How To Start Yield Farming On Binance?
Popular cryptocurrency exchange Binance released Launchpool, a method for users to earn revenue by staking tokens for yield farming. According to a Binance announcement, users of Launchpool can stake Binance’s native BNB token and BUSD stablecoin as well as other […]
Which topics should we dive deeper into?
Select what genuinely interests you. Your picks feed directly into our editorial planning.
Crypto news that's actually worth your time.
Weekly. 60 seconds. Carefully curated by our editors: no hype, no promo flood, no spam.
Popular cryptocurrency exchange Binance released Launchpool, a method for users to earn revenue by staking tokens for yield farming. According to a Binance announcement, users of Launchpool can stake Binance’s native BNB token and BUSD stablecoin as well as other tokens, for interest-bearing rewards. Here’s everything you need to know about Yield Farming on Binance…
What is Yield Farming?
In DeFi, yield farming is the concept of making profit on your assets by placing them in interest generating DApps. Yield farming enables users to make passive income on their idle assets, by utilizing the decentralized ecosystem developed on Ethereum, Binance Smart Chain, or any other smart blockchains. As a consequence, yield farming is changing how investors HODL in the future.
Yield farming often relies on liquidity pools. Asset holders can provide their liquidity to lending platforms or Decentralized Exchanges (DEX). In return, the liquidity providers earn interest in the form of fees, generated when others access their funds to borrow or exchange tokens.
What is Binance Launchpool and How to Yield Farm on Binance?
By loading the video, you agree to YouTube’s privacy policy.
Learn more
Launchpool allows Binance users to receive new coins in return for staking their BNB, BUSD, and other tokens on the Binance Smart Chain mainnet. The number of tokens users make each day is proportional to the number of tokens they have contributed to the pool vs the total amount of tokens contributed to the pool.
Launchpool will be used to list new tokens to Binance. Farming begins 7 days before the listing, and carries on for a total of 30 days. Farmed coins are paid out daily. The staked coins can be withdrawn at any given point during the 30 days. In this way, BNB, BUSD, and ARPA coin holders are the first to receive any new coins to be launched on Binance.
How do you get started?
For users of the desktop version of Binance:
For users of the Binance app:
Anyone with a Binance.com account can participate in the Launchpool. All that’s needed is a coin balance higher than 0.1 (for example 0.1 BNB) of any token supported for the pool, with no upper limits.
Binance Launchpool and the Bella Protocol (BEL)
As mentioned earlier, Binance Launchpool will compensate users for staking BNB, BUSD, and ARPA. Binance also announced the first project on Launchpool called Bella Protocol (BEL).
Users will be capable to stake their BNB, BUSD, or ARPA tokens into three distinct pools to farm BEL tokens over 30 days. In this process, Binance will also list the Bella Protocol (BEL) and then open trading for BEL/BTC, BEL/BNB, BEL/BUSD, and BEL/USDT trading pairs.
Conclusion
Yield farming is changing the way people are HODLing crypto. It enables crypto enthusiasts to earn interest on their idle assets. But as a relatively new and still developing concept, yield farming might bare unknown risks, like smart contract faults for example. It is always important to properly research any project before allocating assets to it.
Related articles
- Best Staking Tokens in 2023: Diversify Your Crypto Holdings
- What Is Yield Farming? Simplest Guide To Farm Yield!
- Exploring the Leading DeFi Tokens: A Comprehensive Guide
- $MEME Coin’s Exciting Debut on Binance Launchpool: Farming and Listing Insights
- The Game Changers: Top 5 DeFi 2.0 Tokens to Invest in Now
Which topics should we dive deeper into?
Select what genuinely interests you. Your picks feed directly into our editorial planning.
Crypto news that's actually worth your time.
Weekly. 60 seconds. Carefully curated by our editors: no hype, no promo flood, no spam.
November 28, 2022 7:47 AM
Aave Review 2022 – Is Aave Worthwhile?
This article is all about Aave review 2022 and whether Aave is worthwhile or not. Let’s take a look at it in more detail.
October 2, 2022 12:56 PM
DeFi Explainer: What is Impermanent Loss?
Partaking in LPs can get risky. In this article, we're going to talk about what is impermanent loss, and how to mitigate any associated risk.
July 23, 2022 9:01 AM
What is SuperFarm? The NFT Marketplace
NFTs present a good possibility to make profits. This article is all about What is SuperFarm and the key features
April 3, 2022 3:04 PM
What is Cardano Staking? Here’s a Guide to Earning JUICY INTEREST!
Cardano is a project that gained many loyal followers over time. Cardano staking is an interesting aspect of the project, let's talk about it.
December 21, 2021 9:13 AM
3 Good Reasons why you should Invest in PancakeSwap Crypto
Let's talk in this article about why Pancakeswap crypto is a good investment option by laying 3 strong pillars in the Pancakeswap infrastructure.
June 17, 2024 10:59 AM
TOP 3 DEX for June 2024
What are the best DEXs to use in 2024? Here are the top 3 for June 2024!
November 17, 2022 12:01 AM
Binance Coin News Ticker – CryptoTicker
Binance Coin is the native coin of the world’s leading cryptocurrency exchange Binance. The coin is native on the Binance Chain, a centralized blockchain. The coin is also supported on the Binance Smart Chain, a new blockchain by Binance that […]
March 7, 2021 8:07 PM
Crypto Staking – The DEFINITE Guide on How to MAKE money staking
If you want to know how to make money with cryptos, this is your complete guide to staking on Binance & earn passive income. What is Staking?
