Thank you to the NanoNews Community for participating in Ask Me Anything (AMA) with Bella Protocol December 22, 2020. This guest star Lamia Liang, Global Marketing of Bella Protocol. If you were unable to join the live AMA, no worries, here comes our 96th AMA recap!
We are glad to meet here:
Lamia, Global Marketing of Bella Protocol
For taking your time out from busy schedule for the AMA!
Faiz: How are you feel today @LamiaLiang?
Lamia: Thanks Faiz, pretty good
Faiz: Thanksyou for attending in our AMA Series @LamiaLiang , Our community hopes to talk and learn more anything about Bella Protocol
Lamia: Thanks for having me, this is very warm and welcoming community!
Faiz: Thanksyou Lamia! Its Great to having Bella Protocol in our AMA Series! My team @dederwrg69 will be help to translate our topic in Bahasa Indonesian
Q1: Can you introduce yourself to the community? What is your background and how did you join Bella Protocol?
Hi everyone, I’m Lamia, Bella Protocol global ops. I firmly believe that the DeFi world has much more growing potential and we need to lower the joining barrier as well as attract more traffic. That’s what I believe, and that’s what Bella Protocol is trying to achieve.
Faiz: Great, Thanksyou for Answering! I also agree about that, DeFi has grown a lot this year and at its peak Bitcoin also provides some interesting things for people out there and it’s possible for DeFi and Bitcoin itself to bring mass adoption to the blockchain world.
Lamia: Yep, I’m really excited to see what DeFi can do 😉
Faiz: Yes, Bella its also have big big Potential to Reach their Milestone soon!
Q2: Can you briefly describe what is Bella Protocol?
Of course! Bella is a suite of open finance products including automated yield farming tools, lending protocol, one-click savings account, customized robo-advisor, and more. 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.
Faiz: Wow, That’s really interested! Also Bella Protocol have a Great Partnership with Big Company in Blockchain World, you can check on their Website: https://bella.fi
Lamia: Strong partnership is also a key to stay despite the industry cycle😆
Q3: What companies/projects do you see as competitors, and how does Bella Protocol stand out compared to them?
It’s hard to say who are our competitors, but I can list 3 killer features of Bella’s upcoming products here:
- zero gas fee – we will combine Fefi and Cefi to make the user experience much better. Users can use Bella One-Click the same as they are using an exchange. Completely free of charge.
- High yield and auto rebalancing – liquidity mining is tiring. you always need to think of the next project to farm. Now we can take care of it. When yield comes down we will redeploy your fund to another protocol for higher yield.
- Risk mitigation – we have the manpower to assess different protocols to reduce risk of smart contract.
Faiz: Security is one of the most important things in this industry, seeing from the previous project they had low security. What about security, can Bella guarantee everything is safe?
Lamia: Our codes are carefully reviewed by top security firms like PeckShield, you guys can check out audit report on Bella website!
Q4. What is the use-case or MVP Product of Bella Protocol?
Our first core product — Bella Liquidity Mining, went live September this year, The initial set of pools are Uniswap LP token pools, users will need to obtain the Uniswap LP token by providing liquidity for BEL/USDT, BEL/ETH, ARPA/USDT on Uniswap and then stake the LP token on bella.fi to get BEL rewards. What’s more, it also has a reward booster feature that can boost your reward by up to 2x. You can try it out on: https://liquidity.bella.fi/
Then our second product–Flex Savings v1 also went online in the sandbox environment this Dec 1st, at the same time we’ll implement a major upgrade to Flex Savings v2, which will be in Ethereum mainnet and is expected to go online in the middle of Q1 2021.
Thirdly, our official staking product–BEL Locker went live on Dec 8th, where users can choose to stake BEL for 30/60/120/360 days for 18%/24%/36%/50% APY. Come participate at: https://locker.Bella.fi/
Every product is unique and really easy to use!
Lamia: Yes, and you can also have fun experimenting Flex Saving v1 in sandbox environment
Q5. What are the major milestones Bella Protocol achieved so far & what are in future pipeline?
Great question Faiz, The first milestone must be us launching on Binance as the first project on Launchpool, In the past two months, we’ve made huge progress in product development, and launched three core products. Next we’ll carefully prepare for Flex Savings v2, and we’re also designing a lending product to lower user barriers and to help users earn juicy rewards. Now it is time to gradually work things to a better direction, stay tuned, more are just yet to come.
