Bella Protocol Monthly Report | November Progress Review
Dear Bella community,
To make sure that fellows of Bella community are well informed of the latest developments of the team, we will update the project dynamics and progress in Bella community in our monthly report. Thank you all for your support!
This is November in the rear view. Enjoy!
01 Bella Development Dynamics & Technology Progress
DeFi
- Developed BEL Locker front end, enhanced user experience
- Tested BEL Locker smart contract
- Deployed BEL Locker
- BEL Locker maintenance
- Researched DeFi test toolings
- Studied and summarized DeFi product development best practices
- Analyzed existing virtual EVM implementations
- Researched AMM model and implementation of DEX
- Migrated test framework from Truffle to Saddle
02 Community, Marketing & Listings
Bella Protocol Integrates with Nest Protocol to Bring Reliable Data to Lending Product
On Dec 8th, Bella Protocol announced that they 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 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!
Read more:
Bella Protocol Launches Official Staking Product BEL Locker
On Dec 8th at 8pm, UTC+8, the official BEL staking product, Bella(BEL) Locker, officially went live.
In BEL Locker, users can choose to stake BEL for 30/60/120/360 days for 18%/24%/36%/50% APY.
Come participate at: https://locker.bella.fi/
Check the tutorial:
Bella Flex Savings v1 Went Live in Sandbox Environment
On Dec 1st, Bella Flex Savings v1 officially went live in sandbox environment.
Flex Savings v1 will not be deployed to Ethereum mainnet, rather it will be deployed to a sandbox environment of Ethereum fork (mainnet snapshot). Security audit reports of Flex Savings v1 are going to be published, at the same time we’re going to implement a major upgrade to Flex Savings v2.
Flex Savings v1 is essentially a smart pool that routes funds to DeFi protocols with the most competitive return. In essence, we strive to help our users the most attractive, risk-adjusted return in the market. Think of Flex Savings as a hedge fund, but more transparent, efficient, and decentralized.
With Bella Flex Savings v1, users can deposit stablecoins and other tokens to earn attractive yields automatically. The smart contract then automatically routes the fund to different mining pools under ever-updating investment strategies.
There are seven crypto assets supported in the first batch. More will be added in the near future. Native interest rates for crypto assets usually range from 5% to 15% APY.
Click the link to experience Flex Savings v1 in sandbox environment: https://fs.bella.fi/
Read more:
BEL Trading Competition opened on Binance
BEL Trading Competition started from Dec 2nd 0:00 AM to Dec 8th 11:59 PM (UTC) on Binance, total prize pool $50,000 BEL.
Read more:
Announcement on Bella (BEL) Liquidity Mining Reward Adjustment
On Nov 30th at 8pm UTC+8, BEL reward for Bella(BEL) Liquidity Mining is adjusted, the detailed adjustment plan is as follows:
- Reward for BEL/USDT pool will be reduced from 12,500 to 8,500
- Reward for BEL/ETH pool will be reduced from 7,500 to 5,000
- Reward for ARPA/USDT pool will be reduced from 7,500 to 5,000
Read more:
Thoughts on Multi-Million Dollar DeFi Applications by Bella Protocol Team
On Nov 23rd, Bella Protocol released an article explaining their thoughts on multi-million dollar DeFi applications.
The past few weeks have not been easy for the DeFi world. Multiple attacks have been conducted on DeFi protocols, millions of dollars have been stolen. Most of these targeted DeFi protocols have been audited, yet vulnerabilities have still been exploited.
At Bella, it is our mission to bring mass adoption to crypto and DeFi. This means that we will be the first stop for newcomers to crypto who want to invest in DeFi. We will be handling their trust and life-savings. Therefore, we take security as the highest priority.
Our team has made a decision to implement a major upgrade to Flex Savings v2. Therefore, Flex Savings v1 will not be deployed to Ethereum mainnet, rather it will be deployed to a sandbox environment of Ethereum fork (mainnet snapshot). Security audit reports are also going to be published.
We do appreciate every bit of your patience and understanding. Together, we are working towards a healthier, more robust and mature world of DeFi.
Read more:
Games and Contest Events in Bella English Community
On Nov 21st, to celebrate the grand launch of Bella Flex Savings v1, we prepared dice & quizzes games in our English community, $150 BEL prize pool in total.
Join our community:
Binance Supported Staking of BEL
On Nov 19th, Binance added BEL to the list of supported assets on Savings, and BEL staking has been fully subscribed in just under 24 hours.
Read more:
BEL Listed on MoonSwap and BEL Liquidity Mining Opened
On Nov 19th, MoonSwap listed BEL and started BEL liquidity mining. Users can now stake cBEL/cUSDT LP pair on Moonswap, and happy farming MOON. Conflux is subsidizing all gas fee so there will be 0 gas fee.
Read more:
Binance Enables Margin Trading for BEL
On Nov 18th, Binance enabled Cross Margin and Isolated Margin trading for the following asset and trading pairs:
New Isolated Margin Assets: BEL
New Isolated Margin Pairs: BEL/BTC, BEL/BUSD, BEL/USDT
Users could also borrow BEL with zero-interest from Nov 18th 6:00 AM (UTC) for 7 days.
Read more:
Bella Protocol Partners with Matic Network to Power DeFi Product Suite
On Nov 18th, Bella Protocol announced that they have entered into a partnership with Matic Network to power Bella’s DeFi asset management endeavor.
Seamless, fast and secure DeFi interaction lies at the core of the Bella team’s mission. By onboarding with Matic Network, Bella is able to further lower the transaction fees, speed up the interaction with smart contracts and improve UX of DeFi protocols on the Ethereum mainchain, thereby providing a comprehensive and second to none DeFi experience.
Besides technical integration with Matic’s layer 2 solution, there will be future collaborations on capital, community, global marketing and more.
Read more:
Binance Futures Launched BEL USDT-Margined Perpetual Contracts With Up to 50x Leverage
On Nov 17th, Binance Futures launched BELUSDT perpetual contracts with trading opening at 2020/11/18 7:00 AM (UTC). Users are able to select between 1–50x leverage on either contract. The BELUSDT perpetual contracts are USDT-margined futures contracts that use USDT as collateral.
Warning: Futures is a highly risky and volatile financial vehicle. Trade with caution!
Read more:
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
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
