Binance Adds More Value to BNB through Yield Farming on Launchpool Platform

Binance CEO says CeFi farming yield would be higher than DeFi as the exchange announces yield farming.

Centralized cryptocurrency exchanges, OKEx, and Binance, are now jumping on the bandwagon of yield farming, the hottest thing in the DeFi.

After launching the mainnet of its smart contract-enabled blockchain and an AMM called Binance Liquid Swap recently, popular crypto exchange Binance released Launchpool to take advantage of the leading DeFi growth driver.

The exchange clarified that Launchpool is a new product, different from Launchpad, which will continue as normal, that allows users to earn yields from farming new coins while staking BNB and other digital assets. “BNB staked in Launchpool also counts for Launchpad,” it says.

Binance announced this latest product over the weekend, which will allow users to earn income by staking their tokens.

For now, users will be able to stake Binance’s native token BNB and its very own stablecoin BUSD, along with another token, ARPA.

Launchpool has also announced the first project it is hosting, which is Bella Protocol, which raised $4 million in a seed funding round led by Arrington XRP Capital last month. The project aims to enhance the user experience when interacting with DeFi assets by removing complex issues like high gas fees and hopping to different protocols in search of high yields.

Users can start providing staked liquidity this Wednesday for 30 days in three separate pools. A week from that, the exchange will list the BEL token against four crypto assets BTC, USDT, BNB, and BUSD.

Binance is offering BEL rewards at 90% for staking BNB, 9% for staking BUSD, and 1% for ARPA.

“If you think CeFi farming yield won't be higher than DeFi, think again,” said Binance CEO Changpeng “CZ” Zhao.

In decentralized finance, however, it can be much higher.

Binance Coin (BNB) Live Price

1 BNB/USD =29.1441 change ~ -12.50

Coin Market Cap

4.21 Billion

24 Hour Volume

582.33 Million

24 Hour Change

-12.50

Get Free Email Updates!

*Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

I will never give away, trade or sell your email address. You can unsubscribe at any time.

AnTy
AnTy
AnTy has been involved in the crypto space full-time for over two years now. Before her blockchain beginnings, she worked with the NGO, Doctor Without Borders as a fundraiser and since then exploring, reading, and creating for different industry segments.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

LEAVE A REPLY

Please enter your comment!
Please enter your name here

3,511FansLike
2,795FollowersFollow
4,273FollowersFollow

Live Bitcoin Price & Latest BTC Charts

Today's Latest Crypto News

BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.

Start Using Crypto Today