Cryptocurrency exchange Binance announced on Sunday the first project on newly launched Launchpool, which is described as a new product where uses will be able to acquire new token rewards in return for staking BNB, BUSD, and other tokens. The first project to be hosted on the Launchpool platform is Bella Protocol (BEL).
According to Binance, users will be able to stake their BNB, BUSD, or ARPA tokens into three separate pols to farm BEL tokens over 30 days, starting on September 9th. Binance will then list BEL on September 16th and open trading for BEL/BTC, BEL/BNB, BEL/BUSD, and BEL/USDT trading pairs.
BEL Launchpool Details
- Token Name: Bella Protocol (BEL)
- Launchpool token rewards: 5,000,000 BEL (5% of Total Token Supply)
- Total Token Supply: 100,000,000 BEL
- Private Sale Token Price: 1 BEL = 0.75 USD
- Staking Period: 2020/09/09 0:00 AM (UTC) to 2020/10/09 0:00 AM (UTC).
- Staking Terms: No upper limit. No KYC required
To participate and stake BNB, BUSD, or ARPA, uses may stake their tokens by going to the Binance Savings page and clicking on the BNB, BUSD or ARPA flexible savings products with a “Launchpool” label. Binance added:
“Users that have BNB, BUSD or ARPA tokens in existing flexible savings products need to stake any additional amount above 0 after 2020/09/06 8:00 AM (UTC) (after this announcement) for their existing balances to count toward their Launchpool balances. If users do not stake an additional amount above 0 within the staking period, they will not qualify to earn BEL Launchpool rewards.”