Shiba Inu Partners With Beta Finance: SHIB Holders Can Now Lend, Borrow and Short-Sell Token

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Beta Finance

Beta Finance is a permissionless money market on Ethereum for borrowing, lending, and shorting crypto assets and has officially listed Shiba Inu on its platform.

Therefore, SHIB users can lend their tokens to earn interest from borrowers while allowing traders to borrow Shiba Inu and short it to hedge positions plus make the premium.

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Beta Finance Plans to Calm the Cryptocurrency  Market 

Beta Finance believes that the cryptocurrency market should be less volatile, allowing more investors to enter the market. Hence, the platform provides a tool for short-selling, which is not available in the DeFi ecosystem.

Users can easily do so with the platform’s “1-Click Short” tool. It allows users to access a scalable and accessible money market where tokens can be listed permissionless and automatically and where users can short these tokens.

Allen Lee is an MIT alumnus and an experienced software engineer at Microsoft and Facebook. Additionally, he is the founder of Beta Finance. 

It is also backed by well-known investors, including Spartan Group, ParaFi Capital, Multicoin Capital, DeFiance Capital, and Delphi Digital. 

Beta Finance also has its token named BETA.

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