Bella Protocol Price (BEL)

What Is Bella Protocol (BEL)?

Bella Protocol is a platform that provides a suite of DeFi products designed to make crypto banking simpler and more accessible. The protocol aims to create a better user experience by eliminating the high fee and slow transaction issues that can affect some blockchain platforms — while simultaneously improving the user experience through its simplified DeFi smart portal.

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

The project launched in September 2020 as the first project distributed via Binance’s Launchpool platform, and has secured investments from several prominent firms, including Arrington XRP Capital and Ledger Capital.

The protocol was built by the ARPA team, a blockchain-based layer 2 solution for privacy-preserving computation. The BEL token is an essential component of the Bella Protocol ecosystem and serves as both a reward token that allows holders to participate in the governance of the platform.

BEL can be used to farm fee rewards from the network, get exclusive discounts on Bella protocol products (such as its robo-advisor tool), and for earning staking rewards.

Who Are the Founders of Bella Protocol?

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

Felix Xu is the CEO of Bella and also the co-founder of ARPA, a privacy-preserving blockchain platform that incubated the Bella Protocol. Felix has several years of experience as a venture investor and analyst and is a veteran of the financial industry. Yemu, on the other hand, is a heavily experienced entrepreneur, with a history of analyst and consultant roles.

The rest of the Bella team overlaps with that of ARPA, which is composed of more than a dozen employees with a range of backgrounds in blockchain, finance, and product development.

What Makes Bella Protocol Unique?

One of Bella Protocol’s main features is its simplified user experience and wide variety of products.

The platform consists of the following main products: the Bella Liquidity Mining platform, flexible savings, a one-click smart portal to deploy assets with zero gas fees on popular and profitable DeFi products, a lending platform, and the Robo-Advisor — which can be used to help with the investment selection process.

Despite launching in September 2020, all of these products are already operational.

The platform is supported by BEL token holders, which are able to contribute to the governance of the platform by voting on potential upgrades, releases, and other parameters. It also serves as a reward for users that participate in staking — among other things.

Bella Protocol is a strategic move made by ARPA in order to extend its growing community into the DeFi sector through its familiar and simple to use mobile banking application.

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How Many Bella Protocol (BEL) Coins Are There in Circulation?

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

A large proportion of the initial supply was distributed via a Binance Launchpool, with 5% of the total supply allocated to participants. In addition, 6% of the total supply was sold in a private sale and 2% was sold through a public auction.

The private sale price was $0.75 per token and was conducted on August 18th, 2020 selling 6,000,000 BEL to raise $4.5 million.

Beyond this, 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 ~2025.

How Is the Bella Protocol Secured?

The BEL token is an ERC-20 token that is secured by the Ethereum network. This is secured by currently secured by an extensive mining network, which acts to ensure the network remains in consensus about which transactions are valid, and which are not.

Right now, Ethereum uses the proof-of-work (POW) consensus algorithm to maintain its integrity, but this will gradually be transitioned to proof-of-stake (POS) with the release of Ethereum 2.0.

The benefit of using a well-established blockchain like Ethereum is that there are already more than 10,000 nodes in operation, helping to keep the network running smoothly.

Where Can You Buy Bella Protocol (BEL)?

As of December 2020, Binance is by far the most liquid exchange for BEL. Beyond this, the token is available to trade at a variety of other exchange platforms, including MXC, Hotbit, and Binance Korea. The most popular trading pairs are BEL/USDT and BEL/BTC.

If you’re looking to purchase BEL or other cryptocurrencies with a credit or debit card, check out our simple guide to get started.