Press Release

Beyond Finance is proud to announce a new first-of-its-kind strategic investment from Huobi Ventures — a partner, supporter and industry driver within the decentralized finance space. 

This partnership is special, in that Beyond Finance is the first project to receive a multidimensional deal that will initiate investment, active support, strategic partnerships and advisory services from Huobi Ventures and Heco Fund. 

Lukas Ziegler from DuckDAO said:

“Beyond Finance's success in navigating the industry post-initial DEX offering has been phenomenal, as evidenced by the introduction of Huobi Ventures into its ecosystem of partners and investors. Synthetic assets in crypto are still being discovered and Beyond Finance is at the forefront of these efforts to find the best ways synthetics can be used to deliver value to the industry at large.”

Huobi Ventures joins other institutional investors backing Beyond Finance such as DuckDAO, Spark Digital Capital, Consensus Capital, GBIC, Blocksync, Moonwhale Ventures, Master Ventures, GAINS Associate, X21 Digital and OKEx Blockdream Ventures.

“Beyond Finance has one of the coolest user-friendly synthetic DEXs. We saw huge potential at the early stage and we made our investment. Having tested the Beyond beta testnet, I'm confident that Beyond Finance will shake up the synthetic space, and having secured the strategic investment from Huobi Ventures says it all. Keep an eye on Beyond Finance,” said Kyle Chasse, founder of Master Ventures.

Huobi Ventures recently announced a $100 million fund dedicated to DeFi projects under its newly consolidated investment arm. The fund will also be used in the areas of strategic merger and acquisition, strategic investment, asset management and ecosystem building. Huobi will assist and advise Beyond Finance in creating a user-friendly decentralized synthetic asset platform. 

After growing by 88 times in a year, it seems that the growth of the DeFi ecosystem will continue. Now a sector worth $100 billion, more and more reputable firms and top global exchanges are announcing “funds” to aggressively incubate strong projects that show potential. This deal between Beyond Finance and Huobi signifies this movement, as several top-tier exchanges look to expand their portfolio within DeFi. 

Beyond Finance’s solution in offering a “multidimensional, easy-to-use and -learn user experience” was one of the main strategies that attracted Huobi Ventures to commit a strategic investment. 

“In fact, a lot of similar projects in DeFi reached out to us, but Beyond Finance stood out to us as it was clearly different from them,” explained Loki Zeng from Huobi Ventures.

“We see huge potential for synthetic assets within the DeFi space. The strategies in place such as a layer-two solution, hybrid risk management and user experience are reasons why we backed Beyond Finance early. We see Beyond Finance as a platform that can offer functionalities addressing current weaknesses in this market. We are happy to support the team and look forward to its launch,” said Alex M, managing partner of Cryptomeria Capital.

Additionally, notable strategic partnerships have been formed in several key areas to allow Beyond Finance to launch a consumer-friendly synthetic asset platform within the DeFi space. The Heco ecosystem (including its users) will also benefit from the partnership.

  • Heco users will be able to access Beyond Finance through the integration of Huobi wallet and Heco Chain (Beyond Finance’s hybrid roll-up). 
  • Introduction of Huobi’s first synthetic HT token (HTb) on the Beyond Finance Platform.
  • Exclusive staking program benefits for Heco users.

Kenneth Moon, co-founder and chief procurement officer at Beyond Finance, said:

“It is without a doubt that retail interest in synthetic assets has been growing exponentially at a phenomenal rate. We are excited and grateful that Huobi joins us as we look to enter the market with our consumer-friendly platform expanding the synthetic DeFi ecosystem. Our partnership opportunities will ensure Beyond Finance becomes a leading decentralized synthetic asset trading protocol.”

About Huobi Ventures and Heco Fund

Huobi Ventures is committed to further expanding the boundary of investments, mergers and acquisitions of Huobi in the world, focusing on emerging areas with future significance such as DeFi and nonfungible tokens from a strategic level. This will allow Huobi Ventures to further assist the development of the blockchain industry through global expansion and gather ecological advantages around the upstream and downstream investment of the industry.

Heco Fund is one of the special funds of Huobi Ventures, which is mainly used to support the development of high-quality projects on the open platform and ecological chain of Huobi. At the same time, Heco Fund will integrate various resources to support the development of decentralized applications in the Heco ecology as much as possible, and provide the best support for the growth of DApps by relying on the resources and flow accumulation of Huobi. It will also provide professional marketing support, roadshow support and ecological support for Heco's ecological projects.

About Beyond Finance

Beyond Finance 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 Beyond Finance tokens (BYN). Deep liquidity is created for synthetic products through our automated market maker that is built on our protocol. Bid or 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.

Media contact: media@beyondfinance.io

Website: https://beyondfinance.io/

Medium: https://medium.com/@bfinance

Litepaper: https://beyond-finance.gitbook.io/beyond-finance/litepaper/abstract

This is a paid press release. Cointelegraph does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to the company. Cointelegraph is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.

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