Beyond Finance partners with Lithium Finance to create synthetic private assets
We are excited to announce a new partnership with Lithium Finance to launch synthetic private assets.
Our synthetic exchange was built to enable broader access for the unbanked/underbanked in a limitless manner. The collaboration with Lithium will focus around creating new private markets that are not publicly traded, such as Space X or Stripe.
Introduction
Lithium Finance is an oracle built to regularly price illiquid assets using collective intelligence. Lithium’s unique proposition is facilitated by the Determinant-based Mutual Information (DMI) mechanism. This method enables participants to request pricing on specific private assets, while simultaneously incentivizing and rewarding pricing providers who offer truthful and accurate answers. By the same token, the DMI mechanism punishes those who put forth inaccurate information. With this mechanism, Lithium is able to price assets which would predominantly be inaccessible to individuals not from the industry.
New Markets, Decentralized
By utilizing Lithium’s price oracle, Beyond will be able to create synthetic products that can track price movements of private assets accurately and promptly, while allowing for worldwide participation and price discovery.
The integration involves Beyond being a Wisdom Seeker, with Lithium the designated oracle for pricing data.
Wisdom Seekers are a critical part of the Lithium ecosystem. They use LITH — the native token of Lithium — as a bounty to seek accurate pricing information. At the same time, Wisdom Nodes receive LITH as a reward when they can provide accurate pricing data quickly. These interactions between Wisdom Seekers and Wisdom Nodes are the essence of the DMI Mechanism, which Lithium relies on.
David Lighton, Co-founder of Lithium Finance, explained that
“While many other oracles have been focusing on bringing pricing data of liquid assets into DeFi, Lithium sets its focal point on private and illiquid assets. We believe that’s where we can bring real assets into DeFi. We are glad that the Beyond team shares the same perspective, and together we will be able to bring new opportunities to the broader DeFi world.”
The Beyond x Lithium partnership will lower the barriers for private assets trading among the DeFi public, thereby opening doors for bringing more real assets into DeFi.
Jeremy Park, Head of Business for Beyond Finance, comments that
“The timing could not have been better. Upon a successful mainnet launch, we were looking into exploring other financial markets. Lithium will now play a key role for Beyond and its users, to obtain and discover new illiquid private markets, otherwise thought inaccessible in a decentralized manner. This partnership will fundamentally start a movement to bring inaccessible valuation data for Beyond’s users, to price the unpriced, thanks to Lithium’s unique mechanism of being a collective-intelligence pricing oracle. We look forward to collaborating with Lithium in bringing further unlimited markets into our decentralized network”
Closing thoughts
Bridging the real asset world to DeFi has been a long-debated topic. This collaboration will set an excellent example of how to bring real asset exposure into the DeFi space by lowering access barriers of private assets for all DeFi users. The combination of Lithium’s unique pricing oracle and Beyond’s dynamic synthetics trading will only complement the decentralized ecosystem, via allowing users access to any financial market of their choice.
About Beyond Finance
Beyond is a decentralized synthetic product trading platform where users can create and trade synthetic financial products, unlocking the full potential of decentralized finance and derivatives without limits. With prominent key partners including Huobi Ventures, Spark Digital Capital, and OKex Block Dream Fund, Beyond Finance allows users to trade decentralized products without any restrictions, allowing individuals to reach their fullest to fully realize the value of Decentralized Finance.
Website / Twitter / Telegram / Reddit / Medium / Discord
About Lithium Finance
Lithium Finance is the first collective-intelligence pricing oracle to give precise and timely pricing on private, illiquid assets. It rewards analysts who provide truthful information and punish those who offer false pricing data. As a result, Lithium’s users obtain pricing for all hard-to-value assets such as pre-IPO stocks, private equity, and other illiquid assets effectively.
Website / Telegram / Twitter / Litepaper / Medium / LinkedIn / YouTube
