The world's largest crypto exchange Binance unveiled the Launchpool platform on Sept. 6. According to Binance, the new platform will allow users to have securely farm new assets as well as users will get new token rewards in return for staking BNB, BUSD, and other tokens.
The first project in Launchpool is the Bella protocol, where users will be able to stake their BNB, BUSD, or ARPA tokens into three separate pools to farm BEL tokens over 30 days, starting from 2020/09/09 00:00 AM ( UTC).
In addition, Binance will then list BEL at 6:00 AM (UTC) 09/16/2020 and open trading for BEL / BTC, BEL / BNB, BEL / BUSD, and BEL / USDT.
Benefits of BEL Token
Binance said there are numerous benefits from holding and using $BEL tokens such as discounts for Bella services, staking, voting, and governance, and rewards.
Notably, the Bella protocol raised a total of 4.50MM USD via a private token sale conducted in August 2020. The most prominent shareholders were Arrington XRP Capital, Alphabit, David Namdar, co-founder of Galaxy Digital, Laurenz Apiarius, founding partner of BlockWall Capital, 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, and many others.