Published in


Missed Hanbitco x Bella AMA? Here is your Summary!

Hanbitco X Bella AMA

Here is your summary for <Hanbitco X Bella AMA>

Q1. Can you please provide a brief explanation about yourselves?

A. Felix: Hey this is Felix, CEO at Bella and ARPA. Hanbitco is a good partner for us in Korea
Yemu: I bought my first BTC in 2016 @$500, sold them @$400. Prior to cofounding Bella & ARPA, I was the Head of Growth at Boro, a Money 20/20 fintech startup that raised over $10mil. Before that, I worked as an actuarial consultant at Fidelity Investments in Chicago. I am also an entrepreneur-in-residence at ZhenFund, one of China’s most prominent VCs.

Q2. Please briefly introduce the Bella project to the community

Bella Protocol is an ecosystem project incubated by ARPA. ARPA is a layer 2 multiparty computation (MPC) network built on Ethereum. A branch of MPC cryptography is threshold signature scheme, which enables cross-chain interoperability and asset custody. Bella Protocol is positioned as a strategic move of ARPA’s long-term DeFi blueprint, and it will attract its first batch of users from the global ARPA community.

The Bella Protocol offers a suite of DeFi products for streamlined crypto banking experience. The core concept of Bella product design is 1-Click. Bella automates everything possible, subsidizes gas fee, and caters to both new and experienced users either on-chain or via Bella custodian service.

Q3. So what products do you have prepared?

The current product lineups include Bella Liquidity Mining, Flex Savings,
One-Click Portal, and Lending. We can dive deeper into each product later.

Q4. Why did you guys launch Bella? What are the rationals behind it?

Our team has been DeFi trailblazers since November 2019, supporting
liquidity in various DEXs and lending protocols. The Bella product matrix aims to address user major pain points with a hybrid approach. The followings guide our product development:

DeFi is a trillion-dollar market fueled by the rise of stablecoins. Despite recent hype, current DeFi user penetration is merely 1% of crypto users DeFi user pain point: gas fee, user experience, understanding of smart contract DeFi user motivation: risk-adjusted high yield via liquidity mining The need for interoperability across emerging protocols for best yield Hybrid finance to combine DeFi and CeFi. Mobile is the next big thing.

DeFi is a trillion-dollar market fueled by the rise of stablecoins. Despite recent hype, current DeFi user penetration is merely 1% of crypto users DeFi user pain point: gas fee, user experience, understanding of smart contract DeFi user motivation: risk-adjusted high yield via liquidity mining. The need for interoperability across emerging protocols for best yield Hybrid finance to combine DeFi and CeFi. Mobile is the next big thing

The core concept of Bella product design is 1-Click. Our products condense information into actionable plans, automate everything possible, and cater to both new and experienced users. Now users can say goodbye to bouncing between protocols to farm for the best yield, and simply sit back and leave all the heavy-lifting to us. A majority of crypto holders cannot participate in DeFi due to high gas fee, slow speed, and poor user experience.

Q5. So what utility does 1-Click provide?

1-Click allows users to simply deposit and enjoy high yield from sophisticated arbitrage strategies, either on-chain or via our custodian service. We expect 1-Click to be a game-changer, similar to Amazon’s 1-Click ordering system, and to bring 10x more users to the DeFi space.

Q6. How does Bella accomplish the “Zero Gas Fee” Feature?

We are gonna give two transaction options: a decentralized one, and the other is via our custodian service. We know the pain bouncing between different protocols and spending a lot on gas. We automate everything, so you only need one smart contract interaction to start liquidity mining. If people choose to use our custodian service, we can aggregate a number of transactions together.

For example, we can aggregate 100 orders together and find sometime in the day when the gas fee is low, then execute the orders in one smart contract transaction. If the gas fee of one single transaction is shared among all the users, it’s nearly zero and we can just subsidize it with our own capital. That’s why it’s called zero gas fee. It is not decentralized but I think it’s very convenient. Some people will exchange convenience for not decentralized, we respect both choices, so we offer two ways to accomplish the transaction.

Q7. What are the use cases of the BEL token?

Bella token (BEL) is essential in the whole Bella ecosystem, and will benefit even ARPA ecosystem & ARPA holders. Holders will benefit a lot from BEL.

Fee Collection — Bella offers a suite of DeFi products ranging from hybrid yield farming tool, lending protocol, 1-click savings account, customized robo-advisor. A majority of transaction and service revenue of the network will be used to reward long-term stakers/liquidity providers. Discount — $BEL holders enjoy service fee discounts, similar to exchange platform token such as BNB. For example, custodian service for DeFi protocols and robo-advisors charge a percentage of the profit. That number decreases when paid with $BEL.

