Following Binance and Huobi's announcements of "new token mining (Launchpool)" initiatives, OKEx CEO Jay Hao revealed via Weibo that its token launch platform "OK Jumpstart" will soon support similar mining programs. With all three major exchanges requiring platform tokens as participation tickets, could this spark another rally for exchange tokens?
IEO Revamped with DeFi Appeal
According to reports, Binance will launch a 30-day mining project on September 9, allowing users to stake BNB, BUSD, and ARPA to earn Bella Protocol (BEL) rewards. The BNB pool dominates with 90% of the allocation:
| Pool | Allocation (%) | Tokens Distributed |
|---|---|---|
| BNB | 90 | 4,500,000 BEL |
| BUSD | 9 | 450,000 BEL |
| ARPA | 1 | 50,000 BEL |
Bella Protocol (BEL) will also debut on Binance’s trading platform on September 16. The project aims to simplify DeFi access through integrated services like lending, one-click investments, and robo-advisory tools.
Huobi and OKEx Join the Race
Huobi launched two DeFi mining campaigns on September 7:
- Lockdrop Mining: Users stake HT (Huobi Token) or HPT (Huobi Pool Token) to earn CRV rewards.
- ACH Mining: Stake HT to mine Alchemy Pay (ACH), a crypto payment infrastructure token with a 10 billion total supply.
Meanwhile, OKEx announced its "Earn Product" integration with Compound, supporting BAT, DAI, ETH, and stablecoins. While distinct from its upcoming mining program, this move signals OKEx’s broader DeFi strategy.
👉 How OKEx’s Earn Product compares to Compound
Will Exchange Tokens Regain Momentum?
Despite DeFi’s dominance, exchange tokens have outperformed Bitcoin in 2020:
| Token | YTD Return |
|---|---|
| OKB | 103% |
| HT | ~85% |
| BNB | ~70% |
| BTC | ~45% |
By adopting DeFi-style listings, exchanges blend IEO familiarity with decentralized finance’s appeal. High Ethereum fees and DeFi complexity may drive users toward these hybrid models, potentially boosting demand—and prices—for platform tokens.
FAQs
Q: How does mining listing differ from IEO?
A: Mining listings let users stake tokens to earn new projects’ coins, while IEOs involve direct sales. Both require holding exchange tokens.
Q: What risks come with staking in these programs?
A: Price volatility and smart contract bugs could affect returns. Always assess project fundamentals.
Q: Will OKB’s price rise if OKEx launches mining?
A: Increased utility and demand may positively impact OKB, but market conditions play a key role.
Risk Warning
Cryptocurrency investments are high-risk. Prices can fluctuate wildly, and you may lose all capital. Invest cautiously.