NBX PriceBYN

What is NBX (BYN)?

NBX (BYN) is the native digital asset of a decentralized finance platform that evolved from BeyondFi (also known as Beyond Finance). BeyondFi has rebranded to NBX, as stated in the project's official announcement. NBX operates as a decentralized synthetic product trading platform where users can create and trade synthetic financial products. The platform is designed to enable the creation, access, and trading of unlimited markets without restrictions, supporting the core mission of unlocking the true potential of DeFi. It facilitates exposure to digital assets across various sectors including NFTs, synthetics, derivatives, fund and asset management, and more, catering to both retail and institutional interests in DeFi. BYN is an ERC-20 token built on the Ethereum blockchain, with a maximum supply of 100,000,000 tokens. The circulating supply is approximately 8,863,175 BYN, representing about 8.86% of the maximum supply. The project launched in December 2020, was listed on CoinMarketCap on 6 April 2021, and began trading on 14 April 2021. NBX provides DeFi services and products including a decentralized exchange, liquidity solutions, and synthetic asset trading.

Key Specifications & Tokenomics

• Name: NBX (formerly BeyondFi / Beyond Finance)
• Symbol / Ticker: BYN
• Blockchain / Platform: Ethereum (primary ERC-20 contract 0x4bb3205bf648b7f59ef90dee0f1b62f6116bc7ca); also deployed on Polygon (0x11602a402281974a70c2b4824d58ebede967e2be).
• Token Standard: ERC-20
• Smart Contract Address: 0x4bb3205bf648b7f59ef90dee0f1b62f6116bc7ca; Polygon: 0x11602a402281974a70c2b4824d58ebede967e2be (polygonscan.com).
• Decimal Places: 18
• Category: DeFi; Blockchain Service
• Max Supply: 100,000,000 BYN
• Total Supply: 100,000,000 BYN
• Circulating Supply: Approximately 8,863,175 BYN
• Initial Circulating Supply: 3,500,000 BYN; offering price: $0.50 (per AscendEX).
• Official Website: https://nbx.exchange/
• Whitepaper: https://beyond-finance.gitbook.io/beyond-finance/
• Source Code: github.com/Beyond-Trade
• Telegram: t.me/beyondfinanceglobal
• Discord: discord.gg/Wne3ANfDdh
• X: twitter.com/NBX_official
• CoinMarketCap ID: 9134
• Launch Date: December 2020 (project launch); CoinMarketCap listing 6 April 2021; trading began 14 April 2021

Who created NBX?

The founding team behind the NBX (BYN) token is not identified in the project's public materials; the project is the rebranded BeyondFi/Beyond Finance. A separate entity also called NBX is the Norwegian Block Exchange, founded in 2018 by Bjorn Kjos; it is not confirmed to be the team behind the NBX (BYN) token.

How does NBX work?

NBX operates as a decentralized synthetic product trading platform built on the Ethereum blockchain. Users can create and trade synthetic financial products, gaining exposure to various asset classes without holding the underlying assets directly. The platform supports the creation, access, and trading of unlimited markets without restrictions. It encompasses a decentralized exchange, liquidity solutions, and derivative trading capabilities. The BYN token functions as an ERC-20 utility token used for staking and providing liquidity within the ecosystem. Additionally, BYN holders earn governance rights, allowing them to participate in decision-making processes related to the platform's development and operations. The platform aims to democratize access to financial products that were previously less accessible, serving both retail and institutional participants in the DeFi market. On-chain trading for BYN is concentrated in Polygon liquidity pools such as BYN/WPOL on Quickswap and BYN/WPOL and BYN/WETH on Uniswap V3 (Polygon).

What makes NBX unique and valuable?

NBX distinguishes itself through its focus on synthetic asset creation and trading, enabling users to access unlimited markets without restrictions. The platform's comprehensive approach covers multiple DeFi sectors including NFTs, synthetics, derivatives, and fund/asset management, providing a versatile suite of financial instruments and services. The project's evolution from BeyondFi to NBX demonstrates adaptability and a commitment to innovation. With governance rights granted to BYN holders, the platform promotes community-driven decision-making. The platform's mission to unlock the true potential of DeFi and empower millions of users by democratizing access to financial products represents its core value proposition, as described in the project's whitepaper (beyond-finance.gitbook.io/beyond-finance). NBX aims to bridge traditional finance concepts with decentralized technology, offering tools that cater to both retail and institutional interests in the DeFi space.

