The Bella Protocol is a system that makes provision of a suit for DeFi products which is designed to make cryptocurrency banking generally more accessible and easier for everyone. The aim of the system is directed towards creating an improved user experience, by eliminating the problem of slow transactions and high fees facing the blockchain industry at large. The platform is able to make these improvements to its user experience via its simplified DeFi smart portal.
The smart pool used by the Bella network provides its participants with access to the best yields available in the Defi market, in addition to enjoying zero gas fees because the platforms are directly subsidized.
The provisions made for the participants on the network are not limited to automated yield farming tools, the platform also other tools. These include its 1-click savings account, as well as its lending protocol and a customized Robo-advisory which is equipped with a more elegant and seamless user experience. According to the concept employed in the design of Bella’s 1-click platform, it is aimed at converting data and information into actionable plans, catering to both new and experienced users, as well as automating everything possible.
Who are the Founders of Bella Protocol (BEL)?
The Bella Protocol was created by the ARPA team which essentially consists of a layer 2 solution for the promotion of privacy preservation that is based on its blockchain.
The Network was co-founded by a group of individuals in 2020 consisting of Felix Xu and Yemu Xu and has its headquarters situated in China. Currently, Felix Xu serves as the CEO of the Bella platform and is also co-founder of the ARPA system, which is a subsidiary platform incubated by the Bella protocol with its focus on preserving the privacy of the participants. Felix has years of experience on his belt and is generally considered a veteran of the financial sector. His partner, Yemu on the other hand is a serial entrepreneur with years of experience. He has also served in the capacity of an analyst and a consultant in several industries over the years.
The remainder of the individual participants of Bella’s team extends to the ARPA platform and is composed of over a dozen individuals with ranging backgrounds from finance and product development to blockchain technology.
What is Bella Protocol (BEL) used for?
The Bella network as it is serves a series of purposes in the financial part of the blockchain industry. The technologies provided by the Bella protocol cut across its project matrix. These include a lending system that features a decentralized and flexible market where there are avenues for pools of liquidity for different tokens, referral bonuses, and liquidity mining. It also provides a flex saving option which consists of a series of arbitrage services in protocols for the highest yield, as well as support for several stable coins and some upcoming cryptocurrencies.
The Bella protocol has a dedicated cryptocurrency token known as BEL which is an essential component of its ecosystem and serves the purpose of being both a reward token and also allows for active governance participation by holders of the token. Additionally, it can also be exchanged with other cryptocurrency pairs in the open cryptocurrency market such as the AMP token to earn a profit for its holders. The BEL token also has the feature of being used in the farming of fee rewards from the network, as well as obtaining exclusive discounts on products of the Bella protocol.
What Is the Unique Point of Bella Protocol (BEL)?
One of the main selling points of the Bella Protocol is its provision of a simplified user experience in addition to its offering of a wide range of products. The platform comprises a series of specialized products including adaptable savings, its liquidity mining platform, profitable decentralized financial products, its Robo-advisory, and its lending system. The platform also provides a portal Avenue that allows participants to deploy assets with zero or menial gas fees of popular platforms. All of these products generally improve the execution of business operations in the world of blockchain technology.
Even though the Bella protocol was launched in September 2020, its had all of its products operational in only a short period after its official launch.
Bella protocol is upheld by holders of the BEL token and as such, they make contributions to parameters being deployed on the network such as upgrades in its system or the release of a beta version. It is also used in the rewarding process for participants who have staked tokens in the past. In general, the Bella Protocol is a strategic movement made by the ARPA platform targeted at extending its growing community to incorporate DeFi protocols through its already familiar automated and easy-to-use mobile banking system.
How many Bella Protocol (BEL) coins are in circulation?
The Bella protocol has its total supply pegged at 100,000,000 BEL tokens and initially, after its launch, it had a circulating supply of 13,250,000 BEL tokens.
In the early days of its launch, a great percentage of its initial supply was allocated through the Binance Launchpool and had 5% of its total tokens assigned to the network participants. Additionally, 6% was sold to private investors and a further 2% was sold via a public auction. As at the time of the private sale, its price was pegged at $0.75 per token and it was executed in August 2020 and resulted in the sale of over 6,000,000 BEL tokens which raised $4.5 million.
Apart from the sales executed, the Bella ecosystem kept 18% of the tokens in reserve for its use, 40% for the growth of users, 15% for its team, and 10% for staking rewards for the participants. Based on the figures of its token release, the platform is expected to reach complete dilution by 2025.
Is the Bella Protocol (BEL) Network secured?
The Bella token Bella Protocol token system is operated under Ethereum’s ERC-20 token system and as such is secured by its network. The current security measure used on the network involves an extensive mining network of nodes that have the responsibility of ensuring the network is constantly in consensus about the validity of all the transactions being executed on the network.
Currently, the Ethereum network is operated by a proof of work consensus algorithm which maintains its integrity but is gradually undergoing a transition to a dedicated proof of stake consensus algorithm upon the release of Ethereum 2.0. A major advantage of using an established blockchain like the Ethereum network is that it already has over 10,000 nodes that are simultaneously in operation to keep the network running smoothly.
How do I buy Bella Protocol (BEL)?
The use of the Bel Protocol has grown extensively over the short period of its operation due to the series of advantages and products it provides for the participants on the network. It also brings an innovative form of banking to the world of cryptocurrencies that can be easily accessed by any interested individual. As such, these factors have contributed to the increase in its availability across several exchanges such as Binance and KuCoin among several others. To buy BEL tokens, the steps below provide the right direction to purchasing its tokens.
* Open an account with the crypto trading platform.
* Transfer the specific amount of your fiat currency to your account.
* Wait for your deposit to be confirmed and Buy BEL through your trading account.
Which Cryptocurrency Wallet Supports Bella Protocol (BEL)?
The PTPWallet platform supports many cryptocurrencies simultaneously such as Bel Protocol (BEL). Because of its vast use case, it has grown to become one of the most used platforms as it serves as an exchange and an engine to discover other cryptocurrencies. Additionally, users can easily use PTPWallet as their Bel Protocol wallet because offers a simple and interactive interface making it easy for people to navigate its system.
