An ecosystem of of DeFi dApps and user tools built on Cardano, being designed for multichain operation.
Called the Byron Network project by its creators binarapps the Byron Network consists of interlinking products and tools building on top of the Cardano blockchain. The first tools to be created in the Byron Network are:
binarapps have been creating blockchain-based dApps for over 5 years and they were one of IOHK’s development partners prior to the Alonzo hardfork. Here they went through the Plutus Pioneer program to assess the processes and support and they also assisted in developing dApps to stress test the network prior to launch.
The Bynet Token
The BYNET token is designed to be an incentive for participation in the BynetDEX. 60% of the token is to be distributed through the DEX. Holders of the token will be granted voting power to various aspects of the protocol and other parts of the Bynet ecosystem, including:
- Which tokens will be listed on the DEX
- Which SPOs will be listed on the Bynet Wallet
- Future functionalities to be integrated into the DEX