Why I'm bullish on bonobo.cc

By SouthEastCradle | FoodforCrypthought | 16 Jan 2022


(This essay was previously posted on r/Banano.)  


Decentralization. It's the word, the system, the trend that has been supported by the cryptocurrency community in general since the inception of Bitcoin in 2009. However, with the most recent state of the crypto ecosystem, it's just not all too easy to achieve. CEXs requiring KYC, free crypto faucets that give way too little and need too much patience to accumulate significantly, you name it.  

This issue has long been addressed by the developers of Nano, from which Banano later came. Fast and feeless, you know what the deal exactly is. What's more interesting is that Banano has an even wider, more inclusive ecosystem for just about any kind of crypto supporters out there, in comparison to its older sibling. This has, and still influences Nano, in turn perhaps also contributing to each other. Two of the most outstanding points are the numbers of Banano faucets and DEXs out there. In this essay, I'll be focusing on the latter.  

Since Banano is based on Nano, it'd be natural that these Ba/Nano-based DEXs only provide options to change between each other. (Kuyumcu also allows you to exchange Ba/Nano with r/CC Moons.) While these may come in handy for those often trading on CEXs, this kind of decentralization is clearly only in a limited sense. This is especially problematic in the case of *ahem* CoinEx, which requires you to have at least 1000 BAN in order to withdraw to your wallet. Enter bonobo.cc, a new DEX-faucet website that enables more crypto decentralization for the community! With a few more flexible options, you can now broaden your crypto portfolio in a considerable amount.  

bonobo.cc currently has the following options, aside from the obligatory Ba/Nano and Moons ones:

  • Algorand (ALGO)
  • Polygon (MATIC)
  • Stellar Ananos (ANANOS)
  • Stellar Lumens (XLM)

"But other crypto swap sites exist. I don't understand the appeal behind this!" I hear you, ladies and gentlemen. However, worth noting is that these swap sites often have an astronomically high minimum amount requirement for a swap, which is sure to be a turn-off for the less wealthy monkes such as you and I. Also, these swap sites mostly lack the option for our favorite Banano, which kills the purpose for us here. Indeed, bonobo.cc's motto, "[b]uy small amounts of high performance coins", is not on the site's front page for no reason. You no longer need to have at least $25 of a coin to swap it to Banano, or just about any other option I mentioned above.  

While the options are obviously still too little for some others, bonobo.cc opens up a new path for crypto decentralization with a smaller minimum bare amount for anyone to participate. I expect it to grow in a matter of time, potentially enabling to add even more coin/token options.  

(Of course, just like any and all other discussions within the crypto space, this is by no means a financial advice. As always, DYOR before investing.)

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SouthEastCradle
SouthEastCradle

An eternal wanderer in journey to seek more knowledge.


FoodforCrypthought
FoodforCrypthought

Random sidenotes that I write as I journey through the blockchain ecosystem. Not a place for financial advices, so please DYOR.

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