Beta Finance

Beta Finance, now Omni Finance is a decentralized money market on the Ethereum blockchain, offering a versatile platform for borrowing, lending, and shorting various crypto assets. Beta Finance is permissionless, unlike traditional finance, allowing users to seamlessly access and list tokens while also enabling short positions on these assets. The platform plans to integrate more options and explore additional L1 and L2 solutions in the future. Users have options to lend, borrow, and short. Users can lend crypto assets for any market that exists on Beta Finance and earn interest on it. There is a provision to borrow as well, while short-sellers can use collateral to initiate short positions.

BETA provides options for lending, borrowing, and shorting, catering to a diverse range of user preferences while being permissionless which is an advantage compared to traditional finance.

Beta Finance avoids reliance on centralized order books by utilizing decentralized exchanges and automated market makers.

BETA enables users to tailor their lending strategy using stablecoins. Using this protocol, users can also borrow with any collateral type.

BETA is down 98% from its ATH as of Jan 2024 indicating the volatile nature of the coin.

As per Coinmarketcap, more than 76% of the maximum supply is in circulation as of January 2024.

The decentralized nature and multiple features of Beta Finance may have a steeper learning curve for newcomers to the cryptocurrency space.

One should research fundamentals and the protocol's roadmap as it gives the user an idea about the protocol's activity.