On Sept. 6, the world’s largest crypto exchange Binance unveiled the platform Launchpool. The new platform will allow users to securely farm new assets as well as users will get new token rewards in return for staking BNB, BUSD and other tokens, according to Binance.
The first project in Launchpool is the Bella protocol, where users will be able to stake their BNB, BUSD, or ARPA tokens in three separate pools over 30 days to farm BEL tokens, starting at 2020/09/09 00:00 AM (UTC).
In addition, at 6:00 AM (UTC) 09/16/2020, Binance will then list BEL. And open trading for BEL / BTC, BEL / BNB, BEL / BUSD, and BEL / USDT.
BEL Token Benefits
Binance said there are numerous benefits from holding and using $BEL tokens. Such as Bella service discounts, staking, voting, and governance, as well as rewards.
The Bella protocol, in particular, raised a total of USD 4.50MM through a private token sale in August 2020. The most prominent shareholders were Arrington XRP Capital, Alphabit, David Namdar, co-founder of Galaxy Digital, Laurenz Apiarius, BlockWall Capital founding partner, Ben Gorlick, ex-Head of Product at Blockstream, Koi Ventures, Force Partners, RockX, CGS Dubai, N7 Labs, Coinbene, Amedeo Capital, AlphaCoin Fund, Bitblock Capital, BlueHill Capital, Roark Fund, Yunshang Capital, Consensus Labs.