Cryptocurrency exchange Binance has launched a new service for staking digital assets called Launchpool.
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With the platform, users can acquire new token rewards in return for staking BNB, BUSD and other tokens. The first project, according to an official announcement, to be hosted on Launchpool is Bella Protocol (BEL).
The exchange says users will be able to stake their BNB, BUSD or ARPA tokens via three pools to farm BEL tokens over 30 days, starting from 2020/09/09 0:00 AM (UTC).
After farming, Binance will list BEL at 2020/09/16 6:00 AM (UTC) and open trading for BEL/BTC, BEL/BNB, BEL/BUSD and BEL/USDT trading pairs.
Earlier in September, Binance presented the centralized-AMM pool Binance Liquid Swap.
This new platform allows users to group tokens and get instant liquidity and profits. Users deposit funds into liquidity pools, after which they start to receive interest on trading fees generated by transactions executed with the funds available at Binance Liquid Swap.
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