Bella Protocol Price Chart Update [BEL]

Bella Protocol: Simplifying Crypto Banking

Bella Protocol is a platform that offers a range of DeFi products aimed at making crypto banking more accessible and user-friendly. The goal of Bella Protocol is to improve the user experience by addressing issues such as high fees and slow transactions that can impact certain blockchain platforms. In addition, Bella Protocol provides a simplified DeFi smart portal to further enhance the user experience.

Bella Protocol's smart pool feature allows users to access the best yields available in the DeFi market while benefiting from almost zero gas fees, as these fees are directly subsidized by the platform.

The project was launched in September 2020 as the first project distributed through Binance's Launchpool platform. It has received investments from prominent firms like Arrington XRP Capital and Ledger Capital.

The protocol was developed by the ARPA team, known for its blockchain-based layer 2 solution for privacy-preserving computation. The BEL token plays a crucial role in the Bella Protocol ecosystem, serving as a reward token that allows holders to participate in the platform's governance.

BEL can be used to farm fee rewards from the network, obtain exclusive discounts on Bella Protocol products (such as the robo-advisor tool), and earn staking rewards.

The Visionaries Behind Bella Protocol

Bella Protocol was co-founded by Felix Xu and Yemu Xu in 2020.

Felix Xu, the CEO of Bella and co-founder of ARPA, brings years of experience as a venture investor and analyst, making him a veteran in the financial industry. Yemu Xu, on the other hand, has a wealth of experience as an entrepreneur, having held various analyst and consultant roles.

The Bella team shares many members with the ARPA team, consisting of over a dozen employees with diverse backgrounds in blockchain, finance, and product development.

Bella Protocol: A Unique Approach to DeFi

Bella Protocol distinguishes itself through its simplified user experience and wide range of products.

The platform offers several main products, including the Bella Liquidity Mining platform, flexible savings, a one-click smart portal for deploying assets on popular and profitable DeFi products with zero gas fees, a lending platform, and the Robo-Advisor, which assists with investment selection.

Despite being launched in September 2020, all of these products are already fully operational.

BEL token holders play a crucial role in supporting the platform. They can contribute to the platform's governance by voting on potential upgrades, releases, and other parameters. The token also serves as a reward for users participating in staking and other activities.

Bella Protocol is a strategic move by ARPA to expand its growing community into the DeFi sector through a familiar and user-friendly mobile banking application.

Bella Protocol (BEL) Coin Supply

Bella Protocol has a total supply of 100,000,000 BEL tokens, with an initial circulating supply of 13,250,000 BEL.

A significant portion of the initial supply was distributed through a Binance Launchpool, with 5% of the total supply allocated to participants. Additionally, 6% of the total supply was sold in a private sale, and 2% was sold through a public auction.

The private sale took place on August 18th, 2020, with a price of $0.75 per token. It raised $4.5 million by selling 6,000,000 BEL.

Furthermore, 18% of the total supply is reserved for the ecosystem, 4% for the reserve, 40% for user growth, 10% for staking rewards, and 15% for the team. Based on the expected rate of token releases, the BEL token should reach full dilution by approximately 2025.

Securing the Bella Protocol

The BEL token is an ERC-20 token secured by the Ethereum network. Ethereum is currently secured by an extensive mining network, which ensures consensus on valid transactions.

Ethereum currently uses the proof-of-work (POW) consensus algorithm to maintain its integrity, but it will gradually transition to proof-of-stake (POS) with the release of Ethereum 2.0.

The advantage of using an established blockchain like Ethereum is that there are already over 10,000 nodes in operation, contributing to the smooth operation of the network.

Where to Buy Bella Protocol (BEL)

As of December 2020, Binance is the most liquid exchange for BEL. Additionally, the token is available for trading on various other platforms, including MXC, Hotbit, and Binance Korea. The most popular trading pairs are BEL/USDT and BEL/BTC.

If you're interested in purchasing BEL or other cryptocurrencies using a credit or debit card, refer to our simple guide to get started.