AMA with Co-founder of ARPA & Bella Protocol, Yemu Xu: Bella aims to bring DeFi products into mass adoption and we will presents globally with WeBlock on multiple fronts
On 27th, August, 2020, at 9am UTC, WeBlock community have chatted with Yemu, co-founder of ARPA to Bella Protocol — unpack the basics — and not so basics — from ARPA’s recent partnership updates, killer features of Bella Protocol and to Bella Protocol ecosystem, etc..
The below transcription from Yemu XU live stream has been condensed and edited slightly for clarity.
ARPA is the world’s first privacy-preserving computation network. We are listed on Huobi, Binance, Bithumb, Gate.io and many other major exchanges. We have 40,000+ holders from 11 language groups around the world. Our daily trading volume totals over 30mil USD across all platforms.
ARPA has incubated Bella Protocol this year, aiming to attract more users into DeFi and crypto by offering one-click crypto banking experience.
Host Q&A Session:
1. What are the three keywords you would use to summarize ARPA’s achievements in the first three quarters of 2020? Could you explain the three keywords one by one?
That’d be: Survive, Re-calibrate, Thrive.
Survive: The pandemic this year caught everyone off-guard. Luckily we coped with it well. Our team worked remotely during the virus outbreak and our size even increased during May — August.
Re-calibration: We incubated Bella, a bold move in the DeFi direction which fits in the overall blueprint of what ARPA wants to achieve.
Thrive: We strive from the bear market and have established ourselves as one of the most global, most accessible and most liquidity projects in Asia.
Let me share with you some of the data on ARPA’s global community.
WeChat: 120 directly managed WeChat groups, totaling 40,000+ people
Weibo: 52,000+ followers,100+ daily discussions, 54,000+ daily impressions
Twitter: 20.2k followers
Telegram ARPA Official Community (English): 15,700 members
Other language groups are Thai (500), Indonesian (1,300+), Russian (3,800+), Vietnamese (2,200+), Filipino (900+), Korean (4,000+), African (500+), Turkish (300+), Sri Lanka (600+). Totaling 13,000+ members.
2. What is the future plans of ARPA in context of your recent partnership with WeBlock?
WeBlock has a strong presence globally and so does ARPA. We are very excited to collaborate on multiple fronts including marketing, co-branding, and ecosystem building. Members from both sides will surely benefit from our partnership. Besides this, we have many exciting news to share on partnership, investments, listings and so much more.
3. Why makes ARPA decide to offer incubation services to Bella Protocol? What do you think is the most interesting feature of Bella Protocol?
One of the applications of secure multi-party computation is threshold signature.
Threshold signature can be used for decentralized cross-chain asset generation and custody, for example, cross-chain generation of BTC into ERC20 BTC.
This is an important way to enrich the asset class on Ethereum network. 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.
One of the most exciting features is that we free users from choosing from hundreds of platforms & products. Automated smart routing system picks the product the the optimized yield for you.
4. As Bella Protocol aims to solve the prevalent problems lie in most of DeFi products and accelerate DeFi adoption among mass users, what do you currently think is the biggest obstacle that as a whole to overcome towards future adoption of Bella Protocol? How would ARPA and ARPA’s ecosystem partners help with it?
I cropped out this header from our website:
We plan to raise the overall DeFi adoption rate from 1% to at least 10%.
We will start from our strong ARPA community. There will be multiple rounds of airdrop to ARPA holders.
There will be liquidity mining for ARPA and Bella tokens. Community members are encouraged to provide liquidity for ARPA and Bella and get rewarded for that.
Either way this will benefit both ARPA and Bella token holders and investors for sure.
This will happen very soon, most likely in the next week or two, as we are busy negotiating with the 3 largest exchanges in the world.
We will fully launch our audited product suites in October.
5. Billions of dollars are moving into the industry and outrageous price jumps are making the DeFi world feel it’s 2017 all over again. Do you think a DeFi bubble is forming?
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 on both DEX and CEX. Even though the peak of the bubble is yet to be reached — and that’s just my personal opinion.
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 hype 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 to grow, which is we think is the force and fundamentals of this bull run.
Community Live Q&A
1. I saw both Apra and Bella shares the same teammeber, are they real? Or just kind of strategy to do public promotion? Do they able to handle 2 projecs in the same time?
Bella’s co-founder & CEO Felix holds a finance and information systems degree from Stern School of Business at NYU. He used to work on the Street in both hedge fund and family office before he returned to China and worked at one of the largest asset management firms Fosun Group. He has deep experience and understanding of the finance industry.
Cofounder & CGO Yemu holds tri-degree in Actuarial Science, Mathematics degree and Risk Management. He worked at one of the largest asset management firms in the world, Fidelity Investments, before he founded a fintech startup in lending, where he was in charge of the overall marketing, BD and growth.
Cofounder and tech lead Bomo was the lead system architect at OmniVista, Blackstone and Wells Fargo, where he built and improved the infrastructure for these renowned financial institutions and hedge funds.
2. What kinds of tokens will be in Bella mining pool?
stable coins (BUSD, DAI, USDT…) , ARPA and Bella.
3. Which exchange will Bella Protocol be listed first?
One of the top 3 exchanges.
4. I came cross the profile of Bella, so basically it says they will revolutionized the Central mobile bank. But how they see the internet banking like Paypal? will they turn over those institutes as well?
For a long time we foresee these platforms to co-exist in a complemenary way. We will service those who are underserved by the tradional banking and finance indutry as we are decentralized, permissionless and equal.
5. Can you brief us about the main uses and benefits for each of these three?
1. Bella 1 Click
2. Bella Lending
3. Bella Flex Savings
We are launching liquidity mining this month and we plan to launch our Flex saving and 1-click flagship product in october.
DeFi Product Research
1st Community Survey
The AMA was so interesting that 5 questions were picked by our guests, bringing the AMA to an end.
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