How Bella Protocol Operates?
What is Bella Protocol?
Bella Protocol (BEL) is a decentralized finance (DeFi) platform offering a range of products to streamline and enhance crypto banking. The protocol addresses common issues like high fees and slow transactions on certain blockchain platforms, providing users with a more user-friendly experience through its simplified DeFi smart portal.
Who are the Founders of Bella Protocol- BEL?
Co-founded in 2020 by Felix Xu and Yemu Xu, Bella Protocol’s leadership includes Felix, also the CEO of Bella and a co-founder of ARPA, with extensive experience in venture investment. Yemu, an accomplished entrepreneur, has a history in analyst and consultant roles. The rest of the team shares backgrounds in blockchain, finance, and product development with ARPA.
What are the Working Principles of Bella Protocol-BEL?
One notable feature is Bella’s smart pool, enabling users to access optimal yields in the DeFi market while benefiting from nearly zero gas fees, subsidized directly by the platform. Launched in September 2020 via Binance’s Launchpool, Bella Protocol garnered investments from prominent firms such as Arrington XRP Capital and Ledger Capital. Developed by the ARPA team, known for its privacy-preserving layer 2 solution, BEL is a vital component of Bella Protocol, serving as a governance token and a reward token.
Bella Protocol stands out due to its user-friendly interface and a diverse product range, including the Bella Liquidity Mining platform, flexible savings, a one-click smart portal for deploying assets on DeFi products, a lending platform, and the Robo-Advisor for investment selection. Despite its 2020 launch, all these products are already operational.
What is the Total Volume of BEL Token in Circulation?
The BEL token, with a total supply of 100,000,000 BEL and an initial circulating supply of 13,250,000 BEL, plays a crucial role. A substantial portion of the initial supply was distributed via Binance Launchpool, private sale, and public auction. The token is used for governance, staking rewards, and offers exclusive discounts on Bella Protocol products.
How Secured and Protected is Bella Protocol (BEL)?
Secured as an ERC-20 token on the Ethereum network, BEL benefits from Ethereum’s robust network, with over 10,000 nodes ensuring smooth operations. While currently utilizing proof-of-work (POW), Ethereum plans to transition to proof-of-stake (POS) with Ethereum 2.0.
Where can I Traded BEL Coins?
Binance is the primary exchange for BEL, providing liquidity, and the token is also tradable on platforms like MXC, Hotbit, and Binance Korea. Notably, popular trading pairs include BEL/USDT and BEL/BTC.
