Beta Finance Beta Price USD

Beta Finance is a money market on Ethereum that lets people borrow, lend, and sell crypto assets without permission. It gives users access to a money market that is scalable and easy to use. Tokens can be listed automatically and without permission, and users can short these tokens. After the launch of Ethereum Mainnet, Beta Finance plans to launch on more layer one and layer two solutions.

Users can lend, borrow, or sell something they don't own. Lenders will be able to loan crypto assets to any Beta Finance market and earn interest on them. Borrowers can take the opposite position, and short sellers can start short positions with collateral. Beta Finance doesn't use an order book to execute shorts like centralised exchanges do. Instead, it sends the trade through decentralised exchanges that use automated market makers. The platform plans to release permissionless money market creation as part of its Phase 2 launch.

Allen Lee, who went to MIT and worked as a software engineer at Microsoft and Facebook before starting Beta Finance, was the one who came up with the idea. It is also backed by a group of well-known investors, such as Spartan Group, ParaFi Capital, Multicoin Capital, DeFiance Capital, and Delphi Digital. Anjan Vinod of ParaFi Capital liked how Beta Finance focused on new assets, had a separate model for collateral, and planned support for multiple chains. Gabriel Tan of Spartan Group was also optimistic. He said that Beta Finance is an up-and-coming permissionless money market that is set up to do well in the market.