority of the key functionalities already available in phase 1.
In Phase 1, users will be able to lend, borrow, and short assets on Beta Verified Markets, which are markets that Beta has evaluated and deemed safe for users to interact with. Users that interact with these Beta Verified Markets, whether through lending, borrowing, or short selling will be receiving significant BETA rewards, which will be distributed retroactively once the token is launched.
In Phase 2, users will be able to create any money market in a permissionless way and carry out the same functions outlined above on any available markets.
Though BETA tokens will not be live when Beta Finance launches its phase 1, a significant amount of retroactive rewards will be distributed to early users of Beta Finance.
For more information on the launch and how to lend, borrow and short crypto assets, view the full announcement from Beta Finance here.
Counting Down To BETA Lock-up Period for ALPHA Stakers
August 18th, 2PM UTC marks the beginning of when BETA lock-up period will start for ALPHA stakers. This means anyone who stakes ALPHA since that time will receive BETA tokens.
This is also the first of many quality projects that will be launching under Alpha Launchpad, and ALPHA stakers can look forward to many more projects in the future.
For those who want to receive BETA tokens but have yet to stake ALPHA, you can simply stake here!
For more information on BETA distribution to ALPHA stakers, view our past announcement here.
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