Byron Network

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:

Bynet Wallet
ByronDEX
Byron Launchpad Toolset

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

Industry

DeFi

Tags

Wallet

DEX

Launchpad

Author

builtoncardano

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Glossary

Plutus

Plutus is the smart contract platform and language of Cardano and is written in the functional programming language of Haskell. The Plutus platform is used to write and release smart contracts to the Cardano blockchain.

There are multiple tools for learning how to use Plutus to create smart contracts on Cardano. Some of them are official and released by IOHK but many have been made and open sourced by community members.

Launchpad

The term launchpad is often used in the same sentence as the terms incubator and accelerator, but the three have their own subtle differences. Many launchpads also operate an accelerator and/or an incubator. But what does a launchpad do?

A launchpad connects new projects to investors, and allows the project to raise funds by giving investors access to an exclusive, early, and often discounted, token sale. So the project gets the funds in needs to proceed with development and investors get tokens at a discounted rate before they’ve even hit the market. To offer security to their investors, and to uphold their name, launchpads will conduct through KYC into the projects applying to be on their launchpad.

Some launchpads will also offer many of the same services offered by incubators to the fledgling projects that conduct token sales through them.

Launchpads are often a sidearm of an exchange, of both the centralized or decentralized varieties, as they already have the capacity to sell tokens and can then offer a guaranteed place for the tokens to be listed once the project is ready to release them to the public.

DEX

Here is a Cardano DEX list for you to explore all the decentralized exchanges built on Cardano. There are multiple Cardano DEX projects for you to choose from, each with a different take on the DEX concept and the way of managing a decentralized exchange protocol.

Listed here are Cardano DEX projects that are based on both the automated market maker (AMM) and the traditional order book style of exchange. Both types of DEX on Cardano, like any other exchange, require a good amount of liquidity to operate effectively. This leads many to say that the best Cardano DEX is the one with the most liquidity. However, there are many other factors that the users of these DEXes would tell you to take into account before deciding which is the best Cardano DEX, and which one you should interact with (although a high amount of liquidity is a good indicator for users).

Interestingly, many Cardano exchanges, such as Sundaeswap, use the concept of “batchers” to collect, order, and execute transactions. This reliance on a small group of batchers to order and execute user transactions reduces the decentralized nature these exchanges as these entities could easily collude to front run transactions from particular wallets or to censor transactions from other wallets.

The Bynet Token

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