Announcement on BEL Token Burn in 2021 Q3
Dear Bella community,
Since its official launch on February 8, Bella Protocol smart mining product Flex Savings v2 has been running safely and smoothly for nearly eight months, earning users a risk-controlled high return.
With our community’s enthusiastic support, the asset under management of Flex Savings is now over $26 million. As we mentioned before, We built a token burn program in Flex Savings v2: a percentage of the revenue generated through transaction and management fees will be used to buy back and burn $BEL tokens.
According to the fee structure, we will use 8% of the revenue generated by Flex Savings v2 to market-buy $BEL. Half of them will be temporarily kept in our marketing address and allocated to BEL stakers at the proper time. The other half will be sent to the 0xeeee address for a permanent burn.
In 2021 Q3, the team has repurchased a total of 3367.4 $BEL, worth nearly $5,320, and burnt a total of 1876.4 $BEL in five batches, worth over $2,965 at the current market price.
Below are the token buyback and burn hashes.
Note: For the convenience of query, we send the tokens to 0xeeee address for token burn instead of sending them to 0x0000 address, there’s not much of a difference.
The higher AUM of the Flex Savings v2 is, the more funds will be used to market-buy and burn $BEL, this will constantly reduce its circulation, protecting and ensuring the interest of $BEL holders. We sincerely invite you to try out Flex Savings v2, the Million-Dollar Yield Farming Incentives Program is in Round 7, join now and earn a triple reward! https://bellaofficial.medium.com/bella-flex-savings-round-7-incentives-plan-ddddfa447e62
Bella Protocol will continue to iterate our product and focus on ecological construction to bring more benefits to our supporters.
Bella is a suite of open finance products, including automated yield farming tools, BEL Locker, and Flex Savings. We believe everyone deserves equal access to premium financial products and services with elegant design and a smooth user experience.
Bella Protocol is backed by Binance Labs and Arrington Capital as lead investors. Other investors include Alphabit, AlphaCoin Fund, Koi Ventures, Ledger Capital, Tensor, N7 labs, Quest Capital, HBTC Labs, and more.
Bella brings your familiar mobile banking into crypto with just one click. With Bella, you can just simply sit back, watch your asset grow, and leave all the heavy-lifting to secure, automated smart contracts.
Bella’s core team consists of serial entrepreneurs and blockchain veterans who have tremendous experience and a proven track record in finance, cryptography, blockchain, and engineering.
For more information about Bella, or to join our team, please contact us at firstname.lastname@example.org
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