Announcement on BEL Token Burn in 2021 Q4
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 eleven months, earning users a risk-controlled high return.
With our community’s enthusiastic support, the asset under management of Flex Savings is now over $30 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 Q4, the team has repurchased a total of 3200.96 $BEL, worth nearly $4300, and burnt a total of 1600.48 $BEL in five batches, worth around $2150 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 11, join now and earn a triple reward:
Bella Protocol will continue to iterate our product and focus on ecological construction to bring more benefits to our supporters.
About Bella
Bella Protocol is a suite of open finance products that aims to bring mass adoption to DeFi asset management. Bella’s first yield product, Flex Savings v2 is live on Ethereum with $40 million TVL. Bella’s core team is creating Bella Virtuoso, a permissionless strategy platform that connects investors with the best LP strategies on Uniswap V3. Bella Virtuoso also comes with built-in backtesting tools and data infrastructure for strategy builders.
Bella Protocol is backed by Binance Labs and Arrington XRP Capital and several other renowned investors. BEL token is supported on Binance, Bithumb and other major exchanges.
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 contact@bella.fi
Learn about Bella’s recent official news：
Medium: https://medium.com/@Bellaofficial
Twitter: @BellaProtocol
Telegram: https://t.me/bellaprotocol
Discord: https://discord.gg/JamMH5P
