The most important cryptocurrency exchange portal in the world, Binance, launches a new platform for DeFi. This is Binance Launchpool, the first of the forays of this firm for its users to safely host assets with Decentralized Finance (DeFi) protocols.
The first project that will be part of this new platform is Bella Protocol. It should be noted that, being part of Binance Launchpool, with it you can bet the BNB, BUSD and ARPA tokens. Thus, these bets can be placed in three separate groups to farm tokens, the note explains.
Another important aspect is that Binance launches this platform for DeFi, in which the BEL token will be included, with which it will be possible to trade. The options open for its exchanges are BEL / BTC, BEL / BNB, BEL / BUSD and BEL / USDT.
Binance’s first platform for DeFi
The information on the inclusion in the Bella Protocol list was announced during the morning hours of this Sunday, September 6. In this sense, as already said, through Launchpool, users will have at their disposal all the products of this DeFi.
For its part, it should be noted that the Bella protocol is part of the decentralized finance boom of the Ethereum Blockchain network. It is an optimized crypto banking. This allows a more democratic participation with regard to access to credit.
In this sense, the nature of DeFi is to fulfill all banking functions, but in a decentralized manner. In other words, this means that anyone, regardless of whether they are banked or not, can have access to the use of the services provided by these protocols.
What is the Bella Protocol?
It is a DeFi designed and prepared by APRA, and it allows the use of this form of democratic banking with some particular advantages. One of them is that it subsidizes the GAS rate, automating practically all of its functions, which allows both new and experienced users to have no problems using it.
According to declarations of the founder of Bella Protocol, Feliz Xu, cited by the Binance blog, this protocol is much cheaper than any other DeFi.
“At Bella, we want to bring your daily banking experience to the world of cryptocurrencies. Most of the holders of cryptocurrencies cannot participate in the DeFi due to the high cost that this implies “Xu asserts, while affirming that his protocol provides an answer to this problem and other “bad experiences”.
The automation of all the services of this DeFi protocol, explains Xu, allows any user, even without experience, to have full knowledge of it. “Our goal is to bring 10 times more users to DeFi,” he said.
An important step
Binance’s foray into DeFi for the first time, properly with a dedicated platform, is an important step for this firm. It must be remembered that the DeFi, have an impressive growth and are the pride of the crypto world, due to the success they report.
With the entry of the giant Binance, the DeFi universe has a new great exponent since it is the first major Exchange to promote them with its participation.
Data to take into consideration
- Binance has its first platform to include DeFi protocols within its services.
- The first DeFi to participate is Bella Protocol, which will offer highly centralized options, which will allow easy access to DeFi.
- Bella Protocol will allow with subsidized GAS rates, access to all the options offered by decentralized finance such as loans, credits, etc.
- Through Binance Launchpool, Bella Protocol users will be able to stake their tokens.
The information in this content has been extracted from reliable sources detailed below.:
1- Professional handling of content by the authors of CriptoTendencia.
2- External sources: Blogbinance.com.