FAQ

This page will be updated to reflect the common questions of the community.

  • Is the BETA token available for purchase?

The token is available for trading on Binance currently. Binance is the only exchange Beta Finance has officially partnered with.

  • How do liquidations work? What is the maximum amount of debt you can liquidate in a single transaction?

When a user's LTV passes the liquidation threshold for the token, the position can be liquidated by repaying the debt, and the liquidator will receive a premium payout from the collateral. The liquidate function in the BetaBank contract limits the amount to 50% in a single transaction.

  • What is utilization?

Utilization is the percentage of total available lended capital being actively borrowed in a pool. E.g. a $100,000 USD pool of $BETA with 60% utilization means $60,000 is currently being borrowed and $40,000 is available for borrowing.

  • What wallets do you support on Beta Finance?

Currently, we support MetaMask and WalletConnect. We will work towards supporting more popular wallets in the future.

  • What are your official social media channels?

Our official channels are linked here: Medium, Discord, Twitter, Telegram (community) (announcements). All other groups claiming to be Beta Finance are not affiliated.

  • Is there a lock up for my lended tokens?

Nope! Users are able to deposit and withdraw tokens to any pool at any time. However, if the utilization of the lending pool is 100%, then you will be unable to withdraw tokens until the utilization decreases. See Liquidity Risks for more details.

  • What are some of the different ways I can use Beta Finance?

We've written an article here highlighting some interesting DeFi strategies users can try with Beta Finance. We're eager to see the creative ways the community is able to come up with, and we would love to highlight these. If you want to share please send an email to contact@betafinance.org.

  • I want to join Beta Finance, who should I speak to?

Awesome! We're actively hiring, so please send your resume to hiring@betafinance.org

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