Bella Protocol Monthly Report | January Progress Review

Dear Bella community,

Happy Lunar New Year! The year of Ox signals a bullish outlook for the DeFi community. To ensure that the Bella community is well informed on the team's latest developments, we update Bella's development dynamics and progress through our monthly report. Thank you all for your support!

This review is a look back at January. Enjoy!

01 Bella Development Dynamics & Technology Progress

DeFi

  1. Extended the Curve StableSwap pool emulator.

2. Optimized Flex Savings pricing strategy and reduced the impact from the fluctuations of the underlying token ratio.

3. Enhanced Flex Savings security of contract calls.

4. Finished Flex Savings integration tests.

5. Automated Flex Savings contract deployment and operation plan.

6. Deployed and tested Flex Savings contracts.

7. Released Flex Savings to ETH mainnet.

8. Tested all the Happy Paths of Staking smart contract.

9. Implemented and deployed Flex Saving front end.

10. Fixed Flex Saving front-end token price fetching issue.

11. Fixed Flex Saving front-end numerical error of the reward.

02 Community, Marketing & Listings

Bella Flex Savings v2 Farming Reward for Week 2 Increased to $300k

On Feb 15th, Bella Foundation announced the farming reward for Feb 15 — Feb 22 is increased to $300k. Compared to the first week, the week 2 reward is 10% higher!
Join now at: https://fs.bella.fi/

Bella Flex Savings v2 Launched on Ethereum Mainnet

TVL reaching $21 million as of Feb 23rd

On Feb 8th, Bella Flex Savings v2 is officially released on Ethereum Mainnet and reached a TVL of $10 million in 48 hours. USDT, USDC, and ARPA pools are open, with more to come soon (WBTC pool opened on Feb 22th). As of Feb 23rd, TVL is reaching $21 million. The higher the TVL, the more tokens will be burned.

Flex Savings v2 has several highlight features: Optimized portfolio strategies, gas fee saver, auto reinvest & compounded return, higher return for staking vesting period, low management fee, and token burn. Visit fscn.bella.fi and start generating effortless earnings!

Read more:

Bella Foundation Initiated Million-Dollar Yield Farming Incentives Program

On Feb 8th, along with the grand launch, Bella Foundation also initiated a million-dollar yield farming program to bootstrap the staking of bToken and the initial liquidity in the product. As a result, we expect the combined APY (native APY + BEL APY) to be much higher than the current industry standard.

Read more:

5 Lucky Active Addresses Awarded $100 Worth of BEL for Testing Flex Savings v1

On Feb 22nd, a total of $500 of BEL was airdropped to the 5 active Flex Savings v1 addresses. Thank you to all those who gave our testnet a try and made Flex Savings v2 better.

An Open Letter from Bella Engineering Team

On Feb 4th, the Bella engineering team published an open letter to our community. In the letter, our engineering team explained what we did to improve the product's overall quality. Besides the tremendous efforts we made, all of our codes are open-sourced and have gone through rigorous audits by Peckshield.

Read more:

Bella Protocol DApp Is Available on HyperPay On-Chain Wallet

On Feb 4th, Bella Protocol dApp was listed on HyperPay On-Chain Wallet. Users can now earn at a high APY of more than 80% by searching Bella Protocol in the Mining section in the HyperPay app.

Bella Launched a Technology Quiz on Coindar for 2021 Synopsis Summit Warm-Up

On Feb 1st, Bella held a technology quiz on Coindar as the 2021 Synopsis Summit warm-up.

Quiz link:

Bella Completed the 2nd $BEL Airdrop for $ARPA Holders

In mid-Feb, Bella Foundation completed the 2nd BEL airdrop for ARPA holders on partner exchanges: Huobi, Bithumb, Gate, KuCoin, MXC, and HBTC. 250,000 BEL (approximately $802,500 U.S. dollars as of Feb 24th) was airdropped to ARPA holders.

