In brief
Introducing Launchpool, a Secure Way to Farm New Assets - Farm Launchpool’s First Project, @BellaProtocol Protocol $BEL By Staking #BNB, #BUSD or $ARPA Tokens.https://t.co/VVPoWbbI3A
— Binance (@binance) September 6, 2020
$118,388.00
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0.02%$1.005
0.66%$4,040.43
-2.18%$0.999687
-0.00%Reading
Role
Founder and former CEO of Binance
Location
Cayman Islands
Education
McGill University
Current Project
TBD
Previous Projects
Binance, BijieTech, Blockchain, Fusion Systems, Bloomberg
Binance has today launched Binance Launchpool, a platform that allows users to farm new assets, as part of the cryptocurrency exchange's pivot to DeFi products.
DeFi, short for decentralized financedecentralized finance, is the talk of the town in the cryptocurrencycryptocurrency industry. DeFi revolves around recreating traditional financial assets in a decentralized environment further afield from government control. With crypto assets tied to fiat currencies currently embroiled in litigation, DeFi is gaining new momentum.
Introducing Launchpool, a Secure Way to Farm New Assets - Farm Launchpool’s First Project, @BellaProtocol Protocol $BEL By Staking #BNB, #BUSD or $ARPA Tokens.https://t.co/VVPoWbbI3A
— Binance (@binance) September 6, 2020
“The potential of DeFi is accelerating at an outstanding rate, along with its adoption among the crypto ecosystem,” said Changpeng Zhao, CEO and founder of Binance.
Launchpool’s first project is Bella Protocol, which allows users to stake BNB, BUSD, and ARPA tokens into three pools to farm BEL tokens. This initiative lasts for 30 days and begins on September 9, 2020.
The Bella Protocol will aim to offer crypto users greater access to DeFi products by using automation and "1-Click" design, as well as subsidizing gas fees.
NEW YORK—Not too long ago, I was shacked up in a cheap hostel, in Manhattan. The window was open to counteract the heat of the stiff radiator, which couldn’t be turned off on a hot day in May. My colleague was nowhere to be seen and I’d just received a shocking message about Binance, the largest crypto exchange in the world. That afternoon, the exchange had been hacked. It had lost 7,000 Bitcoin, which was then worth a staggering $40 million. Crypto exchange hacks are all too common in this worl...
“A majority of crypto holders cannot participate in DeFi due to high cost and poor user experience,” said Bella co-founder and CEO Felix Xu. “With Bella, users can save gas fees and time, enjoy high yield from sophisticated strategies, and leave all the heavy-lifting to us.”
BEL token holders will also be able to earn revenue within the Bella Protocol ecosystem. Users will receive fee discounts and rewards, as well as having the opportunity to vote for network improvements.
Crypto exchange Binance had its best month yet for its futures offering with billions of dollars in trade volumes across all altcoins, the firm said in its August market outlook. Futures markets allow investors to take leveraged bets on the price movements of an asset without them necessarily purchasing that asset. They also allow traders to profit from price declines by letting them bet against the market, in contrast to spot trading where investors can only either buy and hold an asset or sell...
Bella Protocol’s product lineups currently include Bella Liquidity Mining, Flex Savings, One-Click Portal, and Lending.
The nascent DeFi ecosystem has had its fair share of false starts in its short lifespan, between the YAM boom-and-bust and SushiSwap’s founder cashing out. Binance, though, clearly sees potential in the space—and is enthusiastically leaping aboard the DeFi bandwagon.
“DeFi is a fast-moving space within crypto. Binance, it seems, moves even faster to integrate all the latest trends within their ecosystem,” Charles Storry, co-founder of PhutureDAO, told Decrypt.
MEI Pharma, a publicly traded pharmaceutical company, closed a $100 million private placement on Wednesday to refashion itself into a litecoin treasury firm. MEI sold 29,239,767 shares of its common stock, raising roughly $100 million, Litecoin Foundation founder Charlie Lee told Decrypt. Under the agreement, the company sold its stock at $3.42 per share. Lee led the private placement alongside digital asset market maker GSR and will be joining MEI’s board of directors, according a statement fro...
A century-old Japanese textile company has become the latest financially battered firm to turn to Bitcoin as a treasury asset, announcing plans to purchase up to $5.4 million (800 million yen) in crypto to stabilize its bottom line after years of losses and muted cash flow. Kitabo Co., Ltd., a Tokyo Stock Exchange-listed textile manufacturer that produces synthetic fibers and industrial materials, announced in a statement on Tuesday that it will begin gradually acquiring Bitcoin using dollar-cos...
Tesla’s long-awaited retro-style diner finally opened over the weekend in Los Angeles, and yes, there’s rollerskating waitstaff, rooftop seating, and a humanoid robot handing out popcorn. No, you can’t pay in Dogecoin, yet. Located near the iconic Paramount Studios, the two-story fever dream sits atop a Supercharger hub with 80 EV-only parking spaces. Part midcentury nostalgia trip, part Muskovite experiment, the diner has seating for 250 people and features two, drive-in-movie-sized LED screens...