There are more decentralized finance protocols today than ever before. Each one strives to make finance easier for new market entrants, and Bella offers some innovative solutions.
Bella Protocol attempts to simplify DeFi with an easy-to-use interface and suite of products. Furthermore, it aims to onboard users that are already familiar with online banking.
Bella was unveiled in mid-2020 when it announced the building of a “one-click DeFi aggregator.” Since then it has gained $16.3 million in total value locked, according to Defi Llama. However, TVL topped $40 million in a November peak but has fallen back since in the bear market.
Flex Savings and Smart Mining
Bella offers a product called Flex Savings which it describes as a trusted “smart mining” application. Flex Savings (now in version 2) is a smart pool that routes funds to DeFi protocols with the most competitive yields.
Furthermore, users can deposit stablecoins and supported tokens to earn decent yields through the aggregator. The smart contract does the work by sourcing the best-performing yield farms and pools.
Additionally, this “hands off” approach is similar to that employed by Yearn Finance. Users simply deposit their funds and let the protocol do the manual work. There are seven tokens supported in the Flex Savings plan: USDT, USDC, ARPA, WBTC, HBTC, BUSD, and DAI.
The Bella Protocol “One-Click Portal” allows users to deposit and deploy crypto assets on popular DeFi products using a custodian service. This process is very simple and also has subsidized gas fees.
Furthermore, it has options such as compounding and reinvesting to maximize staking returns. There is also a Bella Locker in which users can deposit their native BEL token for additional rewards.
The Locker was offering 18% for a 30-day BEL deposit, 24% for 60 days, 36% for 120 days, and 50% for a one-year locked deposit. The BEL token is burnt through the Flex Savings, reducing the supply as more people use it.
BEL Price Outlook
Bella’s native token, BEL, has spiked in price today, surging 17% over the past few hours. As a result, BEL had topped $1, up from $0.80 on June 5.
Furthermore, BEL has seen several price spikes over the past week, and the token has made 55% over the past month. However, BEL is trading down 90% from its September 2020 all-time high of $10 when it debuted on Binance Launchpool.
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