What is NBX used for?

The BYN token serves multiple functions within the NBX ecosystem. It is primarily used for staking and providing liquidity, allowing holders to participate in the platform's operations and potentially earn rewards. BYN holders also earn governance rights, giving them a voice in the platform's decision-making processes. The token facilitates engagement with a variety of financial instruments and services available on the platform, including synthetic assets, derivatives trading, NFTs, and fund/asset management. As an ERC-20 token on Ethereum, BYN can be transferred, stored, and traded across compatible wallets and platforms. The token's utility is deeply integrated with the platform's mission of providing comprehensive access to decentralized finance services and unlocking the true potential of DeFi for users worldwide.

How Is the NBX ecosystem developing?

The NBX ecosystem encompasses a range of DeFi products and services including a decentralized exchange, liquidity solutions, synthetic assets, derivatives trading, NFTs, and fund/asset management. The project lists 18 backers. Its private round raised $7.5M on 22 March 2021, and DropsTab records total funds raised of $8.18M. Notable backers include A195 Capital, Consensus Capital, MV Global, Fairum Ventures, Gains Associates, Dutch Crypto Investors, Rarestone Capital, DuckDao, X21 Digital, Titans Ventures, Moonwhales Ventures, ExNetwork Capital, Avstar Capital, Mayor Capital, Phoenix Crypto VC, GD10 Ventures, BBS Finance, and Pluto Digital. Public sales were conducted on platforms including Zendit, DuckStarter, PAID Ignition, and PolkaBridge in April 2021. The project continues to develop its ecosystem with a focus on synthetic product trading and comprehensive DeFi services. Community engagement occurs across platforms including X (Twitter), Medium, Reddit, and Telegram.

How to mine NBX?

NBX (BYN) is an ERC-20 token on the Ethereum blockchain and is not mined through traditional proof-of-work mechanisms. BYN is not mined. All 100,000,000 tokens were created at issuance and distributed through seed, private and public sale rounds; holders can earn additional BYN only through staking and liquidity provision on the platform. For users looking to earn BYN, the primary method is through staking and providing liquidity on the NBX platform. Staking involves locking up BYN tokens to support network operations and potentially earn rewards. Liquidity provision involves supplying assets to liquidity pools on the platform's decentralized exchange. The vesting schedule for various rounds includes seed and private round allocations with 15% at TGE and 15% quarterly, while the public round was 100% unlocked. Team and advisor allocations follow a 12-month cliff with 25% quarterly vesting thereafter. Unlocks began on 13 July 2022 with 15% of the private round and 15% of the seed round; team and advisor allocations began unlocking on 13 October 2022 after a 12-month cliff.

How to keep your NBX Coin safe?

To keep your NBX (BYN) tokens safe, use reputable ERC-20 compatible wallets that support Ethereum-based assets. Hardware wallets provide the highest level of security by storing private keys offline, protecting against online threats. Software wallets and mobile wallets offer convenience but should be used with strong, unique passwords and two-factor authentication where available. Always verify the official contract address (0x4bb3205bf648b7f59ef90dee0f1b62f6116bc7ca) when interacting with the token to avoid counterfeit versions. Do not share your private keys or seed phrases with anyone; legitimate support staff will not ask for them. When using decentralized exchanges or DeFi platforms, ensure you are interacting with official, verified interfaces. Keep your wallet software updated and be cautious of phishing attempts and suspicious links. For long-term holding, consider cold storage solutions. Regularly review your security practices and stay informed about potential threats in the DeFi ecosystem.

Risks and uncertainties

BYN is a volatile digital asset, and its price can fluctuate significantly over short periods. Regulatory treatment of DeFi platforms and tokens varies by jurisdiction and may change, which could affect access to or the operation of the platform. Technical risks include smart contract vulnerabilities, the possibility of exploits in connected protocols, and the reliance on the Ethereum and Polygon networks. The information above reflects the project's public materials and should not be treated as a guarantee of future performance.