Question 1

What is NBX (BYN)?

Accepted Answer

NBX is the decentralized derivatives platform formerly known as Beyondfi; BYN is the token name used by the project. The two should be distinguished: NBX/Beyondfi refers to the platform project, while BYN refers to the token associated with that project, rather than a same-named entity such as Norwegian Block Exchange. The project’s 2021 announcement described Beyond Finance as a platform for creating and trading synthetic financial products; its 2023 rebranding announcement stated that NBX was formerly Beyondfi. This description reflects the project’s historical positioning in its announcements and should not be taken to guarantee the current status of its services or token arrangements.

Question 2

How was BYN initially issued?

Accepted Answer

In an April 12, 2021 announcement, the project stated that BYN was launched through multiple initial decentralized exchange offering (IDO) platforms. The process described was that addresses meeting whitelist requirements participated in open pools on the respective platforms, the IDO ended that day, and full token claiming was then scheduled for April 13. This indicates that the IDO was the fundraising and distribution method at the time, rather than an ongoing rule for acquiring tokens. The announcement also listed different allocations, prices, and eligibility conditions for different platforms; participation eligibility and specific timing were subject to the arrangements of each platform at that time.

Question 3

What announced directions have there been for BYN’s supply mechanism?

Accepted Answer

The 2023 rebranding announcement proposed that the project intended to burn “the majority” of BYN and would publish the exact amount in a subsequent article; the announcement itself did not provide the amount already burned or evidence of completion. Therefore, this was a supply-adjustment plan announced at the time and cannot be stated as a current fact that has already been completed. The same announcement also proposed an airdrop compensation arrangement totaling 1,000,000 BYN, stating that applications would be handled with reference to users’ BYN amounts on trading and staking platforms. The eligibility, application window, and verification conditions of this plan were historical arrangements under that announcement and do not automatically constitute current holder rights.

Question 4

What is the difference between synthetic financial products and directly holding assets?

Accepted Answer

The “synthetic financial products” described in project announcements refer to products that allow users to create and trade exposure related to a type of financial market; this is not the same as directly holding the referenced stock, commodity, or crypto asset. Direct holding typically means holding the asset itself, whereas the value and settlement method of a synthetic product depend on its specific design. Therefore, trading synthetic products should not be understood as automatically acquiring ownership, dividends, voting rights, or redemption rights in the referenced asset. Whether such rights exist depends on the specific product contract and terms; nor can the BYN token itself be equated with any underlying asset merely because the platform involves synthetic products.

NBX (BYN) Price

Price of NBX (BYN) Today in USD

NBX (BYN) Price History

Fear & Greed Index

Why Did NBX (BYN) Rise in the Last 24 Hours?

About NBX (BYN)

Use Cases and Features

Supply and Issuance Mechanism

How to Buy and Use NBX (BYN)

How to Buy

Related Markets

Frequently Asked Questions About NBX (BYN)

What is NBX (BYN)?

How was BYN initially issued?

What announced directions have there been for BYN’s supply mechanism?

What is the difference between synthetic financial products and directly holding assets?