rewrite this title Evoq Finance To Initiate Open Beta In February, Inviting Users To Explore Its Platform And Earn Rewards

by
Alisa Davidson

Published: January 30, 2025 at 5:34 am Updated: January 30, 2025 at 5:34 am

by Ana

Edited and fact-checked:
January 30, 2025 at 5:34 am

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Platform focused on P2P-based lending optimization, Evoq Finance announced the upcoming launch of its incentivized Open Beta, marking a milestone in its journey toward the official platform release.

This beta test event is open to anyone interested in exploring the platform, and it will take place on the Binance Smart Chain (BSC) mainnet using real assets instead of a testnet. The Open Beta page will go live in February 2025, with testing running for several weeks. The specific end date will be determined following the results of internal testing.

Due to certain technical constraints with the testnet version of Venus Protocol, which Evoq currently uses, the team asks for understanding as they proceed with testing on the mainnet. The objective of this beta phase is to address any remaining issues and refine the product for the official launch.

In order to participate, users are required to hold assets that are compatible with Binance Smart Chain to engage with the platform. The initial supported assets will include BNB, BTCB, USDT, USDC, ETH, and FDUSD.

Users transitioning from Venus Protocol are likely to experience more favorable interest rates, as well as a 0% reserve factor during this period, allowing for the most optimal returns to be directed to them. In addition, Evoq Finance reports that it has implemented various incentives to ensure that all participants are properly rewarded.

Evoq Finance Offers Limited-Time Rewards For Platform Engagement And Bug Reporting

Additionally, the platform is offering special, limited-time rewards throughout the first month of the Open Beta, which include: bonus tokens for early participants who actively engage with the platform, eligibility for airdrops during our upcoming Token Generation Event (TGE), and extra perks for providing valuable feedback during this phase.

Eligible activities for rewards include: activating the product by either supplying or borrowing assets, engaging with the platform on a daily basis, and reporting any bugs or usability issues encountered.

Evoq Finance aims to enhance capital efficiency and deliver more favorable interest rates for both suppliers and borrowers. The Open Beta is aimed at inviting the community to explore and engage with the Evoq platform before its official launch. This offers users an opportunity to: experience the user interface and core features firsthand, provide valuable feedback to help refine and optimize the platform based on real user experiences, and contribute to an ecosystem that is designed for the future of decentralized finance (DeFi).

About The Author

Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.

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Alisa Davidson

Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.

More articles