New Binance Staking Feature: Binance Launchpool
This post has information on how much, in my opinion, you can earn on such staking / farming and what you need to do to participate in the Binance Launchpool.
Binance Launchpool has appeared on Binance.This is Staking / Farming - a new system for distributing tokens that Binance will add to its trading platform.
This is a kind of new IEO option for binance through staking at Binance Launchpool.
❓How it works:
You take your BNB coins (if you don't have BNB, then buy BNB on Binance) and put these BNBs at interest in a special pool. The contribution brings only 0.27% per annum, but the essence of this contribution is not in annual interest, but in the fact that this contribution in the period from 09.09.2020 to 09.10.2020 will bring you BEL tokens.
BEL is a DEFI token of the project, which Binance will add to its trading platform on September 16, 2020. After that, you can sell BEL tokens, which are credited to you for your contribution to BNB.
❓💰How much can you earn:
The amount of investments in BNB can be any, the annual percentage of this does not change, but I count on the basis of the amount of the contribution of 500 BNB.
The starting price of BEL was $ 0.75 per coin. Based on my calculations, making a steak (investing) 500 BNB (this is about 10k dollars), the minimum we will receive is about 4.5 BEL, which means that this is about 3-4 dollars per day. About $ 100 per month or 12% per annum. That for the banking sector is simply an exorbitant percentage, but 12% per annum for cryptocurrencies is somehow not enough.
Therefore, I assume that binance will accelerate the price of the BEL coin several times and pharming will eventually bring not 12% per annum, but several times more.
Why is it profitable for Binance to overclock the price of the coin ?!
Because this is the first project on the Binance Launchpool and, in theory, binance should show the prospects for such farming / staking.
If the BEL price rises, then the BNB price will rise as well, since people will want to buy BNB and put BNB in Binance Launchpool to get BEL for free. And the high price for BNB is good for Binance.
Why Binance chose BEL !?
BEL is a project that is partially similar in functionality to YFI, BEL is a platform token https://bella.fi/. You use the platform by investing your funds there, and the platform reduces your transaction costs and distributes your funds to various pools by itself, maximizing your income.
Knowing what YFI did in a short period of time of about x1000, I think that Binance chose BEL for a reason (a project similar to YFI).
As a result, I expect that 1 BEL will cost not $ 0.75, but much more expensive (I expect X by BEL).
Otherwise, what's the point of Binance Launchpool ... =))
⚠️How to participate in the Binance Launchpool?
1. Log in to your Binance account (if you don't have an account, then register using the link and get additional discounts on commission):
https://www.binance.com/en/register?ref=BB9IP50U
2. Go to the Binance Savings page (Finance ➡️ Deposits) and select Launchpool BNB.
Click Transfer (Transfer Asset) and transfer the desired amount to this pool.
* In order to receive BEL in addition to the BNB deposit, you can contribute in BUSD and ARPA coins, but most of the BEL (90%) will be distributed among people using the BNB pool for Binance Launchpool.
* The number of BEL credited to you daily will be calculated based on how many hours a day you kept your funds in the pool. BEL will be charged daily
* You can always withdraw your investment from these pools simply by clicking Redeem on this page: https://www.binance.com/en/my/wallet/account/saving
Happy Binance Farming!
