Binance's own yield farming and swap platform

[Bttzed03]

Binance call it "Launchpool". How it works? Investors are required to stake a certain amount of BNB, BUSD, or other accepted crypto into their pool in return for new token as rewards.

Not long ago, I said in a separate topic that top CEX are on a race to list the most DEFI tokens. Well, Binance has once again upped their game to take a larger piece of the pie.


I was gonna hit the post button but I just saw another one of their new product. It's called "BSwap" 
Needless to say, it's created to compete with Uniswap and other "____swap exchanges".

CZ competing with Justin for the copycat king title.

Code:

https://www.binance.com/en/support/articles/372ac176ec224df7bb53654861555ac3
https://www.binance.com/en/support/announcement/dc8f28e7a98d4534ad3db88d351200fb

[bL4nkcode]

CZ competing with Justin for the copycat king title.

As long it's for the profit of their business, then why not. lol.

I'm not really into this DEFI trend, listing tokens after 2-3 days it was launched? it's overhyped.

[The Sceptical Chymist]

This is all to make a decentralized trading platform on the back of a centralized trading platform (Binance) if I'm not mistaken?  My understanding of DeFi isn't all that deep, but I sort of see what Binance is doing here, and I watched their BSwap explanation video.

It'll be interesting to see if things like this are successful or not.  I suspect at least with Binance, there will be a lot of their customers wanting to try it out, and there's a low chance that it's anything like a shit exchange like Yobit would offer, so that's a plus.

Not long ago, I said in a separate topic that top CEX are on a race to list the most DEFI tokens.

How many tokens would Binance need to create for the services you've listed?  I see they're creating BEL for the Launchpool trading pairs, but would there need to be more tokens created for other pairs? 

[logfiles]

Binance call it "Launchpool". How it works? Investors are required to stake a certain amount of BNB, BUSD, or other accepted crypto into their pool in return for new token as rewards.

I don't really understand the point one staking the BNB or BUSD that has value in exchange for another newly generated token as reward which we are not even sure will have value.
Imagine staking your  hard-earned BNB for 6 Months only to receive a new shitcoin that then dumps to zero value.

I was gonna hit the post button but I just saw another one of their new product. It's called "BSwap" 
Needless to say, it's created to compete with Uniswap and other "____swap exchanges".

Their DEX has never been up to the game to this date, I don't think the "Bswap" or whatever they call it will out do uniswap. Maybe it's best they just stick to the CEX.

[khaled0111]

It looks like Binance are trying to dominate the cryptocurrency market by all means.
They first launched their DEX which no one believes it's a truly decentralized exchange, then we all heard the news about their acquisition of CoinMarketCap.
After that, they started their own mining pool and now this!
What's going to be next?

[Darker45]

CZ competing with Justin for the copycat king title.

They are of the same feather. And blood. Although CZ looks more hardworking to me than Justin. He's copying a lot and fast.

He started with his own CEX, proceeded to create his own token, his own DEX, and then he created his own blockchain, his own stablecoin, his own IEO platform, and so on. He then purchased coinmarketcap and then he started his own mining pool and now create his own BSwap. This is just to name a few. However, you would wonder how many of these countless creations are originally his to begin with.

His #buidl is a total failure as he cannot seem to start to build without taking a concept or an idea of another.

What's going to be next?

I am honestly looking forward to a Binance casino and betting site or perhaps Binancetalk.org.

[joniboini]

Let's see whether people love to trust exchange and repeat what happened with the Steem saga, or will they decide to fuck off and join the 'decentralized gang'.

I wonder just how many human power Binance has that makes them try to penetrate every market.

[sunsilk]

Before, CZ has mentioned about the factors that will make a project listed to his exchange. Now, those words look like won't be followed anymore.

As long as a Defi is gonna rake them profits, he'd be happy to list it. And with this new feature, they've added. They're making other rounds of hype in crypto investing.

[figmentofmyass]

This is all to make a decentralized trading platform on the back of a centralized trading platform (Binance) if I'm not mistaken?

bella (and others) are just using binance as a platform to airdrop their "utility" tokens. for the token issuer, it's like an IEO in the sense that it's very big exposure for their platform launch. for binance, it works because they're creating supposed "utility" for the BNB ecosystem.

what CZ is really doing is pumping the price of BNB. 90% of the BEL rewards to be released in this staking scheme are for BNB stakers. he's leveraging defi hype to suck BNB supply off the market and into staking pools.

BNB pumped 25% on this news.

[Slow death]

CZ competing with Justin for the copycat king title.

 

see that the CZ acquired the CoinMarketCap and with this news that you talked about it will only be missing the CZ also decide to enter the mining and mining equipment creation business, at that time he will become jihan wu 2.0 and the world of cryptocurrencies will be going to the path where those who have a lot of money will accumulate a lot of power and will control almost everything. are we really going in the direction of decentralization or are we going to a path where only a small group of people will have immense power to control everything?

[Bttzed03]

This is all to make a decentralized trading platform on the back of a centralized trading platform (Binance) if I'm not mistaken?  My understanding of DeFi isn't all that deep, but I sort of see what Binance is doing here, and I watched their BSwap explanation video.
 
It'll be interesting to see if things like this are successful or not.  I suspect at least with Binance, there will be a lot of their customers wanting to try it out, and there's a low chance that it's anything like a shit exchange like Yobit would offer, so that's a plus.

Well, kind of. He's looking to challenge what DEFI brings with Binance's CEFI right now. With BSwap, it could gain some users because trading on Uniswap is made difficult by the high gas fees especially for small to medium traders.

CZ managed to build Binance to where it is now but some of its products like BDEX is still a flop. BSwap and CEFI will probably become more successful but that still depends on how long the hype phase will be. Let's see.

~
How many tokens would Binance need to create for the services you've listed?  I see they're creating BEL for the Launchpool trading pairs, but would there need to be more tokens created for other pairs? 

I'm not sure I understand your question correctly. New tokens are usually paired with already known coins/tokens.

~
I don't really understand the point one staking the BNB or BUSD that has value in exchange for another newly generated token as reward which we are not even sure will have value.
Imagine staking your  hard-earned BNB for 6 Months only to receive a new shitcoin that then dumps to zero value.

On the other hand, it could pump 1000%. I think that's what they're after. Nothing particularly risky with it if they have extra BNB to spare. Locking them up into these staking pools could increase BNB's value too (read @figmentofmyass post).

Before, CZ has mentioned about the factors that will make a project listed to his exchange. Now, those words look like won't be followed anymore.

As long as a Defi is gonna rake them profits, he'd be happy to list it. And with this new feature, they've added. They're making other rounds of hype in crypto investing.

^ tweet has been deleted but yeah what factors?