Bella Protocol Integrates with Nest Protocol to Bring Reliable Data to Lending Product
We are excited to announce that we have entered a partnership with NEST to bring reliable data to Bella Protocol’s future products. We will work to support each other bringing even greater utility, reliability and security to the DeFi community.
The NEST Protocol is a distributed oracle launched on the main Ethereum network. It utilizes a unique “quote mining” mechanism to ensure that off-chain pricing is driven by on-chain data, providing unparalleled fairness and accuracy for asset pricing and market making.
The integration with Nest Protocol will be able to add yet another reliable source of data feed to Bella’s decentralized lending service. We are confident that this partnership will bring an added layer of trust and reliability to the crypto assets pricing for Bella Lending products.
Besides integrating with Nest Oracle, we’re also planning to cooperate on community and global marketing, stay tuned!
About Nest
NEST Protocol is the first permissionless network built for on-chain oracle services, as well as a community of token holders, data providers, and validators.
As an oracle, NEST Protocol provides a creative solution to verificate on-chain data such as quotation of digital assets. In the NEST network, all of the data are directly generated on chain; users(a.k.a. Quote Miners) upload their own asset quotes with a certain amount of collateral in place , the quotes then will be imputed to NEST’s price chain after a fixed verification period. Prevention of foul play is also in place during the verification period where the users’ collateral are open to all forms of arbitrage. Only quotes with no collateral have been traded will be accepted.
While the NEST’s open network remains permissionless and decentralized, the quotes and other on-chain data’s reliability and authenticity are secured by the game theory between Quote miners, Verifiers and Price Callers. The quote miners are rewarded with QP tokens. So far, NEST’s quote miners are providing real time quotes for over 50 active trading pairs like ETH/USDT, YFI/ETH and etc. Those quotes are accepted by many Open Price Feed format, and then be used by DEX/ reporters like Cofix and Coinbase Pro.
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 smooth user experience.
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 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
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