Bella Protocol offers an array of decentralized finance (DeFi) products designed to make crypto banking more user-friendly and accessible. It addresses high fees and slow transactions that are typical on some blockchain platforms, aiming for an enhanced user experience through a streamlined DeFi smart portal.
It includes a smart pool feature that lets users tap into the best yields in the DeFi market while enjoying nearly zero gas fees, which the platform itself subsidizes.
Launched in September 2020 as the inaugural project on Binance's Launchpool, Bella Protocol has attracted investments from major firms like Arrington XRP Capital and Ledger Capital.
Developed by the ARPA team, known for creating a layer 2 blockchain solution focused on privacy-preserving computation, the BEL token is integral to Bella Protocol. It acts as a reward token and enables holders to take part in the platform’s governance.
BEL tokens can be used to earn fee rewards from the network, enjoy exclusive discounts on Bella Protocol's offerings (including a robo-advisor tool), and accrue staking rewards.
Who Are Bella Protocol's Founders?
Bella Protocol was co-founded in 2020 by Felix Xu and Yemu Xu.
Felix Xu serves as Bella's CEO and is also a co-founder of ARPA, a blockchain platform that focuses on privacy and was instrumental in launching Bella Protocol. He has extensive experience as a venture investor and analyst, with a strong background in the financial sector. Yemu Xu, his co-founder, is an experienced entrepreneur with numerous analyst and consultant roles under his belt.
The Bella team largely overlaps with ARPA's, comprising over a dozen professionals with expertise in blockchain, finance, and product development.
What Distinguishes Bella Protocol?
Bella Protocol stands out with its focus on user-friendly interfaces and a diverse array of products.
The platform features several key products: the Bella Liquidity Mining platform, flexible savings options, a one-click smart portal enabling asset deployment at zero gas fees on popular DeFi products, a lending platform, and the Robo-Advisor for assisting in investment choices.
Even though it only launched in September 2020, all these offerings are fully operational.
BEL token holders play a significant role in the platform by voting on upgrades, releases, and other governance-related decisions. They also receive rewards for participating in staking activities.
Bella Protocol represents ARPA's strategic initiative to expand its community into the DeFi space with an easy-to-use mobile banking app.
What Is the Circulating Supply of Bella Protocol (BEL) Coins?
Bella Protocol has a capped supply of 100,000,000 BEL tokens, beginning with an initial circulation of 13,250,000 BEL.
A significant portion of this initial supply was distributed via a Binance Launchpool, with 5% allocated to participants. Additionally, 6% was sold through a private sale, while 2% was available in a public auction.
The private sale, held on August 18th, 2020, priced each token at $0.75, leading to the sale of 6,000,000 BEL and raising $4.5 million.
Moreover, 18% is set aside for ecosystem development, 4% for reserves, 40% for user growth, 10% for staking incentives, and 15% for the team. The full release of BEL tokens is projected to be complete by around 2025.
How Is Bella Protocol Secured?
BEL tokens, which are ERC-20 tokens, are safeguarded by the Ethereum network. This network is maintained through a vast mining network that keeps the system in consensus on valid transactions.
Currently, Ethereum relies on the proof-of-work (PoW) consensus mechanism, but it will gradually shift to proof-of-stake (PoS) as part of the Ethereum 2.0 upgrade.
Utilizing an established blockchain like Ethereum ensures reliability, as over 10,000 nodes are operational, ensuring smooth functionality.
Where Can You Purchase Bella Protocol (BEL)?
As of December 2020, Binance is the primary exchange for trading BEL. Beyond Binance, the token is also available on various other exchanges, such as MXC, Hotbit, and Binance Korea. The most common trading pairs for BEL are BEL/USDT and BEL/BTC.
If you're interested in buying BEL or other cryptocurrencies using a credit or debit card, check out our easy-to-follow guide to get started.
