Binance, the world’s leading crypto currency exchange, could not remain indifferent to the growing DeFi trend. The exchange that opens Binance Launchpool to its users will allow investors to do yield farming in this way. It was announced that Launchpool’s first project will be Bella Protocol (BEL).
The yield farming application, which has provided great gains to investors through some projects in the decentralized finance (DeFi) sector, will now appear on the world’s largest cryptocurrency exchange. Exchange users will now be able to evaluate their investments through Binance Launchpool, according to the announcement from Binance’s official site a day ago.
According to the statement made by both Bella Protocol and Binance through their official Twitter accounts, users will be able to stake their investments on Binance’s own tokens Binance Coin (BNB) and Binance USD (BUSD) and ARPA Chain (ARPA).
We are honored to bring #DeFi farming experience to @binance users through Launchpool. Stake $BUSD, $BNB and $ARPA to farm $BEL! Liquidity mining and product launch on the way. Stay tuned! https://t.co/hpMwC86orG @cz_binance @SBF_Alameda @arrington
— Bella Protocol (@BellaProtocol) September 6, 2020
The First Project Will Be Bella Protocol (BEL)
Bella Protocol (BEL) will be the first platform to be used within Launchpool. BEL protocol offers users a simplified and easier to use platform in the face of the complex structure of DeFi. According to the statement, users will be able to stake their investments within 3 different liquidity pools for a 30-day period starting Wednesday. It was announced that Binance will list 4 pairs for BEL as of September 16. It is planned that the parities that can be traded on Binance after about 1 week will be BEL / BTC, BEL / BNB, BEL / BUSD and BEL / USDT.
Last Week’s “Token Swap” News Arrived
Binance announced a few days ago that it is developing a system similar to the Uniswap platform, which is increasing in popularity. Binance Liquidty Swap project announced that it promises liquidity providers to earn interest from these actions, just like some DeFi platforms. This model, also known as yield farming, which serves to gain profit from investments passively, is now offered to a wider audience through Binance.