BEIJING, CHINA / ACCESSWIRE / September 9, 2020 / Bella is proud to confirm that Bella Protocol has become the first project to be hosted on Binance's Launchpool platform. Launchpool is a brand-new initiative designed to bring the decentralized finance (DeFi) experience to Binance users. Users can stake their crypto holdings,including ARPA, BNB and BUSD, in return for rewards paid newly-listed tokens, of which BEL is the first on offer.
Starting from September 9, at 12:00 AM UTC, Binance users can stake their BNB, BUSD, or ARPA tokens into three separate pools. Over the next 30 days, they'll be eligible to receive a share of 5 million BEL tokens, representing 5% of the total supply.
Rewards are calculated based on the proportion of a user's staked tokens compared to the total number of tokens staked in the pool.
Anyone with a Binance account can participate in yield farming BEL tokens on Binance Launchpool. There is no upper limit and no KYC.
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.
"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.
Following the introduction of the Binance Launchpool with BEL rewards, Binance will also commence listing the BEL token on the main exchange. From September 16 at 12:00 AM UTC, BEL will be available for trading in pairs with BTC, BNB, BUSD, and USDT.
The news about the inclusion of Bella Protocol on Binance Launchpad comes only a few weeks after Bella closed a $4m seed funding round led by Arrington XRP Capital. Bella is incubated by ARPA, the privacy-preserving network based on secure multi-party computation.
Becoming the inaugural project to be hosted on Binance Launchpool, together with the backing of high-profile investors, establishes Bella's status as one of the most credible and exciting new projects in the DeFi space. Other upcoming developments include the launch of Bella Protocol's liquidity mining, together with the platform's 1-click savings service due to be rolled out in Q4 2020.
About Bella
Bella Protocol is a suite of open finance products, including automated yield farming tools, a lending protocol, a 1-click savings account, customized Robo-advisor, and more. At Bella, 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.
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SOURCE: Bella