Bella Protocol is a platform that provides a suite of DeFi products designed to make crypto banking simpler and more accessible. The protocol aims to create a better user experience by eliminating the high fee and slow transaction issues that can affect some blockchain platforms — while simultaneously improving the user experience through its simplified DeFi smart portal.
The project launched in September 2020 as the first project distributed via Binance’s Launchpool platform, and has secured investments from several prominent firms, including Arrington XRP Capital and Ledger Capital.
The protocol was built by the ARPA team, a blockchain-based layer 2 solution for privacy-preserving computation. The BEL token is an essential component of the Bella Protocol ecosystem and serves as both a reward token that allows holders to participate in the governance of the platform.
BEL can be used to farm fee rewards from the network, get exclusive discounts on Bella protocol products (such as its robo-advisor tool), and for earning staking rewards.