diff --git a/entities/internet-finance/bynomo.md b/entities/internet-finance/bynomo.md new file mode 100644 index 000000000..c86fd1b6f --- /dev/null +++ b/entities/internet-finance/bynomo.md @@ -0,0 +1,38 @@ +# Bynomo + +**Type:** Protocol +**Domain:** internet-finance +**Status:** Active (failed fundraise) +**Description:** Binary options trading dapp using Pyth oracle feeds for on-chain settlement + +## Overview + +Bynomo is a crypto-native binary options trading platform, positioning itself as a decentralized alternative to platforms like Binomo and IQ Option. The protocol uses Pyth oracle price feeds instead of centralized dealer pricing, with on-chain settlement. + +## Product + +- **Trading rounds:** 5 seconds to 1 minute duration +- **Asset coverage:** Crypto, stocks, forex, commodities +- **Settlement:** On-chain via Pyth oracles +- **Deployment:** Claims deployment on 8 chains + +## Traction (as of April 2026) + +- ~12,500 bets settled +- ~250 SOL in volume +- ~76 unique wallets + +## Fundraising + +Attempted fundraise on futard.io in April 2026: +- **Target:** $50,000 +- **Committed:** $16,000 (32% of target) +- **Outcome:** Failed to reach target, signaling market skepticism + +## Analysis + +The product represents an incremental improvement over web2 binary options platforms through oracle-based price feeds, eliminating house control of pricing. However, the failed fundraise suggests the market was unconvinced about either the team's execution capability or the product-market fit for gamified trading with a DeFi wrapper. + +## Timeline + +- **2026-04** — Launched fundraise on futard.io, raised $16k against $50k target \ No newline at end of file