Q1 2021 has come to an end. In the first three months alone, we have witnessed exponential growth in Bella’s product adoption and ecosystem.
Offering a stable 50%+ APY for USDT, USDC, BUSD, ARPA, HBTC, and WBTC, Bella Flex Savings has attracted immense interest from the DeFi community. The total value locked (TVL) has surpassed $40 million in under two months. As our first core product, a yield aggregator, Flex Savings has proven so much untapped potential that DeFi possesses, and we have never been so excited about the future of DeFi and crypto.
Aside from our achievements on ETH, we are also expanding BEL token availability to other chains. We have partnered with Pancake Swap on Binance Smart Chain (BSC), and the current BEL-BNB pool has amassed more than $14 million in liquidity and offers 110% APY in CAKE token. Shortly, we will collaborate with more projects in the BSC ecosystem and beyond, building a prosperous and diverse DeFi world together.
From $600 million in TVL in March 2020 to $42 billion in March 2021, DeFi has seen a staggering 70x growth in liquidity and volume in a single year. The DeFi industry has been developing at an unparalleled speed, we are more than lucky to be in this industry at this early stage.
DeFi is permissionless, borderless, and decentralized, which spurs endless innovation and opportunities for partnerships.
What we could achieve as one single team is limited by resources, time, and space. Besides the in-house tech and product development, collaboration across different protocols brings about synergies for all parties. When projects with diverse backgrounds and individual focus start teaming up, creativity and innovation will flourish.
At the inception of the Bella project, we wanted to combine DeFi and CeFi through a 1-click app to bring mass adoption to crypto. However, the centralized custody for crypto assets is still in the grey area for numerous countries. Also, the competitive landscape for lending products has been shifting fast since we started. Aave and Compound have established significant dominance and are becoming the behemoths of the industry. As a result, we decided not to pursue the 1-click and lending product due to regulatory and strategic reasons.
We have several exciting updates on our development plans for the remaining three quarters of 2021.
Q2: Bella Ecosystem Fund
The Bella team believes in the power of paying it forward and helping each other, especially during the early stage of this industry. We are excited to share that we are in the process of finalizing the establishment of the Bella Ecosystem Fund. The fund has invested in and helped some solid projects in the past few months, and we cannot wait to share these stars of the future with you all. We will announce the fund’s details, mission, the first batch of partners, and its current portfolio in early Q2 2021. The fund's goal is to partner with high potential projects at an early stage so that they can integrate with Bella Flex Savings and bToken on the product level.
Q3: NFT and DAO Governance
NFT Use Cases
We believe that the boom of NFT will add value to the current DeFi world and bring life to numerous novel and significant creations.
In Q3 2020, we will explore the possibilities of different use cases of NFT, from blind-boxes to card games and farming. To make NFTs accessible for everyone, we’re planning to integrate with chains like BSC and layer-2 solutions such as ZK Rollups. This will remarkably lower the gas fee, thus lowering the threshold for every user to get to know and use NFT, allowing everyone to generate their own online identities and artworks. Bella team is designing an infrastructure to simplify the onboarding process for creators and brands and provide a platform for fresh use cases for NFTs.
The DeFi bloom also brought out countless experiments on the governance of novel cooperations. Decentralized Autonomous Organization (DAO) is one of them, and it continues to be a growing force in DeFi and beyond. We plan to launch the Bella DAO governance system in Q3 2021. Soon, all BEL holders will be able to have a say in community governance, submit proposals, and vote on changes. At the same time, active participants will be ranked and eventually rewarded for their contributions to the Bella community.
Q4: Bella Launcher & Bella Incubation Program
Bella Protocol always strives to be the innovation powerhouse for DeFi since the inception of the project. In Q4 2021, the incubated DeFi projects will benefit from Bella’s global, active, and supportive community. They will also receive advice and resources like tech support, funding, marketing, and liquidity bootstrapping. In return, BEL holders will enjoy extra returns from the incubated projects’ growth and success.
In 2021, the Bella ecosystem will be more open, inclusive, vibrant, with even more collaborations and integrations with other DeFi legos.
Q2 2021: Bella ecosystem fund & more integrations for btokens
Q3 2021: NFT use cases and launch of Bella DAO governance
Q4 2021: Bella Launcher & incubation program
We look forward to another fruitful year of growth and expansion.
April 4, 2021
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 is 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 firstname.lastname@example.org
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