Binance has been at the forefront of cryptocurrency exchange services since 2018, and today they just announced the release of Binance Launchpool. Looking to expand earning potential for their users, Binance is hoping that Lauchpool becomes an easy-to-use DeFi platform that expands their trading cache and provides the kind of flexibility that many smaller exchanges have long provided.
Launchpool's first project, known as the Bella Protocol will incorporate a "1-Click" design with lower gas fees and a gateway to DeFi products on the Binance platform. DeFi or Dentralized finance is quickly becoming the new platform for emerging crypto investors, with several services leading the way.
Why is DeFi so popular? The simple concept of establishing financial assets in a decentralized environment and taking ownership of your money is one of the most fundamental concepts of crypto currency itself, and DeFi is finally making some waves.
Why Binance Launchpool?
As one of the major players in crypto exchanges, Binance provides a platform that is trusted and stable. All Launchpool users will be able to stake coins into pools to farm BEL tokens over a 30 day period. From 9/09/2020 onward up until Binance lists BEL at 6AM UTC on 9/16/2020. This gives investors an early crack and getting in at Ground Zero.
What does that mean? For anyone getting into the Launchpool service, you will be earning BEL tokens well ahead of everyone else. Any vested tokens will be distributed on a daily basis and you can immediately trade or execute on the tokens that have been earned.
In a nutshell, you can accumulate a new coin well before the listing on Binance.com which sounds like an incredibly exciting prospect.
Could the Bella protocol be worth a look? It's definitely a fascinating investment opportunity, and one that Binance is looking to really build upon. If users can lean into DeFi features such as flex investing or on-demand liquidity to increase their portfolio, it could really change the game.