At Binance, seen as the world’s largest cryptocurrency exchange, users can now safely ‘farm’ new assets in Launchpool as part of the exchange’s transition to DeFi products.
Binance today launched Binance Launchpool, a platform that allows users to collect new products for the cryptocurrency exchange DeFi.
As it is known, DeFi, which has attracted attention at the crazy level of the recent period, stands for Decentralized finance and represents the recreation of traditional financial assets in a decentralized environment far from government control. Currently, crypto assets tied to fiat currencies are gaining much more attention, thanks to DeFi.
“DeFi potential continues to grow at an incredible rate with the adoption of the crypto ecosystem,” said Changpeng Zhao, CEO and founder of Binance. said.
Launchpool starts with Bella Protocol
Bella Protocol, the first project of Launchpool, includes users BNB, BUSD and ARPA; It allows them to put BEL tokens in three pools to collect. The project will start on September 9 and will last 30 days. The Bella Protocol aims to offer crypto users greater access to DeFi products using the “One Click” design and subsidizing gas fees.
Bella co-founder and CEO Felix Xu said, “Most cryptocurrency holders cannot join DeFi due to the high cost and poor user experience. With Bella, investors can save on gas fees and time, get high efficiency from advanced strategies, and leave the hard part of the whole work to us. ” said.
BEL owners will also be able to generate revenue in the Bella Protocol ecosystem. Users will have the opportunity to vote for network improvements as well as fee discounts and rewards. Bella Protocol’s products currently include Bella Liquidity Mining (Liquidity mining), Flex Savings, ‘One Click’ Portal and Lending (lending).
Despite the recent serious interest in the DeFi ecosystem, the price of YAM fell from $ 6,000 to less than $ 1, and the founder of Sush Swap left the project and experienced “cash out”.
Binance, on the other hand, received increased attention despite these two events and jumped on the DeFi wagon.
Charles Storry, CEO and co-founder of the independent index protocol PhutureDAO, said the following about Binance’s step into the DeFi industry:
“DeFi is a very fast-growing crypto space and Binance is moving even faster to integrate the latest trends into its ecosystem.”