Binance, the world’s largest cryptocurrency exchange, has revealed the Launchpool platform “Bella protocol” that 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.
It has been reported that 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).
However, 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.
Binance unveils platform to farm new assets called Launchpool https://t.co/9QLn1rQdyV — Cointelegraph (@Cointelegraph) September 6, 2020
According to the report, Binance said that there are numerous benefits from holding and using $BEL tokens such as discounts for Bella services, staking, voting, and governance, and rewards.
The Bella protocol raised a total of 4.50MM USD through a private token sale conducted in August 2020.
Thus, the most prominent shareholders were Arrington XRP Capital, Alphabit, David Namdar, the co-founder of Galaxy Digital, Laurenz Apiarius, the founding partner of BlockWall Capital, Ben Gorlick, the 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.