Bella Flex Savings v2 is Here
Dear Bella Community,
We are absolutely thrilled to announce that Bella Protocol smart mining product Flex Savings v2 will be officially released on Ethereum Mainnet today at 8 pm (UTC+8). Everyone is welcome to visit fs.bella.fi and start generating effortless earnings!
Click here for a Tutorial on Flex Savings v2
Click here for Flex Saving v2 contract addresses
What You Can Expect in v2
As a DeFi protocol trusted by the community and backed by some of the best investors in the industry, including Binance Labs and Arrington XRP, Bella protocol strives to build safe, easy-to-use products and eventually bring mass adoption to DeFi. Flex Savings v2 has a number of features and security upgrades that we would like to emphasize below:
Optimized Portfolio Strategies
Our smart contracts will adjust the investment strategies to optimize the portfolio for you. Our team and Bella community will constantly re-evaluate, upgrade, and implement yield farming strategies for the best risk-adjusted return.
Gas Fee Saver
Gas fees are sky-rocket expensive these days as the Ethereum ecosystem flourishes. It can cost as high as $500 USD in gas to deposit, claim the reward, and withdraw from protocols such as Curve.fi. With Flex Savings v2, users can expect to save up to 90% of the gas expense thanks to our built-in yield aggregation mechanisms.
Auto Reinvest & Compounded Return
All your returns will be automatically reinvested into underlying protocols to compound your returns! The v2 smart contracts will take care of this step regularly to balance the transaction cost and revenue, so users can generate more than the expected amount.
Higher Return for Staking Vesting Period
In encouragement, the longer vesting period that you choose to stake, the more return Flex Savings v2 will generate for your portfolio. This is our gift for your trust in Bella Protocol. So to ensure you maximize returns, staking longer vesting periods accordingly will be a way to build up your portfolio.
Low Management Fee
Our management fees are lower than the industry average. The rate is 0.25% flat for the Bella Protocol smart-mining Flex Savings v2 product (only charged at withdrawal)
And of Course, Token Burn!
We built in a token burn program in Flex Savings v2. There will be fewer and fewer BEL tokens left in circulation as Flex Savings gets used more. Below is a preliminary fee structure for Bella Flex Savings. Please note that these are subject to change through community governance.
- A management fee of 0.25% on the bToken withdrawal amount
- 20% of the Flex Savings interest income will go to Core Team as a risk reserve fund and development fund
- 4% of the Flex Savings interest income will be used to market-buy BEL, which will be then allocated to BEL stakers (coming soon)
- 4% of the Flex Savings interest income will be used to market-buy BEL. These BELs will then be sent to the 0x0000 address and permanently burnt.
Yield Farming Incentives Program
We have allocated a total of 500,000 BEL to bootstrap with initial liquidity and jump-start the Flex Savings product. These tokens will be distributed to users who stake bTokens with Bella Farm.
The interest-bearing bToken represents the ownership of the native token. By staking your crypto assets into Bella Flex Savings v2, you will get bToken in return. The more you stake, the more bTokens you will get. However, please note that the amount of bToken issued will not be 1:1 to the dollar value of the token staked. We expect the all-in APY (native APY + APY with BEL incentives) to be much higher than the current industry standard. Read more about it here
Total reward:
500,000 BEL (worth over $1,300,000 at current market price, as of Feb 8, 2021)
The total reward for the first week will be 100,000 BEL, rewards for the second week and onwards will decrease by 15% every week. Subsequent adjustments may be made according to the market condition and TVL.
Estimated Duration:
8 weeks. From February 8th, 2021 at 8 PM (UTC+8) to April 4th, 2021 at 8 pm (UTC+8)
Supported Pool:
The first batch of pools including bUSDT, bUSDC, bARPA, more will be added depending on the market condition and voices from the community.
Details on Week 1 Incentives:
Total rewards for week 1: 100,000 BEL
Duration: Feb 8th, 2021 (8 pm UTC+8) to Feb 15, 2021 (8 pm UTC+8)
The earlier you stake, the more BEL reward you’ll get. So hop on the train and don’t miss out on this chance!
Reward Booster!
At the time of staking, users can choose to postpone BEL reward distribution to a later date for a boosted return.
A reward multiplier of 1.15x/1.3x/1.6x will be applied to the BEL reward earned for 7/15/30 day- delay for distribution. In other words, users will have the option to delay when they can receive the BEL reward in exchange for a higher return, up to 60% more.
Three buttons will be displayed on the reward claim page: BEL Earned, BEL Collectable, and BEL Vesting.
BEL Earned = Total BEL token reward, includes instantly claimable BEL and BEL rewards for delayed distribution. Please note that the rewards will only start to count for delayed days when users click on the “Claim” button.
BEL Collectable = Sum of BEL rewards that have passed the delayed period. Users can immediately receive these BEL rewards by clicking the “Collect” button.
BEL Vesting = Sum of BEL rewards that are claimed and are in the delayed distribution process.
Our Strategies
In Flex Savings v2, we have implemented our earnings strategy on Curve.fi and other secure and high return protocols, users will be able to see a return much higher than the market standard with the $BEL liquidity mining program. As time progresses, we, along with our community, will reassess all the options out there and adjust our strategies accordingly.
Service Fees, Risk Reserve and Token Burn
The long-term growth of Bella Protocol and the value propositions of BEL tokens depends on a sustainable and revenue-generating business model. For us, the goal is to build a leading asset manager that combines the best of DeFi and CeFi to generate high risk-adjusted returns that are customizable for retail and institutional investors.
Like a hedge fund, Flex Savings will charge a small management fee upon fund withdrawal (converting bToken back to the native token), and a percentage of the native interest as a performance fee. Part of the fees is going to “market buy” BEL tokens on Uniswap, among which 50% is going to be BURNT, and 50% is distributable to BEL stakers (coming soon). The other part goes to the team for the risk reserve fund and to use in product development.
Below is a preliminary fee structure for Bella Flex Savings. Please note that these are subject to change through community governance.
- A management fee of 0.25% on the bToken withdrawal amount
- 20% of the Flex Savings interest income will go to Core Team as a risk reserve fund and development fund
- 4% of the Flex Savings interest income will be used to market-buy BEL, which will be then allocated to BEL stakers (coming soon)
- 4% of the Flex Savings interest income will be used to market-buy BEL. These BELs will then be sent to the 0x0000 address and permanently burnt.
Is Bella Flex Savings v2 safe?
Bella Team has done the following to ensure the safety of the protocol:
1. Automated testing that covers all use cases.
2. Whitelisted verified contracts to prevent malicious contract interactions.
3. Studied Curve protocol and implemented smart pricing strategy to mitigate the impact of flash loan attacks.
4. Automated deployment to reduce human error.
5. All the contracts have been audited by Peckshield and functionally tested.
Despite the measures and precautions listed above, participants of DeFi should bear in mind the inherent systematic risks of all DeFi products, exercise caution, and assume responsibilities when making deposits. You can read more in the open letter from our tech team here.
Have fun farming!
Disclaimer
Please note that this product should be used at your own risk. Utmost good faith has been used in constructing this product and the team will continue to update the code, implement safety measures, and partner with the best security teams in the industry to ensure fund safety.
About Bella
Bella is a suite of open finance products including automated yield farming tools, lending protocol, 1-click savings account, customized Robo-advisor, and more. We believe everyone deserves equal access to premium financial products and services with elegant design and a smooth user experience.
Bella Protocol was 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 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
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