Q1. What role does Bella Lending play in the evolution of the Bella protocol? What can we expect in the future?
We aim to lower the threshold for users participating in the DeFi world, and increase capital flow as well. We believe everyone has the right to access premium financial services and elegantly designed products, so you guys can also anticipate that in our future products. I think you can expect to see Lending related product early next year.
Faiz: Yes, its really interesting. Bella teams can send information about this to us, we will help to translate, published on our social media and Website
Lamia: Thanks! We’ll publish more info on our lending product soon!
Q2. A few days ago Bella Protocol announced its partnership with Nest Protocol. How will this help the growth of your project? What technological aspects will Nest Protocol provide to you?
Wow someone’s really following our progress. The integration with Nest Protocol will be able to add yet another reliable source of data feed to Bella’s decentralized lending service. And besides integrating with NEST oracle, we are also planning to cooperate on community and global marketing, stay tuned!
Q3. How are you going to handle your systems if unforeseen problems happen in the future, particularly hacking issues that affect your platform have some of your users personal data? Would be your platform prepared to deal with that sort of situation?
We have partnered with leading security firms such as PeckShield to ensure that our codes are safe and sound. At the same time, we’ll work with best-in-class white-hats and security teams to find potential hazards in the code. Also, We have put in place emergency switches in response to risk management alarms.
Q4. I’m a developer, and I’m interested in contributing to your project along sides earning, Do you have any Bug Bounty to check for vulnerabilities ?
There will be. We will focus on building our community in the near future and all members are welcomed to contribute.
Q5. Can you please describe what was changed or added in implementing the massive upgrade to the Flex Savings v2?
First of all we’ll work with best-in-class white-hats and security teams to find potential hazards in the code, and do our best to ensure users’ security. Second we’ll design and develop a generic scenario testing harness, state-of-the-art in the DeFi industry to ensure the system’s robustness. Then we’ll conduct a thorough research on existing investment strategies to enrich what we already have right now.
Faiz: Sounds Good, We will waiting updated from Bella Protocol!
Lamia: We’ll let you guys know our progresses!
Q1. Is a #BellaProtocol platform for professional traders and What is the effect that ordinary investors who are not trading experts can feel from using the #BellaProtocol platform ?
Nope, our goal is to lower user barriers and let everyone participate in the DeFi world easily. Our products are elegantly designed and easy to use.
Q2. Is the $ BEL token a management token? If so, what are the requirements for creating a proposal or voting on a proposal?
It is a governance token of our Bella ecosystem, and one of our community members has put up a poll on snapshot, we’ll focus on community building in the near future too, and there will be more polls like this
Q3. Aside getting listed on Binance , does BELLA plan to get listed on other big exchanges
We’re constantly in discussion with exchanges, stay tuned
Q4. We are living in the advent of YIELD FARMING and Liqiudity Mining, can you share your personal opinion on Yield Farming and also Briefly explain your Liquidity Mining Program? How can we participate?
I strongly believe that yield farming is not going away. The return APY can normalize, but as more and more defi applications coming out. There are plenty of new opportunity and strategies we can add to Flex Savings.
In Bella Liquidity Mining, users will need to obtain the Uniswap LP token by providing liquidity for BEL/USDT, BEL/ETH, ARPA/USDT on Uniswap and then stake the LP token on bella.fi to get BEL rewards. What’s more, it also has a reward booster feature that can boost your reward by up to 2x. You can try it out on: https://liquidity.bella.fi/
Q5. Does your token project include burning or token buy back?
Yes. A certain percentage of the reward earned from Flex Saving v2 will be used to market-buy BEL and these BEL will be burned. The more users we get, the more BEL gets burned. Actual % can be adjusted thru community governance. Token burn depends on TVL within our Flex Savings product, and also depends on how much we make for users so that we can take a cut from the profit.
Bella Protocol Resources Link:
✅ Website: https://bella.fi
✅ Bella Locker: https://locker.bella.fi/
✅ Bella Liquidity Mining: https://liquidity.bella.fi/
✅ Flex Saving: https://fs.bella.fi/
✅ Medium: https://medium.com/@Bellaofficial
✅ Twitter: https://Twitter.com/bellaprotocol
✅ Telegram: https://t.me/bellaprotocol
✅ Discord: https://discord.gg/JamMH5P
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