Bella Protocol Burn 3,200 BEL Tokens In Q4 2021
Since its official launch on February 8, Bella Protocol smart mining product Flex Savings v2 has been running safely and smoothly for nearly eleven months, earning users a risk-controlled high return.
With its community’s enthusiastic support, the asset under management of Flex Savings is now over $30 million. Bella built a token burn program in Flex Savings v2: a percentage of the revenue generated through transaction and management fees will be used to buy back and burn $BEL tokens.
According to the fee structure, Bella will use 8% of the revenue generated by Flex Savings v2 to market-buy $BEL. Half of them will be temporarily kept in their marketing address and allocated to BEL stakers at the proper time. The other half will be sent to the 0xeeee address for a permanent burn.
In 2021 Q4, the team has repurchased a total of 3200.96 $BEL, worth nearly $4300, and burnt a total of 1600.48 $BEL in five batches, worth around $2150 at the current market price.
The higher AUM of the Flex Savings v2 is, the more funds will be used to market-buy and burn $BEL, this will constantly reduce its circulation, protecting and ensuring the interest of $BEL holders.
Bella Protocol will continue to iterate their product and focus on ecological construction to bring more benefits to our supporters.
ABOUT Bella Protocol
Bella Protocol is a suite of open finance products that aims to bring mass adoption to DeFi asset management. Bella’s first yield product, Flex Savings v2 is live on Ethereum with $40 million TVL. Bella’s core team is creating Bella Virtuoso, a permissionless strategy platform that connects investors with the best LP strategies on Uniswap V3. Bella Virtuoso also comes with built-in backtesting tools and data infrastructure for strategy builders.
RESOURCES
Medium
