NBX PriceBYN

What is NBX (BYN)?

This article covers the NBX (BYN) token (CoinMarketCap ID 9134), the BeyondFi/Beyond Finance project rebranded to NBX. It is unrelated to NBX (Norwegian Block Exchange), a separate Norwegian crypto exchange founded in 2018 by Bjorn Kjos.

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 with contracts on Ethereum and Polygon, 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 April 6, 2021, and trading began on April 14, 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); Polygon
• Token Standard: ERC-20
• Smart Contract Address: Ethereum: 0x4bb3205bf648b7f59ef90dee0f1b62f6116bc7ca; Polygon contract: 0x11602a402281974a70c2b4824d58ebede967e2be (Polygonscan)
• 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)
• Holders: Approximately 7.88K addresses (per CoinMarketCap)
• Official Website: https://nbx.exchange/
• Whitepaper: https://beyond-finance.gitbook.io/beyond-finance/
• CoinMarketCap ID: 9134
• Launch Date: December 2020 (project launch); CoinMarketCap listing April 6, 2021; trading began April 14, 2021

Who created NBX?

There is no reliable public information regarding the specific founder or founding team behind the NBX (BYN) token project. A separate entity also named NBX is the Norwegian Block Exchange (NBX), a Norwegian crypto exchange founded in 2018 by Bjorn Kjos; it is not confirmed to be the team behind the NBX (BYN) token. The project evolved from BeyondFi and was rebranded to NBX, 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. The platform has been described as a zkRollup-powered DeFi platform supporting swap, stake, farm and automated routing. 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. BYN is an ERC-20 utility token used for staking and liquidity provision; the project's public materials do not specify the source of staking or liquidity rewards, so holders should verify reward mechanics on the official platform before participating. 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.

Note that BitDegree marks NBX (BYN) data as 'Untracked' due to inactivity or insufficient data, and DropsTab lists the sentiment as Bearish; readers should treat platform activity claims with caution.

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 raised $7.5M in its private round (March 22, 2021), with a seed round of $300K; 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 ran on DuckStarter ($150,000 hard cap), PAID Ignition ($150,000 hard cap) and PolkaBridge ($30,000 hard cap) on April 12, 2021, and on Zendit ($50,000 hard cap) on April 14, 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. Seed and private round allocations vest at 15% at TGE and 15% quarterly thereafter; the public round was 100% unlocked at TGE; team and advisor allocations have a 12-month cliff followed by 25% quarterly vesting. Token unlocks began on July 13, 2022 (15% of private round and 15% of seed round), followed by further unlocks on October 13, 2022 and January 13, 2023 for private, seed and team/advisor allocations. BYN trades on Polygon DEXs including Quickswap (BYN/WPOL) and Uniswap V3 (BYN/WPOL and BYN/WETH), per DropsTab.

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.

As with any digital asset, BYN's price is subject to market volatility, and the value of holdings can rise or fall. Regulatory treatment of DeFi platforms and tokens may change across jurisdictions, which could affect access or operations. Smart contract and platform risks, including bugs or exploits, remain possible. These points are presented for awareness and should not be read as predictions or as investment advice.