We are proud to announce that Beyond Finance has completed the first IDO on PolkaBridge successfully on April 13 after releasing new contract. The fundraising target was met in the exclusive private pool and the BYN tokens have already been distributed to the participant’s wallets. This is a historic milestone for us, as we look forward to providing many such early stage investment opportunities to our PBR token holders and the PolkaBridge community.
As per Beyond Finance requirements, 30.000 BYN tokens were offered for sale to 500 whitelisted addresses at a rate of $0.5/BYN. Each address was limited to $100 purchase, a cap which was later lifted to facilitate people to buy more, in light of the huge demand and community demand. A total of 13.95 ETH (~ $33,349) was raised by Beyond Finance for this launchpad event. BYN token is currently trading at $3.6 — an increase of over 7X over the initial offering price!
Please note that it is necessary to hold 5000 PBR tokens in your wallets, at the end of the Launchpad IDO event, to qualify for the investing opportunity. Further, the address must still be whitelisted through event forms or any other criteria mentioned thereof. The PolkaBridge will introduce the public pools also, so participants can take part in the launchpad event, being exempt from the above mentioned criteria.
About Beyond Finance
Beyond Finance is a decentralized platform for creating and trading synthetic financial products designed to suit the needs of the synthetic creator. Beyond synthetic products track the underlying asset price of the asset. Each synthetic product is backed by Beyond (BYN) tokens and a shared pool of collateralized BYN tokens are used to back the synthetic products with a collateralization ratio of 300%.