August 30, 2020 8:16 AM
What is Binance Smart Chain?
In April 2020, Binance announced its new Binance Smart Chain. This new blockchain will work in parallel with the exchange’s primary blockchain, the Binance Chain. Both chains are being improved at exceptional speed. This post will take you through a […]
December 9, 2020 5:50 PM
Why Yearn Finance YFI Could Cross $50K This Dec With V2 Launch
The long awaited second iteration of yield farming and DeFi strategy platform Yearn Finance was launched on 7th Dec. In the coming weeks, it will be deployed gradually and it is being expected that the complete deployment would finish by the end of Dec 2020. Besides bringing major capability enhancements to the premier Decentralized Finance (DeFi) protocol and is highly likely to push the YFI price past $50K, if not more. Here's why.
June 16, 2026 4:38 PM
Top 3 Crypto Aggregators To Pick in 2026
To maximize yield and simplify the trading experience, Crypto aggregrators are an unparalleled choice in DeFi. Here are the top 3 choices.
February 18, 2024 11:00 PM
Grapes (GRAPE)Token: Live Trading on Bitget Now!
Grapes is poised to extend its influence beyond gaming, venturing. The new big thing: GRAPE Goes Live on Bitget
October 25, 2023 5:35 AM
A Detailed Guide on How to Grow Your Crypto Savings in the Next 12 Months!
Many investors are looking for ways to grow their crypto savings in the next 12 months. In this detailed guide, we will explore strategies.
August 11, 2022 2:17 PM
How to participate in ThorChain Liquidity Pool (Rune) To Make Money?
In this article, we will talk about how to participate in ThorChain liquidity pool, what impermanent loss is, what are liquidity pools
July 7, 2022 1:54 PM
How to use PancakeSwap – Guide
PancakeSwap has become the most famous decentralized exchange beating Uniswap. Here's a complete guide on how to use Pancakeswap.
March 17, 2022 10:17 AM
Will $ANC Boom In 2022? Enter The Anchor Protocol Project!
In this article, we will be taking a detailed look into Anchor Protocol to determine what traders can expect from the project in 2022.
October 26, 2021 12:42 PM
Huobi HECO Chain: What You Should Know About It
The network's growth brought exchange chains like Binance Smart Chain (BSC) and Huobi ECO Chain (HECO). Let's talk about HECO.
September 21, 2021 9:58 AM
How To Trade And Make Profits On PancakeSwap
Pancakeswap crypto was created in September 2020 on Binance Smart Chain. In this article, we will be looking at How to use Pancakeswap.
June 6, 2021 10:44 AM
Badger DAO – Dedicated DeFi Protocol For Tokenized Bitcoin
Badger DAO is the dedicated DeFi protocol for utilizing the tokenized Bitcoin on Ethereum based yield farming networks. How does it work?
March 11, 2021 6:55 PM
Your Definite Guide on How to use AAVE App
Aave is one of the fastest-growing Lending and Borrowing DeFi Platforms. Growth has been exceptional for the platform. How to use Aave App?
February 26, 2021 3:30 PM
The Simple Guide to Correctly Use SushiSwap
SushiSwap is a decentralized exchange based on Uniswap which has managed to reach hundreds of millions in trading volume, placing itself among the top DEX’s. If you have never used a decentralized exchange before, here you can find a complete […]
January 19, 2021 2:34 AM
What Is DeFi? – A Beginner’s Guide To 5 Core DeFi Protocols
Decentralized Finance (DeFi) protocols have come a long way from a few scattered vaguely known projects to multi-billion giants. These include a diverse group of protocols providing a single core functionality, experimental projects and those combining multiple core functionalities to create complex powerful platforms. In this article, we will have a look at the 5 core DeFi protocols.
October 6, 2020 6:16 PM
How To Build A Passive Income With DeFi on EOS
The DeFi world is growing from day to day. Ethereum is the leading blockchain when it comes to the amount of developers, DApps, and users. But DeFI is also growing on other blockchains, which have the privilege of picking successful […]
September 6, 2020 11:14 AM
SushiSwap Founder gives the Project Control to FTX CEO Sam Bankman-Fried
Chef Nomi, the anonymous founder of SushiSwap has given the project control of SushiSwap to FTX CEO, Sam Bankman-Fried. SushiSwap is in the middle of the migration and synthesis of innovations. Chef Nomi Tweeted: I'm transferring control to @SBF_Alameda now. […]
August 18, 2020 11:53 PM
DeFi Approaches $6.5 Billion TVL! Here Are The Top 5 Emerging Protocols
The rapidly progressing world of Decentralized Finance (DeFi) hit a new milestone as the Total Value Locked (TVL) figure appears to be fast approaching the psychological $6.5B mark. At the time of this writing, the TVL stands at $6.37B. The […]
August 4, 2020 11:32 PM
Top 5 DeFi Coins – DeFi Closes In On $4.5 Billion in TVL!
The relatively nascent, but incredibly growing and highly rewarding field of Decentralized Finance (DeFi) is currently closing in on $4.5B total value locked (TVL). At the time of this writing, the DeFi TVL has reached $4.27B and the biggest DeFi […]
July 22, 2020 1:37 AM
Akropolis Protocol Releases Delphi Prototype Ahead Of Mainnet Launch
The Akropolis Protocol released the Delphi prototype on Jul 21, ahead of the mainnet launch in Aug 2020. The Delphi module of the the Akropolis Protocol suite (apart from the AkropolisOS and Sparta products) focuses on the automated passive mixed […]
More from CryptoTicker