It’s safe to say the future of finance is DeFi. DeFi, short for decentralized finance, is not only the idea of a democratized finance system but one with new and bold propositions for users. Blockchain-based finance will phase out intermediaries and inject transparency and fairness into the system.
Bella is one of the projects in the middle of the DeFi action. It provides an array of DeFi products to benefit users and push DeFi into the mainstream.
The Bella team believes “users deserve much better mobile products with elegant design and smooth user experience.” It aims to avail crypto to mobile – the gadgets we most interact with – like never before.
Bella stands out as the first DeFi project hosted by Binance’s Launchpool platform – an initiative by the world’s largest crypto exchange to actualize the DeFi concept to Binance users.
Breaking Down Bella
Bella Protocol is a suite of DeFi products such as yield farming, automated lending, one-click savings, a robot advisor, and more. The Bella team wants to make crypto investment more accessible for everyone with the aid of automated smart contracts and the security of the blockchain.
The Bella team wants to correct the current situation in which users are barred from entering DeFi by high gas fees, slow speeds, and poor user experiences. On Bella, users can simply deposit crypto and gain back high returns.
The Bella team comprises blockchain veterans with years of experience in finance, cryptography, and engineering. Bella has been imagined by the same team behind the ARPA project.
Motivation Behind the Bella Protocol
The Bella team wants to address certain pain points that encumber the DeFi space right now. Thus, Bella protocol development is guided by the following:
- DeFi is a trillion-dollar market whose rise is much due to stablecoins
- Despite all the hype and buzz, just 1% of crypto users are actively engaged in DeFi.
- DeFi users still have to grapple with things like high gas fees, poor user experience, and the complexity of smart contracts.
- DeFi users are highly motivated by the promise of high yields through liquidity mining.
- There’s a need for interoperability across various DeFi platforms for the best user experience.
- The mobile phone will be the next big thing in both DeFi and CeFi (centralized finance)
#1. Liquidity mining: Users can stake in a variety of crypto tokens and gain BEL rewards. Currently, you can stake in Curve ARPA/USDC, BEL/USDC Liquidity Provider tokens.
#2. Flex savings: Bella supports optimized arbitrage yield farming strategies for both stablecoins and cryptocurrencies.
#3. One-Click Asset Deployment.
#4. Bella supports a smart portal for deploying popular DeFi products with minimal gas fees.
#5. Lending: Bella supports flexible, secure, decentralized money markets where users can earn yields from staking, earn referral bonuses, and more.
This tool generates customized user risk profiles of indexes, stablecoins, and other crypto assets.
Main Features of Bella Protocol
Bella plays heavily into automation. It enables a one-click investment process, where you can “sit back and watch your assets grow” while the code does all the work.
#2. Very Minimal to Zero Gas Fees
The Bella team believes everyone should have access to premium financial services. As such, you’ll encounter very minimal to zero gas fees while interacting with the platform.
#3. Best Yield
Bella wants the particles to be a route for some of the best competitive returns in the market.
The BEL Token
BEL is the native cryptocurrency of the Bella ecosystem, and it plays the following roles:
- Fee Collection: Part of transaction and service revenue from the ecosystem will be channeled towards BEL token stakers, referral channels, operations, and the risk reserve (an insurance resolve of salts to composite uses in the event of security breaches)
- Discounts: BEL token holders get to enjoy discounts on services. For example, if you use the robo advisor and pay in BEL, you pay less.
- Staking: Users will be able to earn staking rewards when they hold BEL tokens
- Voting and governance: Holding BEL tokens will entitle users to make their voice heard on major decisions such as product upgrades, new releases, partnering products, and so on
Distribution of BEL
BEL tokens were distributed this way:
- Binance launchpad tokens: : 5%
- Private sale: 6%
- Public auction tokens: 2%
- Ecosystem tokens 18%
- Project reserve tokens: 4%
- User growth tokens: 40%
- Staking rewards tokens: 10%
- Team tokens: 15%
Bella Community Growth Strategies
The Bella team plans to implement several strategies in a bid to expand its community growth in the coming months and years. Current strategies include:
- Carrying out token auctions
- Carrying out token airdrops to ARPA token holders
- Actively engaging the community on social media platforms.
- Launching the liquidity rewards program
Future strategies include the following:
- Partnering with other DeFi lending protocols to push BEL usage
- Partnering with decentralized exchanges (DEXes) so they can list BEL.
- Collaborating with other DeFi platforms for BEL to be accepted as part of incentivized staking pools
- Launching the Flex Savings and One-Click Portal to push the referral program
- Enabling Fiat gateways to cater to a wider user base
Tokenomics of BEL
As of October 8, 2020, BEL is trading at $1.08, with a market cap of $15,648,898, which places it at #381 in the crypto market. The token has a 24-hour volume of $3,960,114, a circulating supply of 14,500,500, and a total and maximum supply of 100 million. BEL’s all-time high was $10.03 (Sep 15, 2020), while its all-time low was $1.20 (Oct 03, 2020).
Buying and Storing BEL
Currently, BEL is listed in Binance, Binance.KR, MXC, and Bilaxy, BKEX, HotBit, BitAsset, and Fatbtc. You’ll find the token paired against either USDC, BTC, BNB, BUSD, USDT, and more.
You can store BEL tokens in either of several great wallets, including Ledger, Trezor, Atomic Wallet, Trust, and more.
Bella is a DeFi lending protocol that seeks to differentiate itself by offering services for very little to no fees, a robo advisor to help users make the best out of their portfolio, and by targeting mobile users. And while other DeFi projects seek to avoid the CeFi space as much as possible, Bella works with it to provide a hybrid experience to users. Will these factors propel the protocol ahead or not? That remains to be seen.