MCS | DeFi of Binance, Bella Protocol

MCS | DeFi of Binance, Bella Protocol

*This post has been written by Hedgehog, an MCS influencer and one of Korea's famous cryptocurrency key opinion leaders.

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On August 6, 2020, Binance announced the launch of its new product called Binance Launchpool.

What is Launchpool?

It is a new product on Binance Exchange that allows you to stake cryptocurrencies such as BNB and BUSD and acquire new tokens.

Bella Protocol (BEL), LaunchPool's First Project

The first project on Binance's new product, Launchpool, is Bella Protocol. Bella Protocol is an integrated user interface for the existing Decentralized Finance (DeFi) protocols. Bella Protocol, built by the ARPA project team, is aiming to simplify the user experience of the existing DeFi protocol and enable users to easily distribute assets and earn revenue.

The Highlights of Bella Protocol (BEL)

  • Bella Liquidity Mining: Users can receive BEL rewards by staking Curve, ARPA/USDC, and BEL/USDC LPs
  • Bella Flex Savings: Provides a cross-platform arbitrage rate strategy for stablecoins and other cryptocurrencies
  • Bella One-Click: A smart portal for distributing assets to popular DeFi platforms that subsidize gas costs through Bella's management service
  • Bella Lending: A decentralized lending service that supports LP tokens and structured financial products
  • Bella Robo-Advisor: Creates customized index portfolios, revenue-generating stablecoins and other crypto-assets based on user risk data

The Use Cases of the Bella Token, BEL

According to Bella Protocol, BEL token can be used for staking, fee payment, Bella service discount, voting, and governance on the Bella Protocol platform.

  • Fee collection: Part of the platform's transaction and service revenue is used to reward BEL stakers and voters. Revenue streams are shared between BEL stakers and voters, operating budgets, and risk reserves of the project (the asset pool used to reward holders in case of security issues).
  • Discount: BEL holders can receive a discount when using the services of Bella Protocol.
  • Staking Reward: Reward regular BEL token holders in the first two years to offset the circulating supply increase
  • Voting and Governance: Users staking BEL tokens can vote for potential upgrades, releases, and parameter modifications.

Bella Protocol (BEL) Token Information

Token Sale History

  • Private Sale Price: 0.75 USD / BEL
  • Private Sale Schedule: August 18, 2020
  • Private Sale Allocation: 6,000,000 BEL (6% of total issue volume)

Token allocation

  • Binance Launchpool (5% of issue volume)
  • Private Sale (6% of issue volume)
  • Public Auction* (2% of issue volume)
  • Ecosystem (18% of issue volume)
  • Reserve (4% of issuance)
  • Marketing (40% of publication volume)
  • Staking Reward (10% of issuance)
  • Team (15% of issue volume)

* Public Auction = Bella Protocol allocated 2% of the total BEL token issued for public auction by performing an initial DEX offering (IDO) in Mesa.

In this post, we have looked into Bella Protocol, the first project of Binance Launchpool, which is expected to open on September 9. In the upcoming post, I will share more information and schedule about Binance Launchpool.

I am a Bitcoin margin trader, Hedgehog. Thank you for reading this post.

           

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