If anyone wants to trade in any cryptocurrencies through an exchange platform, most of their choice would be Binance. There are other such cryptocurrency trading platforms but the topmost priority of many traders would be Binance. Binance has gained such traction when it comes to crypto trade. But, the thing is, if you want to retain the top spot in the market, you need to update yourself in the field of operation. In that case, Binance had proved itself to introduce the new initiative “Binance Launchpool”. With the prevalence of Binance clone scripts in demand, the Launchpool option will drive all the cryptocurrency exchange platforms and the traders crazy.
In this blog, let us know about Binance Launchpool and how it is going to revolutionize the Binance clone script in the future.
What is Binance Launchpool?
Launchpool , by the name, explains about pooling and launching based on the crypto aspect. Yes, Launchpool by Binance also means that. Binance launchpool allows the users to use their tokens to farm or earn a new token without any effort. That means free. Yes, this initiative had further boosted the demand for Binance bitcoin exchange and Binance clone script.
You can earn such tokens if you have a stake in their coins — BNB or in BUSD or in other related altcoins. By this initiative, there are greater chances that the value of the Binance coins will go up at stake. It can even provide a competitive edge to other popular cryptocurrencies like Ethereum or Ripple too.
The first project of the Binance tokens to be hosted in the Bella protocol. Yes, by this the user to earn free tokens has to stake BNB or BUSD or ARPA tokens in three different pools to farm the BEL tokens.
This initiative is for 30 days starting from the 9th of September 2020. (09.09.2020).
After farming considerable BEL tokens, Binance will list the tokens in their exchange and create a trading pair of BEL tokens with their crypto coins. This also helps the users to implement the new Defi protocols and earn tokens in exchange for their cryptocurrencies. Defi is the most demanded protocol at present as the entire cryptocurrency industry is pushing itself to move towards Decentralised Finance. So Binance had taken a step forward in that direction to promote the tokens in an effective way.
Details about the Bella Protocol:
- The token used in the Bella protocol Launchpool is BEL token.
- According to Binance, 50 lakh BEL tokens will be rewarded for the 5 percent of the token supply.
- The total token value of BEL tokens to be rewarded is 100 crores.
- As previously denoted the staking and pooling period for the BEL tokens will be 30 days starting from the 9th September 2020 to 9th of October 2020.
- The value of the BEL token determined is 0.75 USD for one token.
- But staking different supported coins provide different opportunities for the traders. For instance, if you stake BNB, 90% will be given as rewards, but in terms of other coins like BUSD and ARPA, 9% and 1% will be rewarded respectively.
- Another good news is that there is no staking limit for the BEl tokens to be pooled or invested. Also, there is no requirement for the KYC verification if you want to pool your coins for BEL tokens.
This new initiative will be soon captured by the clone script providers and inducted in their Binance clone script software. And certain developing clone script providers like Coinsclone is on the way to induce this amazing yet smart feature in their clone script to provide invariable experience to their clients and their respective users.
If you want to participate in this Launch-Pooling initiative and earn rewards, then there are certain things you need to know:
Things to know before taking part in Binance Launchpool:
Binance had introduced their Launhpool option in their Binance savings page. So, if a user wants to invest or trade in BEL token, he or she should access the Binance savings page — Flexible savings product with Launchpool label in it.
If you already have a stake in BNB or BUSD or ARPA tokens, then you have to improve your stake above zero after the 8th of September 2020 to get considered for the Launchpool option. Then only the launchpool balance will be upgraded in your trading account. That means you have to stake an additional amount above 0 to trade in Launchpool balance. If you did not do so within the staking period, then you will not get the Launchpool rewards Binance provides you for the crypto coins.
How can you calculate the BEL token rewards:
- Firstly, you need to stake the BNB, BUSD, or ARPA tokens.
- Your staking will be recorded every hour consecutively for 30 days. Your staking should satisfy the average staking balance every day.
- Then, the staking rewards would be split among the three evenly every day for the thirty day period.
- For instance, If you pool BNB coins for BEL tokens, you will get a maximum of 150 thousand reward tokens every day for thirty days.
- But it differs from user to user. Not all users cannot retrieve the entire rewards. Some of them may stake 5000 BNB coins and some of them even lesser or more. So the rewards depend upon the stake the user holds in the particular Launchpool.
Can the Launchpool be available in the Binance clone script?
Why not. Launchpool is the new feature that heralds the DeFi principle from Binance. Binance is focussing on moving forward with the DeFi principle with the emergence of the Launchpool method. In that sense, the cryptocurrency exchange software developers will induct the clone with the updated features like Launchpool to satisfy their clients to promote their cryptocurrency business with DeFi options.
But some cryptocurrency exchange platforms have already inducted the DeFi principle in their Binance clone script. Those platforms just need to alter their DeFi status based on the Binance principle with their business requirement as a priority.
BNB use cases:
This will expand the BNB use cases. All those coins that are stake for the BNB launchpool will be automatically taken for the BNB IEO’s also. This will expand the arena for BNB and lauchpool tokens too.
Terms and Conditions of Binance Launchpool:
Binance Launchpool offers varieties of offers and adjustments to its users.
- The user can unstake their funds anytime based on their convenience. Also, they can even participate in other pools immediately.
- Rewards for the lauchpool offered to the users on a daily basis. It depends upon the stake of coins that you hold and the pool you involve.
- You should have tokens in your spot wallet. These tokens alone are the allocated ones for the Launchpool option.
- Other than rewards, Binance Launchpool will offer airdrops and other benefits to its users.
- Considering these factors, the clone development companies should build their updated Binance clone script.
Binance had showcased their move towards Decentralised finance by introducing the Binance Launchpool. This is the time for the clone script providers and the cryptocurrency exchange investors and cryptopreneurs to smoothly induct the Launchpool feature into the Binance clone script. So, why waiting? Just jump into the launchpool and reap benefits in the crypto world.