World’s largest crypto exchange, Binance, has introduced a new platform called Binance Launchpool, on September 06, to help the users in farming new assets by staking their crypto assets like BNB or BUSD.
The recent move by Binance proves that the exchange is a bit inclined towards the DeFi products.
Since the past few months, DeFi has become a topic of discussion in the crypto space, because of its performance in the market.
While talking about DeFi, the founder of Binance, Changepeng Zhao, stated that presently it’s performance and adoption is increasing at an outstanding rate in the market.
As per the report, Bella Protocol will be the first project of Launchpool that would help the users in farming BEL tokens by staking their BNB, BUSD and ARPA tokens. Starting from September 09, the project would be operated for 30 days.
Binance customers working on Bella Protocol would have to use the automation and ‘1-Click’ design in order to get access to DeFi products.
The CEO and Co-Founder of Bella Protocol, Felix Xu, has recently stated that DeFi products are usually very costly and also they are not user friendly, that is the reason most of the users in the crypto space are not part of it.
But, he further notified, “With Bella, users can save gas fees and time, enjoy high yield from sophisticated strategies, and leave all the heavy-lifting to us.”
Further, it has been informed that the users operating in Bella Protocol for farming BEL tokens would also be getting revenue on their holdings. Also, the users would be allowed to vote for network improvement and will be offered fee discounts and rewards.
As per the notification released by Binance, the first project of Launchpool will include products like Bella Liquidity Mining, Flex Savings, One-Click Portal and Lending.