Read more:

Bella Made into CryptoCrunchApp Top Ten Trending Crypto Coins List

On Jan 29th, CryptoCrunchApp listed $BEL as one of the Top Ten Trending Crypto Coins with a market cap of $24M.

Announcement on Bella (BEL) Liquidity Mining Reward Adjustment

On Jan 26th, the latest Bella liquidity mining adjustment plan came into effect; the detailed plan is as follows:

  • Reward for BEL/USDT pool will remain as 5,000
  • Reward for BEL/ETH pool will be increased from 5,000 to 8,000
  • Reward for ARPA/USDT pool will be reduced from 5,000 to 1,500

Read more:

BEL/KRW Trading Pair Open on Bithumb — Korean’s Largest Crypto Exchange

On Jan 28th, $BEL was listed on the Bithumb KRW market, and BEL/KRW trading pair opened. Users now can purchase $BEL directly using fiat on Bithumb, Korea’s largest crypto exchange. Stay tuned for more use cases!

Read more:

BEL Listed on Layer 2 AMM DEX Loopring and Launches BEL Liquidity Mining & Swap Tournament

On Jan 25th, BEL was listed on Loopring, an AMM DEX & payment protocol based on zkSync on Etheruem. Loopring Liquidity mining of BEL-ETH pair was also launched on the same day. The liquidity mining lasted for 14 days with 10,000 BEL rewards. Bella, together with Loopring, also held an AMM Swap Tournament for BEL-ETH pair with a total reward of $17,200. This event has successfully ended on Feb 8th, 2021, thank you all for your support.

$BEL-ETH ranked 4th across all pools on Jan 25th

Read more:

Bella Dev Team Joined Bella Discord Tech-and-Dev-Talk Channel

On Jan 23rd, our dev team joined the tech-and-dev-talk discord channel to keep updating our development progress and directly communicate with our community. We value the voice of our community and strives to make better DeFi products for everyone.

Join here:

BEL Added to the List of Supported Assets on Binance Savings

On Jan 21st, BEL is added to the list of supported assets on Binance savings.

Read more:

Bella Protocol Made into the CryptoDiffer Daily Gainer List

On Jan 21st, Bella made it into the CryptoDiffer Gainer List. Within 24 hours, BEL price skyrocketed by more than 20%.

Bella & ARPA Vietnam Community Made Joint Efforts to Bring New Year Gifts to People in Need

On Jan 20th, the Bella & ARPA Vietnam community made joint efforts to bring Lunar New Year care packages to the elderly and those in need. Giving back to the community has always been something we value.

Bella Protocol Listed on Bithumb BTC Market

On Jan 18th, Bella Protocol was listed on the Bithumb Korea, the biggest crypto exchange with BTC market open. Along with the listing, “80 Thousand BEL and 10 Million SSX Airdrop Event” was held together by Bella and Bithumb.

Read more:

Bella Protocol Collaborated with MyToken to Launch Free Giveaway & Lucky Draw Events

On Jan 18th, Bella Protocol joined hands with MyToken to give out 100,000 $MT rewards to those who added $BEL & $ARPA to ‘Favorite’ on the MyToken App.

Bella Protocol Joins Hands with SafePal and Initiated 5,000,000 SFP Airdrop Campaign

On Jan 17th, Bella Protocol entered into a partnership with SafePal, and started a 5,000,000 SFP reward pool Holding & Swapping Challenge.

Read more:

Bella Co-Founders Invited to Synopsis 2021: The Global DeFi & Digital Economy Summit

On Jan 15th, Bella Protocol Co-founder & CEO Felix Xu and Co-founder & CGO Yemu Xu were invited to speak at the Synopsis 2021 Digital Economy Summit.

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 brings your familiar mobile banking into crypto with just one click. With Bella, you can 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

WeChat: Scan the QR code to join

A suite of DeFi products to bring your familiar mobile banking into crypto with just one-click.

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