Bella Protocol Selected as the First Project for Binance’s Newly Unveiled Launchpool
Earlier today, the world’s largest crypto exchange Binance introduced Binance Launchpool, a platform that users can securely farm new assets on, as part of an ongoing initiative to bring the DeFi experience to Binance.
Bella Protocol will be the first project to participate in Launchpool, where users will be able to stake their BNB, BUSD or ARPA tokens into three separate pools to farm BEL tokens over 30 days, starting from 2020/09/09 00:00 AM (UTC).
In addition, Binance will then list $BEL at 6:00 AM (UTC) 2020/09/16 and open trading for BEL/BTC, BEL/BNB, BEL/BUSD and BEL/USDT.
What is Bella?
Bella Protocol is an ecosystem project incubated by ARPA, the renowned layer 2 multiparty computation (MPC) network built on Ethereum. A branch of MPC cryptography is threshold signature scheme, which enables cross-chain interoperability and asset custody. Bella Proctol is positioned as a strategic move of ARPA’s long-term DeFi blueprint, and it will attract its first batch of users from the global ARPA community.
The Bella Protocol offers a suite of DeFi products for streamlined crypto banking experience. The core concept of Bella product design is 1-Click. Bella automates everything possible, subsidizes gas fee, and caters to both new and experienced users either on-chain or via Bella custodian service.
What Does $BEL Token Do?
$BEL token is essential in the Bella ecosystem. Bella users enjoy numerous benefits holding and using $BEL including:
Fee Collection — A portion of transaction and service revenue of the network will be used to reward long-term BEL stakers and voters. Bella charges yield performance fees across multiple products. The revenue stream is shared among the following parties: BEL stakers and voters, referral channel, operation budget and risk reserve.
Discount — $BEL holders enjoy service fee discounts, similar to exchange platform token such as BNB.
Staking — As the total amount of $BEL in circulation increases in the first two years, staking helps $BEL holders to offset the inflation as well as to vote for network changes.
Voting and Governance — Bella is an ever-evolving DeFi ecosystem. Users with staked $BEL can vote for potential product upgrades, new releases, and parameter fixes.
We also updated the token distribution for $BEL:
“At Bella, we want to bring your everyday banking experience to crypto. A majority of crypto holders cannot participate in DeFi due to high cost and poor user experience,” said Bella Co-Founder and CEO Felix Xu, “with Bella, users can save gas fee and time, enjoy high yield from sophisticated strategies and leave all the heavy-lifting to us. We aim to become the BlackRock of crypto and bring 10x more users to the DeFi ecosystem.”
The current product lineups of the Bella Protocol include Bella Liquidity Mining, Flex Savings, One-Click Portal, and Lending. BEL token holders have the ability to stake and earn revenue collected within the Bella ecosystem, enjoy fee discount and staking reward, and vote for network improvements.
“ The potential of DeFi is accelerating at an outstanding rate, along with its adoption among the crypto ecosystem.” said Binance CEO and Founder, CZ (Changpeng Zhao). “We’re excited to host Bella Protocol as Launchpool’s first DeFi offering on the Binance platform, and are delighted to offer Binance users the opportunity to securely farm new assets”.
In August 2020, Bella Protocol successfully closed a private round of fundraising, led by Arrington XRP Capital, the investment fund started by Michael Arrington, founder of TechCrunch and Crunchbase. Other investors include Alphabit, a leading European venture capital fund, David Namdar, co-founder of Galaxy Digital, Laurenz Apiarius, founding partner of BlockWall Capital, Ben Gorlick, ex-Head of Product at Blockstream, Koi Ventures, Force Partners, RockX, CGS Dubai, N7 Labs, Coinbene, Amedeo Capital, AlphaCoin Fund, Bitblock Capital, BlueHill Capital, Roark Fund, Yunshang Capital, Consensus Labs, and many others.
What Happens Next?
Users will be able to stake their BNB, BUSD or ARPA tokens into three separate pools on Binance to farm BEL tokens over 30 days, starting from 2020/09/09 00:00 AM (UTC).
Binance will then list BEL at 6:00 AM (UTC) 2020/09/16 and open trading for BEL/BTC, BEL/BNB, BEL/BUSD and BEL/USDT.
Auctions, liquidity mining on DEX, and product launch are in pipeline and will be announced and launched in the near future.
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 email@example.com
Learn about Bella’s recent official news：