Binance Forays Into DeFi With Launchpool

It's just a matter of time until the Centralized exchanges and companies jump into the Defi yield farming space.

There are billions of dollars floating around there in the crypto defi space and it would be nonsensical to work in crypto and not have some sort of plan to jump into the game.

Binance's platform seems quite stupid to me though -- just my opinion.

Their new "Launchpool" platform is launching with something called the BEL token. At first, you might think that Binance would have the sense to launch with a decent project with good fundamentals..

well, It doesn't look like it.

"Binance said there are numerous benefits from holding and using $BEL tokens such as discounts for Bella services, staking, voting, and governance, and rewards." - Cointelegraph

Does this sound familiar?

Binance is quite literally backing the next shitcoin project to offer a governance token with basically 0 use case.

Perhaps this is different. I haven't looked at BEL specifically. This model is rampant in DeFI right now.. These coins launch with "governance capabilities" and a slick website and raise tens of millions of dollars.

It makes no sense.

Stay informed and don't fall for false hype - even if it's from Binance's mouth.

Posted Using LeoFinance ^Beta