Binance Roll Out Platform for Farming Digital Assets
Binance, arguably the world’s largest cryptocurrency exchange has rolled out Launchpool platform to securely farm fresh assets. Furthermore, users of the platform will receive unique token rewards in exchange for staking BUSD, BNB and other tokens.
The initial phase in Launchpool is the Bella covenant, where users will be capable of staking their BNB, ARPA or BUSD tokens into three distinct pools to farm BEL tokens for more than 30 days, beginning from 2020/09/09 00:00 AM (UTC).
Furthermore, Binance also intends to list BEL at 6:00 AM (UTC) 09/16/2020 and start trading for BEL / BTC, BEL / BNB, BEL / BUSD, and BEL / USDT. Binance stated that there are several advantages from staking and utilizing $BEL tokens as for instance rebates for Bella services, voting, staking, governance and rewards.
Specifically, the Bella covenant amassed a total of $4.50 million through private token sale carried out last month. Major sharholders were David Namdar, Arrington XRP Capital, Alphabit, Ben Gorlick, Laurenz Apiarius (co-founder of Galaxy Digital), Koi Ventures, N7 Labs, Coinbene, founding partner of BlockWall Capital, Force Partners, BlueHill Capital, ex-Head of Product at Blockstream, AlphaCoin Fund, Amedeo Capital, Yunshang Capital, CGS Dubai, RockX, Bitblock Capital, Roark Fund, Consensus Labs, and several more.