Staking — As the total amount of $BEL in circulation increases in the first two years, staking helps $BEL holders to offset the inflation as well as to vote for network changes.
Voting and Governance — Bella is an ever-evolving DeFi ecosystem. Users with staked $BEL can vote for potential product upgrades, new releases, and parameter fixes.

Q8. Wha is the relationship between ARPA and Bella?

Simply put, Bella taps into the DeFi user growth and funding part, while ARPA focuses on the cross-chain asset part.

It is gonna be really competitive to launch the ARPA version of cross chain BTC. But we need an alliance for it, not just on our own. And we need use cases in DeFi. Therefore Bella is a super important step for ARPA’s cross chain asset. Bella fits in the overall blueprint by acquiring more users and assets. We do so by lowering the barrier to entry for normal users. These include lower the gas fees, providing friendly UI/UX, and better referral systems.

Q9. Why did Bella choose to enter the Korean Market?

Korea has always been one of our most important markets since our journey in crypto. Among the 10 language groups that we focus on, Korean is one of our most active. ARPA is listed on Bithumb, the liquidity there is only second to that of Binance’s. Bella will inherit the momentum and take a step further.

Felix and myself have been to Seoul for a combined 20+ times since 2 years ago. Koreans are so active, curious and innovative when it comes to new technology such as blockchain and crypto, it’s always inspiring when we talk to young people here. This brings us a sense of belonging every time we visit.

What is happening now is a paradigm shift from traditional finance to open, permissionless, borderless finance, and that’s what people call DeFi. People are learning about DeFi and are slowly accepting the idea of permissionless finance. We want to be a trailblazer here and leave meaningful and long-lasting impact. With the active push alongside Hanbitco, we are so excited to set off our journey here again.

Q10. What are your plans for Bella? What are some of the immediate plans and what are the long-term ones?

Most of our products will be released within the next 6 months. Please refer to the roadmap below:

Q3 2020–2nd Global Community Survey

— Listing on Binance

— $BEL Liquidity Mining

— $BEL Airdrop for $ARPA holders

Q4 2020

— Bella 1-click Protocol v1 Launch

— Bella Flex Savings v1 Launch

Q1 2021

— Bella Lending v1 Launch

Q2 2021

— Bella DeFi Robo-advisor v1 Launch

Q3 2021

— User Growth Campaigns

— Other Additional Features

For this month:

  1. Liquidity mining is going LIVE!! Use stablecoins, ARPA/USDC and BEL/USDC LP token to farm BEL token. The reward APY is going to be high.
  2. Airdrop is still TBD, but most likely we will do it. You guys should stay tuned for announcement. There are a few things we need to sort out, but we will 100% reward ARPA holders! The timing for airdrop is TBD, probably not this month.

Q11. (Live Questions) How will Bella token affect ARPA? (or vice versa) What will be the benefit for ARPA holders?

Bella Protocol was incubated by ARPA and is an essential part of the ARPA ecosystem. Bella will bring users and assets for the cross-chain asset migration that ARPA is going to do in the near future. 1) ARPA users will be able to receive Bella airdrops soon. 2) We will be likely initiate a staking program with Bulldax soon to.

Q12. (Live Questions) Q1. Do you guys have Collaboration with Financial Institutions or Private Companies? Q2. What role they will play in the Bella Protocol success?

Bella is HyFi: Centralized finance + DeFi. Our goal is to bring 10x users to crypto and DeFi, and we will have to go beyond crypto to snatch these users. To do that, we will need to work with financial instutitions for fiat gateways and regulated custodian services. Our advisors include some of the most experienced Finance & compliance veterans in the space. We want to be the BlockRock of crypto and bridge the two worlds.

Q13. (Live Questions) DeFi so hot right now , so is it just the beginning or are we in the defi bubble? What do you think about that ?

We need to look at both sides of the story. There’s definitely a bubble when you look at the price performance. Coins are mooning again, sometimes shooting up 200x. Even though the peak of the bubble is yet to be reached. When you look at the adoption and penetration as well as product maturity, we are still at the very early stage of the industry. In fact there’s a bubble in almost every industry when it’s at its infancy stage. With bubbles forming, more people are attracted into the space due to high returns, and get to learn about the new ideas as they are in it. Some of them stay as the bubble dies down. During the entire cycle there will be builders and believers who continue to create, build and thrive. We think that there will be at least 10–30x of the room for the stable coins, which is the force of this bull run. On of the strengths that our team has is that we know how to maneuver the crycle. We have been in the space for 2 years now and we are here to stay regardless of the macro.

Thank you

Best regards,



Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store