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). The project was rebranded from Beyondfi to NBX in 2022. 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 initially launched in 2020, with public sales and listings occurring in 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 (ETH)
• Token Standard: ERC-20
• Smart Contract Address: 0x4bb3205bf648b7f59ef90dee0f1b62f6116bc7ca
• 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
• Official Website: https://nbx.exchange/
• Whitepaper: https://beyond-finance.gitbook.io/beyond-finance/
• CoinMarketCap ID: 9134
• Launch Date: 2020 (project launch); CoinDesk lists 2021-04-13

Who created NBX?

There is no reliable public information regarding the specific founder or founding team behind the NBX (BYN) token project. A separate corporate entity named "NBX Corporation" lists Alex Laats as a founder and former Co-Founder & Chairman, but this is a distinct corporate entity and is not confirmed in available materials as the team behind the NBX (BYN) token. The project evolved from BeyondFi and was rebranded to NBX in 2022, demonstrating a commitment to innovation and accessibility in the digital asset space. Detailed public information about the core team is currently limited.

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.

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. 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 has attracted backing from 18 investors across private, seed, and public rounds, raising a total of $7.5M. 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. Instead, tokens were distributed through private, seed, and public sale rounds. 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. Token unlocks have occurred periodically since July 2022.

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. Never share your private keys or seed phrases with anyone. 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.