Bella Protocol is a platform for DeFi products that aims to simplify the crypto banking experience and make it more accessible. It targets a better user experience by eliminating high fees and slow transaction issues through a simplified DeFi smart portal, improving the user experience.
It has been stated that Bella Protocol’s (BEL) token is used to collect network fee rewards, obtain exclusive discounts on Bella protocol products (such as the robo-advisor tool), and earn staking rewards.
The project was launched in September 2020 as the first project distributed through Binance’s Launchpool platform and received investments from leading firms such as Arrington XRP Capital and Ledger Capital.
Bella’s smart pool feature allows users to access the best yields in the DeFi market with almost zero transaction fees, which are directly covered by the platform.
Additionally, Bella Protocol was created by the ARPA team, which is a Blockchain-based layer 2 solution for privacy-preserving computations. The BEL token is a crucial component of the Bella Protocol ecosystem and a reward token that enables its holders to participate in the governance of the platform.
The Bella Protocol platform offers a wide range of products, including the Bella Liquidity Mining platform, flexible savings, a smart portal used for one-click asset deployment to popular and profitable DeFi products without any transaction fees, and a lending platform.